Indian Market To Open Flat Today Following Mixed Cues From Global Markets, Indicates GIFT Nifty

Summary

The Indian markets showed resilience despite global volatility, with Nifty recovering 200 points after an early gap-down. The key stocks to watch include GD AgraTech's stake acquisition in Creamline Dairy, Bharti Airtel’s partnership with SpaceX, and TCS's acquisition of Happy Homes. The real estate sector outperformed, driven by stocks like Macrotech and Phoenix Mills. In F&O, there’s a mixed sentiment with significant buying in index futures and options, showing a bullish bias. Traders are eyeing key levels for Nifty support at 22,300 and resistance around 22,760, while keeping an eye on global developments and CPI data.

Takeaways

• 😀 Nifty showed strong recovery yesterday after a gap-down opening, closing near the day's high at 22,500 despite global market volatility.
• 😀 Key support level for Nifty is around 22,400-22,450, while resistance is at 22,667, with a range of 22,300 to 22,760 to monitor in today's trading session.
• 😀 ICICI Bank and IndusInd Bank contributed to Nifty Bank's underperformance, while stocks like L&T and Reliance helped lead the recovery in the broader market.
• 😀 The real estate sector saw positive movement, with stocks like Macrotech and Phoenix Mills benefiting from Maharashtra's budget proposals.
• 😀 The Maharashtra budget boost to real estate stocks reflected positively, with Macrotech and Phoenix Mills showing strong performance.
• 😀 GD Agrotech is set to acquire a 48% stake in Creamline Dairy Products for ₹930 crore, which could impact stock movements in the dairy sector.
• 😀 Bharti Airtel's tie-up with SpaceX to bring Starlink's high-speed internet to India is a major development in the telecom space.
• 😀 RVNL emerged as the lowest bidder for an NHI project worth ₹555 crore, a significant win for the infrastructure sector.
• 😀 Reliance Jio added 39 lakh customers in December, while Airtel added 10.3 lakh, indicating growth in the telecom market despite losses from Vodafone Idea.
• 😀 TCS is acquiring Dasida Southern Indian Happy Homes for ₹2,250 crore, a strategic move in the real estate sector.
• 😀 PB Fintech plans to invest ₹696 crore in its healthcare arm, increasing its stake in the company, a key move in the healthcare sector.
• 😀 F&O data indicates heavy buying in index options with FIIs adding long positions in Nifty Futures, while maintaining resistance at 22,760 and support at 22,300.

Q & A

What was the market outlook at the start of the trading session?

At the start of the trading session, there was a lot of global volatility, but the Indian markets showed resilience. Despite a gap-down opening, the Nifty index saw a recovery of 200 points, ending the day near 22,500.

Which stocks led the recovery in yesterday's trading session?

The recovery in yesterday's trading session was led by stocks like ICICI Bank, L&T, and Reliance, which helped lift the Nifty index despite the underperformance of the Nifty Bank.

What was the performance of the Nifty Bank during the session?

The Nifty Bank underperformed during the session, largely due to IndusInd Bank's significant drop. However, the Nifty Bank found support at 47,840 on the downside.

What is the significance of the real estate sector's performance?

The real estate sector saw strong performance, especially after the Maharashtra budget. Stocks like Macrotech and Phoenix Mills showed gains, contributing positively to the market's overall performance.

What are the key levels to watch for the Nifty index?

The key levels to watch for the Nifty index are 22,400-22,450 on the downside, and 22,667 (the previous week's high) on the upside.

What data is expected today, and how could it impact the markets?

Today, the CPI (Consumer Price Index) data will be reported. This data could provide insights into inflation trends in India and globally, influencing market sentiment.

What was the role of foreign institutional investors (FIIs) in yesterday's session?

FIIs were net sellers, offloading over ₹2,800 crores in equities. However, they showed strong buying activity in index futures and options, suggesting a positive outlook in the medium term.

Which stocks are in focus due to corporate developments?

Stocks in focus include GD AgraTe, which is acquiring a 48% stake in Creamline Dairy Products, Airtel, which partnered with SpaceX for Starlink internet, and RVNL, which secured a ₹555 crore NHI project.

What were the key observations in the telecom data?

In the telecom sector, Reliance Jio added 39 lakh customers, Airtel added 10.3 lakh customers, and Vodafone Idea lost 17 lakh customers during the last reported period.

What are the key levels and options to watch in the FNO market?

In the FNO market, key levels for Nifty include 22,300 for support and 22,760 for resistance. Active call options were at 22,900 and 23,000, while put options were at 22,200 and 22,400.