From Advisory Desk 06th October 2020
Market Outlook: Wall street cheered President Trump’s return to White House by climbing 2℅. Asian markets too were up by a percent, including SGX Nifty which was up by 40 points. We expect the market to remain positive with a strong support of 11350.
SGX NIFTY: +40 (prev.close 11524)
NIFTY 50 : 11503
Sensex : 38973
FII: +237 Cr
DII: -472 Cr
Advances: 1464 / Declines: 1256
Dollar: $ 73.29
Gold: $1914 per ounce
Crude: $41.27 per barrel
10 year US bond rate: 0.76
10 year Indian Bond rate: 6.00
HDFC Bank Q2 update: Hdfc bank Q2 provisional numbers shows strong Q2 business growth on account of continued strong momentum in loans and deposits despite weak economic trends, with advances grew by 16% yoy, deposits up by 20% yoy while CASA ratio at 42%.
CreditAccess Grameen: Company launches QIP on monday, at a floor price of Rs.707.69 per share, which is a discount of 5.3% to yesterday’s closing price. Board of directors will meet on October 8 to consider the issue price.
Indusind bank Q2 update: Q2 advances growth moderated to 1.6% YoY on weak economic trends. However, sequentially marginal uptick seen in loan growth and strong deposit growth at 10.3% YoY & 7.9% QoQ led by CASA deposits.
Securities in Ban: VEDL.
Derivative View : VIX closed at 19.70 Max Put OI is at 11000 then 11200. Max Call OI is at 11800 then 12000. Option data suggests a trading range between 11300 to 11700.