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.