In the Indian stock market, NSE continued its record-breaking run for the seventh trading session, and BSE touched a new height by crossing the 46 thousand mark amid positive global cues. This news is enough to thrill investors who would be interested in learning the trade setup for December.
After the equity market indices experienced a massive fall during March-April, the market took giant strides to cover the lost ground. Fueled by the glut of liquidity and positive global market indications, the Indian stock market registered a robust performance in December so far. NIFTY climbed up straight for five days in a row and closed 136 points higher on December 9. BSE SENSEX rose by 495 points or 1.09 percent to close at 46,103.50.
The major contributor to the market remained the foreign portfolio investors, who continued to hold their strong position. In December also FII money continued to flow in with Rs 14000 crores in investment purchase. However, domestic traders during the same period have sold equities worth Rs 11500 crores.
“The overall structure of the market continues to remain positive given abundant liquidity, developments on the vaccine front and signs of economic recovery,” commented Siddhartha Khemka, Head of Retail Research in Motilal Oswal Financial Services.
As for the market indices, Nifty and major sub-indices, all traded in green.
Nifty mid-cap continued to rally for eight days straight, although closed a notch lower than day’s high. PSU banks remained in focus and surged by 7 percent to register the best daily performance since June. In December, the bank index has already gained more than 20 percent.
On Wednesday, the market opened on a positive note, gained during the day, and closed, setting another first-time record.
Foreign investors remained the main driving force in the market. They invested Rs 2910 crore in Indian equity on a provisional basis and sold Rs 994 crores in the F&O market. Domestic investors sold Rs 2641 crores in the cash market. FII investors also reduced net long in index future to 75 percent compared to 76 percent the day before.
Now that you know what the trade set up for December looks like, you can carefully execute your investment plans for the month.
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