From Advisory Desk : Vikash Sahay
24th December 2020 : Market Outlook ; US markets ended in green. Asian markets are trading flat to positive. SGX Nifty is up by 30 points. Yesterday VIX cooled down by 7% to the level of 20. Today being a weekly expiry, we expect the Nifty to be in the range of 13500-13700 and Bank Nifty to be in the range of 29200-30500.
Actionable: ACC, Tata Motors & Tata consumer.
IT pack (Infosys, Wipro, HCL tech & Tata Elxsi) all are looking good for up move on a positional basis.
IPO Listing : Mrs.Bectors food specialities shares to start trading in exchanges today after oversubscribed by 198 times.
SGX NIFTY: +30 (prev.close 13618)
NIFTY 50 : 13601
Sensex : 46444
FII: +536 Cr
DII: -1327 Cr
Advances: 2287 / Declines: 661
Dollar: $ 73.76
Gold: $1881 per ounce
Crude: $51.25 per barrel
10 year US bond rate: 0.95
10 year Indian Bond rate: 5.95
Vedanta: Promoters to buy upto 4.9% stake in the company via block deals today, indicative price range between Rs.150.45 – 160 per share, which implies a premium of 0-6.35% to yesterday’s closing price.
ACC and Ambuja cements: Ambuja cements announced that the TKH fees ( Technology and Knowhow ) kept at 1% of net sales for next 2 year by Holcim Technology limited which is a big relief for both the companies as markets are expecting another 1% hike in the fee.
Telecom companies: As per TRAI’s data for the month of Oct, Bharti Airtel and Reliance Jio added 3.66 & 2.23 million wireless subscribers vs 3.78 & 1.5 million subscribers in September while Vodafone idea lost 2.66 million subscribers vs 4.7 in September.
Bharat forge: Company announced that the Germany competition regulator FCO imposes a fine of €32 mln (Rs 288 crore) on three local subsidiaries of Bharat Forge as part of a settlement in two separate investigations. Settlement amount is to be paid over the next 5 yrs.
Securities in Ban: PNB,CANBK.
Derivative View : VIX closed at 20.49. Max Put OI is at 13500 then 13400. Max Call OI is at 13700 then 13800. Option data suggests a trading range between 13400 to 13800.