Actionable: Buy HCL Tech, Zee Entertainment, NMDC.

Insight Online News

From Advisory Desk : Vikash Sahay

22nd December 2021

Market Outlook: US markets rebounded sharply after a three day’s sell-off despite Omicron fear. Asian markets have started on positive note, with SGX Nifty is trading higher by 70 points. Yesterday, Indian markets opened with a gap up and continued the positive momentum but gradually slipped in the second half of the day due to selling at higher levels. IT stocks continue to witness fresh buying on expectation of strong Q3 results and benefits of INR depreciation. We expect the market to remain volatile.

Actionable: Buy HCL Tech, Zee Entertainment, NMDC.

INITIATING COVERAGE: APOLLO HOSPITALS | Multiple growth levers at play (APHS IN, Mkt Cap USD8.9b, CMP INR4706, TP INR5900, 25% Upside, Buy)

Global market:
DOW:  +560
SGX NIFTY:   +70  (prev.close 16828)
NIFTY 50 : 16770
Sensex : 56319

Institution:
FII:                    -1210 Cr
DII:                   +1405 Cr

NSE:
Advances: 2239 / Declines: 1095

Currency:
Dollar: $ 75.60
Dollar Index: 96.45

Commodity:
Gold: $1789  per ounce
Crude: $74.45  per barrel

Bonds:
10 year US bond rate: 1.46
10 year Indian Bond rate: 6.47

Derivative:
PCR: 0.88
VIX:  17.53

Updates:

HCL technologies: Company has signed a five year agreement with CEMEX, a global construction materials company. Hcl technologies to support CEMEX in its digital transformation.

Zee entertainment: As per reports, Board has approved amalgamation with Sony pictures. Following the merger, Sony to hold a majority stake of 50.8% in the mergers entity and Zee entertainment to hold 49.2%. Provision for Zee promoter family to increase stake from current 4% to upto 20% subject to clause like purchase at market value.

Securities in Ban: ESCORTS, IBULHSGFIN, ZEE Entertainment.

Derivative View : VIX closed at 17.53. Immediate max Put OI is at 16500 then 16700. Max Call OI is at 17000 then 16800. Option data suggests a trading range between 16500 to 17000.

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