Actionable : Buy HCL Tech, Max Health.

From Advisory Desk : Vikash Sahay

27th December 2021

Market Outlook: Asian markets have started the week on a mixed note while US futures are trading flat amid rising coronavirus cases globally. SGX Nifty is indicating a flat opening. On friday, Nifty witnessed a profit booking correction on lower volumes after a third day rise, though it did not close at intraday lows. We expect markets may remain in range bound due to most of the global markets were closed and continue lower participation from institutional investors. IT sector has been very strong and we continue to like stocks from this sector. Hospital and Diagnostic stocks will be in focus amid rising covid cases in india.

Actionable : Buy HCL Tech, Max Health.

RBL Bank: RBI appoints its CGM Yogesh Dayal as an additional director on the bank’s board for 2 years. Stock may under pressure after the series of news flow over the weakened and we advice investors to avoid the stock and not to buy on corrections.

Global market:
DOW:  +196
SGX NIFTY:   -30  (prev.close 16998)
NIFTY 50 : 17003
Sensex : 57124

Institution:
FII:                    -715 Cr
DII:                   -43 Cr

NSE:
Advances: 1497 / Declines: 1823

Currency:
Dollar: $ 75.02
Dollar Index: 96.12

Commodity:
Gold: $1811  per ounce
Crude: $76.05  per barrel

Bonds:
10 year US bond rate: 1.48
10 year Indian Bond rate: 6.46

Derivative:
PCR: 0.98
VIX:  16.14

Updates:

RBL bank: Board has accepted current MD & CEO Vishwavir Ahuja’s request to proceed on leave with immediate effect on medical grounds just after RBI appoints its CGM Yogesh Dayal as an additional director on the banks board for 2 years. The board has appointed current ED Rajeev Ahuja as interim MD & CEO of bank with immediate effect. In another news, ace investors Rakesh jhunjhunwala and RK Damani approached RBI to buy 10 % stake in the company. RBI is in the process of examining the request.

SRF & Hindalco: Govt imposes Anti-dumping duty on HFC & HFC components and flat rolled aluminum components for 5 years from china. SRF & Hindalco are the largest manufacturer of Hydrofluorocarbons components and flat rolled aluminum products respectively.

Securities in Ban: ESCORTS, IDEA, IBULHSGFIN.

Derivative View : VIX closed at 16.14. 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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