From Advisory Desk : Vikash Sahay
21st June 2021
Market outlook: Dow futures is trading half a percent lower, after Dow Jones closed 1.5% lower on Friday after the FED officials indicated a rate hike much ahead of the anticipated time. Asian markets too have started in red by over one percent, with Nikkei shedding over 3.5% and SGX Nifty loosing 200 points. Dollar index are at two months high. On Friday, Indian market have made a smart recovery in the later part of trading session, after opening gap down in the start, but today it seems to open lower. We remain cautious on the market in the near term with a crucial support at 15400.
Actionable: Buy HUL and Infosys.
SGX NIFTY: -170 (prev.close 15750) (SGX nifty close 67 points higher than Nifty 50 close price)
NIFTY 50 : 15683
Sensex : 52344
FII: +2681 Cr
DII: +446 Cr
Advances: 1096 / Declines: 2127
Dollar: $ 73.86
Dollar Index: 92.24
Gold: $1771 per ounce
Crude: $74.15 per barrel
10 year US bond rate: 1.42
10 year Indian Bond rate: 6.01
PNB Housing finance: Company has received a letter from SEBI asking the company to pause it’s Rs.4,000 crore of preferential issue to a consortium of investors led by Carlyle group. SEBI is examining the deal after a proxy advisory firm questioned a proposed investment.
Bandhan bank: Assam govt announced a MFI package includes complete loan waiver of highly stressed borrowers, repayment of overdues and incentives to regular borrowers which will costs maximum of Rs.8250 crore to the government. Assam contributes 12% of the total loans to the company and 25% of the exposure loans already written off.
Telecom Sector: As per TRAI’s data for March 2021, RJio’s monthly gross and active subscribers got a boost from the launch of Jiophone and Bharti Airtel continued its healthy streak, Reliance Jio & Bharti airtel added 7.9 million & 4.1 million wireless subscribers in March vs 4.3 & 3.7 million subscribers in February. Vodafone idea additions remained positive for the second month in a row, with 1.1 million subscribers in March vs 0.7 million in Feb 2021.
Securities in BAN: ADANIPORTS, BHEL, PNB, SUNTV.
Derivative View : VIX closed at 14.79. Max Put OI is at 15500 then 15600. Max Call OI is at 15800 then 16000. Option data suggests a trading range between 15500 to 16000.