Actionable: Buy HDFC Bank, L&T, ABFRL, Patanjali.

Insight Online News

From Advisory Desk : Vikash Sahay

6th September 2022

Market Outlook: Indian equity indices started the week on a robust note despite weak global cues as domestic economic indicators are strong. European market ended lower on the energy shortage concern. China cuts forex reserve ratio by 2% to support tumbling yuan and it will release around $19 billion into the country. OPEC+ decided to cut production targets by 1 lac barrels per day from October. SGX Nifty hinting flat opening inline with US future and Asian markets. Overall, we remain positive on markets and recommending to buy on dips.

Actionable: Buy HDFC Bank, L&T, ABFRL, Patanjali.

Global market:
DOW: 31318 (unchanged)
SGX NIFTY: +25 (prev.close 17684)
NIFTY 50 : 17665
SENSEX : 59245

Institution:
FII: – 812 Cr
DII: + 534 Cr

NSE:
Advances: 2191 / Declines: 1382

Currency:
Dollar: $ 79.84
Dollar Index: 109.45

Commodity:
Gold: $1729 per ounce
Crude: $94.95 per barrel

Bonds:
10 year US bond rate: 3.21
10 year Indian Bond rate: 7.21

Derivative:
PCR: 0.88
VIX: 19.66

Updates:

Reliance Industries – RIL acquires 79.8% stake in SenseHawk for $32 million. SenseHawk is an early-stage California-based developer of software-based management tools for the solar energy generation industry.

Narayana Hrudayalaya – Company signed a Business Transfer Agreement with Shiva and Shiva Orthopaedic Hospital Pvt Ltd to acquire its Orthopedic and Trauma Hospital in Bengaluru for Rs 200 cr.

NTPC – Company will acquire 50% share in Jhabua Power for 600 MW at Rs 925 cr.

Securities in Ban: Delta Corp.
 
Derivative View: Immediate max Put OI is at 17000 and 17500 and max Call OI is at 18000 and 18500. Option data suggests an immediate trading range between 17000 to 18000.

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