Categories
Daily Reports

Daily Report 1-Dec-22

Indian market rallied in last 30 minutes of trade as MSCI rebalancing impacted. FII buy figures at 9010.41 crores impacted due to MSCI inflows.

Wall Street rallied after US Fed chair Jerome Powell statement and now market is expecting dovish policy outcome on 14-Dec-22.

Wall Street rallied after US Fed chair Jerome Powell statement and now market is expecting dovish policy outcome on 14-Dec-22.

India’s GDP data for Q2FY23 came at 6.3% Vs estimate of 6.4%, mostly in line with market expectation.  Full year GDP forecast at 7%.

US Economic data today: Core PCE index & ISM Manufacturing PMI. 

Indian market likely to open with gap-up around 100 points and further rally is expected due to short covering as weekly options expiry today.

F&O Data: FII Net long 75.25% in Index futures & 102664 no of contracts.  Nifty PCR @ 1.55. Banknifty PCR @ 1.03.

Approach on Indices: First gap-up may see some profit booking, we expect 2nd round due to weekly options expiry, will prefer to play fresh long in 2nd round after confirmation.  

Market View: US Fed chair Jerome Powell speech is as good as US Fed meeting outcome.  IT, Metal & Banking should be clear winner in Indian market.  

SGX Nifty @ 18996.50 up 80 points at 8:00 AM

Click on the attachment to read the full report: