Daily Market Update- Equity 15 Dec 2022 | Globe Capital
15-Dec-2022
Daily Market Update- Equity 15 Dec 2022

Nifty index settled flat after lackluster trading session, closed shop at 18660 levels, up 52 points.

Overview and Outlook

Global Market Update

  • US equity markets were down by 0.76%
  • European equity markets settled on flat to negative note
  • Asian equity markets are trading in red
  • SGX Nifty is down 68 points (as on 8:14 AM)

 

News highlights from across the globe

  • US stocks closed lower in volatile trading on Wednesday following a policy announcement by the Federal Reserve that raised interest rates by an expected 50 basis points, but its economic projections see higher rates for a longer period.
  • The yield on 10-year U.S. treasuries advanced three basis points to 3.49% on Wednesday.

 

Important news updates from the domestic front

  • IRCTC: The company will offload 2 crore shares, representing 2.5% of its entire shareholding, via a OFS route between Dec. 15 and 16 at a floor price of Rs 680 apiece. The issue will have the option to sell 2 crore additional shares in the event of oversubscription.
  • Poonawalla Fincorp: The company will sell subsidiary Poonawalla Housing Finance to TPG-affiliate Perseus SG for Rs 3,900 crore.
  • Dilip Buildcon: The company executed a contract agreement worth Rs 1,061 crore with Gujarat Metro Rail Corporation via its RBL-DBL JV for metro infrastructure construction near Bheshan under the Surat Metro Rail Project.
  • Glenmark Pharmaceuticals: The company will sell its cardiac brand Razel (Rousvastatin) and combinations in India and Nepal markets at Rs 313.7 crore to J.B. Chemicals & Pharmaceuticals.
  • State Bank of India: The bank will raise Rs 10,000 crore AT1 capital via Basel III compliant debt instrument till fiscal ending March 2024. The bank also hiked MCLR by 25 basis points across tenors, effective Dec. 15.
  • Wipro: The company announced the launch of Capco, a new financial services advisory capability for the Middle East market.
  • Power Grid Corporation of India: The board approved investment of Rs 330.61 crore for transmission system for evacuation of power from REZ in Rajasthan.

 

Nifty Outlook

Nifty index settled flat after lackluster trading session, closed shop at 18660 levels, up 52 points.

Broader markets outperformed benchmark as Mid & Small cap index gained 0.82% and 0.7% respectively, leading to positive market breadth.

Barring FMCG, all sector gauges tracked at NSE settled in green, Realty, Metal, It & Media index were at the top of the tally, up over 1% each.

Domestic markets will react to US Fed rate decision which will be announced post market on Wednesday and its impact will be witnessed in the opening move of Thursday, scheduled weekly expiry will add volatility.

 

Derivatives Overview & Outlook

Yesterday, no significant activity was seen in Nifty and Banknifty futures on price as well as on open interest front.

Majority of F&O sectors settled higher. Amongst them, Banking, IT and Telecom stocks witnessed maximum addition of long positions.

On options front, call writing was seen at multiple strikes along with put writing at 18650 strikes and maximum positions are at 18600 PE and 19000 CE closely followed by 18700 CE.

 

FII & DII Trading Activity

Yesterday, FIIs bought stocks worth Rs 372 Cr in the cash segment, bought stocks futures worth Rs 559 Cr and sold index futures worth Rs 636 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 926 Cr.

 

Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 18800-18900; Supports 18650-18580

Banknifty Futures – Resistances 44250-44500; Supports 43950-43700

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