Markets Edge Up Amid Cautious Sentiment!

📰Daily Market Wrap-Up by Stock Whisperers-December 11

Author

thestock whisperers
December 11, 2024

📈 Market Overview:

Summary of the Day's Market Performance

Market Overview

  • Sensex: Gained 16.09 points (+0.02%) to close at 81,526.14.

  • Nifty: Up by 31.75 points (+0.13%) to end at 24,641.80.

  • Midcap and Smallcap Indices: Rose 0.3% each, extending their outperformance.

  • Sectoral Highlights:

    • Gainers: Auto, FMCG, IT, Metal.

    • Losers: PSU Bank (-1%).

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💸 Market Transactions:

  • Foreign Institutional Investors (FII): ₹-1,012.24 crore (Net Sellers)

  • Domestic Institutional Investors (DII): ₹2,007.85 crore (Net Buyers)

Domestic investors provided strong support, offsetting FII outflows.

📊📑 Important Observations and Market Sentiments: Editor Special

  1. Global Influence:

    • Markets remained cautious ahead of the US CPI inflation data, which is expected to influence the Federal Reserve's policy.

    • Strength in the US dollar and rising bond yields added to the caution.

  2. Sectoral Shifts:

    • Defensive sectors like FMCG and pharma saw buying interest.

    • Metals gained on hopes of stimulus measures from China to revive demand.

  3. Mutual Fund Momentum:

    • Equity mutual funds witnessed inflows of ₹35,943 crore in November, despite a 14% decline compared to October.

❓ DO YOU KNOW?

  • What is Anchor Lock-In?

    • During an IPO, anchor investors are institutions that invest before the public offering and are subject to a lock-in period (usually 30 days). Post-lock-in expiry, their selling or holding decisions can influence stock prices.

📰Stock News:

Key Stock Movements and News

  • Top Gainers:
    Trent, Bajaj Finance, Britannia Industries, Shriram Finance, Bajaj Finserv.

  • Top Losers:
    JSW Steel, Adani Ports, NTPC, SBI, Axis Bank.

  1. Swiggy (-4%):

    • Shares dipped amid profit booking post-anchor lock-in expiry.

  2. Kernex Microsystems (+5%):

    • Secured a ₹2,000 crore order from Indian Railways, locking shares in the upper circuit.

  3. HG Infra (+5%):

    • Rallied on winning a ₹763 crore order.

  4. Cement Stocks (+2–4%):

    • Gained as Dalmia Bharat, JK Cement, and Star Cement hiked prices by 4% in December.

  5. Aurionpro Solutions (+8%):

    • Surged after a partnership with a Saudi Arabian bank for its iCashpro+ platform.

  6. Travel Food Services:

    • Filed papers with SEBI to raise ₹2,000 crore via IPO.

Weekly Stock Markets Rundown

December 9-13, 2024

  1. The RBI kept the repo rate unchanged while reducing the CRR rate, signaling cautious optimism about economic recovery in H2 FY25.

  2. Central banks in Australia, Canada, and Europe are set to decide on interest rates, providing critical global market cues.

  3. IPO rush continues, with Vishal Mega Mart, Sai Life Sciences, and One Mobikwik Systems opening for subscription………………….

👀Stocks to Focus:

  • Kernex Microsystems: Strong momentum from a significant Indian Railways order.

  • HG Infra: Growth potential with new project wins.

  • Aurionpro Solutions: Positive outlook after expansion in the Middle East.

  • Cement Sector: Gains from December price hikes suggest a bullish trend.

📝Summary:

Indian markets closed with modest gains, supported by strong DII participation and optimism in specific sectors like metals and FMCG. While global factors like US inflation data and bond yield movements kept markets cautious, broader indices maintained their positive momentum. Key stock-specific movements and mutual fund inflows reflect underlying resilience despite external uncertainties.

😊Thank you for subscribing to our Market Wrap-Up. Stay tuned for tomorrow's update.

Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.

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