Actionable : Buy HDFC Life & Kotak Bank

From Advisory Desk : Vikash Sahay

11th November 2020 : Market Outlook; Dow Jones closed up by 1.5%. However, the representative for “Stay at Home” stocks NASDAQ closed 1.5% down. Asian markets up by 1%. SGX Nifty is up by 50 points and crossed 12700. FIIs have bought INR 23,500 cr in current month. It is evident that the big money is moving from IT and Pharma to financials.

Actionable: Buy HDFC Life & Kotak Bank

Global market:
DOW: +262
SGX NIFTY: +55 (prev.close 12655)
NIFTY 50 : 12631
Sensex : 43277

FII: +5627 Cr
DII: -2309 Cr

Advances: 1208 / Declines: 1512

Dollar: $ 74.18

Gold: $1879 per ounce
Crude: $43.95 per barrel

10 year US bond rate: 0.96
10 year Indian Bond rate: 5.92

Today’s results announcement: Coal india, Power grid, Shree cement, Apollo hospitals, Aurobindo pharma, bharat forge, Abbott india, Brigade enterprises, IGL, LIC Housing finance, Petronet LNG, Prestiga estates, GMDC, Godrej industries, Finolex cables, Metropolis healthcare, SH Kelkar, MAS Financial services, Galaxy surfactants, Ashoka Buildcon.

Results update:
Above estimates: M&M, P&G Hygiene and Health, Motherson sumi, Tata power
Inline estimates: Hindalco, Team lease
Below estimates: GAIL, Exide industries


MSCI INDIA INDEX Changes Effective November 30 closing:

Additions: ACC, Adanigreen gas, Apollo Hospitals, Balkrishna industries, IPCA laboratories, Kotak mahindra bank, LTI, MRF, Muthoot Finance, PI Industries, Trent, Yes bank.

Deletions: Bosch, Lic housing finance

NMDC : Board approved buyback of 13.12 cr shares at Rs.105 per share aggregating to Rs.1378 cr. Company will buyback 4.29% of equity through tender route and set 23th November as record date.

Securities in Ban: JINDALSTEL.

Derivative View : VIX closed at 21.57. Max Put OI is at 12500 then 12400. Max Call OI is at 13000 then 12700. Option data suggests a trading range between 12400 to 13000.

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