Actionable : Buy Godrej Consumer, Reliance Industries, SBI.
Insight Online News
From Advisory Desk : Vikash Sahay
28th March 2023 Market Outlook: The US equity market saw a positive end to Monday’s trading session, buoyed by news of First Citizen’s acquisition of the failed Silicon Valley Bank, although a surge in bond yields caused some instability for major tech companies. Crude oil prices jumped by 5% overnight due to output disruptions. Asian markets including SGX Nifty is indicating a positive opening. On the domestic front, despite foreign institutional investors pulling out funds from Indian equities for the past few sessions amid global uncertainties, the fact that DII’s outnumber FII’s is keeping the market within a broader range. We expect volatility to continue ahead of monthly expiry, as well as yearly, quarterly, and monthly re-balancing.
Actionable: Buy Godrej Consumer, Reliance Industries, SBI.
Global market:
DOW: + 194
SGX NIFTY: + 40 (prev. close 17013)
NIFTY 50 : 16985
Sensex : 57653
Institution:
FII: – 891 Cr
DII: + 1809 Cr
NSE:
Advances: 881 / Declines: 2771
Currency:
Dollar: $ 82.37
Dollar Index: 102.60
Commodity:
Gold: $ 1979 per ounce
Crude: $ 77.50 per barrel
Bonds:
10 year US bond rate: 3.50
10 year Indian Bond rate: 7.31
Derivative:
PCR: 0.99
VIX: 15.44
Updates:
Aditya Birla Capital – The company has agreed to sell its entire stake in insurance broking business to Samara Capital for a sum of Rs.455 crore.
PNC Infratech – The Ministry of Road Transport and Highways has declared the company as the lowest bidder for the construction of highway projects in Uttar Pradesh on Hybrid Annuity Mode, with a project cost of Rs.819 crore.
SJVN – The company has secured ‘GREEN’ finance worth Rs.915 crore from Japan Bank for International Cooperation to finance its 90 MW Omkareshwar floating solar project in Madhya Pradesh and 100 MW Raghanesda solar project in Gujarat.
Dilip Buildcon – The Company has been declared as the lowest bidder for a highway project worth Rs.780 crore in Andhra Pradesh from NHAI on hybrid annuity mode.
Allcargo Logistics – The company has agreed to acquire 1.5 lakh shares for Rs.406.71 crore of Gati-Kintetsu Express, which includes buying 26% or 1.3 lakh shares from KWE-Kintetsu World Express and 4% or 20,000 shares from KWE Kintetsu Express.
Kalyan Jewellers – Today, Warburg Pincus plans to sell a 2.5% stake in Kalyan Jewellers through a block deal at a 6% discount price of Rs.110 per share, resulting in an overall deal value of Rs.288 crore.
Paytm – Paytm Payments Bank will be able to earn 1.1% interchange revenue whenever Paytm Wallet customers conduct transactions on merchants acquired by other payment aggregators or banks, following the announcement of Wallet interoperability guidelines by NPCI.
Securities in Ban: NIL.
Derivative View: Weekly Maximum Call OI is at 18000 then 17000 strike while Maximum Put OI is at 17000 then 16500 strike. Option data suggests an immediate trading range in between 16800 to 17200 zones.
