Daily Market Update- Equity 14 July 2022 | Globe Capital Market LTD.
Daily Market Update- Equity 14 July 2022

Post gap up opening, Nifty index settled near the day’s low as it failed to hold higher levels, closed shop at 15966 levels, down 91 points.

Overview and Outlook

Global Market update

  • US equity markets ended lower by 0.15 to 0.6%
  • European equity markets were down in range 0.73 to 1.16%
  • Asian equity markets are trading mix
  • SGX Nifty is little changed (as on 8:22 AM)


News Highlights from across the globe

  • US inflation accelerates to 9.1%, highest in 41 years – Stocks and US equity futures fell Thursday after US inflation accelerated above expectations. The hotter-than-expected figure is likely to force the Federal Reserve to be aggressive in its efforts to tackle price rise.
  • Oil prices ticked down on Thursday as investors doubled down on the possibility of a rate hike by the U.S. Federal Reserve that would stem inflation and curb oil demand.


Important news & Earnings Updates from the domestic front


  • Infosys: The company will acquire Denmark-based BASE Life Science for €110 million. The deal is likely to close during the second quarter of FY23.
  • Tata Power: TP Saurya, a wholly owned subsidiary, has won a contract from Solar Energy Corporation of India for setting up a 600 MW hybrid (wind and solar) power project in Karnataka. This will increase Tata Power’s total renewables capacity to 5,524 MW.
  • JSW Energy: JSW Neo Energy, a wholly owned subsidiary, has won a deal from Solar Energy Corporation of India to set up a 300 MW wind power plant.
  • Jubliant Pharmova: Jubilant Pharma Holdings Ltd., a unit of Jubilant Pharma, has secured a five-year loan facility from Standard Chartered Bank to repay $350 million in term loans and bonds. An additional $50 million has been earmarked for capital expenditure.
  • Hindustan Zinc: The company has approved interim dividend of Rs 21 per share of face value of Rs 2 each for FY23, amounting to Rs 8,873.17 crore.
  • NHPC: The company has received approval of the Ministry of Power for pre-investment activities at Sawalkot Hydroelectric Project in J&K for an amount of Rs 973 crore at November 2021 price level.


Nifty Outlook

Post gap up opening, Nifty index settled near the day’s low as it fai8led to hold higher levels, closed shop at 15966 levels, down 91 points.

Broader markets ended flat, due to which market breadth was also flat which means their were almost equal number of advances & declines recorded at NSE.

Sector performance was mix, Pharma index outperformed peers, up 1.38% while Oil & Gas index lost maximum, down 1.32%.

Nifty index settled below 16000-mark, this is a negative development indicating further down side, 15900/800 are next immediate supports.


Derivatives Overview & Outlook

Yesterday, both Nifty & Banknifty futures shed around 1% & 7% of open interest respectively as long unwinding.

On sectoral front, short covering was seen among Realty and Cement stocks whereas some long buildup was seen among IT stocks.

On options front, call writing was seen at multiple strikes and maximum positions are at 15500 PE and 16500 CE closely followed by 16300 CE.


FII & DII Trading Activity

Yesterday, FIIs sold stocks worth Rs 2840 Cr in the cash segment, bought stocks futures worth Rs 11 Cr and also bought index futures worth Rs 566 Cr. DIIs were net buyers in the cash segment to the tune of Rs 1799 Cr.


Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 16080-16160; Supports 15900-15800

Banknifty Futures – Resistances 35250-35600; Supports 34600-34300


Earnings Today

ACC, Larsen & Toubro Infotech, Angel One, Bombay Burmah Trading Corporation, Butterfly Gandhimathi Appliances, Earum Pharmaceuticals, GTPL Hathway, Shakti Pumps (India), Tata Elxsi, Tata Steel Long Products, and Tiger Logistics (India) will be in focus ahead of quarterly earnings on July 14.


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