Benchmark Indexes have been sluggish last week, with nifty trying to sustain over 12,000 and ultimately losing it on Friday. Huge call writing was seen around 12000 levels which indicate the sluggish movement around 12K to continue.
The coming week following events will dictate the market trend:

1.     US - China Trade deal: The first phase of trade deal between US & China should be signed by the end of the next week. US Indices closed strong on Friday anticipating favourable outcome.

The governments of the world's largest economies have levied billions of dollars of tariffs on each other's imports which has dragged on for more than a year, roiling financial markets and threatening to push other economies into recession.

2.     Brexit: On 12th December voters in U.K will be heading to decide the path for Britain’s exit from the European Union.

Three and a half years have passed since the national referendum on June 23, 2016. Yet the outcome of the United Kingdom's decision to leave the European Union, or Brexit, remains undetermined.

3.     Macro-data: IIP & Manufacturing data for the Month of October& CPI Inflation for November will roll out this week. IIP is expected to be lower due to consistent weakness in the major sectors. CPI Inflation is going t inch upwards due to food inflation.

After its policy meeting on December 5, RBI raised its CPI inflation projection upwards to 5.1- 4.7 percent for second half FY20, but downwards to 4-3.8 percent for the first half of FY 21.

4.     Oil Prices: Brent crude rallied more than 3 percent after OPEC members agreed for additional 5,00,000 bpd for the first quarter of 2020. The reason behind this move is the group expected the demand slowdown in the first half of 2020 and US continue with its expansion plans.

5.     IPO: The initial public offering of Ujjivan Small Finance Bank was subscribed 166 times on the last day of the share sale overtaking IRCTC as the most subscribed IPO of 2019. The stock, if experts are believed should list with a premium of around 50 Percent.

Also we will have Fed Policy Meet, no change is expected in interest rates after three rate cuts this year, however Investors would be closely monitoring it for the expected trend of the global interest rates next year. European Central Bank (ECB) will also announce its interest rate decision on Thursday, 12 December 2019.

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