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

Nifty index ended flat after lackluster trading session, closed shop at 18329, down 20 points.

Overview and Outlook

Global Market Update

  • US equity markets were down in range 0.6 to 1.12%
  • European equity markets were up in range 0.22 to 0.92%
  • Majority of Asian equity markets are trading in green
  • SGX Nifty is up over 50 points (as on 8:26 AM)


News highlights from across the globe

  • Asian stocks opened slightly higher on Tuesday amid fragile sentiment following a choppy session on Wall Street and ahead of a slew of Chinese economic data.
  • Wall Street’s main indices ended lower on Monday, with real estate and discretionary sectors leading broad declines, as investors digested comments from US Federal Reserve officials about plans for interest rate hikes and looked for next catalysts after last week’s big stock market rally.
  • West Texas Intermediate crude benchmark fell 3.3% to $86.06 per barrel, while gold rose 0.2%.


Important news updates from the domestic front

  • Larsen & Toubro/L&T Infotech/Mindtree: The conglomerate secured NCLT approval to merge its software units—L&T Infotech and Mindtree—with effect from Nov. 14 to form the merged entity LTIMindtree. L&T Infotech appointed Debashis Chatterjee as CEO and MD, and Vinit Teredesai as CFO.
  • Thomas Cook (India): The company signed a long-term agreement with KrisFlyer, the loyalty programme of Singapore Airlines, becoming the first forex partner on the platform.
  • Life Insurance Corporation of India: The insurer diluted its shareholding in Adani Ports and Special Economic Zone to 9.35% from 11.37%.
  • Biocon: The board approved proposals to raise funds through issuance of non-convertible debentures worth $250 million (Rs 2,024.61 crore) and commercial papers worth $275 million (Rs 2,227.07 crore).
  • Adani Enterprises/NDTV: Market regulator SEBI has given its final approval to the company’s open offer for 26% stake of NDTV.
  • Zomato: Rahul Ganjoo, head of new initiatives at the company, resigned from his post.


Nifty Outlook

Nifty index ended flat after lackluster trading session, closed shop at 18329, down 20 points.

Broader market performance was mix, Mid cap index ended flat while Small cap index settled in green, up 0.48%, leading to flat market breadth.

Sector performance was mix, Metal & realty index were at the top of the tally, up 1.7% and 1.13% respectively while Media & FMG index were at the bottom of the tally, down 2.4% and 1.35% respectively.

Nifty index settled at the day’s low after lackluster trading session, where neither bulls nor bears were able to drive markets in their direction. Going ahead, sustenance below 18250 levels will open the gates for further selloff towards 18050-18000 levels in the immediate near term.


Derivatives Overview & Outlook

Yersterday, both Nifty & Banknifty futures remained almost unchanged on the price front whereas on open interest front both shed around 2% & 6% of open interest respectively as long unwinding.

On sectoral front, long buildup was seen among, Cement, Metal and IT stocks whereas some short buildup was seen among Media & Textile stocks.

On options front, call writing was seen at multiple strikes and maximum positions are at 19000 CE followed by 18500 CE and 18000 PE.


FII & DII Trading Activity

Yesterday, FIIs bought stocks worth Rs 1089 Cr in the cash segment, sold stocks futures worth Rs 854 Cr and sold index futures worth Rs 696 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 47 Cr.


Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 18450-18550; Supports 18300-18180

Banknifty Futures – Resistances 42450-42700; Supports 42000-41700


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