Actionable: Buy ICICI bank, Titan, Infosys, Asian Paints.

Insight Online News

From Advisory Desk : Vikash Sahay

8th August 2022; Market Outlook: US markets ended mixed on Friday after a better-than expected jobs data report sparked renewed fears over inflation and more aggressive rate hikes. Crude oil prices remain stable after hitting eight-months low in previous session. Asian markets have started on a flat to negative, with SGX Nifty is indicating a slightly weak opening inline with US futures. On domestic front, FIIs were continues to remain as net buyers from last few sessions and bought nearly Rs.7,000 cr in the previous week. We continue to recommend with buy on dips strategy and immediate resistance for Nifty placed at 17500.

Actionable: Buy ICICI bank, Titan, Infosys, Asian Paints.

Global market:

DOW: +76

SGX NIFTY: -40 (prev. close 17423)

NIFTY 50 : 17397

Sensex : 58387

Institution:

FII: + 1606 Cr

DII: – 496 Cr

NSE:

Advances: 1808 / Declines: 1543

Currency:

Dollar: $ 79.23

Dollar Index: 106.64

Commodity:

Gold: $1790 per ounce

Crude: $94.90 per barrel

Bonds:

10 year US bond rate: 2.82

10 year Indian Bond rate: 7.30

Derivative:

PCR: 0.91

VIX: 18.91

Today’s Result – Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid Corporation of India, NALCO, Astrazeneca Pharma India, Chemcon Speciality Chemicals, City Union Bank, Delhivery, Dhanlaxmi Bank, Gujarat Narmada Valley Fertilizers & Chemicals, Housing & Urban Development Corporation, JK Tyre & Industries, Jaypee Infratech, Vedant Fashions, Samvardhana Motherson International, Sequent Scientific, Sun Pharma Advanced Research Company, Subex, Torrent Power, and Whirlpool.

Results update:

Above estimates: Titan, NMDC, Marico, ABFRL, Green Ply, West coast paper, Vishnu chemicls, Raymond, V-Mart

Inline estimates: M&M, MGL, Akzo Nobel, CCL products, Petronet LNG

Below estimates: SBI, Alkem Labs, Vinati Organics, HPCL, BPCL, Paytm

Updates:

Reliance – Company announced date of its 45th AGM as August 29, 2022. The company has fixed August 19 as the record date for the FY22 dividend, which might be declared at the AGM.

Tata Motors – Company Signs Definitive Agreement for the acquisition of Ford India’s Sanand plant for Rs.726 cr.

CCL Product – Company to establish green field spray dried instant coffee manufacturing facility through a new WOS with a capacity of 16,000 Mts pa with an estimated capital outlay of Rs.320 Cr in Andhra Pradesh.

Nykaa – Board approved acquisition of 100% stake of lluminar Media Private Limited.

Coal India – Company is Seeking shareholders’ approval to enter new business areas, including mining of critical minerals, such as lithium and cobalt, producing hydrogen as well as manufacturing and selling energy storage batteries.

Maruti Suzuki India – Chairman RC Bhargava said the company is currently aiming to produce 20 lakh units in the ongoing fiscal (FY23) and will increase the production with improving availability of semiconductors.

Securities in Ban: Balrampur Chini, Delta Corp, Escorts.

Derivative View: Immediate Max Put OI is at 17000 and 17300 and Max Call OI is at 17500 and 17600. Option data suggests a wider trading range between 17000 to 17800.

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