| Indian Market | 17-Dec-21 | ||
|---|---|---|---|
| Weekly Change | Close | Change | % chg |
| Nifty | 16985.20 | -526.10 | -3.00% |
| Sensex | 57011.74 | -1774.93 | -3.02% |
| Banknifty | 35618.65 | -1487.00 | -4.01% |
| Indian Market | 17-Dec-21 | ||
|---|---|---|---|
| Weekly Change | Close | Change | % chg |
| Nifty Mid-Cap 100 | 29939.30 | -1263.75 | -4.05% |
| Nifty Small-Cap 100 | 10849.55 | -401.65 | -3.57% |
| India VIX | 16.34 | 0.28 | 1.74% |
| US Market | 17-Dec-21 | ||
|---|---|---|---|
| Weekly Change | Close | Change | % chg |
| Dow 30 | 35365.44 | -605.55 | -1.68% |
| S&P 500 | 4620.64 | -91.38 | -1.94% |
| Nasdaq | 15169.70 | -460.90 | -2.95% |
Key Events of last week
- US FOMC Meeting: 15-Dec-21: Increase tapering to $30 billion per month. Expect tapering to complete by March 2022.
- ECB Meeting outcome: Kept rate unchanged. Bank of England: Increase rate by 0.15% to 0.25%.
- Indian market down on weekly basis. Nifty & BSE Sensex down by 3% and Banknifty was down by 4%.
- All eyes were on US Fed at beginning of week, US Fed outcome was in-line with expectation.
- Britain recorded more than 88000 fresh cases of COVID-19, highest number of OMICRON cases outside Africa.
- Friday recoded weak day across the globe for all asset class as Dollar Index near 14 months high of 96.645. WTI Crude Oil near $70 & Brent Crude Oil around $73.
- Banknifty & Financial remain weak on fear of rising interest rate & Global risk-off.
- Friday’s fall on Banknifty which is below 200-DMA, getting weak technically.
Market View & Key factors - for last 2 weeks of 2021
- FII selling for 1st half of December is at 26,687 crores, with FII sell numbers for October & November are 25572 crores & 39901 crores respectively.
- FII Sell figure starting from October till 17-Dec-21 is 92,160 crores. FII activity will play important role in last 10 trading days of 2021 & 9 trading days for F&O expiry for December series.
- DII buying has been successfully countered FII Selling but in last 2 weeks, Indices which made high in 2nd half of October, where Nifty & BSE Sensex corrected by more than 8% and Banknifty corrected around 12% from high.
- Based of potential positive and negative factors mentioned below: we believe – if FII selling pressure continue and Indices correct 4 – 5 percent from Friday 17-Dec-21 closing – it could provide good bargain buying opportunity. Market technically is weak as Banknifty closed below its 200-DMA & Nifty 200-DMA comes at 16244.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.