InvestorQ : How do you see the stock markets on 16-December and do you see the Nifty give some respite today?
ishika Banerjee made post

How do you see the stock markets on 16-December and do you see the Nifty give some respite today?

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diksha shah answered.
5 months ago
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Let us look at the stock market performance on Wednesday, 15th December. Nifty closed a full 103 points lower, and this marks the fourth successive day of negative returns on the Nifty. The advance decline was at 14:36 with financials from the Bajaj group under the maximum pressure. There is uncertainty ahead of the Fed statement and its implications.

The 15-Decembe was also closely watched for the expected anchor selling on Paytm due to the completion of the anchor lock-in period. While Paytm fell as much as 13.3% at one point, it recovered losses from lower levels. However, Nykaa registered smart gains post the deal with L Oreal and with as the anchor selling abated on the counter.

The big news was the heavy selling by foreign investors who were net sellers to the tune of Rs.3,407 crore even as local MFs and insurances bought stocks worth Rs.1,553 crore on Wednesday. Chunk of the FPI selling came from anchor selling of Paytm as was evident in the massive gross selling figure for FPIs and the high volumes on Paytm counter.

In terms of global markets, Dow was flat but NASDAQ lost nearly 100 bps. FTSE was weak but CAC and DAX closed with gains. However, the SGX Nifty is 40 bps lower in early trades and the pressure is likely to continue. Unless the Fed tack is suddenly dovish, the pressure on Indian markets is set to continue.

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