Actionable: Buy ICICI bank, ABFRL, Zee Entertainment, KPIT Tech.

Insight Online News

From Advisory Desk : Vikash Sahay

25th August 2022

Market Outlook: US markets has witnessed a subdued session heading into Jackson Hole meeting and Economic data tomorrow. SGX Nifty is indicating a positive opening for indian markets inline with Asian markets and US futures. Yesterday, indian markets closed marginally higher in a volatile session led by rally in private banking stocks. One can expect stock specific action will continue. Today being monthly expiry, we expect higher volatility with Nifty’s range to be 17442-17777 and Banknifty’s range to be 38500/38750 – 39500/39750,

Actionable: Buy ICICI bank, ABFRL, Zee Entertainment, KPIT Tech.

Global market:

DOW: +59

SGX NIFTY: +70 (prev. close 17615)

NIFTY 50 : 17604

Sensex : 59085

Institution:

FII: + 23 Cr

DII: – 322 Cr

NSE:

Advances: 2053 / Declines: 1349

Currency:

Dollar: $ 79.81

Dollar Index: 108.39

Commodity:

Gold: $1768 per ounce

Crude: $102 per barrel

Bonds:

10 year US bond rate: 3.10

10 year Indian Bond rate: 7.29

Derivative:

PCR: 0.91

VIX: 18.43

Updates:

Bharti Airtel – Singapore Telecommunications Ltd would sell a 3.3% stake in Bharti Airtel Ltd to Bharti Telecom Ltd for $1.61 billion or Rs.12,900 crore. Deal at around Rs.650 per share or 12% effective discount to market price.

PB Fintech – Company approved investment of $4M in shares of YKNP marketing management. Approved further investment upto Rs.250cr in unit Paisabazaar marketing and consulting and approved investment Rs.650cr in Policybazaar Insurance brokers.

BEML – Company set record date for demerger is as September 9.

Lupin – Company acquires brands Ondero and Ondero Met from Boehringer Ingelheim International GmbH for EUR 26 million. The brands relate to medicines for the diabetic segment.

Torrent Pharma – Company is set to acquire Curatio Healthcare, a manufacturer of skincare products. The deal will value Curatio at ₹2,100 crore. The deal is expected to be signed in the next two week.

Securities in Ban: RBL Bank.

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 17300 to 17800.

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