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Last trading day of the year & where will Nifty close?

Good Morning, Everyone, US markets fell yesterday after 6 days of rising, however, the Indian market continues to consolidate yesterday.

The Nifty closed flat at 17203 after opening at 17201, after volatile moves in the day.

17200 has been acting as support multiple times for the last 2 days, which looks good if Nifty can maintain above this level to help raise up further. However, if 17200 is broken towards the downside, we can see markets consolidating again.

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Nifty opened flat and continued sideways movement to close flat yesterday.

Nifty has formed an indecisive candle on the Daily timeframe for the last 2 days, which might give us some clue today on the side that it wishes to take. Let's keep a watch.

All indices except the small-cap were down yesterday.

The Smallcap index was up by 0.18% led by Graphite India which was up by a whopping 19.99%, followed by HEG up 12.68% & INTELLECT up 7.92%. The top losers were BIRLACORPN down 3.35%, IDFC down 3.04%, MCX down 2.08%

The Midcap index was down 0.11%, and top gainers were Coforge up 4.26%, Alkem up 3.62%, AUBANK up 3.03%. And the top losers were IDEA down 3.11%, L&TFH down 1.99%, IRCTC down 1.99%.

The Nifty 50 Index was down 0.06%, and the top gainers were NTPC up 2.68%, INDUSINDBANK up 2.07%, HCLTECH up 1.94%. The losers were Baja Auto down 1.89%, Reliance down 1.6%, JSW steel 1.58%.

Global Markets:

A late slide pulled stocks in the red on Wall Street Thursday, leaving S&P 500 slightly below the record high it set a day earlier. It fell 0.3 percent. The Dow Jones fell 0.2 percent, and tech-heavy Nasdaq fell over 0.2 percent.

Asian shares were trading mixed this morning. MSCI's broadest index of Asia-Pacific shares outside Japan is up over 0.6 percent. Japan's Nikkei index closed 0.4 percent lower Thursday and remained closed for trading Friday. Chinese blue chips were up 0.4 percent. Hong Kong’s HSI rose half a percent. South Korea’s Kospi was also closed on Friday. Elsewhere, Australian shares were down 0.4 percent.

China's factory activity unexpectedly accelerated in December, but only by a small margin, according to an official survey released on Friday, amid disruptions from COVID outbreaks and as the broader economy loses momentum in the fourth quarter.

The official manufacturing Purchasing Manager's Index (PMI) rose to 50.3 from 50.1 in November, data from the National Bureau of Statistics (NBS) showed.

South Korea's factory output in November far outperformed expectations on strong exports orders for cars and chips, government data showed on Thursday.

Industrial production last month increased by a seasonally adjusted 5.1% from October, beating a median 2.5% gain tipped in a Reuters survey as car output soared 11.3%

Indian Market:

Trends on SGX Nifty indicate a positive opening for the index in India with a 13-point gain. As told earlier 17200 will be an important level to watch.

Fast-moving consumer goods (FMCG) makers are bracing for inflation in key inputs in 2022, but expect it to be offset by strong demand for their products in the coming year.

Two major trends in 2022 will be an uptick in discretionary spending and consumer movement towards branded products, several companies in the FMCG sector told Moneycontrol.

“While we expect the overall inflationary trends to continue, the discretionary spends have picked up in the last few quarters. In the last six-eight months, we have seen a good uptick in categories like snacks, juices, premium biscuits, deodorants, and premium soaps. We see this trend continuing in the upcoming year as well,” said an ITC spokesperson.

FII and DII data:

Foreign institutional investors (FIIs) net sold shares worth Rs 986.32 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 577.74 crore in the Indian equity market on December 30

Stock Specific News:

CMS Info Systems | Shares of the company will make a debut on the bourses today. The final issue price is fixed at Rs 216 per share.

State Bank of India | SBI buys a 9.95 percent stake in India International Exchange.

PB Fintech | The company has approved an investment of up to Rs 700 crore in one or more tranches in subsidiary Policybazaar Insurance Brokers during FY22 and FY23, and up to Rs 299.99 crore in subsidiary Paisabazaar Marketing and Consulting.

Power Grid Corporation of India | The company has approved an investment proposal for the expansion of POWERGRID telecom into the data center business and to establish a data center at Manesar at an estimated cost of around Rs 322 crore.

IDFC FIRST Bank | The board of directors of the lender has given an in-principle nod to the merger of IDFC & IDFC Financial Holding Company with IDFC FIRST Bank. The board has formed a committee namely Capital Raise and Corporate Restructuring Committee to work on terms of the proposed merger.

Sterling and Wilson Renewable Energy | The company has approved the preferential allotment of 2.93 crore equity shares, to RNESL at a price of Rs 375 per share, aggregating to Rs 1,099,99 crore. Post the allotment, RNESL will hold a 15.46 stake in the company.

JSW Energy | Life Insurance Corporation of India acquired a 2.01 percent stake in the company through open market transactions, increasing shareholding to 9.01 percent from 7 percent earlier.

Biocon | Subsidiary Biocon Biologics' partner Viatris won US Court decisions on Sanofi appeals for Lantus device patents.

Punjab National Bank | The government has appointed UCO Bank MD & CEO AK Goel as the MD and CEO of Punjab National Bank.

IRB Infrastructure Developers | The Competition Commission of India gives a provisional nod to Cintra's investment in IRB Infrastructure Developers.

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