Actionable: Buy HAL, Canara Bank, TCS, JSPL.

Insight Online News

From VCap Money Advisory Desk : Vikash Sahay

23rd November 2022
 
Market Outlook: US markets closed higher by more than one percent ahead of the release of the FED meeting minutes. Asian markets including SGX Nifty indicating a positive start for our markets. Yesterday, nifty recovered well from initial weakness and closed higher by 80 points. The bounces after the small falls, indicate that markets are yet to make high in the recent upmove. Nifty may face minor resistance near 18400 zone. Newly listed companies like Tarsons products, Venus pipes, Ethos and Go fashions may face some selling pressure as their pre-ipo lock-in period expires in the next 2-3 days. Australian parliament has approved FTA with India which is expected to reach bilateral trade of $50B from current $30B in next five years.
 
Actionable: Buy HAL, Canara Bank, TCS, JSPL.
 
Global market:

DOW:   +397
SGX NIFTY:   +60   (prev.close 18287)
NIFTY 50 : 18244
Sensex : 61418
 
Institution:
FII:                –    698    Cr
DII:               +    636    Cr

NSE:
Advances:  1585 / Declines:  1881

Currency:
Dollar: $ 81.66
Dollar Index: 107.18
 
Commodity:
Gold: $1739  per ounce
Crude: $88.50  per barrel
 
Bonds:
10 year US bond rate: 3.75
10 year Indian Bond rate: 7.29

Derivative:
PCR: 0.91
VIX:  13.84

Updates:

Nykaa – Arvind Agarwal resigned as the CEO of the company effective from 25th Nov to seek other possibilities in the digital and start-up arena.
 
Bharti Airtel – Subsidiary Nxtra Data Ltd started the construction of its new hyper-scale data centre in Kolkata. The company will invest Rs.600 crore in the development of the largest data centre in East India that will serve the underserved markets of east and north-east regions. Nxtra will invest over Rs.5000 cr. over the next four years to expand its capacity by 3X to over 400 MW.
 
Adani Enterprises – The company will consider raising capital as much as Rs.20000 crore on 25th  November via public offering, preferential allotment – including QIP – or a combination of methods. The fundraising is likely to help the conglomerate as it solidifies the expansion and growth of new and existing business verticals.
 
Vedanta – The Company’s board approved a third interim dividend of Rs.17.5 per equity share amounting to nearly Rs.6,505 crores. The record date for the purpose of payment of dividend 30th November.

Securities in Ban: NIL.

Derivative View: Immediate Max Call OI is at 18300 and 18400 and max Put OI is at 18200 and 18000. Option data suggests an immediate trading range in between 18100 to 18400 zone.

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