Daily Market Update- Equity 15 July 2022 | Globe Capital Market LTD.
Daily Market Update- Equity 15 July 2022

Nifty index ended flat after volatile trading session, closed shop at 15938 levels, down 28 points.

Overview and Outlook

Global Market update

  • US equity markets ended on flat to negative note
  • European equity markets were down in range 1.4 to 1.86%
  • Asian equity markets are trading mix
  • SGX Nifty is up 64 points (as on 8:20 AM)


News Highlights from across the globe

  • The S&P 500 pared early losses to close modestly lower on Thursday after investors digested disappointing quarterly results from two large US banks and hotter-than-expected inflation data.
  • Chinese markets slipped as Asia stocks fell on Friday ahead of China data including GDP and retail sales. China is expected to report a sharp slowdown in economic growth in the second quarter after widespread COVID lockdowns jolted factories and consumers, although activity in June may have perked up.
  • MSCI Inc.’s Asian share gauge declined for a second day, including a more than 1% loss in Australia amid lower raw material prices.


Important news & Earnings Updates from the domestic front

  • India’s merchandise trade deficit rose to a record $26.1 billion in June 2022, 172 percent higher than June 2021 as a continuing global commodity supercycle kept the prices of key energy and metal imports high. The latest figures are higher than the government’s initial estimates of $25.6 billion.
  • LIC Of India: The embedded value of India’s largest insurer stood at Rs 5.4 lakh crore in March 2022 compared to Rs 95,605 crore in March 2021 and 5.39 lakh crore in September 2021.
  • Adani Ports & SEZ: An alliance of India’s biggest ports operator and Israel’s Gadot Chemicals Tankers & Terminals has won the bid to buy Israel’s second-largest sea port Haifa.
  • Cipla: Cipla Health, a wholly owned subsidiary, has agreed to acquire Endura Mass, a maker of fitness supplements.
  • Vedanta: To consider and approve second interim dividend on July 19.


Nifty Outlook

Nifty index ended flat after volatile trading sessionon Thursday, closed shop at 15938 levels, down 28 points.

Broader market performance was mix, Mid cap index ended flat while Small cap index was down over 1% leading to fairly weak market breadth.

Majority of sector gauges tracked at NSE settled in red, PSU Bank index was at the bottom of the tally, down over 2% while Oil & Gas, Pharma index outperformed, up 1.34% & 0.7% respectively.

Nifty index settled lower for the third consecutive trading session, it found support around 15850 levels on Thursday, which is a strong trend line support. Due to which 100 points up move was witnessed thereafter in day trade itself. Going ahead, sustenance above 16000-mark is the key for sustainable up move otherwise selling pressure will resume and break below 15850 can take markets towards 15650 in the immediate near term.


Derivatives Overview & Outlook

Yesterday, both Nifty & Banknifty futures added around 5% & 2% of open interest respectively as short buildup.

On sectoral front, short buildup was seen among IT, Metals and Media stocks whereas some long unwinding was seen among Telecom and Realty stocks.

On options front, Nifty will start the new week with maximum positions at 15500 PE and 16000 CE.


FII & DII Trading Activity

Yesterday, FIIs bought stocks worth Rs 309 Cr in the cash segment, sold stocks futures worth Rs 4736 Cr and also sold index futures worth Rs 602 Cr. DIIs were net sellers in the cash segment to the tune of Rs 556 Cr.


Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 16020-16100; Supports 15850-15780

Banknifty Futures – Resistances 35000-35250; Supports 34600-34300


Earnings Today

Jindal Steel & Power, Federal Bank, Aditya Birla Money, Deep Diamond India, Den Networks, Integrated Capital Services, Just Dial, Kesoram Industries, Lloyds Metals and Energy, L&T Technology Services, Oberoi Realty, and Opto Circuits (India) will be in focus ahead of quarterly earnings on July 15.


Stock under F&O Ban – Delta Corp


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