Insight Online News
From Advisory Desk : Vikash Sahay
20th September 2021
Market Outlook: Globally the markets have started the week on negative note, with SGX Nifty is trading lower by 120 points ahead of FED meeting, which gives clarity about the timeline of bond tapering. In last week, FIIs have been net buyers amounting over Rs. 6400 crores leading to both the indices touching a new highs and also witnessed a slightly volalitle session on friday due to profit booking in Nifty Metals, Reality and PSU banks. Overall, we remain positive till it holds 17400 level and continue to recommend for buying on dips.
Actionable: Buy Havells, Tata Elxsi, Dabur.
SGX NIFTY: -120 (prev.close 17601)
NIFTY 50 : 17585
Sensex : 59015
FII: +1553 Cr
DII: -1399 Cr
Advances: 1168 / Declines: 2138
Dollar: $ 73.48
Dollar Index: 93.28
Gold: $1752 per ounce
Crude: $74.90 per barrel
10 year US bond rate: 1.36
10 year Indian Bond rate: 6.17
Lupin: USFDA has issued a 483 form for its Goa plant with 7 observations. The site has been under the regulatory lens since 2018bafter a warning letter was issued.
JSPL: Has won the Kaisa iron ore mine and dolomite block in the ongoing auction process in Orissa. This mine can produce 6 mnt of iron ore per annum which will caters to its steel plant at Angul.
Securities in BAN: ESCORTS, EXIDEIND, IBULHSGFIN, IRCTC, NALCO, PNB, SAIL, SUN TV.
Derivative View : VIX closed at 15.23. Max Put OI is at 17400 then 17500. Max Call OI is at 17800 then 17600. Option data suggests a trading range between 17400 to 17800.