Actionable: Buy Asian Paints, Lauras lab, Tata Consumer.

From Advisory Desk:Vikash Sahay

11th September 2020

Market Outlook: US markets closed in red by 2%. Asian markets too were trading in red by a percent, including SGX Nifty which was trading lower by 40 points. India-China five points consensus inked, details awaited. Yesterday Nifty gained 171 points, of which Reliance contributed 114 points due to news about stake sale in Reliance retail. As per the sources, GOI is planning to attract manufacturers by setting a pacakge of $23 billion. The package is expected to be inclined towards Auto, Steel, & Pharma set up. The market breath has weakened and we are witnessing pressure on higher side.

Actionable: Buy Asian Paints, Lauras lab, Tata Consumer.

Global market:
DOW: -405
SGX NIFTY: -30 (prev.close 11460)
NIFTY 50 : 11449
Sensex : 38840

Institution:
FII: +838 Cr
DII: -317 Cr

NSE:
Advances: 1789 / Declines: 922

Currency:
Dollar: $ 73.45

Commodity:
Gold: $1953 per ounce
Crude: $40.02 per barrel

Bonds:
10 year US bond rate: 0.69
10 year Indian Bond rate: 6.05

Update

Reliance: Reliance has clarified on the news of the company offering Amazon $20 billion stake in its retail arm stating that it doesn’t comment on media speculation and rumours. Company says cannot confirm or deny any transaction which may or may not be in the works and is evaluating various opportunities on an ongoing basis.

Security in Ban : IDEA, IBULHSGFIN, APOLLOTYRE, BHEL, PNB, JINDALSTEL, BANKBARODA

Derivative View : VIX closed at 21.26. Max Put OI is at 11300 then 11200. Max Call OI is at 11500 then 11700. Option data suggests a wider trading range between 11200 to 11700.

Leave a Reply

Your email address will not be published. Required fields are marked *