Actionable: Buy Bajaj Finance, Hdfc Bank & LTI.

From Advisory Desk : Vikash Sahay

24th August 2021

Market Outlook: Asian market including SGX Nifty has started positively with gains of  1% on the back of global cues. Yesterday, our markets opened strongly but couldn’t sustain the early gains and closed flat. The volatility may continue in the market. Nifty is expected to open 100 points higher at 16600. In midst of this, FIIs continues to be seller for fifth straight trading session, amounting to Rs 5500 cr.

Actionable: Buy Bajaj Finance, Hdfc Bank &  LTI.

IPO listing: Chemplast Sanmar and Aptus value housing finance shares to start trading in exchanges today.

Global market:
DOW:  +215
SGX NIFTY:   +80  (prev.close 16495)
NIFTY 50 : 16496
Sensex : 55555

FII:                      -1363 Cr
DII:                     +1453 Cr

Advances: 747 / Declines: 2508

Dollar: $ 74.21
Dollar Index: 93.03

Gold: $1806  per ounce
Crude: $68.75  per barrel

10 year US bond rate: 1.26
10 year Indian Bond rate: 6.24

PCR: 0.93
VIX:  13.68


Telecom Sector: As per TRAI’s data, Industry subscriber base recovered from the impact of the second Covid wave, with the gradual lifting of lockdown restrictions in June month. Reliance Jio  added 5.5 million wireless subscribers in June vs 3.5 million subscribers in May. Bharti airtel saw a partial recovery in June by adding 3.8 million subscribers vs 4.6m decline in May. While Vodafone Idea continued to lose subscribers.

Gujarat gas: Company has decided to hike prices for industrial segment by Rs.4/ scm and for CNG by Rs.2/ kg effective from today which is a price hike of approx 12% and 4% respectively.

Indian hotels: Board has approved raising of upto Rs.3,000 crore through a rights issue for future Capex and debt repayment.

Securities in BAN:  CANBK, IDEA, NMDC, SUNTV.

Derivative View : VIX closed at 13.68. Max Put OI is at 16400 then 16300. Max Call OI is at 16500 then 16600. Option data suggests a trading range between 16300 to 16600.

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