Tuesday, 17 Dec 2024

Time: 8am IST

Report :

Nifty Performance:

  • Nifty fell by 100 points, closing at 24,668.
  • The fall was largely due to profit booking in index heavyweights, especially IT stocks like TCS and Infosys.
  • The oil & gas sector also declined by nearly 0.75%, adding to the Nifty’s weakness.

Broader Market:

  • The Smallcap and Midcap indices outperformed and managed to close in the green.

India VIX:

  • The India VIX surged by 7% on a close-to-close basis.
  • Interestingly, on Friday, despite volatility, VIX was down by 1%, making yesterday’s spike stand out.

FII and DII Activity:

  • FIIs sold stocks worth ₹279 crores.
  • DIIs sold stocks worth ₹234 crores.
  • FIIs unwound 11,000 long positions and added 3,000 shorts in index futures.
  • FIIs’ long-to-short ratio now stands at 39:61, signaling caution.

Global Cues:

  • US Markets: The Nasdaq hit an all-time high ahead of the Fed policy announcement on December 18.
  • European Markets: Closed in the red.
  • Asian Markets: Trading mixed this morning.
  • GIFT Nifty: Indicates a flat to slightly negative start for Indian markets.
  • Indian EXIM data was out , where the trade deficit is at all time high

Nifty Outlook:

  • The Nifty is trading in a range-bound manner, with support at 24,500 and resistance at 24,750.
  • While markets remain volatile intraday, the overall range is holding steady on a close-to-close basis.