Actionable: Buy BEL, Coal india.

Insight Online News

From Advisory Desk : Vikash Sahay

29th September 2021

Market Outlook: Due to rising bond yields and expectations of higher inflation, US markets remained under pressure throughout the day. However, futures turned into positive and trading higher by quarter percent. Asian markets have started trading in red, with SGX Nifty is trading lower by 90 points. Yesterday, Indian market had made a smart recovery from intraday lows in the last hour of trading session, after a positive opening in the start, but today it seems to open lower. We expect volatility to continue at higher levels but stock specific action will be in momentum.

Actionable: Buy BEL, Coal india.

Tactial idea for 3-6 months: Buy Maruti

For High risk traders: Buy Apollo Hospitals

Global market:
DOW:  -569
SGX NIFTY:   -85  (prev.close 17724)
NIFTY 50 : 17748
Sensex : 59667

Institution:
FII:                     -1958 Cr
DII:                     +161 Cr

NSE:
Advances: 1436 / Declines: 1828

Currency:
Dollar: $ 74.04
Dollar Index: 93.69

Commodity:
Gold: $1738  per ounce
Crude: $77.45  per barrel

Bonds:
10 year US bond rate: 1.55
10 year Indian Bond rate: 6.23

Derivative:
PCR: 0.94
VIX:  18.53

Updates:

HDFC AMC: Standard life to sell nearly 5% stake in the company for about Rs.3,042 crore through block deals today at a floor price of Rs.2870 per share, which implies a discount of 6.65% to previous closing price.

Max Healthcare : US private equity firm KKR to sell nearly 6.57% stake in the company for about Rs.2,220 crore at lower end of price through block deals today at a price range of Rs.350-369 per share, which implies a discount of 0-5.6% to previous closing price.

Securities in BAN: IDEA, SAIL, SUNTV, ZEEL.

Derivative View : VIX closed at 18.53. Max Put OI is at 17500 then 17600. Max Call OI is at 18000 then 17900. Option data suggests a trading range between 17500 to 18000.

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