Markets ended on a flat note on Wednesday despite selling pressure in the early hours of trade and gains in Bank Nifty helped key indices to trim their losses. The non-institutional volume continues to edge lower below Rs 19000 crores as liquidity from retail participants dries up. The FII selling has intensified in the past few days and DIIs are only putting up a fight to absorb their selling pressure.
At the current juncture, with copper surging by 15% in the past few days, we expect incremental fund flows to get diverted to the commodity asset class and this may open wider cracks to the Nifty 50 index. We Expect Sensex to trigger basket selling below 59952. Thus it is advisable to open aggressive short positions below the same.
Dow Jones in JPY and MSCI India Net USD
Stocks to watch
Positive Read through
- Tata Motors- says will have EVs in both higher and lower-end models.
- RailTel- wins Rs 170 cr order in Puducherry and Rs 123 cr order from NMDC.
- ONGC, OIL- Crude gains sharply overnight, Brent back to USD 83 a bbl.
- Lupin gets a nod from Spanish Regulator for reimbursement of NaMuscla.
- IIFL Wealth- to consider stock split or bonus in Jan 19 board meeting.
- PB Fintech receives an in-principle nod from RBI to set up an account aggregator business.
- Shiva Cement- receives nod from Odisha Pollution Control Board to operate Clinker Unit.
- DB Realty to pay Rs 185.6 cr as final settlement to lender Reliance Commercial Fin.
Negative Read through
- Concor – Govt may invite EoIs, Q3 EXIM volumes indicate market share loss.
- Nykaa- Reports say institutions seek to raise USD 26 mn via block deal at Rs 148 a sh.
- Stove Kraft- Rajiv Mehta resigns as CEO of the Company.
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or any of its communication cannot be held responsible for it.
