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US markets hit an all-time high! What's in store for India today?

Good Morning, Everyone, We are seeing the continuation of the Santa Claus rally as the US market has hit a record high yesterday. The European market is also positive.

FII selling has also been reduced.

With all these global cues, we could see Nifty recovering strongly after an initial fall yesterday and closed above 17000 strongly at 17086.

With the all-around positivity, we might see some positive movements today, and we can look forward to 17200 as a resistance on the upper level and 17000 can act as a support on the lower side. We can probably see the Nifty moving between 17000 and 17400 this week.

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On the daily timeframe, Nifty has formed a strong bullish candle.

Global Markets:

Stocks closed higher on Wall Street Monday as S&P 500 notched another record high, rising over 1.5 percent. The Dow Jones rose over 1 percent, and tech-heavy Nasdaq was up 1.4 percent.

Asian shares were trading mixed this morning following S&P 500 as it notched another record high. MSCI's broadest index of Asia-Pacific shares outside Japan was flat but green. Japan's Nikkei index surged over 1 percent. Chinese blue chips were flat but down. Hong Kong’s HSI declined 0.3 percent. South Korea’s Kospi was up 0.02 percent. Elsewhere, Australian shares rose over 0.4 percent.

Profits at China’s industrial firms grew at a much slower pace in November, the statistics bureau said on Monday, pressured by tumbling prices of some raw materials, a faltering property market, and weaker consumer demand.

Indian Market:

Trends on the SGX Nifty indicate a positive open to Nifty today.

The country’s exports rose by 36.2 percent to $23.82 billion during December 1-21 this year, according to preliminary data of the commerce ministry. Exports, excluding petroleum, have increased by 28.08 percent during the period under review.

“The value of export is $23.82 billion, up by 36.20 percent over the same period of 2020-21 ($17.49 billion) and up by 27.70 percent over the same period of 2019-20 ($18.65 billion),” it said.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,038.25 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 955.79 crore in the Indian equity market on December 27

Stock Specific News:

Supriya Lifescience | The company will make its debut on the bourses today. The final issue price is fixed at Rs 274 per share.

RBL Bank | The bank has signed an agreement with Bajaj Finance for the extension of the partnership of co-branded credit cards for a period of 5 years to December 2026.

Paras Defence and Space Technologies | The company has bagged an order from the Development Establishment and Defence Research and Development Organization (DRDO). Paras Defence will handle the technology of Border Surveillance Systems as developed by Instruments Research and DRDO.

Gokaldas Exports | ICRA has upgraded the long-term rating for the captioned Line of Credit (LoC) of the company to A- (positive) from BBB (stable). Similarly, the rating agency has upgraded the short-term rating for the captioned LOC to A2+ from A3+.

Shyam Metalics and Energy | The company announced 20 percent increase in sponge iron manufacturing capacity.

Maharashtra Seamless | The company has bagged orders worth Rs 150.70 crore from PSU companies for the supply of ERW and seamless pipes.

Indian Hotels Company | Tata Group hospitality arm Indian Hotels Company on Monday said that hotel bookings have slowed down for January and February 2022.

GR Infraprojects | The Provisional Completion certificate has been issued by the Independent Engineer for the development of Purvanchal Expressway (Package-VII) from Mojrapur to Bijaura (Ghazipur) in Uttar Pradesh on an EPC basis and has declared the project fit for entry into commercial operation.

Siemens | A joint venture between TRIL Urban Transport, a Tata Group company, and Siemens Project Ventures, a subsidiary of Siemens Financial Services, under a public-private partnership route (PPP) will develop the metro corridor from Hinjewadi to Shivajinagar, Pune. The joint venture has formed a special purpose company called Pune IT City Metro Rail.

Cosmo Films | The company should be able to close FY22 with a Rs 3,000 crore topline, said Pankaj Poddar, CEO of Cosmo Films.

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