Actionable: Buy Birlasoft, Hindalco, Oberoi Realty.

Insight Online News

From Advisory Desk : Vikash Sahay

10th January 2021

Market Outlook: US futures are trading lower by a quarter percent after the steady jobs data. 10-year US bond yields surged to 1.8% as markets are expecting a tighter monetary policy after the unempolyment rate tumbled to below 4%, a 22-month low. Asian markets have started in mix, with SGX Nifty is indicating a positive opening. On Friday, Nifty witnessed a volatile session and closed above 17800 in final hours. We remain positive on markets and continue to recommend buy on dips strategy. IT stocks will be in focus ahead of quarterly results in this week. TCS to consider buyback proposal on 12th Jan along with results.

Actionable: Buy Birlasoft, Hindalco, Oberoi Realty.

Global market:
DOW:  -4
SGX NIFTY:   +80  (prev.close 17857)
NIFTY 50 : 17812
Sensex : 59744

Institution:
FII:                    +496 Cr
DII:                    -116 Cr

NSE:
Advances: 2089 / Declines: 1314

Currency:
Dollar: $ 74.30
Dollar Index: 95.78

Commodity:
Gold: $1795  per ounce
Crude: $81.60  per barrel

Bonds:
10 year US bond rate: 1.77
10 year Indian Bond rate: 6.54

Derivative:
PCR: 0.87
VIX:  17.60

Results update:
Inline estimates: Dmart

Updates:

Biocon: USFDA issues a complete response letter( CRL) for the biologics license application for Insulin Aspart filed by their partner Mylan. Co says CRL didn’t specify any scientific issues with product and respond it to satisfy USFDA’s requests.

Indigo: Company said it will cancel around 20% of its flights due to rising cases and waive change fees till march 31 in response to customer needs.

Life insurance industry update : Industry reported overall APE growth of 29.4% YoY in Dec Month. Among listed players, MAX Life /HDFC Life posted robust growth of 40% /32% YoY. SBI life posted a strong 19% yoy growth. While ICICIPRU reported a muted growth of 10.8%.

Sobha Q3 update: Company reported Q3 sales volumes of 1.32 msf valued at Rs.1047 crore, an increase of 18% yoy. Also reported highest share of sale value stood at Rs.908 cr, up by 34% yoy.

Oberoi Realty Q3 update: Co reported a strong bookings in Q3, pre-sales valued at Rs, 1965 cr up 103% yoy and 138 % qoq.

Securities in Ban: Delta Corp, RBL Bank .

Derivative View : VIX closed at 17.60. Immediate max Put OI is at 17600 then 17800. Max Call OI is at 18000 then 17900. Option data suggests a trading range between 17600 to 18000.

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