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🇺🇸 Market end mixed as investors shake off Fed’s inflation warning!
Key Markets
#DowJones +0.25%
#Nasdaq -0.06%
S&P500 +0.16%
Chipmaker Advanced Micro Devices -4.3% after a downgrade by HSBC
Minutes released from the Fed’s December meeting reflected that nearly all committee participants found that upside risks to the inflation outlook had increased 😲
Fed Talk 🎙️
But Fed Governor Christopher Waller said on Wednesday that inflation should continue to fall in 2025 and allow the U.S. central bank to further reduce interest rates, though at an uncertain pace 🤞
Data on the U.S. labor market was conflicting
👉 ADP National Employment Report showed U.S. private payrolls growth slowed sharply in December to 122,000, vs 146,000 in the prior month vs forecast a gain of 140,000.
👉 Weekly initial jobless claims fell to an 11-month low of 201,000 vs estimated 218,000
Key Economic Data to track 👉 Friday’s December payrolls report
Yields & Dollar Index continued to move up as report suggested that President-elect Donald Trump was contemplating the use of emergency measures to allow for a new tariff program.
Other Asset Classes
🇺🇸 10 year yield at 4.68%
💲 Dollar Index 109
⛽️ Brent Crude 76.2$/barrel
💸 Bitcoin 95000$
🪙 Gold $2,659/ounce
INTRADAY CALL UPDATE : BOOK PROFITS IN BANKNIFTY CALL OPT 49600 30JAN SER AT 1115 TARGET HIT RECO LONGS GIVEN AT 1000
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INTRADAY CALL UPDATE : BOOK PROFITS IN NIFTY PUT OPT 23650 09JAN SER AT 158 RECO LONGS GIVEN AT 111
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INTRADAY BUY NIFTY PUT OPT 23650 09JAN SER AT 111,SL-64,TRGT-225
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INTRADAY CALL UPDATE : BOOK PROFITS IN UNOMINDA AT 1078 RECO LONGS GIVEN AT 1060
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BTST CALL UPDATE : CLOSE POSITIONS IN INDUSINBANK AT 977
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LAST DAY OF IPO : Standard Glass Lining IPO Details : Issue Date : 06 JAN-2025 to 08 JAN-2025 Offer Price : 133-140 per equity share. Lot Size : 107 shares
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BTST CALL UPDATE : BOOK PROFITS IN DATAPATTNS AT 2443 RECO LONGS GIVEN AT 2385
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*News Headlines from Business News Agencies:*
*Business Standard*
📝 Centre notifies procedure for export of certified organic products
📝 JSW Group in talks to acquire Everstone Capital's 8% stake in MG India
📝 Signature Global names Sanjeev Kumar Sharma as its chief financial officer
📝 Vodafone Idea planning phased 5G rollout with new tariff plans: CEO Moondra
📝 Tesla supplier Panasonic Energy to cut dependence on China for EV batteries
📝 Auto retail sales dip 12% in December despite a good show in CY 2024
📝 Race to acquire Haldiram Snacks: Temasek secures term sheet, leads bid
📝 Housing sales up 7% in 2024 across top 8 cities at 350K units: Knight Frank
📝 IT company HCLTech marginally hikes salaries of junior-level employees
📝 Freight rates up 11% in two weeks over Christmas and New Year rush
📝 Big four's Indian arms outpace global counterparts in FY24 revenue growth
📝 FinMin to hold meeting with MFI players on Wed amid rising bad loans
*Economic Times*
📝 Alkem Laboratories to sell Pithampur unit for Rs 149 crore
📝 Exim Bank said to have raised over $750 million via 10-year bonds
📝 Maruti Suzuki unveils ‘e For Me’: A vision for India’s electric future
📝 India poised to be healthcare custodian of world, says Torrent's Samir Mehta
📝 Akasa Air appointed Belson Coutinho as the chief operating officer
📝 Gems, jewellery sector urges govt to reduce GST to 1% in upcoming Budget
📝 Indian diamond exports hit by slump in Chinese demand, HMPV concerns add to uncertainty
📝 Indian banks' profitability to moderate in FY26, India Ratings says
📝 Wagh Bakri Tea to invest Rs 100 cr for setting up new manufacturing unit in Gujarat
📝 Botanic Healthcare raises Rs 250 crore from Stakeboat Capital & other investors
📝 GFGNL to deliver 25000 fiber to home connections in rural areas for greater internet connectivity
📝 Zydus Lifesciences joins hands with CVS Caremark for diabetes drugs template formulary
*Mint*
📝 India's GDP growth likely to grow by four-year low of 6.4% in FY25: Govt est
📝 Microsoft plans to invest $3 billion on AI, cloud infrastructure in India
📝 L&T's power transmission arm wins large orders in India, Saudi Arabia
📝 ASK Property Fund, India Sotheby's to launch first luxury real estate fund
📝 Government targets 4.5% fiscal deficit by FY26
📝 India’s central bank should lead the policy easing cycle that its economy needs
📝 Space race: Toyota invests $44 million in Japanese rocket startup
📝 Mobikwik Q2 results: Firm posts loss of ₹3.5 cr vs profit YoY, revenue at ₹291 cr
📝 Duty cut on smartphone parts to hit electronics ecosystem, trigger job loss: GTRI
📝 Nvidia CEO pitches robotics, cars as growth areas to CES audience
📝 Globe Capacitors Partners with PolyCharge to Bring NanoLam™️ Technology to India
New additions in FNO market from February 2025 series , effective from January 31, 2025
Castrol India
Gland pharma
NBCC
Phoenix Mills
Solar Industries
Torrent Power
🇮🇳The Indian economy is slowing down.
