Actionable: Buy Bajaj Finance, Cummins, HDFC Life.
Insight Online News
From Advisory Desk : By Vikash Sahay
27th April 2023; Market Outlook: Despite positive earnings reports from major tech companies, fresh banking turmoil weighed on sentiment, resulting in the Nasdaq closing higher and the Dow Jones ending lower. Preliminary Q1 GDP will be released tonight, and important PCE data is due out tomorrow. Crude oil prices fell nearly 4% on Wednesday, despite a larger-than-expected drop in US crude inventories. SGX Nifty is indicating a flat opening after good FIIs buying yesterday, largely inline with Asian markets. On the domestic front, FIIs turned into net buyers after being sellers in the previous few sessions. So far, Q4 results have been relatively good, except a few misses. Today being the monthly expiry, we expect Nifty’s range to be 17666/17717-17850/17950 and Banknifty’s range to be 42250/42400-43000/43200.
Actionable: Buy Bajaj Finance, Cummins, HDFC Life.
Global market:
DOW: – 228
SGX NIFTY: – 40 (prev.close 17829)
NIFTY 50 : 17813
Sensex : 60300
Institution:
FII: + 1257 Cr
DII: – 228 Cr
NSE:
Advances: 1845 / Declines: 1651
Currency:
Dollar: $ 81.76
Dollar Index: 101.40
Commodity:
Gold: $ 2001 per ounce
Crude: $ 77.95 per barrel
Bonds:
10 year US bond rate: 3.43
10 year Indian Bond rate: 7.12
Derivative:
PCR: 1.15
VIX: 11.65
Today’s Result Announcement – Axis Bank, Wipro, Tech Mahindra, ACC, Bajaj Finserv, HUL, Aarti Surfactants, Aditya Birla Sun Life AMC, Chennai Petroleum Corporation, Coforge, Dwarikesh Sugar Industries, Gateway Distriparks, Glenmark Life Sciences, Indian Hotels, Laurus Labs, LTIMindtree, Motilal Oswal Financial Services, Mphasis, Shriram Finance, Tinplate, Trent, and Welspun India.
Results Update:
Above estimates: Bajaj Finance, HDFC Life, Poonawall Fincorp, IIFL Finance, Shoppers stop, KPIT tech, Syngene International.
Inline estimates: LTTS, SBI Life, Can Fin Home, Indus towers, UTI Asset
Below estimates: Voltas, Maruti, Coforge
Updates:
City Union Bank – The Reserve Bank of India has given its consent for the re-appointment of N Kamakodi as MD and CEO for additional 3 years period.
Reliance Industries – NSE has decided that a demerged company will be retained in a Nifty index, reversing the earlier practice of excluding it. As per reports, It is positive for Reliance Industries, which will be demerging Jio Financial Services soon.
Cummins India/Tata Motors – Cummins India has signed a definitive agreement with Tata Motors to manufacture a range of low-to zero-emissions technology products in India over the next few years.
Rail Vikas Nigam – Union Finance Ministry gave its approval to upgrade RVNL to Navratna Central Public Sector Enterprise (CPSE) from Category-I Miniratna. This will help company to have more autonomy in terms of investment, setting up joint ventures and other financial decisions.
HCL Tech – Company will deliver an IT system for Heubach Group across 11 countries to include deployment of hybrid cloud, cybersecurity solutions, end-user services and secure networks.
Infosys – Company has collaborated with Walmart Commerce Technologies to help retailers leverage technology solutions that simplify customer and store employee experiences.
Securities in Ban: GNFC, Zee Entertainment.
Derivative View: On option front, Maximum Call OI is at 18000 then 17900 strike while Maximum Put OI is at 17700 then 17800 strike. Option data suggests an immediate trading range in between 17700 to 17950 zones.
