Advisory Desk : Vikash Sahay
Market Outlook: Dow future is trading up by 250 points. Asian markets are trading in mix and SGX Nifty is up by 60 points. FIIs have sold stock Rs 9200 so far in the month of September. Dollar index trades above 94.50. Gold trades below Rs 50,000/- mark. We have witnessed selling in nifty throughout the last week except on Friday wherein we saw Nifty pulling up by over 200 points to close in green, majorly led by IT & Auto stocks. Today SC would hear the interest on interest case which would keep the banking stocks in action. We are witnessing a pullback in the market.
Actionable: Buy HCL Tech & Hero Moto corp.
SGX NIFTY: +80 (prev.close 11031)
NIFTY 50 : 11050
Sensex : 37388
FII: -2080 Cr
DII: +2071 Cr
Dollar: $ 73.61
Gold: $1865 per ounce
Crude: $42.25 per barrel
10 year US bond rate: 0.66
10 year Indian Bond rate: 6.03
Dr Reddy: Announced the launch of Dimethyl Fumarate delayed release capsules, a generic version of Tecfidera which had a sales of $4 billion in US as per IQVIA Health in last twelve months.
Financial services: Supreme court hearing on interest on interest for loans under moratorium period is scheduled today.
Derivative View : VIX closed at 20.68. Max Put OI is at 11000 then 10900. Max Call OI is at 11100 then 11200. Option data suggests a trading range between 10900 to 11200reply