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The bulls are back! FIIs buy for more than 900 cr. Is the trend here to stay?

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Yesterday, Nifty opened with a gap-up at 17387 and saw an instant bull run to touch a high of 17646 and finally closing at 17625. We saw major power coming in from Banks, Financial service sector and metals.

The good news we can see as of now is that the FIIs have finally done some big buying before the result season starts. Will this continue is the big question.

As of now 17400 will act as a good support on the lower side, and on the higher side we can see 17650 as the major resistance.

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On the daily time frame we can see that big bullish candle, but it has just reached a major resistance. We need to watch if it can actually go higher from here, which can lead to 18000 levels.

Every Index was up today, majorly led by the Small cap and large cap.

The Smallcap sector was up 1.57% led by BALAMINES up by 9.77%, ANURAS up 5.88%, BSOFT up 4.32% and the top losers were DBL down 2.43%, JBCHEPHARM down by 1.78%, RADICO down 1.31%.

The Midcap sector was up 1.35% led by FEDERALBNK up 5.12%, ASHOKLEY up 4.04%, MFSL up 3.78%. The top losers were UBL down 1.59%, TRENT down 1.16%, GLENMARK down 0.81%.

The Nifty 50 was up 1.57% led by COALINDIA up by 6.37%, EICHERMOT up 4.65%, BAJFINANCE up 3.55%. The top losers were CIPLA down 1.31%, DRREDDY down 1.02%, M&M down o.82%.

Global Markets:

Wall Street got 2022 off a solid start with more record highs for S&P 500 and Dow Jones. S&P rose over 0.6 percent Monday. The Dow Jones rose 0.7 percent, and the tech-heavy Nasdaq advanced over 1 percent.

Asian shares were trading higher this morning, following gains overnight stateside. MSCI's broadest index of Asia-Pacific shares outside Japan is up over 0.4 percent. Shares in Japan advanced over 1.5 percent. Chinese blue chips were flat. Hong Kong’s HSI was up over half a percent. South Korea’s Kospi declined 0.05 percent. Elsewhere in Australia, stocks rose over 1.5 percent.

Indian Market:

Trends on the SGX nifty indicate a flat start to Nifty today.

Commerce Minister Piyush Goyal on Monday said India's exports in December surged 37 percent on an annual basis to USD 37.29 billion, which is the highest-ever monthly figure.

In Budget 2022, the Centre is likely to propose an amendment to the Special Economic Zone (SEZ) Act to reduce the compliance burden and allow companies operating within the conclaves to sell products in the domestic market without additional customs duty.

The unemployment rate in the country touched a four-month high of 7.91 percent in December 2021, data from the Centre for Monitoring Indian Economy (CMIE) showed.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 902.64 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 803.11 crore in the Indian equity market on January 3

Stock Specific News:

Marico | The FMCG player reported double-digit revenue growth in the December quarter. Consumption was seen slowing in the entire sector with inflation impacting disposable incomes.

Lemon Tree Hotels | Goldman Sachs (Singapore) Pte has bought 30 lakh shares, representing 0.38 percent stake in Lemon Tree Hotels, from Zaaba Pan Asia Master Fund through a block deal on BSE on Monday.

Granules India | The company's board has appointed Kandiraju Venkata Sitaram Rao as joint managing director and the chief executive officer from January 5.

Karnataka Bank | The bank's deposits rose 6.3 percent YoY as of December 31 and gross loans were up 5 percent.

Dilip Buildcon | The company bagged an order worth Rs 2,680 crore from the Coal India subsidiary.

Housing Development Finance Corporation | The company has assigned loans worth Rs 7,470 crore in Oct-Dec against Rs 7,080 crore in the corresponding period last year.

Ajmera Realty | The company secured a residential redevelopment project in Juhu, Mumbai.

Oil and Natural Gas Company | Alka Mittal, the incumbent HR director in ONGC, is announced as the company's new chairman and managing director.

Shree Rama Newsprint | The company has signed an agreement with the Gujarat Government. The agreement is for venturing into starch and its derivatives and allied products manufacturing.

Pfizer | The US Food and Drug Administration has approved the use of the Pfizer-BioNTech COVID-19 vaccine for those aged 12-15 years, and also allowed a third primary series dose of the vaccine for certain immunocompromised children aged 5-11 years.

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