Actionable: Buy Hindalco Industries, Eicher motors, L&T, Coal India.

Insight Online News

From Advisory Desk : Vikash Sahay

11th August 2022

Market Outlook: Global equity markets are witnessing a sharp rally on account of softer than expected US inflation data. US cash markets closed higher by 2-3% and even futures were trading in positive. Dollar index plunged 1% following the CPI numbers while oil prices rose slightly on weak dollar and easing of aggressive rate hikes by FED. Asian markets including SGX Nifty have started on a strong positive note. We remain positive on markets and expect the momentum to continue. Today being weekly expiry, we expect Nifty’s range to be 17442-17777/17850 and Banknifty’s range to be 37777-39000.

Actionable: Buy Hindalco Industries, Eicher motors, L&T, Coal India.

Global market:

DOW: +535

SGX NIFTY: +200 (prev. close 17546)

NIFTY 50 : 17534

Sensex : 58817

Institution:

FII: + 1062 Cr

DII: – 768 Cr

NSE:

Advances: 1509 / Declines: 1903

Currency:

Dollar: $ 79.52

Dollar Index: 105.37

Commodity:

Gold: $1803 per ounce

Crude: $97.15 per barrel

Bonds:

10 year US bond rate: 2.79

10 year Indian Bond rate: 7.31

Derivative:

PCR: 0.96

VIX: 19.58

Today’s Result – Apollo Hospitals, Aster DM Healthcare, Aurobindo Pharma, Bata, Bharat Forge, Gujarat Ambuja Exports, Greaves Cotton, Garden Reach Shipbuilders & Engineers, Himadri Speciality Chemical, KNR Constructions, Page Industries, The Phoenix Mills, Puravankara, Quess Corp, Sapphire Foods India, Shilpa Medicare, Spencers Retail, Sunteck Realty, Trent, Vipul Organics, and Wonderla Holidays.

Results update:

Above estimates: Hindalco, Eicher motors, Coal India, Ashoka Buildcon, Pidilite industries, IRCTC, Cummins, Glenmark Pharma, Allcargo Logistics, Max Health, HCG, Nava

Inline estimates: IPCA Labs, Tata Consumer, Zydus Lifesciences, Avanti feeds, VRL logistics

Below estimates: Oil India, Endurance Technologies, Metroplois, Medplus, PB Fintech

Updates:

IGL/MGL – The Central government will be diverting some of the natural gas from industries to city gas operators like Indraprastha Gas Ltd in Delhi and Mahanagar Gas Ltd in Mumbai to check the spiralling CNG and piped cooking gas prices.

Aviation Sector – The civil aviation ministry said that limits imposed on domestic airfares will be removed from 31 August, after a span of approximately 27 months. However, airlines will be free to decide what to charge passengers post 31 August.

Zomato – Company is targetting to achieve the breakeven level in overall business between the fourth quarter of this fiscal and the second quarter of FY24. Zomato reduced investment guidance to USD 320 million from USD 400 million for the next couple of years on quick commerce.

Securities in Ban: Balrampur Chini, Delta Corp.

Derivative View: Max Put OI is at 17000 and 17500 and Max Call OI is at 18000 and 17800. Option data suggests an immediate trading range between 17400 to 17800.

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