Actionable: Buy ICICI bank, TCS, Tata Motors.

Insight Online News

From Advisory Desk : Vikash Sahay

8th December 2021

Market Outlook: US markets extended rally by up to 3% led by tech stocks, as worries over impact of the Omicron eased. Asian markets have started on a positive note, with SGX Nifty is trading higher by 100 points. Yesterday, Indian markets recovered smartly from the previous day’s low on account of strong global cues and short covering. Metals were top gainers followed by banks & realty. Now, follow-up buying required for further up move. Bank Nifty is clearly showing strong strength from few days falling less in weak markets and leading in rally. Today, focus would be on RBI policy announcement at 10 AM.

Actionable: Buy ICICI bank, TCS, Tata Motors.

Global market:
DOW:  +492
SGX NIFTY:   +125  (prev.close 17211)
NIFTY 50 : 17176
Sensex : 57633

Institution:
FII:                    -2585 Cr
DII:                   +2606 Cr

NSE:
Advances: 2300 / Declines: 985

Currency:
Dollar: $ 75.44
Dollar Index: 96.21

Commodity:
Gold: $1790  per ounce
Crude: $75.25  per barrel

Bonds:
10 year US bond rate: 1.46
10 year Indian Bond rate: 6.39

Derivative:
PCR: 0.82
VIX:  18.46

Updates:

Nykaa: IPO Anchor investors lock in period will be open for selling from today onwards, stock may under pressure.

Reliance industries: Company announced strategic JV with TAZIZ, Abu Dhabi based chemicals derivatives company, for chemical projects worth $2 billion to produce wide range of industrial use chemicals like Chlor-Alkali, EDC and PVC.

Life insurance industry update : Industry reported overall APE growth of 26% YoY in Nov Month. Among listed players, MAX Life /SBI Life posted robust growth of 36% /30% YoY. IPRU life was up 13% YoY, while Hdfc life reported muted growth of 1.7%.

Securities in Ban: IBULHSGFIN.

Derivative View : VIX closed at 18.46. Immediate max Put OI is at 17100 then 16900. Max Call OI is at 17400 then 17300. Option data suggests a trading range between 16900 to 17400.

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