Actionable: Buy HDFC Bank, Ambuja Cements( Only in cash), ITC.

Insight Online News

From Advisory Desk : Vikash Sahay

14th September 2022
 
Market Outlook: Red hot inflation triggers biggest one day fall in US equity indices in two years. Headline inflation numbers fell MoM while core CPI raises much higher than expected. Following the data, dollar index and treasury yields surged as markets positioned for an even more hawkish FED. SGX Nifty is indicating a 300 points gap down opening for indian markets largely inline with Asian and US spot markets. We expect outperformance and also may see some stability in our markets once dust settles from initial reaction to global sell-off. Immediate support for Nifty placed at 17777 level.

Actionable: Buy HDFC Bank, Ambuja Cements( Only in cash), ITC.

MOSt Discovery IPO: Harsha Engineers International Ltd  – Subscribe for Listing Gains (Price Band: INR314 – INR330, 14th Sept to 16th Sept).
 
Global market:
DOW:   -1276
SGX NIFTY:   -300   (prev. close 18092)
NIFTY 50 : 18070
Sensex : 60571
 
Institution:
FII:                 +  1957  Cr
DII:                 –   1268  Cr

NSE:
Advances: 1818 / Declines: 1677

Currency:
Dollar: $ 79.15
Dollar Index: 109.90
 
Commodity:
Gold: $1708  per ounce
Crude: $93.20  per barrel
 
Bonds:
10 year US bond rate: 3.45
10 year Indian Bond rate: 7.10

Derivative:
PCR: 0.95
VIX:  17.47
 
Updates:
 
BEL – Today is the last day to buy shares to be eligible for bonus (2:1 ratio).
 
KEC International – Company secured new orders of Rs.1108cr across its various businesses.
 
Bharat Forge – Subsidiary Kalyani Powertrain Ltd and Harbinger Motors Inc. to form a JV focused on developing electric drivetrain solutions for the commercial vehicle market.
 
JSW Steel – Company signs MoU with SMS group for Carbon reduction projects and plans to invest Rs.10,000cr to reduce carbon emissions.
 
Ambuja Cement – Board meet is on Sept 16 to consider fund raise.
 
Infosys – Company has collaborated with Bpost (Belgium Post) in Europe to secure cloud environment and build robust cyber resilience for Bpost’s mail delivery and logistics services.

Securities in Ban: Ambuja Cements, Delta Corp, Indiabulls Housing Finance.
 
Derivative View: Immediate max Put OI is at 17500 and 18000 and max Call OI is at 18500 and 18200. Option data suggests an immediate trading range in between 17500 to 18200.

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