Weekly Market Analysis for December 16 to 20, 2024

What happened last week?

Nifty closed last week at 24768, up 0.9% over the previous week.

Nifty made a higher low last week but did not make a higher high. This indicates a pause in the recovery.

24870 is the key level to watch in the coming week. If price breaks 24870 on the upside, the uptrend might continue further.

Broader market Indices (Next 50, Midcap, Smallcap) mostly ended the week in red.

IT large caps, Railways, Textiles, EMS (Electronics Manufacturing Services) continued their good momentum.

FIIs sold ₹226 Cr and DIIs bought ₹2880 Cr in the cash market last week.

FIIs have significantly reduced their shorts on Index Derivatives from previous week.

They have also added longs on Stock Derivatives. FII sentiment is Bullish.

Nifty Sentiment Analysis…

Weekly and Monthly Max Pain remained largely unchanged last week.

Nifty Sentiment in the short term is more on on Neutral to Bullish side.

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?

• India's November CPI inflation eases to 5.48% from 6.21%, with food inflation dropping to 9.04%, suggesting potential RBI rate cut delays.

• Zomato's Blinkit launches 10-minute food delivery service Bistro in Delhi-NCR, competing with Zepto Cafe and Swiggy Bolt.

• Swiggy launches premium membership 'One BLCK' at ₹299/3 months, offering unlimited deliveries and exclusive perks.

• Railway stocks surge after Cabinet approves ₹7,927 crore multitracking projects.

• Coca-Cola sells 40% stake in Indian bottling arm HCCBL to Jubilant Bhartia Group for ₹10,000 crore.

• Amazon enters quick commerce with 15-minute delivery service "TEZ" in Bengaluru, joining India's ₹6 billion Q-Commerce market.

• LIC increases Asian Paints stake to 7%, reduces Lupin holdings to 2.5%, and marginally increases Hindalco stake.

• SEBI expands T+0 settlement to 500 stocks starting January 2025, implementing monthly rollouts of 100 stocks each.

• Google offers free Maps APIs worth $6,800 monthly to Indian developers from March 2025, challenging MapMyIndia and Ola Maps.

• Air India orders 100 additional Airbus aircraft, becoming first Indian carrier to operate A350s on international routes.

• Car manufacturers announce up to 4% price hikes from January 2025, with Maruti leading and luxury brands following suit.

• Motilal Oswal halts new SIP registrations for S&P 500 and Nasdaq 100 Fund of Funds.

• Options traders must exit positions before December 24 for BankNifty and December 26 for Nifty due to lot size changes.

• SEBI proposes framework for retail algorithmic trading through registered brokers, classifying algos into white and black box categories.

• PPFAS Mutual Fund increases stakes in utilities and private banks while reducing exposure to capital markets companies.

Note: Click on the links above to read more about them in our research platform.

Key Upcoming Events

December 16 (Monday):

• India Manufacturing PMI Flash

• India WPI Inflation

December 19 (Thursday):

• US Fed Policy

• BoJ Interest Rate Decision

Key Stock Announcements from Last week

New Orders & Projects:

• HAL secures INR 13,500 crore contract to produce 12 Su-30MKI aircraft with 62.6% indigenous content.

• Welspun secures INR 7,000 crore USA pipeline orders for FY25-26.

• Shakti Pumps secures INR 754.30 crore empanelment for 25,000 solar pumps from MSEDCL.

• BEL secures INR 634 crore orders for Akash missile, communication equipment.

• NBCC awarded INR 432 crore contract by Central University of Odisha for Net Zero campus.

• Astra Microwave JV with Rafael secures INR 255.88 crore defense order for Su-30 avionics systems.

• Saakshi Medtech awarded INR 250 crore contract to supply EV panels by Mahindra.

• Teerth Gopicon secures INR 236.81 crore Rajasthan rooftop solar project.

• NESCO awarded INR 200 crore, 30-year lease for Hyderabad-Vizag amenities project.

• BEML secures INR 136 crore contract for High Mobility Vehicles from Ministry of Defence.

• RVNL secures INR 110.86 crore Southern Railway contract for Chennai block signaling.

• VPRPL secures INR 102.93 crore railway contract for Ajmer-Chanderiya doubling.

• Bajel Projects secures INR 91.4 crore EPC contract for 400/220KV Solapur substation.

