15th December Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed negative at the end of the day. BSE Sensex was down by 166.33 points to 58117.09 and Nifty was down by 43.35 points to 17324.90

Powergrid, Divislab, Axisbank were the top gainers.

For Nifty support seen at 17226 and Resistance seen at 17638

India’s wholesale inflation soared to a 12 year high of 14.23% YoY underpinned by mineral oil, base metals, crude petroleum and natural gas.

Equity inflows at four-month highs, backed by lower redemptions

The Reserve Bank of India (RBI) on December 14 issued prompt corrective action (PCA) framework for non-banking finance companies (NBFCs) by introducing three risk threshold categories.

FII selling in frontline banking stocks has more to do with the portfolio construct of FIIs (financials constitute the largest holding of FIIs) rather than the fundamentals of the banking sector. Therefore, for long-term investors, the valuations of high quality financials depressed by FII selling, are attractive

The rupee on Tuesday declined by 10 paise to close at an 18-month low level of 75.88 against the US dollar due to persistent foreign fund outflows and concerns over inflation.

Infosys bags order from Orion Corporation for digital transformation

Adani Green Energy (AGEL) has inked a pact with state run Solar Energy Corporation of India (SECI) to supply 4667 MW of green energy

L&T Construction awarded contract worth Rs.2,500-5,000 crore for its buildings & factories business

Govt earned over Rs.8 lakh cr from taxes on petrol, diesel in last 3 fiscals: FM Sitharaman

GAIL chairman and managing director Manoj Jain said his company had launched a global tender to procure a 10-megawatt electrolyser capable of producing 4.5 tonnes per day of hydrogen.

India's exports likely to touch record $400 billion this fiscal: Piyush Goyal

U.K. Average Earnings Index +Bonus at 4.9% vs Expected 4.6%

U.S. Producer Price Index (PPI) MoM at 0.8% vs Expected 0.5%

Open Interest:

On open interest, Maximum put open interest was seen at 17000 followed by 16500. Maximum call open interest was seen at 18000 followed by 17500

Put Writing seen at 17300 followed by 17000

Call Writing seen at 17300 followed by 17400

India VIX up by 2.31% from 16.57 to 16.95 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 57.14% long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 763.18 crores, and DII's are net buyers 425.43 crores.

Options data suggests a trading range between 17200 to 17600

Global Markets:

U.S Markets were closed negative at the end of the Day

Dow Jones industrial average was down by 106.77 points or 0.30% to 35544.18

S&P 500 Index was down by 34.88 points or 0.75% to 4634.09

Nasdaq Composite was down by 175.64 points or 1.14% to 15237.64

European markets were negative at the end of the day

Most of the Asian markets are negative right now 07.30 IST

SGX Nifty trading 10.50 points lower to 17322.50    07.30 IST

SGX Nifty indicates a flat start for Indian markets.

Keep an eye on these Economic Data:

U.K. Consumer Price Index (CPI) YoY Data at 12.30 IST

India Trade Balance Data after Indian market hours

U.S. Core Retail Sales MoM after Indian market hours