Daily Market Update- Equity 13 Sep 2022 | Globe Capital
13-Sep-2022
Daily Market Update- Equity 13 Sep 2022

Nifty index gained just over 100 points after a lackluster trading session where Nifty index failed to build post gap up opening, closed shop at 17936 levels.

Overview and Outlook

Global Market Update

  • US equity markets were up by 0.71% to 1.27%
  • European equity markets ended higher by 1.66% to 2.40%
  • Asian equity markets are trading in green
  • SGX Nifty is trading up over 100 points (as on 8:30 AM)

 

News highlights from across the globe

  • Stocks rose in Japan, Australia and Hong Kong. US futures were steady after the S&P 500 completed its best four-day surge since June.
  • Crude oil fell about 1% after a recent advance.

 

Important news updates from the domestic front

  • Tata Consultancy Services: TCS to build a new platform on Google Cloud to enable faster, more predictable, and sustainable distribution for C&S Wholesale Grocers, Inc., a supply chain solutions and wholesale grocery supply major in the U.S.
  • HDFC Life: Abrdn seeks up to $313 millon in HDFC Life share sale. The company also was raised to ‘overweight’ at JPMorgan.
  • Ujjivan Small Finance Bank: the company on Monday launched its QIP with a floor price of Rs 21.93 per share to meet the regulatory requirement ahead of the merger with its parent company.
  • Adani Transmission: Reliance Infra has raised an arbitration claim on a December 2017 deal with Adani Transmission for sale of its Mumbai power transmission network. In response, Adani Transmission called the claim “afterthoughts”, based on untenable positions.
  • NDTV: The Income Tax Department has clarified that there is no restriction on conversion of warrants into shares by RRPR Holdings in favor of Vishvapradhan Commercial Pvt., the company told stock exchanges. This clears the way for the acquisition of the company by Adani group.

 

Nifty Outlook

Nifty index gained just over 100 points after a lackluster trading session where Nifty index failed to build post gap up opening, closed shop at 17936 levels.
Broader market outperformed benchmark as Mid & Small cap index gained 0.98% and 1.33% respectively, leading to fairly positive market breadth.
All major sector gauges tracked at NSE settled in green, Realty & Media index were at the top of the tally, up 2.2% and 1.98% respectively. IT, PSU Bank, Consumer Durable index also performed quite well, up over 1% each.
Going ahead, crossover above 18000-mark is the key for sustainable up move towards 18250-400 levels. If that is not crossed, Nifty index could come down to test 17750 levels.

 

Derivatives Overview & Outlook

Yesterday, both Nifty and Banknifty futures added around 2.5% & 1% of open interest respectively as long buildup.

All F&O sectors settled higher. Amongst them, Chemicals, Cement and Capital Goods stocks witnessed maximum additions of long positions whereas short covering was seen among IT and Media stocks.

On options front, put writing was seen at multiple strikes and maximum positions are at 18000 CE and 17900 PE.

 

FII & DII Trading Activity

Yesterday, FIIs bought stocks worth Rs 2050 Cr in the cash segment, sold stocks futures worth Rs 434 Cr and bought index futures worth Rs 929Cr.

DIIs were net sellers in the cash segment to the tune of Rs 891 Cr.

 

Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 18025-18100; Supports 17870-17780

Banknifty Futures – Resistances 41000-41200; Supports 40350-40000

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