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PSU Banks Merger – Announced merger of small banks with mid and mega banks.

PSU Banks Merger – Announced merger of small banks with mid and mega banks.
September 03
05:18 2019
Vikash Sahay

Vikash Sahay

From Advisory Desk ; Vikash Sahay 

3rd September 2019: Market Outlook : Global Markets were negative after US government rejected China’s request to defer the tariff hike and as per media reports US and Chinese government are unable to schedule a meeting for trade talks this month.

Motilal Oswal

On the domestic front India’s 1QFY20 GDP growth came at 5%, which was the slowest in the last 6 years. Manufacturing PMI index also fell to 15 months low of 51.4.

The negative sentiments coupled with weak macroeconomic condition dragged the market down from all-time high. Market is keenly watching for further stimulus to the economy from the Finance Minister. Market will open weak on weak data and global cues however it has a support zone at around 10850.

Global market:
DOW: +41
SGX NIFTY: -100 ( after Mondays adjustment )
NIFTY 50 : 11023
Sensex : 37332

Institution:
FII: +1163 Cr
DII: +1502 Cr

Currency:
Dollar: 71.96

Commodity:
Gold: $1533 per ounce
Crude: $58.70 per barrel

Bonds:
10 year US bond rate: 1.51
10 year Indian Bond rate: 6.56

Updates :

Q1 GDP Growth Slips to 6-year Lows: India’s economy expanded at its slowest pace in more than six years in April-June as consumer demand and private investment, the two principal drivers of growth slackened . concerns over the sluggish economic growth coupled with US-China trade frictions.

PSU Banks Merger – Announced merger of small banks with mid and mega banks.

Coal India Production output falls 10.3 % in August

Reported Auto Sales Numbers we’re lowest in 20 months. Maruti and Hero Reported monthly sales numbers Inline with subdued expectation. Eicher and M&M Numbers Disappointing.

As per media reports GST council will consider GST rate cut on Auto’s on 20 th September . Positive for Auto Sector .

Derivative View -. VIX closed at 16.28. Max Put OI is at 10800 then 10600 strike while Max Call OI is at 11000 then 11200 strike. Option data suggests a broader trading range in between 10700 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

Q1 GDP numbers set to release today. Expecting between 5.5 to 6%.

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