Actionable: Buy Britannia, Sun pharma.

Insight Online News

From Advisory Desk : Vikash Sahay

26th September 2022
 
Market Outlook: Equity markets continued their slump as rising interest rates may lead to dip in the economies, stoking recession fears. US futures are trading slightly lower. Crude oil prices are continue to trade lower on strong dollar and demand concerns, which is positive for Indian economy. Asian markets including SGX Nifty is indicating a weak start for the equity markets. In the last 2 days, FII’s once again intensified their selling in cash segment amounting over Rs.5,000 crore. We remain positive for mid to long term however short term may remain in volatile along with the global markets, with strong support at 200 DMA 16880 level.

Actionable: Buy Britannia, Sun pharma.

IPO listing: Harsha Engineers shares to start trading in exchanges today after oversubscribed by 75 times.
 
Global market:

DOW:   -486
SGX NIFTY:   -160   (prev. close 17332)

NIFTY 50 : 17327
Sensex : 58098
 
Institution:
FII:                 –   2900  Cr
DII:                +   299   Cr

NSE:
Advances:  896 / Declines:  2580

Currency:
Dollar: $ 80.99
Dollar Index: 113.76
 
Commodity:
Gold: $1646  per ounce
Crude: $85.10  per barrel
 
Bonds:
10 year US bond rate: 3.72
10 year Indian Bond rate: 7.39

Derivative:
PCR: 0.90
VIX:  20.59
 
Updates:
 
Coal India – State-owned CIL will sign agreements with three public sector enterprises — Bharat Heavy Electricals Ltd (BHEL), Indian Oil Corporation Ltd (IOCL) and GAIL (India)– in order to set up four surface gasification projects. Through the gasification process, coal is converted into syngas — a fuel gas — which can be used in the downstream production of value-added chemicals.

Yes Bank – Bank has received confirmations from CDSL and NSDL that the locked-in shares would get released on March 13, 2023. Bank will exit reconstruction scheme only after Lock-in of shares of existing shareholders ends.
 
Natco Pharma – Company launched Chlorantraniliprole (CTPR) 18.5% SC under the Brand Name of NATGEN in Indian Market. NATCO estimates the current market size of CTPR containing products in India to be over INR 2000 crores.
 
Embassy Office Parks REIT – Blackstone Inc will sell a stake worth up to $400 million in Embassy Office Parks REIT via block deals and as per reports Abu Dhabi’s sovereign wealth fund is likely to pick up at least half of the stake that Blackstone is to sell.
 
Nestle India – Nestle SA plans to invest ₹5,000 crore in India in the next three-and-a-half years by 2025.

Securities in Ban: Ambuja Cements, Canfin Home, Delta Corp, RBL Bank, PNB, Zee Entertainment.
 
Derivative View: Max Put OI is at 17000 and 16800 and max Call OI is at 18000 and 17600. Option data suggests an immediate trading range in between 17000 to 17600.

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