Actionable: Buy Bajaj Finance, SBI, Maruti Suzuki, VIP Industries.

Insight Online News

From Advisory Desk : Vikash Sahay

28th July 2022

Market Outlook: US markets rallied sharply by upto 4% with Nasdaq leading the gains after FED delivered a widely expected rate hike of 75 bps and reaffirmed the central bank’s fight against the inflation. The FED also hosed down concerns of a recession and signalled that it could slow down the pace of rate hikes. However, futures were trading lower after weak earnings from Meta. Crude oil prices back above $100 on low US inventories. Asian markets have started on a flat to positive note, with SGX Nifty is indicating a 120 points gap up opening for indian markets which will take Nifty to trade near immediate resistance level of 16800. Today being monthly expiry we expect higher volatility with Nifty’s range to be 16442-16888 and Banknifty’s range to be 36250-37250.

Actionable: Buy Bajaj Finance, SBI, Maruti Suzuki, VIP Industries.

Global market:

DOW: +436

SGX NIFTY: +100 (prev. close 16662)

NIFTY 50 : 16641

Sensex : 55816

Institution:

FII: – 437 Cr

DII: + 712 Cr

NSE:

Advances: 1686 / Declines: 1635

Currency:

Dollar: $ 79.90

Dollar Index: 106.28

Commodity:

Gold: $1742 per ounce

Crude: $103.05 per barrel

Bonds:

10 year US bond rate: 2.75

10 year Indian Bond rate: 7.33

Derivative:

PCR: 0.87

VIX: 18.13

Today’s Result – Dr Reddy’s Laboratories, Nestle India, SBI Life Insurance Company, Shree Cement, Jubilant FoodWorks, Vedanta, Bajaj Finserv, Punjab National Bank, Mahindra & Mahindra Financial Services, PNB Housing Finance, SBI Cards and Payment Services, TVS Motor Company, Shriram Transport Finance, Chalet Hotels, Equitas Small Finance Bank, CMS Info Systems, GHCL, AAVAS Financiers, Intellect Design Arena, Dr Lal PathLabs, Motilal Oswal Financial Services, Nippon Life India Asset Management, NIIT, NOCIL, RITES, Sona BLW Precision Forgings, TTK Prestige, and Westlife Development.

Results update:

Above estimates: Bajaj Finance, Bajaj Auto, Coromandel International, Laurus Labs, Blue Dart, Shiram City Union Finance, VIP Industries, Mahindra Life, IIFL Finance, Gujarat Flurochem, Moldtek Packaging, Poonawalla Fincorp

Inline estimates: Maruti, United Breweries, Colgate, APL Apollo, Clean Science, JK Lakshmi Cement,

Below estimates: Tata Motors, Biocon, Teamlease

Updates:

Hindustan Aeronautics – HAL has signed contract worth over $100 million with Honeywell for HTT-40 Engines.

BPCL – Cabinet Committee on Economic Affairs (CCEA) approved an additional investment of around Rs.12,000 crore for the development of BM-SEAL-11 concession project in Brazil by Bharat PetroResources Ltd, a wholly owned subsidiary of BPCL.

SpiceJet Ltd – The Directorate General of Civil Aviation (DGCA) cut Spice jet operations to 50 percent of its current departures for eight weeks during which it will remain under the regulator’s enhanced surveillance.

Exide Industries – Subsidiary Exide Energy Solutions (EESL) will set up a lithium-ion battery cell manufacturing facility by procuring land parcel admeasuring 80 acres in Bengaluru, Karnataka.

Bharat Forge – BF Infrastructure, a wholly-owned subsidiary of Bharat Forge Ltd, and Talgo India, a wholly-owned subsidiary of Spanish manufacturer Patentes Talgo S.L., have decided to set up a joint venture for manufacturing high-speed passenger trains.

Securities in Ban: Delta Corp, IBULHSGFIN.

Derivative View: Immediate Max Put OI is at 16500 and 16600 and Max Call OI is at 17000 and 16800. Option data suggests a wider trading range in between 16500 to 17000.

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