Actionable: Buy Divis Lab, ICICI Bank, Indiabulls housing Finance, Mahindra lifespaces.

Insight Online News

From Advisory Desk : Vikash Sahay

31st August 2021

Market Outlook: Yesterday Nifty bank and metal sectored pushed Nifty to close on life high above 16900. Though today Asian markets are indicating a pause in the run, but Nifty looks good to surpass 17000 anytime soon. Institutions combined buying was above 2000 cr. GDP numbers will be declared post market hours. Auto sectors is under pressure due to shortage of semi-conductor chip and aggravated by Malaysia’s lock down.

Actionable: Buy Divis Lab, ICICI Bank, Indiabulls housing Finance, Mahindra lifespaces.
 
Global market:
DOW:  -55
SGX NIFTY:   -30  (prev.close 16964)
NIFTY 50 : 16931
Sensex : 56889

Institution:
FII:                      +1203 Cr
DII:                     +689 Cr

NSE:
Advances: 2202 / Declines: 1114

Currency:
Dollar: $ 73.26
Dollar Index: 92.65

Commodity:
Gold: $1815  per ounce
Crude: $71.85  per barrel

Bonds:
10 year US bond rate: 1.27
10 year Indian Bond rate: 6.23

Derivative:
PCR: 0.82
VIX:  13.31

Updates:
 
Reliance industries: As per reports, Reliance close to acquiring REC Group, the largest solar panel manufacturer in Europe, for $1-1.2 billion from China National Chemical Corp (ChemChina). The purchase will help RIL access cutting-edge technology and global manufacturing capabilities as it continues with its recently announced March into green energy.

KNR Constructions: Board approves dilution of entire stake in three subsidiaries to Cube Highways. Earlier plan was to sell 49% stake, approximate consideration for 3 projects on completion is 466 cr.
 
Securities in BAN:  NIL.
 
Derivative View : VIX closed at 13.31. Max Put OI is at 16800 then 16900. Max Call OI is at 17000 then 17100. Option data suggests a trading range between 16800 to 17100.

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