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MSCI Deletion: Glenmark, Idea, Yes Bank, IndiaBulls Housing Increase in Weightage

MSCI Deletion: Glenmark, Idea, Yes Bank, IndiaBulls Housing Increase in Weightage
November 08
05:26 2019

From Advisory Desk : Vikash Sahay

08th November 2019

Market Outlook : All three indices in United States ended half a percent higher due to statement issued by China about reducing tariff which is a part of trade agreement during first phase. Also, We saw initial sign of bond redemption and moving the funds to US equity market which helped the indices to touch life high.

Asian markets were also trading in green. Moody changed India outlook to negative from stable. The impact was seen in early trade of SGX Nifty which lost 50 points but its still holding above 12000 level. FIIs have silently bought stocks in Indian market worth Rs 2800 cr in the ongoing month. We see that Nifty is holding at current level, before breaking the life high. Hence, we expect the Nifty to be in range of 11800 – 12100. The MSCI index changes will be effective from 26-November.

MSCI Global Index update:
MSCI Addition: ICICI Prudential, HDFC AMC, SBI life, Berger Paints, Colgate, Siemens, Info Edge, DLF
MSCI Deletion: Glenmark, Idea, Yes Bank, IndiaBulls Housing
Increase in Weightage: ICICI Bank & ICICI Lombard.

Actionable: Buy ICICI bank & Berge Paints.

Results announced:
Above Estimate: IGL, IPCA Labs, Whirlpool
In line with estimate: Sun Pharma, BPCL
Below Estimate: HPCL, UBL, UPL

Today’s Result: M&M, Ashok Leyland, Bank Of Baroda, Eicher Motors, Allahabad Bank, Allcargo Logistics, Bharat Forge, Equitas Holdings, Gail,IDBI Bank.

Global market:
DOW: +182
SGX NIFTY: -58 (prev.close 12058)
NIFTY 50 : 12012
Sensex : 40653

Institution:
FII: +927 Cr
DII: -636 Cr

Currency:
Dollar: $ 71.04

Commodity:
Gold: $1469 per ounce
Crude: $62.17 per barrel

Bonds:
10 year US bond rate: 1.93
10 year Indian Bond rate: 6.50

Updates :

India’s credit rating outlook cut to negative from stable and affirms Baa2 by Moody’s investor service due to growing concerns on revival of economic growth.

Derivative View – VIX closed at 15.20. Max Put OI is at 11900 then 11800 strike while Max Call OI is at 12000 then 12300 strike. Option data suggests a broader trading range in between 11800 to 12200 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 Dabur, Ultratech Cement & ICICI Bank

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Novelty Fashion Mall
Fly Kitchen
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Swastik Tiles
Reshika Boutique
Paul Opticals
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Krsna Restaurant
Motilal Oswal
Chotanagpur Handloom
Kamalia Sales
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Raymond

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