🇮🇳India’s GDP Growth Likely Slowed To 6.4% In FY25 Compared To 8.2% in FY24 as per the Government Estimates
🇮🇳This is a 4 year low in growth
🇮🇳This is also the slowest annual GDP growth rate since the pandemic, when it fell down to -5.8% during the financial year 2020-21.
INTRADAY CALL UPDATE : BOOK PROFITS IN AXISBANK AT 1079 RECO LONGS GIVEN AT 1070
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INTRADAY BUY BANKNIFTY CALL OPT 49600 30JAN SER AT 1000,SL-919,TRGT-1111
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DID U KNOW : 🇺🇸 US government debt
January, 2005: $7.3 trillion
January, 2009: $11.9 trillion
January, 2014: $17.3 trillion
January, 2019: $21.9 trillion
January, 2024: $34 trillion
January, 2025: $36.3 trillion
INTRADAY CALL UPDATE : BOOK PROFITS IN BANKNIFTY PUT OPT 49900 30JAN SER AT 858 RECO LONGS GIVEN AT 747
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INTRADAY BUY BANKNIFTY PUT OPT 49900 30JAN SER AT 747,SL-636,TRGT-999
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INTRADAY CALL UPDATE : BOOK PROFITS IN RELIANCE IND AT 1270 RECO LONGS GIVEN AT 1258
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INTRADAY BUY RELIANCE IND AT 1258,SL-1247,TRGT-1277
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DAY 2 OF IPO : Quadrant Future Tek IPO Details : Issue Date : 07 JAN-2025 to 09 JAN-2025 Offer Price : 275-290 per equity share. Lot Size : 50 shares
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BTST CALL UPDATE : BOOK PROFITS IN OIL INDIA AT 479 RECO LONGS GIVEN AT 470
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Securities in Ban For Trade Date 08-JAN-2025:
1 BANDHANBNK
2 HINDCOPPER
3 MANAPPURAM
4 RBLBANK
🇺🇸 Markets decline as megacap tech slip & strong economic data leads to fears on Fed rate action. Uncertainity on Trump 2.0 adds to nervousness!
🇺🇸 Markets on Tuesday
#DowJones -0.4%
#Nasdaq -1.9%
S&P500 -1.1%
Economic Data Strong
💪 (ISM) Institute for Supply Management’s non-manufacturing (PMI) increased to 54.1 last month from 52.1 in November
💪 Job openings rose 259,000 to 8.098 million by the last day of November.
Source: JOLTS report
Stronger economic data makes market nervous on Fed rate action
👉 U.S. rate futures market have priced in a 95% chance of a pause in rate cuts this month
👉 Futures have implied just 37 basis points of cuts in 2025 vs 2 cuts expected under the Fed’s “dot plot” or rate forecasts
Another fear is incoming Trump administration’s tariff plans could boost inflation 😱
Reaction to strong eco data: 10-year Treasury yields jumped to 4.69%, highest level since April
Big Losers
👎 Nvidia -6.2% from record highs
👎 Tesla -4% after Bank of America downgraded the electric vehicle maker given its high valuation & risks associated
👎 Meta Platforms -2%
Other Assets
💲 Dollar index jumps to 108.55
🪙 Gold +0.5% at $2,647/ounce
⛽️ Brent Crude at 77$/barrel
💸 Bitcoin slips to 97100$
Flows in Cash Market on 7th January 2025
👎 FII net sold ₹1491 cr
👍 DII net bought ₹1615 cr