Actionable: Buy Asian paints, ICICI Bank, SBI cards, Macrotech developers.

Insight Online News

From Advisory Desk : Vikash Sahay

1st September 2021
 
Market Outlook: Nifty IT, Financial and metals led Nifty to surpass 17000 decisively with FIIs buying in cash accounted for over Rs 5000 cr in last two days. GDP stellar growth at 20.1% were better than street expectations. Asian markets have started in mix. We expect Nifty to remain strong supported by strong flows by FIIs and good macro economic data.

Actionable: Buy Asian paints, ICICI Bank, SBI cards, Macrotech developers.

Global market:
DOW:  -39
SGX NIFTY:   -10  (prev.close 17125)
NIFTY 50 : 17132
Sensex : 57552

Institution:
FII:                     +3881 Cr
DII:                     -1872 Cr

NSE:
Advances: 1518 / Declines: 1692

Currency:
Dollar: $ 73.00
Dollar Index: 92.73

Commodity:
Gold: $1813  per ounce
Crude: $71.90  per barrel

Bonds:
10 year US bond rate: 1.32
10 year Indian Bond rate: 6.22

Derivative:
PCR: 0.82
VIX:  14.52

Updates:
 
Maruti: Owing to a supply constraint of electronic components due to the semiconductor shortage situation, the company is expecting an adverse impact on vehicle production in the month of September in both the plants. The company estimates that the vehicle production volume could be around 40% of normal production.
 
AU Small finance bank: Bank has given clarification regarding recent resignations in senior management team. Head of chief risk officer Mr. Alok gupta has placed his resignation due to personal reasons and replaced with Mr. Deepak jain who is currently work as COO in the company. Also, Head of internal audit Mr. Sumit dhir has placed his resignation due to personal reasons and the bank remains in discussions with him for possible retention.

BHEL: Secures largest ever order worth of Rs.10,800 crore from NPCIL for EPC of turbine island for 6 units of 700MWe which is approx equivalent to 10% of the current outstanding order book.

BEL: Company has signed a contract with Indian Navy to supply locally made Naval anti-drone system. The company also expected to sign similar contracts with the Army and Air force.

Securities in BAN:  CANBK.
 
Derivative View : VIX closed at 14.52. Max Put OI is at 17000 then 16900. Max Call OI is at 17300 then 17200. Option data suggests a trading range between 16900 to 17300.

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