Markets remained more or less unchanged on Monday but broader markets continue to bleed with midcap and small cap indices ending with almost 2% losses. The Nifty Non IT index which holds 82% weight in Nifty 50 has posted another closing below support line of rising wedge on Monday, thus turning Nifty vulnerable for a 25-30% dip in the near term. The Nifty Bank although attempted pullback after initial dip below 200 DMA may trigger vertical fall once 35700 levels are taken out putting more pressure on markets. Overall, the entire dynamics of Indian market are positioned for a major decline in the coming days. Aggressive short positions should be added on Bank Nifty closing below 35700.
US partially recovered from Friday’s sharp sell-off, as investors tried to assess the impact of the Omicron coronavirus variant on the economic recovery and monetary policy. S&P 500 bounced 1.3% from Friday’s rout after Biden says there’s no need for Covid omicron lockdowns
Stocks in news
Coal India declares interim dividend of Rs 9 per share.
Dish TV postpones AGM by 1 month. DLF- ICRA upgrades rating, outlook stable.
Pharma cos- RDIF says developing new version of Sputnik for Omicron.
Amazon infuses fresh capital of Rs 650 cr in Amazon Wholesale (India)
Bharat Biotech resumes Covaxin export with ‘long-pending orders’ in Nov
HAL to manufacture first four light utility helicopters by 2022 -23 – Ajay Bhatt, Mos Defence
Indiamart Intermesh acquires stake in M1xchange for Rs 32.4 crore
TCS takes its digital workforce learning to Swiss Re, a cloud-based digital workplace using Microsoft tech
Supreme Court agrees to hear YES Bank-Dish TV dispute on Tuesday
Reliance Infra plans series of measures to prune group debt by March
Dr Reddy’s eyes Sputnik vaccine exports after domestic struggle
RBI supersedes Reliance Capital board, says firm to go for insolvency soon
India Ratings upgrades Capacite Infra to ‘IND BBB’; outlook ‘stable’
Bharti AXA Life posts 33% growth in weighted new biz premium in H1FY22
Asian Paints to invest Rs 960 cr to expand Gujarat unit’s capacity
Nissan to spend $17.6 bn over 5 years to increase vehicles’ electrification
Reliance considering bid for UK telecom firm BT in early talks
Macrotech Developers to invest Rs 3,000 crore as it eyes Bengaluru entry
Amazon asks CCI to revoke $3.4-billion Future-RIL deal approval
CCI won’t be intimidated by the arrogance of Amazon – Future Retail
Fitch affirms ICICI Bank’s issuer default rating at ‘BB+’; outlook negative
LIC gets RBI’s nod to increase stake in Kotak Mahindra Bank to 9.99%
Hindujas to raise stake in IndusInd Bank, raising $1.1 bn for funds
Economy & Policy
500,000 cos went out of biz, 700,000 new cos registered in 6 years – Corporate Affairs ministry
India’s GDP seen growing at 8.3% in Q2, 9.4% full year – India Ratings
Net direct tax revenue rises 68% to Rs 6.92 trillion till Nov 23
RBI wants digital currency included under definition of ‘bank note’ – FinMin
No proposal to recognise Bitcoin as currency – Nirmala Sitharaman
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