Daily Market Update- Equity 20 Dec 2022 | Globe Capital Market LTD.
Daily Market Update- Equity 20 Dec 2022

Nifty index settled at the day’s top at 18420, up 151 points from its previous closing value.

Overview and Outlook

Global Market Update

  • US equity markets settled in red, down in range 0.49 to 1.49%
  • European equity markets ended on flat to positive note
  • Asian equity markets are trading in red
  • SGX Nifty is little changed, down 31 points (as on 8:19 AM)


News highlights from across the globe

  • Stocks in Asia opened mixed as investors focused on the outlook for inflation and interest rates ahead of the Bank of Japan’s policy decision later Tuesday.
  • US equity futures rose after the S&P 500 closed at its lowest level in more than a month on Monday. The benchmark was dragged down by declines in big-tech firms including Apple Inc., Microsoft Corp. and Amazon.com Inc.


Important news updates from the domestic front

  • NDTV: Adani Group subsidiary Vishvapradhan Commercial Pvt. Ltd. has bought 8.27% stake in the company via open offer, taking its overall shareholding to 37.45%.
  • Jet Airways: The monitoring committee informed NCLT that slots have not been procured for Mumbai and Delhi airports as pending dues, required to be paid as per resolution plan, have not been deposited with airport authorities in these two cities.
  • Sterling and Wilson Renewable Energy: Promoters Shapoorji Pallonji and Co. and Khurshed Yazdi Daruvala will sell up to 3.69% and 1.58% stake of the company, respectively, amounting to 1 crore shares, at a floor price of Rs 270 per share on Dec. 20 and 21.
  • HDFC: The lender raised home loan rates by 35 basis points for customers with credit scores over 800. The new rates, effective Dec. 20, will start from 8.65% for such customers.
  • IRB Infrastructure Developers: The board of the company will meet on Jan. 4, 2023, to consider a stock split.
  • IRCTC: Life Insurance Corporation of India increased its stake in the company to 7.28% from 5.01%.
  • Just Dial: Promoter Reliance Retail Ventures Ltd. will sell 16.86 lakh shares, representing 2% of the overall shareholding, via open market sale to achieve minimum public shareholding.
  • Ipca Laboratories: The company acquired additional 6.53% stake in Trophic Wellness Pvt. Ltd., taking its overall shareholding to 58.88%.
  • Bank of India: The bank infused Rs 57.92 crore in its joint venture Star Union Dai-lchi Life Insurance Co.Ltd.
  • NBCC (India): The company secured a project worth Rs 69.3 crore for construction of multistoried quarter complex at Bhoinager, Bhubaneswar by Odisha Power Transmission Corporation.
  • DFM Foods: The discovered price from the company’s delisting process is Rs 525 apiece, compared to its floor price of Rs 263.80.


Nifty Outlook

Nifty index settled at the day’s top at 18420, up 151 points from its previous closing value.

Broader markets performed in line with benchmark as Mid & Small cap index gained 0.67% and 0.46% respectively, leading to positive market breadth.

Barring IT & PSU Bank index, all other major sector gauges tracked at NSE settled in green. Auto, FMCG & Metal index were at the top of the tally, up over 1% each.

Nifty index posted steep recovery on the first trading session of the week after trading with bearish bias in the previous week. Going ahead, sustenance above 18450 spot levels will open the gates for further up move towards 18600 and higher levels in the immediate near term.


Derivatives Overview & Outlook

Yesterday, Nifty futures shed around 2% of open interest as short covering whereas Banknifty future added around 8% of open interest as long buildup.

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

On options front, put writing was seen at 18300 strikes and maximum put positions are also at 18300 strikes whereas maximum call positions are at 19000 strikes closely followed by 18600 strikes.


FII & DII Trading Activity

Yesterday, FIIs sold stocks worth Rs 538 Cr in the cash segment, bought stocks futures worth Rs 1766 Cr and also bought index futures worth Rs 1156 Cr. DIIs were net buyers in the cash segment to the tune of Rs 687 Cr.


Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 18580-18700; Supports 18400-18300

Banknifty Futures – Resistances 43750-44000; Supports 43350-43100


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