1st 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 down up by 195.71 points to 57064.87 and Nifty was down by 70.75 points to 16983.20

For Nifty immediate support is coming near 16900-16800 zone and resistance is formed near the 17120-17200

Markets will be volatile in coming sessions ,Investors should trade with hedged positions until the markets stabilise.

Govt debt at 62% of GDP capable of repaying liabilities: MoS Finance Pankaj Chaudhary

Outlook for Indian banks is stable as a likely pick up in lending growth in a supportive policy environment is expected to drive credit cost down, Moody’s Investors Service said.

S&P keeps India's GDP growth forecast unchanged at 9.5% in FY22India's GDP grew by 8.4% in the second quarter beats expectations

Agriculture sector grew 4.5%, manufacturing 5.5%

India Infrastructure Output YoY at 7.5% vs Expected 4.4%

Coal India to infuse Rs.19,650 crore to strengthen rail infraRs.26,697 cr lying in dormant accounts of banks: FM Sitharaman

Maruti has said that its production is going to normalize by January 2022 as it will be able to produce as per demand.

Eurozone Consumer Price Index (CPI) YoY Data at 4.9% vs Expected 4.5%

Open Interest:

On open interest, Maximum put open interest was seen at 17000 followed by 16000. Maximum call open interest was seen at 18000 followed by 19000.

Put Writing seen at 17100 followed by 16700

Call Writing seen at 17100 followed by 17200

India VIX up by 1.62% from 20.83 to 21.17 level.

VIX trading around 21 levels signifies an increase in cautiousness

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 70.52% long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 5445.25 crores, and DII's are net buyers 5350.23 crores.

Options data suggests a trading range between 16800 to 17500

Global Markets:

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

Dow Jones industrial average was down by 652.22 points or 1.86% to 34483.72

S&P 500 Index down by 88.27 points or 1.90% to 4567

Nasdaq Composite was down by 245.14 points or 1.55% to 15537.69

European markets were negative at the end of the day

Most of the Asian markets are positive right now 07.30 IST

SGX Nifty trading 84.50 points higher to 17148 07.30 IST

SGX Nifty indicates a flat to positive opening for Indian markets.

Keep an eye on these Economic Data:

India Nikkei Markit Manufacturing Purchasing Managers Index (PMI) Data at 10.30 IST

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