Actionable: Buy DLF, Pidilite Industries, BEL

Insight Online News

From Advisory Desk : Vikash Sahay

2nd September 2022
 
Market Outlook: Wall street staged a late rebound with the benchmark indices closed higher on the back of strong ISM manufacturing data. Now, all eyes on the Non-Farm payroll data tonight. Commodities are under pressure on account of new 20-year high dollar index and renewed covid lockdowns in china. Indian markets could open flat despite mixed Asian markets and inline US futures. On domestic front, monthly GST revenues more than 1.4lakh crore for six months in a row, continuing to display strong buoyancy. We expect market may trade in range bound today however stock specific action will continue. Adani enterprises will be in focus after its entry into Nifty50 index with effect from September 30.
 
Actionable: Buy DLF, Pidilite Industries, BEL.
 
Global market:
DOW:   +145
SGX NIFTY:   +30   (prev. close 17568)
NIFTY 50 : 17542
Sensex : 58766
 
Institution:
FII:                  –   2290  Cr
DII:                 +   951   Cr
 
NSE:
Advances: 1873 / Declines: 1565
 
Currency:
Dollar: $ 79.56
Dollar Index: 109.53
 
Commodity:
Gold: $1708  per ounce
Crude: $93.50  per barrel
 
Bonds:
10 year US bond rate: 3.26
10 year Indian Bond rate: 7.21
 
Derivative:
PCR: 0.98
VIX:  19.87
 
Updates:
 
Adani Enterprises – Adani Enterprises will replace Shree Cement in the Nifty50 index with effect from September 30.
 
According to reports, In Adani Enterprises expected inflow of $285 million, i.e., around 7 million shares and In Shree Cement, expected outflow of $94 million.
 
Nifty Next 50
 
          Inclusion – Adani Total Gas, Bharat Electronics, Hindustan Aeronautics, IRCTC, Mphasis, Samvardhana Motherson International, and Shree Cement.
 
          Exclusion – Adani Enterprises, Jubilant FoodWorks, Lupin, Mindtree, PNB, SAIL, Zydus Lifesciences.
 
Infosys – Company has completed the acquisition of Europe-based life sciences consulting and technology firm BASE life science. BASE further expands Infosys’ footprint in the Nordics region and will bring domain experts with commercial, medical, digital marketing, clinical, regulatory, and quality knowhow.
 
Aurobindo Pharma – Company’s Wholly-owned arm, CuraTeQ Biologics, plans to invest around ₹300 crore on capacity expansion of biologics manufacturing facilities.
 
GMR Power and Urban Infra – Company’s board has given a go-ahead to raise up to Rs.3,000 crore via issuance of securities.
 
Securities in Ban: Nil.
 
Derivative View: Immediate max Put OI is at 17000 and 17500 and max Call OI is at 18000 and 17800. Option data suggests an immediate trading range between 17200 to 17800.

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