Daily Market Update- Equity 4 Jan 2023 | Globe Capital
04-Jan-2023
Daily Market Update- Equity 4 Jan 2023

Benchmark Nifty index ended flat after a lackluster trading session, settled at 18232 levels after adding 35 points to its previous closing values.

Overview and Outlook

Global Market Update

  • US equity markets ended lower in range 0.4 to 0.75%
  • European equity markets gained by 0.4 to 1.3%
  • Majority of Asian equity markets are trading in green
  • SGX Nifty is down by 50 points (as on 8:12 AM)

 

News highlights from across the globe

  • Shares in Asia faced a muted opening on Wednesday after a decline in US stocks and the price of oil signaled unease about the dimming outlook for the global economy. Treasuries and the dollar rallied and the yen stabilized after a Tuesday jump.
  • U.S. stocks declined in the first trading session of the year as rout in major stocks dragged indices. The S&P 500 was trading 1% lower, while the tech Nasdaq 100 was down 1.4%.

 

Important news updates from the domestic front

  • Reliance Industries: Reliance Consumer Products, the FMCG arm of Reliance Retail Ventures will acquire 50% in stake in Gujarat-based Sosyo Hajoori Beverages.
  • HDFC: Business Update For December Quarter (Y-o-Y) – The lender assigned loans worth Rs 8,892 crore, against Rs 7,468 crore in corresponding quarter last year. – Loans sold in the preceding 12 months increased to Rs 35,937 crore from Rs 27,591 crore in the previous year. – The gross income from dividend increased to Rs 482 crore from Rs 195 crore last year.
  • Vedanta: Business Update For December Quarter (Y-o-Y) – The total aluminum output declined 2% to 566,000 tonnes – Integrated zinc output fell 2% to 210,000 tonnes – Power sales increased 5% to 3,616 million units.
  • Advanced Enzyme Technologies: The company acquired 50% stake in Saiganesh Enzytech Solutions, and additional 4.83% stake in subsidiary JC Biotech.
  • Satin Creditcare Network: The board will meet on Jan. 6 to consider raising funds through private placement of non-convertible debentures.
  • NTPC: The company commissioned India’s first green hydrogen blending project in the piped natural gas network of NTPC Kawas township, Surat.
  • Equitas Small Finance Bank: The Reserve Bank of India allowed SBI Funds Management to acquire up to 9.99% shareholding of the bank through the schemes of SBI Mutual Fund.

 

Nifty Outlook

Benchmark Nifty index ended flat after a lackluster trading session, settled at 18232 levels after adding 35 points to its previous closing values.

Broader markets moved in line with benchmark as both Mid and Small cap index settled on a flat note still market breadth was tilted towards the advancing side. 1326 advances were recorded against 942 declines at NSE.

Sectoral performance was mix. IT index was at the top of the tally, gained 0.78% followed by Pharma & PSU Bank index that was up 0.72% each.

Technically, Nifty index is well placed on multiple chart frames. Going ahead, sustenance above 18270 levels will open the gates for further up move towards 18400/500 zone.

 

Derivatives Overview & Outlook

Yesterday, both Nifty & Banknifty futures added around 3% & 5% of open interest respectively as long buildup.

On sectoral front, long buildup was seen among Banking and Finance stocks whereas short buildup was seen among Media and Metal stocks.

On options front, put writing was seen at 18200 strikes and maximum positions are at 18200 PE and 18200 CE.

 

FII & DII Trading Activity

Yesterday, FIIs sold stocks worth Rs 628 Cr in the cash segment, sold stocks futures worth Rs 155 Cr and sold index futures worth Rs 666 Cr. DIIs were net buyers in the cash segment to the tune of Rs 351 Cr.

 

Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 18375-18450; Supports 18200-18100

Banknifty Futures – Resistances 43900-44200; Supports 43350-43000

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