10th December 2020 Market Outlook : US market witnessed profit booking in Tech stocks. Thus Nasdaq ended 2% lower and Dow was down by 0.5%. Asian markets are trading lower by half a percent and SGX Nifty is down by 50 points. FIIs buying for the month amounting to INR 20,500 cr. PCR ratio is too high at 1.73. Till nifty holds above 13300, one should remain positive on Nifty and use dip as an opportunity to buy. Today being a weekly expiry, we expect Nifty likely to be in the range of 13400-13600 and Bank Nifty to be in the range of 30000-31200.
SGX NIFTY: -60 (prev.close 13565)
NIFTY 50 : 13529
Sensex : 46103
FII: +3564 Cr
DII: -2493 Cr
Advances: 1753 / Declines: 1225
Dollar: $ 73.56
Gold: $1844 per ounce
Crude: $49.10 per barrel
10 year US bond rate: 0.92
10 year Indian Bond rate: 5.92
IRCTC OFS: Govt to sell upto 20% stake in the company through OFS at a floor price of Rs.1367 per share, which is a 16.5% discount to yesterday’s closing price. Offer opens today for non retail investors and tomorrow for retail investors.
L&T technology services: Company bags order worth $100m plus from a global oil & gas major. Under a 5- year engagement, LTTS will provide multi discipline plant engineering services at two integrated refining and chemicals manufacturing facilities in USA.
Cement companies: As per media reports, Competition commission of india conducted searches on offices of few cement companies and examining on allegations of price cartelization.
ICICI Securities OFS: OFS opens for retail investors today after oversubscribed by 4.4 times by non- retail investors. Cut-off price determined for non retail category is Rs.467.
Securities in Ban: PNB
Derivative View : VIX closed at 18.92. Max Put OI is at 13500 then 13400. Max Call OI is at 13600 then 13700. Option data suggests a trading range between 13400 to 13700.