- The Nifty and the Sensex saw pressure of selling as the global market uncertainty and the delay in the solution to the trade war between the US and China created uncertainty in the entire market sentiments.
- With economists hinting at a spillage of the fiscal deficit well beyond the 3.3% mark, the Indian markets could come under pressure on Monday. Higher levels could see selling pressure in the market.
- FIIs were net sellers to the tune of (Rs.-687) crores while DFIs bought Rs.123 crore on Friday. FIIs have already sold nearly Rs.3600 crore in the first 9 trading sessions although they have infused half that amount via debt markets.
- Global markets have been under pressure on Friday and the weakness continues ton Monday morning too. Uncertainty over BREXIT continues. SGX Nifty still quotes in positive territory but a lot could depend on global cues.
- The latest results show positive traction for Infosys in terms of margins and immediate benefits of strong rupee may begin to kick in. We stay positive on Infosys with our price target at Rs.750 in one quarter.
- The huge layoffs at JLR UK of nearly 10% of the workforce will be a positive for Tata Motors as it will result in the much-needed cost cutting. We expect the stock to cross the Rs.200 mark during the month of January.
- With LIC’s overall market share in the insurance space falling below the 30% mark, the stage may be ripe for the non-LIC players to reap the quicker growth. We suggest buying SBI Life with upside target of Rs.740 in one quarter.
- Market volumes may be thing due to holidays in many parts of India. Nifty may face resistance at higher levels on profit booking.
