Insight Online News
From Advisory Desk : Vikash Sahay
19th January 2022
Market Outlook: US markets fell sharply due to weak results and raising treasury yields. However futures are trading in flat. US 10-year bond yields surged to two-year high which is trading at 1.88%, on expectation of early tightening of monetary policy to combat high inflation. Crude oil prices extend rally to seven-year highs on expectation of supply disruptions due to geopolitical tensions in Middle east. Asian markets have started on a mixed note, with SGX Nifty is indicating a flat opening. Yesterday, Nifty witnessed a sell-off in the last hour across all sectors on account of global cues. Overall, positive trend remains intact with immediate support at 18080.
Actionable: Buy Bajaj Finance, Sun pharma, ICICI bank.
SGX NIFTY: -10 (prev.close 18138)
NIFTY 50 : 18113
Sensex : 60754
FII: -1255 Cr
DII: -220 Cr
Advances: 1092 / Declines: 2350
Dollar: $ 74.57
Dollar Index: 95.75
Gold: $1812 per ounce
Crude: $88.95 per barrel
10 year US bond rate: 1.88
10 year Indian Bond rate: 6.63
Today’s results announcement: Bajaj Auto, LTI, Tata communications, OFSS, ICICI Lombard, CCL products, Syngene international, Ceat, Rallis, Mastek, Nelco, JSW energy, JSW Ispat, Saregama, Tejas.
Above estimates: Bajaj finance, Icici pru, ICICI securities, Trident, Tata elxsi
Below estimates: Just dial, LTTS
Vedanta: Citi group launches Block deal today for ADS shares. Deal size approx Rs.1200 crore and a discount of upto 4% to yesterday’s closing price. As per reports, strong demand for the deal.
Reliance industries: Company announces that it has paid Rs.30,791 crore to DOT towards prepayment of entire deferred liabilities acquired in auctions before March 2021. With the above prepayments will result in interest cost savings of around Rs.1200 crores annually.
Telecom Sector: As per TRAI’s data, Industry subscriber base consolidated, with RJio leads growth. Gross subscribers base for the industry raised by 1.37 million. Reliance Jio added active subscribers 2 million in Nov vs 1.7 million subscribers in October. Bharti airtel added 1.3 m vs 0.49 subscibers lost in October. While Vodafone Idea continued to lose subscribers.
Securities in Ban: BHEL, ESCORTS, GRANULES, IBULHSGFIN, IDEA, SAIL.
Derivative View : VIX closed at 17.78. Immediate max Put OI is at 18000 then 18100. Max Call OI is at 18300 then 18200. Option data suggests a trading range between 18000 to 18300.