• AVG Logistics secures INR 90 crore, 3-year cement logistics contract, marking strategic industry expansion.

• RITES emerges top bidder for Guyana highway engineering project, USD 9.71 mn.

• BEML secures INR 83.51 crore order for 50-ton trailer supply from the Ministry of Defence.

• L&T-Cloudfiniti secures 10-year contract for 6 MW IT load at Sriperumbudur data center.

• Australian Premium Solar receives INR 56.53 crore domestic solar panels order.

• Mason Infratech secures INR 50.61 crore order from Equinox India.

• APS secures INR 36.44 crore orders for solar panels and inverters.

• Solex Energy receives INR 29.01 core order from Zodiac Energy for 20 MW solar modules.

• Aayush Wellness secures first export order worth USD 3 mn from Singapore’s Cosmos Holdings.

• Tantia Constructions secures INR 23.25 crore contract from Braithwaite Burn and Jessop for railway overbridge.

• Dee Development secures international order for prefabricated pipe spools worth USD 16.5 mn.

• RailTel secures INR 16.22 crore EPFO order for MPLS services.

• Roto Rudra secures 400 solar pumping orders globally, driving sustainability.

• Waaree Energies receives 1 GW solar module supply order from India.

• Zaggle enters 3-year partnership with HDFC for bundled credit card services.

• Tejas Networks partners with Vodafone Idea to expand 4G/5G backhaul.

• One Point One Solutions partners with Everest Fleet to enhance driver recruitment efforts.

• Aurionpro wins contract with Saudi bank to modernize corporate banking using iCashpro+.

• ACME Solar secures 250 MW FDRE project in NHPC renewable auction.

Partnerships, Acquisitions & Investments:

• Suven Pharmaceuticals acquires 56% of NJ Bio for USD 64.4 mn.

• Lumina Datamatics acquires controlling stake in TNQTech to enhance publishing technology.

• Usha Martin expands global reach, solidifies control over USSIL operations.

• Tata Power Renewable Energy and Tivolt partner to expand EV charging for commercial vehicles.

• Rossari Biotech completes acquisition of Unistar Thai Co. Limited.

• Airtel partners with Glance to launch AI-powered interactive smart TV platform.

• Firstsource partners with WebID Group to enhance digital platform safety.

Business Operations:

• Supriya strengthens global presence with Esketamine approval, Atorvastatin patent.

• SBI Card reaches 2 crore cards, showcasing growth and innovation.

• TVS unveils 2025 Ronin, partners with GIVI for premium luggage.

• Paytm sells Stock Acquisition Rights in PayPay for INR 2,364 crore.

• Hyundai Motor India to Install 600 EV Fast Chargers Nationwide.

• Airtel flags 8 bn spam calls, 0.8 bn SMS via AI-driven solution.

• TVS Motor launches TVS iQube 2.2 kWh electric scooter in Sri Lanka.

• Easy Trip diversifies via strategic acquisitions in healthcare, hospitality, education.

• Narayana Hrudayalaya invests USD 1.5 mn in Cayman Integrated Healthcare subsidiary.

• Tata Communications unveils Kaleyra AI, leveraging generative AI for advanced customer interactions and analytics.

• Bharat Forge raises INR 1,650 crore through QIP, oversubscribed by 10X.

• Sarveshwar Foods promotes sustainable agriculture through soil mapping and organic farming.

• Ichnos Glenmark Innovation (IGI) presents ISB 2001 data with 83% response rate.

• STL Digital successfully deploys RISE with SAP S/4HANA Cloud for Vedanta's eight global companies.

• Joyology Beauty by GSSBB launches vibrant, self-expression-driven cosmetics for Zillennials.

• Jazeera Airways’ Annual Contract Value grows 80% with RateGain partnership.

• Swiggy launches One BLCK, exclusive premium membership for enhanced convenience.

• UGRO Capital receives patent for GRO Score, revolutionizing MSME credit access.

• Happiest Minds' Arttha platform drives digital lending growth across emerging economies.

• Siyaram’s launches Cadini Italy Perfumes in India as a debut in the Indian fragrance market.

• Royal Orchid launches Regenta Place Dalhousie, 9th property in Himachal.

• TCS Partners With Landis+Gyr to Deliver Next-Generation Energy Efficiency Solutions.

• Ambuja Cements commissions 200 MW solar project in Khavda.

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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.