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

Disclosure

Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, USE and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates.

Globe Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. Rolex Finvest Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited  are associates of GCML. Globe Comex International DMCC is step down subsidiary of GCML.

This report has been prepared by GCML and published in accordance with the provisions of Regulation 19 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, for use by the recipient as information only and is not for general circulation or public distribution. This report is not to be altered, transmitted, reproduced, copied, redistributed, uploaded, published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from GCML. The projections and the forecasts described in this report are based on estimates and assumptions and are inherently subject to significant uncertainties and contingencies. Projections and forecasts are necessarily speculative in nature, and it can be expected that one or more of the estimates on which the projections are forecasts were based may not materialize or may vary significantly from actual results and such variations will likely increase over the period of time. This report should not be construed as an offer to sell or the solicitation of an offer to buy, purchase or subscribe to any securities, and neither this report nor anything contained therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. It does not constitute a personal recommendation or take into account the particular investment objective, financial situation or needs of any individual in particular. The research analysts of GCML have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. The recipients of this report must make their own investment decisions, based on their own investment objectives, financial situation or needs and other factors. The recipients should consider and independently evaluate whether it is suitable for its/ his/ her/their particular circumstances and if necessary, seek professional / financial advice as there is substantial risk of loss. GCML does not take any responsibility thereof.

Any such recipient shall be responsible for conducting his/her/its/their own investigation and analysis of the information contained or referred to in this report and of evaluating the merits and risks involved in securities forming the subject matter of this report. The price and value of the investment referred to in this report and income from them may go up as well as down, and investors may realize profit/loss on their investments. Past performance is not a guide for future performance. Actual results may differ materially from those set forth in the projection.

This report has been prepared by GCML based on the information available in the public domain and other public sources believed to be reliable. Though utmost care has been taken to ensure its accuracy and completeness, no representation or warranty, express or implied is made by GCML that such information is accurate or complete and/or is independently verified. The contents of this report represent the assumptions and projections of GCML and GCML does not guarantee the accuracy or reliability of any projection, assurances or advice made herein. Nothing in this report constitutes investment, legal, accounting and/or tax advice or a representation that any investment or strategy is suitable or appropriate to recipients’ specific circumstances.

Since GCML or its associates are engaged in various financial activities, they might have financial interest or beneficial ownership in various companies including subject company/companies mentioned in the report. GCML or its associates have not received any compensation for investment banking or merchant banking from the subject company in the past 12 months.  GCML or its associates might have received any compensation including brokerage services and for products or services other than investment banking or merchant banking from the subject company in the past 12 months. It is confirmed that GCML or research analyst or its associates have not managed or co-managed public offering of securities for the subject company in the past 12 months.

Research analyst or GCML or its relatives’/associates’ have no material conflict of interest at the time of publication of this report. Neither research analyst nor GCML are engaged in market making activity for the subject company. It is confirmed that research analysts do not serve as an officer, director or employee of the subject company. It is also confirmed that research analyst have not received any compensation from the subject company in the past 12 months.

No material disciplinary action has been taken on GCML by any regulatory authority impacting Equity Research Analysis activities.

The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. This information is subject to change, as per applicable law, without any prior notice. GCML reserves the right to make modifications and alternations to this statement, as may be required, from time to time.

Research analyst or GCML or its relatives’/associates’ do not have actual/beneficial ownership of 1% or more in securities of the subject company, at the end of the month immediately preceding the date of publication of the document.

Open Account