On January 5, 2018- The nifty opened at 10,534 then rose to a fresh high of 10,566.10 low of 10,520 and in the end closed at 10,558 thus making a significant up by 54 points. The day was majorly ruled by bullish bear’s and in the end pushed the market to all time close of above 10,550.

According to pivot charts, Key support is at 10,530 followed by 10,502 and key resistance is at 10,576 and 10,594.

Important news for the day:

1) The Securities and Exchange Board of India proposal of disclosing a loan default within a day by listed companies is unlikely to be implemented with both government and Reserve Bank of India not keen on such measures.

2) The Finance Ministry has asked state run banks to provide special packages for SMEs ( Small and Medium Enterprises), especially those under stress.

3) Real Estate Developers, TATA Housing and the Lodha Group has filed initial bids for debt laden realtor and road builder Jaypee Infratech.

4) Canadian institutional investor Brookfield Asset Management is set to buy Essar’s Equinox Office Complex for 2450 Crores.

5) In 2017, Maruti Suzuki outpaced the domestic market with its total sales growing 14.9% to touch 1,602,252 units.

6) India will likely grow at 6.5 percent in 2017-18, slower than the previous year’s 7.1 percent expansion, however a rebound in household spendings and corporate investors held out hopes of rapid recovery from the twin disruptions of demonetisation and Goods and Service Tax (GST).

7) The Centre’s move to recapitalise public sector banks (PSBs) has resulted in a surge in credit growth, which is a sign of revival of public sector investment in the country.

8) Credit growth grew in double digits at 10.65 percent and at 80,96,727 Crores in the fortnight ended December 22,2017 due to the base effect. 

9) BSE to auction investment limits for 6.6K Cr government bonds today..

10) In 2017, The FPIs net inflows at 1.15 Lakh Crores in Debt Market