Actionable: Buy HDFC Ltd, Bata India.

Insight Online News

From Advisory Desk : Vikash Sahay

26th May 2022

Market Outlook: US markets rallied more than one percent after the FED meeting minutes released which indicates that less hawkish note than markets had expected. Following the news, asian markets have started on a flat to positive note, with SGX Nifty is indicating a positive start.  Yesterday, Nifty remained under pressure throughout the day inline with global cues. Today being monthly expiry, we expect higher volatility with Nifty’s range to be 15950-16250 and Banknifty’s range to be 33750-35000.

Actionable: Buy HDFC Ltd, Bata India.

Global market:
DOW:   +191
SGX NIFTY:   +100   (prev. close 16021)
NIFTY 50 : 16025
Sensex : 53749

Institution:
FII:                    –  1803 Cr
DII:                   +  2230  Cr

NSE:
Advances: 662 / Declines: 2671

Currency:
Dollar: $ 77.52
Dollar Index: 102.02

Commodity:
Gold: $1851  per ounce
Crude: $111.15  per barrel

Bonds:
10 year US bond rate: 2.75
10 year Indian Bond rate: 7.30

Derivative:
PCR: 0.90
VIX:  25.28

Today’s results announcement: Hindalco Industries, Motherson Sumi Systems, Muthoot Finance, Zee Entertainment Enterprises, Aarti Surfactants, Oberoi Realty, Aban Offshore, AllCargo Logistics, Ansal API, Astrazeneca Pharma, Berger Paints, Colgate Palmolive India, Cummins India, Good Year India, Gujarat State Fertilizers Corporation, India Glycols, Jet Airways, Kirloskar Industries, Chemcon Speciality Chemicals, NMDC, Page Industries, Prestige Estate Projects, Quess Corp, Shalimar Paints, and Sudarshan Chemicals.

Results update:

Above estimates: Bata India, NALCO, Deepak fertilizers

Inline estimates: Torrent pharma, Apollo Hospitals, Coal india, BPCL, Ashoka Buildcon

Below estimates: Hindustan zinc, Indigo

Updates:

Vodafone Idea – The government has proposed to acquire 33.4 percent stake in the telecom operator.

LT Foods/ KRBL – The government may consider export restrictions on rice after wheat and sugar to ensure adequate domestic supplies and prevent a rise in prices.

Bharti Airtel – Singapore Telecommunications Limited, commonly known as Singtel, has initiated talks with Bharti airtel chairman Sunil Mittal to sell a small part of its holding in the Indian telco to the Mittal family. While the exact quantum and details of the transaction have not yet been worked out, people in the know said the Singapore company could sell stake worth $1-2 billion to the Indian promoter through a mix of Bharti Telecom and Bharti Airtel share sales.

Securities in Ban: NIL.

Derivative View : VIX closed at 25.28. Max Put OI is at 16000 and 15800. Immediate max Call OI is at 16200 and 16400. Option data suggests a wider trading range between 15800 to 16400.

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