From Advisory Desk : Vikash Sahay
5th July 2021, Market Outlook: SGX Nifty is indicating a positive opening to Nifty above 15800. We may continue to see stock specific action. Asian markets had a good start due to fear of US interest rate, weakining as US yield is down to 1.40%. VIX continue to remain at the level of 12. This week onwards, results season will kick off. Tata steel production has been good and can be accumulated on dips.
Actionable: Buy CDSL, Deepak Nitrate, Infoedge, Zensar.
IPO Listing: India pesticides shares to start trading in exchanges today after oversubscribed by 29 times.
SGX NIFTY: +100 (prev.close 15748)
NIFTY 50 : 15722
Sensex : 52484
FII: -983 Cr
DII: +930 Cr
Advances: 1873 / Declines: 1349
Dollar: $ 74.74
Dollar Index: 92.29
Gold: $1790 per ounce
Crude: $75.85 per barrel
10 year US bond rate: 1.43
10 year Indian Bond rate: 6.07
HCL technologies: Announced a multi-year agreement with Fiskars group for digital transformation, Hcl to accelerate Fiskars group’s digital journey through applications and infrastructure modernization.
Info edge: As per sources, Zomato gets SEBI nod for IPO. Also, Infoedge reduced OFS value to 350 crore from 750 crore in the upcoming IP0. Policy bazaar is planning to file its draft documents in this month for IPO.
Tata steel Q1 update: Tata steel india sales volumes fell 11% QoQ to 4.15 mt due to weakened domestic demand across sectors and production declined by 3% QoQ to 4.62 mt. However, demand has improved since mid-June with the easing of lockdown restrictions.
Metals: Steel mills cut HRC prices by around Rs.1,500- 2,000 per ton owing to tepid demand and sluggish buying interest due to the onset of monsoons and still steel prices.
Securities in BAN: NALCO, PNB.
Derivative View : VIX closed at 12.09. Max Put OI is at 15700 then 15500. Max Call OI is at 15800 then 16000. Option data suggests a trading range between 15500 to 16000.