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Auto sector : Finance minister said that the government cannot take singularly decision of GST rate cut .

Auto sector : Finance minister said that the government cannot take singularly decision of GST rate cut .
September 11
05:27 2019
Vikash Sahay

Vikash Sahay

From Advisory Desk ; Vikash Sahay

11 September 2019 , Market outlook : US markets closed positive yesterday after erasing the early losses . European markets closed flat as they await the outcome of ECB policy meet on Thursday .

Taking cues from global markets , Asian markets are also trading positive . Crude prices rallied after larger than expected drop in US stock pile while gold dropped to $1500 per ounce .

Motilal Oswal

On the domestic front nifty is likely to flat with positive bias and would be trading in the range of 10950 to 11111 . Till it hold the lower level of trading range we can see some bounce towards 11150 levels .

Corporate action : Reliance Nippon Life Asset Management: Reliance capital to sell up to 1.93 crore shares The offer opens today for non-retail investors. The sale for retail investors will open on Sept. 12.

Actionable : Bata India , ICICI Pru .

Global market:
DOW: +73
SGX NIFTY: +43
NIFTY 50 : 11003
Sensex : 37145

Institution:
FII: -188 Cr
DII: +686 Cr

Currency:
Dollar: $ 71.87

Commodity:
Gold: $1500 per ounce
Crude: $62.66 per barrel

Bonds:
10 year US bond rate: 1.73
10 year Indian Bond rate: 6.57

Updates :
As per media reports Yes bank co-founder Mr Rana Kapoor is in talk to sell his 9.6 % stake to Paytm founder for approx Re 2000 Cr .Companies CEO Mr Ravneet Gill also said that company in talks with a tech giant to sell a minority stake as a part of fund raising . And company later clarified that both the above news are speculative in nature .

Indiabulls Real Estate : Company to sell stake in four JV Cos, commercial assets an aggregate equity value of Rs 4420 crore to The Blackstone Group. Stake sale will help achieve the company its target of being zero net debt.

Auto sector : Finance minister said that the government cannot take singularly decision of GST rate cut . It is for the GST council to decide . Rate cut less likely in the GST council meet to be held on 20th September .

Derivative View – VIX closed at 15.85. Max Put OI is at 10900 then 10800 strike while Max Call OI is at 11100 then 11200 strike. Option data suggests a trading range in between 10800 to 11200 zone.

 

Vikash Ranjan Sahay, Founder & CEO , Value Management Solution P Ltd, (Exclusive Business Partner of MotiLal Oswal)

Mr. Vikash Sahay can be contacted at +91 9471133334

Actionable : Buy ICICI Pru , HDFC bank .

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