Weekly Market Analysis for December 9 to 13, 2024
What happened last week?
Nifty closed last week at 24677, up 2.3% over the previous week.
Nifty made a higher high and a higher low for the second straight week indicating recovery.
Broader market Indices (Midcap, Smallcap) shot up by 3.5%.
FIIs bought ₹11933 Cr and DIIs bought ₹1792 Cr in the cash market last week.
FIIs have particularly bought the Index Heavy weights over the last 3 weeks. All major sectors contributed to the rally, with Banking & IT emerging as top gainers
FIIs have slightly reduced their shorts on Index Derivatives from previous week. But, they have added shorts over the last 2 trading days.
FIIs continue to hold longs in Stock Derivatives.
Overall, FII derivative positions indicate that they are neither aggressively Bullish or Bearish based on their Derivatives positions.
Nifty Sentiment Analysis…
Weekly Max Pain shot up continuously for the last 5 days. There was no reason to go short last week.
However, Monthly Max Pain however remained flat indicating that Positional Traders are not that bullish.
Selling PUTs with a hedge would have been a good option in this type of market.
Note: When the blue line and pink line below start moving up together, we will turn bullish. If they tread down together, we will stay Bearish.
What else happened last week?
RBI maintains 6.5% repo rate while cutting CRR to 4% showing balanced approach towards growth and inflation. 50 basis points CRR cut is aimed at releasing liquidity while maintaining monetary stability.
RBI also reduced the Growth forecast for FY25 to 6.6% from 7.2%. This marks first projection below 7% in FY 2025. Inflation outlook raised to 4.8% from 4%. RBI is acknowledging that economic challenges do exist.
For a quick round up of other highlights from last week, do check out Finvezto Market Bytes.
Key Upcoming Events
December 11
US Inflation Data
December 12
India CPI Inflation Data
India Industrial Production Data
Key Stock Announcements
New Orders & Projects:
Kalpataru Projects secures INR 2,174 crore orders in metro, T&D, construction.
Kernex Microsystems wins INR 2,041 crore contract for onboard KAVACH equipment.
Solar Industries secures INR 2039 crore defense export order.
NBCC's subsidiary HSCC secures INR 599.35 crore Maharashtra health projects.
Sterling and Wilson wins INR 504 crore order for Rajasthan PV project.
L&T Technology Services wins USD 50 mn North America network integration deal.
NBCC wins INR 213 crore contract for Motilal Nehru College construction.
Tantia Constructions secures INR 151 crore ropeway project in Shillong.
Tembo Global secures INR 52.90 crore water irrigation project.
Sarveshwar Foods secures INR 498 mn export order for 5,350 MT Basmati rice.
Tembo Global secures INR 43.89 crore domestic water irrigation project.
H.G. Infra selected to develop Gujarat battery storage project.
Waaree Energies secures 524 MWp solar module orders from domestic clients.
GRSE signs contract for second 7,500 DWT Multi-Purpose Vessel.
TCS partners with Bank of Bhutan to modernize digital banking core.
Tembo Global secures INR 52.9 crore water irrigation project contract.
Vinyas wins INR 48.03 crore orders from international & domestic customers.
Aimtron Electronics secures INR 37.70 crore order in telecom.
Solex Energy secures INR 18.87 crore solar module supply contract.
Aimtron Electronics wins USD 1.8 mn international AI sector turnkey project.
KMEW wins contract to supply new tug to V.O. Chidambaranar Port.
RITES appointed PMC for IIM Raipur Phase II campus development.
Tejas Networks chosen for Tamil Nadu's BharatNet broadband connectivity project.
Aurionpro launches ESG lending platform, secures Southeast Asia deal.
Partnerships, Acquisitions & Investments:
Nazara invests INR 196 crore in gaming, entertainment, Funky Monkeys, Learntube.ai.
Godavari Biorefineries partners with Catalyxx for sustainable bio-chemicals.
Pearl Global increases stakes in Indonesia and Guatemala subsidiaries.
HCLTech completes HPE CTG asset acquisition, strengthening telecom capabilities.
Zydus Lifesciences completes acquisition of Naturell (India) Private Limited.
Gateway Distriparks increases Snowman stake to 48.19% via acquisition.
CFCL and TERI partner to establish sustainable agriculture excellence center.
Vishnu Chemicals acquires Jayansree Pharma, strengthening specialty chemicals presence.
LTIMindtree invests in Voicing.AI, enhancing AI-powered customer engagement.
KPIT completes acquisition of Technica Group, including KPIT Tunisia.
Cyient DLM and Arcedo Systems sign MoU for 500 kWp solar plant.
Suzlon and Jindal Renewables expand partnership with 302.4 MW wind project.
Bharti Airtel extends multi-year 4G & 5G partnership with Ericsson.
Zen Technologies partners with AVT Simulation for U.S. defense market expansion.
Ramco partners with HIST to transform Korean aviation MRO operations.
KIMS increases stake to 70.66% in Arunodaya Hospitals, strategic investment.
Business Operations:
Godrej Properties raises INR 6,000 crore via QIP, reducing debt.
Tata Power Renewable commissions 431 MW solar project in MP.
Gland Pharma receives US FDA approval for Latanoprost Ophthalmic Solution.
CIAN expands globally with UAE export order for eco-friendly products.
AXISCADES restructures defense subsidiaries, targets growth in defense, AI.
C.E. Info Systems announces strategic investments, leadership transition, and B2C venture.
Sudarshan Chemical launches global pigment product "Sumica Bright Gold."
Regenta Inn, Downtown Raipur opens, targeting budget-conscious, tech-savvy travelers.
Blue Dart launches Affiliate Program to drive logistics innovation for partners.
Muthoot Microfin reduces lending rates for third time in 2024.
Mphasis opens Cyber Fusion Center in Bangalore to enhance cybersecurity.
Royal Enfield opens new assembly plant in Thailand, boosting expansion.
Nazara and Lysto launch blockchain-based marketing platform, The Growth Protocol.
Hero MotoCorp launches Vida V2 electric scooters in 3 variants.
CarTrade Tech's platforms CarWale, BikeWale, and OLX India hit 150 million unique users.
Bharat Forge approves QIP, sets floor price at INR 1,323.54.
Eugia Pharma gets USFDA approval for Pazopanib Tablets, 200 mg.
Afcons completes longest tunneling drive for DMRC in Delhi Metro Phase-4.
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Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This weekly update highlights market trends and upcoming events for your awareness. It does not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.