16th 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 329.06 points to 57788.03 and Nifty was down by 103.50 points to 17221.40

SunPharma, KotakBank, Maruti were the top gainers.

For Nifty support seen at 17100-17000, Resistance seen at 17300- 17400.

Rupee ends at 76.23 lowest level vs dollar since April 24, 2020

India's GDP to grow 8.2% in FY23, RBI to hike rates by 100bps: Bank of America

All eyes will be on the US Fed meeting tonight and we’re going to see the reaction in early trade on Today.

The Competition Commission of India (CCI) on Wednesday approved acquisition of shareholding in Sterling and Wilson Renewable Energy Limited by Reliance New Energy Solar Limited. 

Fitch upgrades TCS' rating outlook, stable from negative.

SBI raises Rs 3,974 crore via bonds

State-run power giant NTPC on Wednesday said it has awarded a standalone fuel-cell based green hydrogen microgrid project at Simhadri, in Andhra Pradesh.

Tata Motors on Wednesday said it has tied up with Bandhan Bank for retail finance for its range of passenger vehicles.

Adani Enterprises emerges most consistent wealth creator in Motilal Oswal study

RBI allows payments banks and small finance banks to conduct government business.

U.S Fed Interest Rate Decision unchanged to 0.25 % vs Expected 0.25%

Federal Reserve Chair Jerome Powell signaled on Wednesday that inflation is now enemy

Also, he said there will be three interest-rate hikes in 2022 to help counter the threat of persistently high inflation

US House clears bill to raise debt cap by $2.5 trillion to about $31.4 trillion

U.S. Retail Sales MoM at 0.3% vs Expected 0.8%

U.K. Consumer Price Index (CPI) YoY at 5.1% vs Expected 4.7%

India Trade Balance Data at -22.91B vs Expected -23.15B

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 17200

Call Writing seen at 17600 followed by 17500

India VIX up by 1.56% from 16.95 to 17.22 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 55.88% long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 3407.04 crores, and DII's are net buyers 1553.01 crores.

Options data suggests a trading range between 17200 to 17500

Global Markets:

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

Dow Jones industrial average was up by 383.25 points or 1.08% to 35927.43

S&P 500 Index was up by 75.76 points or 1.63% to 4709.85

Nasdaq Composite was up by 327.94 points or 2.15% to 15565.58

European markets were mixed at the end of the day

Most of the Asian markets are positive right now 07.30 IST

SGX Nifty trading 111.50 points higher to 17363  07.30 IST

SGX Nifty indicates a positive start for Indian markets.

Keep an eye on these Economic Data:

Eurozone Manufacturing Purchasing Managers Index (PMI) Data at 14.30 IST

U.K. Manufacturing Purchasing Managers Index (PMI) Data at 15.00 IST

U.K. Interest Rate Decision after Indian market hours.

Eurozone Interest Rate Decision after Indian market hours.

U.S. Building Permits Data after Indian market hours.

U.S. Initial Jobless Claims Data after Indian market hours.

U.S. Manufacturing Purchasing Managers Index (PMI)