12118-12294 CONTINUES TO BE IMMEDIATE RANGE

12118-12294 CONTINUES TO BE IMMEDIATE RANGE

WORLD MARKETS

US indices rose 0.3% each on the last day of the year as well as the decade.

President Donald Trump said he will sign the trade agreement with China on Jan. 15 at the White House.

WTI crude fell 52 cents to $61.16 a barrel. Brent fell a percent to $66.

In Europe, Germany and Italy were shut while FTSE and CAC fell 0.6% and 0.1% respectively.

Earlier, data from China showed official manufacturing Purchasing Managers’ Index (PMI) for December came in slightly above expectations.

For 2019, the S&P 500 and Nasdaq soared 28.9% and 35.2% respectively, their biggest one-year gain since 2013. The Dow rose 22.3% in 2019, its best annual performance since 2017.

WTI crude soared 35% this year, its best annual performance since 2016; Brent crude futures climbed nearly 23%.

AT HOME

Benchmark indices slipped seven tenth of a percent on the last day of the year as well as the decade. Sensex lost 304 points to settle at 41253 while Nifty finished at 12168, down 87 points. BSE mid-cap index ended flat while small-cap index gained 0.4%. BSE Energy index tumbled 1.2%, becoming top loser among the sectoral indices, followed by 0.8% lower Telecom and Auto indices. Utilities and Power indices rose 0.8% and 0.6% respectively, becoming top gainers.

FIIs net sold stocks, index futures and stock futures worth Rs 1265 cr, 692 cr and 1271 cr respectively. DIIs were net buyers to the tune of Rs 585 cr.

Rupee depreciated 7 paise to end at 71.38/$.

For the calendar 2019, Sensex and Nifty gained 14.4% and 12% respectively, extending the winning streak to fourth consecutive year. Nifty mid-cap and small-cap indices however ended with cuts of 4% and 10% respectively, extending the losing streak to second straight year.

Finance Minister Nirmala Sitharaman today unveiled a ₹102 lakh crore national infrastructure pipeline, in accordance with government's vision to make India a $5 trillion economy by 2024-25.

November core sector output contracted by 1.5%, as against contraction of  5.8% seen in October.

OUTLOOK

Most of the world financial markets are shut today.

In yesterday's report we had said that 12294, the top made on 20th December, continued to be immediate hurdle, a crossover of which is required for a fresh upmove. We had also said that 12118, the bottom made last week, continued to be immediate support.

Yesterday, Nifty plunged 87 points to close at 12168.

12118, the bottom made last week, continued to be immediate support, upon breach of which, 34-DMA, placed around 12050, would be the next support.

12294, the top made on 20th December, continues to be immediate hurdle, a crossover of which is required for a fresh upmove.