Insight Online News
From Advisory Desk : Vikash Sahay
12th July 2021, Market Outlook: SGX Nifty is indicating Nifty’s start to be around 15750. We expect Nifty to be in the range of 15600-15900. FIIs have sold over Rs 4500 cr in the month so far. Dow futures is trading flat, as bond yields spiked to 1.35%, after hitting a low of 1.25% in the last week. Asian markets have started in green with gains of 0.5%- 2%. The broader indices may remain range bound, however stock specific action will continue.
Actionable: Buy Glenmark, Shobha developers, JK Lakshmi.
Zomato Ltd ( Subscribe for listing gains): IPO opens on 14th July for subscription and closes on 16th July, 2021. IPO issued at a price band of Rs.72-76 per share.
SGX NIFTY: +55 (prev.close 15728)
NIFTY 50 : 15689
Sensex : 52386
FII: -1125 Cr
DII: +107 Cr
Advances: 1860 / Declines: 1342
Dollar: $ 74.64
Dollar Index: 92.13
Gold: $1805 per ounce
Crude: $75.50 per barrel
10 year US bond rate: 1.35
10 year Indian Bond rate: 6.19
Below estmates: Dmart
Federal bank: RBI has approved the re-appointment of Mr. Shyam srinivasn as MD and CEO for a period of three years, which is above the street expectations of one year extension and also removes a key overhang.
Equitas holdings & Ujjivan financial services: RBI has approved the application for Scheme of Amalgamation between SFB and holding company to dilute promoter shareholding in SFB to less than 40% within five years as required by RBI, With this scheme of Amalgamation will give an exit route to the promoters and collapse the holding company structure. However, SEBI and other regulatory approvals are yet to receive for successful Amalgamation.
Securities in BAN: IBULHSGFIN, IDEA, NALCO, NMDC, PNB, SAIL.
Derivative View : VIX closed at 12.94. Max Put OI is at 15700 then 15600. Max Call OI is at 15800 then 15900. Option data suggests a trading range between 15600 to 15900.