Daily Market Update- Equity 30 Dec 2022 | Globe Capital Market LTD.
Daily Market Update- Equity 30 Dec 2022

Nifty index settled near the day’s top at 18191 levels, up 68 points from its previous closing levels on the monthly expiry day.

Overview and Outlook

Global Market Update

  • US equity markets were up in range 1 to 2.5%
  • European equity markets also settled in green
  • Majority of Asian equity markets are trading in green
  • SGX Nifty is up 57 points (as on 8:21 AM)


News highlights from across the globe

  • Asian markets headed towards early gains on Friday aided by positive momentum in the U.S. stocks. The U.S. shares snapped their two-day decline as easing in jobs data indicated a less likely scenario for growing inflationary pressures.
  • The S&P 500 was up 1.9%, while the tech-heavy Nasdaq 100 increased 2.6%. The yield on 10-year Treasuries declined five basis points to 3.83%.
  • Crude fell 1.5%, whereas gold futures rose 0.5%.


Important news updates from the domestic front

  • Reliance Industries: Reliance Retail Ventures, the retail unit of the company, will acquire 51% stake in Lotus Chocolate Co. for Rs 74 crore, and make an open offer to acquire up to 26%.
  • Eicher Motors: The company will acquire 10.35% stake in Spain-based Stark Future for €50 million (Rs 441.74 crore) and explore collaboration opportunities in electric mobility space.
  • Cipla: Cipla EU, a subsidiary of the company, will acquire 10.35% in Germany-based R&D company Ethris for €15 million (Rs 132.60 crore).
  • Tata Power: The company raised Rs 1,000 crore via issue of 10,000 non-convertible debentures.
  • Welspun India: The company acquired 26% in Clean Max Thanos for Rs 3.80 crore for supply of renewable energy under captive structure.
  • SBI Cards and Payment Services: The company has collaborated with Punjab & Sind Bank to roll out three co-brand credit cards.
  • Swan Energy: The NCLT approved the resolution plan for Reliance Naval submitted by Hazel Mercantile. The company is a strategic partner in the Hazel Mercantile through SPV Hazel Infra.
  • HG Infra Engineering: The company received a project worth Rs 743.74 crore for construction of 6-lane Karnal ring road in Haryana.


Nifty Outlook

Nifty index settled near the day’s top at 18191 levels, up 68 points from its previous closing levels on the monthly expiry day.

Broader markets ended on a flattish note, due to which market breadth was also flat.

Majority of sector gauges tracked at NSE settled in green, Oil & Gas, Metal, Private Bank index gained maximum, up over 1% each.

Nifty index managed to settle near 18200 levels, going ahead, if it is able to cross and sustain above that mark then 18400 can be seen shortly otherwise it will once again drift towards 18000-mark.


Derivatives Overview & Outlook

Yesterday, both Nifty and Banknifty futures remained almost unchanged on the price front and shed around 11% & 10% of open interest each on expiry day.

Nifty and Banknifty futures rolled 79% & 88% of open interest respectively into next contracts which was in line with previous month rollovers of 81% & 86% respectively.

On options front, nifty will start the first weekly series of Jan contract with maximum positions at 18000 PE and 18500 CE.


FII & DII Trading Activity

Yesterday, FIIs sold stocks worth Rs 573 Cr in the cash segment, sold stocks futures worth Rs 511 Cr and also sold index futures worth Rs 14 Cr. DIIs were net buyers in the cash segment to the tune of Rs 516 Cr.


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