Daily Market Update- Equity 21 Dec 2022 | Globe Capital
21-Dec-2022
Daily Market Update- Equity 21 Dec 2022

Steep recovering witnessed in the final hour of trading helped Nifty index settle on a flattish note in an otherwise weak trading session, finally closed shop at 18385 levels, down 35 points.

Overview and Outlook

Global Market Update

  • US equity markets settled on flat to positive note
  • European equity markets also ended on a flattish note
  • Majority of Asian equity markets are trading in green
  • SGX Nifty is up 75 points (as on 8:13 AM)

 

News highlights from across the globe

  • Wall Street closed slightly higher on Tuesday after four sessions of declines, but investors fretted about weak holiday shopping and rising bond yields added pressure after the Bank of Japan’s (BoJ) surprise tweak of monetary policy.

 

Important news updates from the domestic front

  • Dabur India: Entities of Burman family, who are part of the majority shareholders of the company, have sold approximately 1% shares through a block deal on Dec. 20.
  • Bharti Airtel: The company entered an agreement to acquire 8% share in technology start-up Immensitas Pvt. Ltd. (Lemnisk).
  • Sterling and Wilson Renewable Energy: Promoters Shapoorji Pallonji Group and Khurshed Yazdi Daruvala will exercise the oversubscription option for their stake sale as the first day of the issue received 153% demand from the non-retail category.
  • Uno Minda: The company entered a technical license agreement with Korea’s Ascentec to strengthen its advance automotive sensors product portfolio.
  • Central Bank of India: The board will meet on Dec. 26, 2022, to consider and approve raising fund through issuance of Tier II bonds.
  • GAIL (India): The company raised 1,575 crore via issuance of non-convertible debentures on private placement basis to refinance existing borrowings and/or fund its capital expenditure.
  • City Union Bank: The Reserve Bank of India discovered divergence in additional gross NPA for the fiscal ended March 2022, amounting to Rs 259 crore.

Nifty Outlook

Steep recovering witnessed in the final hour of trading helped Nifty index settle on a flattish note in an otherwise weak trading session, finally closed shop at 18385 levels, down 35 points.

Broader markets too performed in line with benchmark as Mid & Small cap index were down 0.4% and 0.6% respectively. Market breadth was also slightly tilted towards the declining side.

Majority of sector gauges tracked at NSE settled in red, Realty index lost maximum, down 1.21% apart from this Auto & Media index lost maximum.

Nifty index settled after posting steep recovery, this is a positive development and if it is able to cross and sustain above 18450 levels then an up move till 18600/700 can be witnessed shortly.

 

Derivatives Overview & Outlook

Nifty December futures ended at 18,425, a premium of 74.30 points. Nifty December futures fell 0.15% and 293 shares in Open Interest.

Nifty Bank December futures ended at 43,460, a premium of 74.80 points. Nifty Bank December futures rose 9.54% and 10,613 shares in Open Interest.

 

FII & DII Trading Activity

Overseas investors in Indian equities turned net buyers on Tuesday, after a three-day selling spree. Foreign portfolio investors mopped up equities worth Rs 455.9 crore, while domestic institutional investors remained net buyers for the tenth day, buying equities worth Rs 494.7 crore, according to NSE data.

Securities added to the ban period: Delta Corp., Gujarat Narmada Valley Fertilizers And Chemicals, IndiaBulls Housing Finance, India Railways Catering and Tourism Corporation, Punjab National Bank

Securities removed from the ban period: Balrampur Chini Mills, Bharat Heavy Electricals

Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 18450-18500; Supports 18300-18200

Banknifty Futures – Resistances 43500-43750; Supports 43200-43000

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