8th December Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed positive at the end of the day. BSE Sensex was up by 886.51 points to 57633.65 and Nifty was up by 264.45 points to 17176.70

ICICI Bank, Kotak Bank, Hindalco were the top gainers.

For Nifty support was seen at 16900 levels while resistance was seen at 17500 levels.

Markets have seen some relief today, the overall volatility is likely to remain for some more time until FII selling reduces. 

Investors should await cues from the global Central banks for direction on the monetary policy as well as interest rates.

Indian Oil Corporation (IOC), the nation's largest oil firm, has renewed a deal to buy up to 2 million tonnes of crude oil in 2022 from Russia's Rosneft, the Russian oil producer said.

Indian VC firms betting big on Web 3.0 startups

Small businesses welcome plans for UPI-like digital platform for MSME lending

Route Mobile announced the launch of Payment as a Service - Click2Pay - an instant payment solution.

RIL, Ola, Tata Chemicals, 17 more keen on battery PLI scheme

Nestle India gets approval under Production Linked Scheme

China's November export growth slows but imports accelerate

Eurozone Gross Domestic Product (GDP) QoQ at 2.2% vs Expected 2.2%

Eurozone Gross Domestic Product (GDP) YoY at 3.9% vs Expected 3.7%

U.S. Trade Balance at -67.10B vs Expected -66.80B

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 17200 followed by 17100

Call Writing seen at 17100 followed by 17200

India VIX fell by 8.06% from 20.08 to 18.46 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 70.72% long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 2584.97 crores, and DII's are net buyers 2605.81 crores.

Options data suggests a trading range between 17000 to 17500

Global Markets:

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

Dow Jones industrial average was up by 492.40 points or 1.40% to 35719.43

S&P 500 Index was up by 95.08 points or 2.07% to 4686.75

Nasdaq Composite was up by 461.76 points or 3.03% to 15686.92

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 120 points higher to 17331  07.30 IST

SGX Nifty indicates a positive start for Indian markets.

Keep an eye on these Economic Data:

India Interest Rate Decision at 10.00 IST

ECB President Lagarde Speaks at 13.45 IST

U.S. JOLTs Job Openings Data after Indian Market hours