Actionable: Buy HUL, HCL Tech, HDFC Bank & Asian paints.

Insight Online News

From Advisory Desk : Vikash Sahay

18th August 2021

Market Outlook: Nifty IT and FMCG are the torch bearer of the ongoing run of Nifty. SGX Nifty is indicating Nifty’s opening above 16600. Asian markets too have started in green with half a percent. RBI has stated that the inflation has peaked out, which is positive for market sentiments. Today being weekly expiry, we expect Nifty’s range to be 16500-16750  and Bank Nifty’s to be 35500-36250.

Actionable: Buy HUL, HCL Tech, HDFC Bank & Asian paints.

Global market:
DOW:  -282
SGX NIFTY:   +25  (prev.close 16603)
NIFTY 50 : 16614
Sensex : 55792

Institution:
FII:                      -344 Cr
DII:                     +266 Cr

NSE:
Advances: 1081 / Declines: 2089

Currency:
Dollar: $ 74.35
Dollar Index: 93.10

Commodity:
Gold: $1789  per ounce
Crude: $68.95  per barrel

Bonds:
10 year US bond rate: 1.26
10 year Indian Bond rate: 6.23

Derivative:
PCR: 0.97
VIX:  13.41

Updates:

HCL technologies: Signed a five-year, end-to-end IT transformation services deal with Wacker Chemie AG, a German multinational chemical company, to establish a modernized digital workplace and improve its quality-of-service delivery.

Hdfc bank: RBI partially lifts technology ban on the company, allowing it to resume issuing credit cards. However, restrictions on new digital initiatives remain. Before the ban, the bank added more than 1lakh credit card customers a month between April and November.

Sugar companies: As per reports, Government is not considering any sugar export subsidies from the new season beginning October due to sharp rise in global prices which makes it easier to sell in exports markets without subsidy.

To boost exports, government on Tuesday announced rates of tax refunds under the export promotion scheme RoDTEP for 8,555 products in the sectors like Marine goods, yarn, dairy, agriculture, leather, automobile, plastics, electrical, electronics machinery, jems and jewellery etc. The government has set aside Rs.12,454 cr for refunds under the scheme and tax refund rates range from 0.5-4.3% for various sectors which are lower than expected. However, steel, chemical and pharma would not get the benefit under the scheme.

Securities in BAN: CADILAHC, CANBK, NALCO, PNB, SAIL, SUNTV, VEDL.

Derivative View : VIX closed at 13.41. Max Put OI is at 16500 then 16400. Max Call OI is at 16700 then 16800. Option data suggests a trading range between 16400 to 16800.

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