7th 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 949.32 points to 56747.14 and Nifty was down by 284.45 points to 16912.25

UPL Was only the Top gainer in Nifty50.

All sectoral indices witnessed heavy selloff.

For Nifty support was seen at 16700 levels while resistance was seen at 17300 levels.

The domestic market is expected to be volatile as the near term will be dominated by developments on new variant and, RBI and FED policy decisions.

FIIs continuous to sell amid uncertainty around Omicron, overvaluation, and likely faster Fed tapering amid rising inflation

PMS & AIF industry set to cross Rs.50 lakh crore in next 10 years: PMS Bazaar

Companies raised Rs.52,759 crore from IPOs till October this fiscal: Sitharaman

India has 4th largest foreign exchange reserves in world: MoS Finance

Tata Power, IIT Madras ink MoU to collaborate on R&D, training, tech solutions

Tata Motors has announced an impending price hike of its commercial vehicle range. An increase in price in the range of 2.5%, will be implemented from 1st January 2022

India's airlines incurred loss of Rs.19,564 crore in 2020-21: Govt

China cuts reverse repo rate by 50 bps.

Hong Kong shares closed at a fourteen-month month low.

U.K. Construction Purchasing Managers Index (PMI) Data at 55.5 vs Expected 52.0

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 17500

Put Writing seen at 16800 followed by 16700

Call Writing seen at 17200 followed by 17300

India VIX up by 8.79% from 18.70 to 20.08 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 63.42% long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 3361.28 crores, and DII's are net buyers 1701.56 crores.

Options data suggests a trading range between 16800 to 17300

Global Markets:

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

Dow Jones industrial average was up by 646.95 points or 1.87% to 35227.03

S&P 500 Index was up by 53.24 points or 1.17% to 4591.67

Nasdaq Composite was up by 139.68 points or 0.93% to 15225.15

European markets were positive at the end of the day

Most of the Asian markets are positive right now 07.30 IST

SGX Nifty trading 84 points higher to 17024.50 07.30 IST

SGX Nifty indicates a positive start for Indian markets.

Keep an eye on these Economic Data:

Eurozone Gross Domestic Product (GDP) QoQ at 15.30 IST

U.S. Trade Balance Data after Indian market hours