- The Nifty has gained nearly 13.2% during the year and the Sensex has gained closer to 15%. That will go down as a good year although the major action has been concentrated only in the very large cap stocks.
- The sharply rally in oil prices could pose a problem for the Indian markets as oil has now reached closer to $70/bbl in the Brent Crude market. Middle East situation is getting geopolitically sensitive and that is not great news.
- FPIs were net sellers to the tune of Rs.131 crore while DFIs bought Rs.201 crore on Monday. The year 2019 is likely to end with FII inflows overall to the tune of Rs.92,000 crore and that should set the trend for the New Year.
- US markets and the European markets came under some degree of pressure on Monday and the SGX Nifty is also under pressure in nearly trades on Tuesday. Most of Asia is in the negative and that is likely to rub off on the Indian markets too.
- We are just holding on to our old calls and not giving out any fresh calls for the day. We will allow the year ending adjustments to be made by the fund managers and then take a fresh view on stocks in the next year.
- Markets are likely to be under pressure due to global cues although the year-end adjustments may be the theme on Tuesday. We suggest staying light on the last day as volatility may be the theme. We can take a fresh view on Wednesday.
