Actionable : Buy ICICI Bank and HDFC Ltd

From Advisory Desk : Vikash Sahay

10th November 2020 : Market Outlook ; The statement by Pfizer-BioNtech about the vaccine in the last trial phase has been proving 90% effective and thus markets across the globe cheered up. Dow up by 2%, Asian markets up by 1-2%. Gold and Silver down by 5% and 7% respectively. FIIs have bought 15000 cr in last three trading session. SGX Nifty is up by 170 points. Bank Nifty is still 15% away from life high and thus Banking counters is to look for. At the same time, we may see profit booking in “Stay at home” stocks- like IT.

Actionable: Buy ICICI Bank and HDFC Ltd.

Global market:
DOW: +834
SGX NIFTY: +160 (prev.close 12498)
NIFTY 50 : 12461
Sensex : 42597

Institution:
FII: +4548 Cr
DII: -3036 Cr

NSE:
Advances: 1485 / Declines: 1206

Currency:
Dollar: $ 74.16

Commodity:
Gold: $1874 per ounce
Crude: $41.95 per barrel

Bonds:
10 year US bond rate: 0.92
10 year Indian Bond rate: 5.88

Today’s results announcement: GAIL, M&M, Hindalco, Aarti Industries, Alkyl Amines, Aster DM Healthcare, Bata, Exide Industries, GMR Infra, Godfrey Phillips, Hindustan Copper, Info Edge, JB Chemicals, Kaveri Seed, Motherson Sumi, NCC, Raymond, RCF, RITES, Sadbhav Infra, Symphony, Tata Power, TTK Prestige, V-Mart Retail.

Results update:
Above estimates: JK cement, Indiamart, Equitas small finance bank, Hindalco( Novelis subsidiary)

Updates
Crompton Consumer: Two of the big shareholders of the company plans to sell upto 3.83cr shares in the company via block deal today at a floor price of Rs.290 per share which is a discount of 5% to yesterday’s closing price.

Pfizer : Company says early analysis shows that its Covid-19 vaccine is 90% effective.

Securities in Ban: SAIL, JINDALSTEL

Derivative View : VIX closed at 20.11. Max Put OI is at 12300 then 12000. Max Call OI is at 12700 then 12500. Option data suggests a trading range between 12000 to 12700.

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