Insight Online News
From Advisory Desk : Vikash Sahay
29th July 2022
Market Outlook: The post FED relief rally remains in full swing despite negative GDP growth for the second consecutive quarter in US. Following the economic data, stocks rallied on anticipation of less-hawkish FED while treasury yields and dollar index weekened further. US futures were also trading in positive after strong earnings from Amazon and Apple. Asian markets have started on a positive note. Yesterday, nifty remained strong throughout the day on account of global cues. With today’s gap-up opening of around 180 points, Nifty will trade above the 200-DMA of 17030 and the same needs to sustain for further rally towards 17400.
Actionable: Buy ICICI bank, Tech Mahindra, SRT Finance, Deepak Nitrite.
SGX NIFTY: +180 (prev. close 16947)
NIFTY 50 : 16929
Sensex : 56857
FII: + 1638 Cr
DII: + 600 Cr
Advances: 1830 / Declines: 1510
Dollar: $ 79.76
Dollar Index: 106.21
Gold: $1751 per ounce
Crude: $102.50 per barrel
10 year US bond rate: 2.69
10 year Indian Bond rate: 7.33
Today’s Result – HDFC, NTPC, Sun Pharma, Cipla, IOC, Ashok Leyland, DLF, Emami, Exide Industries, Nazara Technologies, Piramal Enterprises, CARE Ratings, CarTrade Tech, Cholamandalam Investment, CreditAccess Grameen, Deepak Fertilisers, Easy Trip Planners, 3i Infotech, Great Eastern Shipping, GMR Infrastructure, Godrej Agrovet, Heritage Foods, JK Paper, Mahindra Logistics, Metro Brands, Rain Industries, Route Mobile, Strides Pharma Science, Star Health and Allied Insurance Company, Torrent Pharm, VST Industries, and Zydus Wellness.
Saturday’s Result – Bank of Baroda, DCB Bank, Godfrey Phillips India, IDFC First Bank, Indian Bank, MCX, Mahindra Holidays & Resorts India, and Venus Remedies.
Above estimates: SBI Card, SBI Life, TVS Motors, SRT Finance, Jubilant Foodworks, Bajaj Finserve, NOCIL, Ajanta Pharma, MRPL, Westlife Development
Inline estimates: Nestle, Dr Reddy’s, SONA BLW, AAVAS Financiers
Below estimates: Shree cements, Vedanta, United Breweries, Dr Lalpath labs, M&M Finance
Indus Towers – Managing Director and CEO Bimal Dayal has resigned.
Telecom – After 16 rounds of bidding for 5G spectrum auction, the government has fetched bids worth Rs.1,49,623 crore on the third day. High interest continued to be seen for spectrum in 1800 MHz band in UP East circle, where Jio and Airtel were involved in intense bidding on Thursday.
Last day to buy Bharti Airtel, GAIL (India), IIFL Wealth Management, Sudarshan Chemical Industries to be eligible for dividend.
Securities in Ban: NIL.
Derivative View: Immediate Max Put OI is at 16800 and 16700 and Max Call OI is at 17500 and 17200. Option data suggests a wider trading range in between 16700 to 17500.