Actionable: Buy HCL Tech, Birla soft, BEL.

Insight Online News

From Advisory Desk : Vikash Sahay

24th December 2021

Market Outlook: US markets extended gains further and S&P 500 index closed at record highs supported by strong macro economic data and optimism over the new variant being less severe than previous variants. Asian markets have started on positive note, with SGX Nifty is indicating a positive opening above 17100. Yesterday, Nifty remained in range bound after a gap up opening and held onto 17000 level. From last few days, FIIs selling number gradually becoming smaller which is supporting the markets.

Actionable: Buy HCL Tech, Birla soft, BEL.

Tactical buy (2-3 months): Maruti

IPO listing: Data patterns services shares to start trading in exchanges today after oversubscribed by 119 times.

Global market:
DOW:  +196
SGX NIFTY:   +75  (prev.close 17072)
NIFTY 50 : 17072
Sensex : 57315

Institution:
FII:                    -272 Cr
DII:                   +1196 Cr

NSE:
Advances: 2162 / Declines: 1170

Currency:
Dollar: $ 75.24
Dollar Index: 96.04

Commodity:
Gold: $1810  per ounce
Crude: $76.50  per barrel

Bonds:
10 year US bond rate: 1.49
10 year Indian Bond rate: 6.46

Derivative:
PCR: 0.99
VIX:  15.82

Updates:

HCL technologies: Promoters to buy 45lacs shares in the company via block deal. Reverse booking for block purchase launched at upto 5% premium to yesterday’s closing price.

L&T Finance: Company to sell its mutual fund business L&T investment management to HSBC AMC for about Rs.3,100 crore. Disinvestment of MF business is inline with the strategic objective of the company to unlock value of the subsidiaries and strengthen its balance sheet.

Securities in Ban: ESCORTS, IDEA, IBULHSGFIN, ZEE Entertainment.

Derivative View : VIX closed at 15.82. Immediate max Put OI is at 17000 then 16800. Max Call OI is at 17200 then 17300. Option data suggests a trading range between 16800 to 17300.

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