Actionable: Buy in TCS, HDFC BANK.

Insight Online News

From Advisory Desk : Vikash Sahay

23rd June 2022

Market Outlook: US market recovered solid early losses, but later gave up decent gains to close slightly red. Fed chief Jerome Powell sticking to fight against inflation, but he stressed that the US economy is very strong and well positioned to cope with tighter monetary policy. Crude Oil prices fell significantly below $110 bbl due to demand slowdown in fear of recession concerns. Yesterday Nifty remained under pressure throughout the day with fresh selling pressure at every small bounce. Asian market signal subdued starts, SGX Nifty indicating flat to positive opening. Today being weekly expiry, we expect Nifty’s range to be 15200-15550/15735 and Bank nifty’s range to be 32250-33500

Actionable: Buy in TCS, HDFC BANK.

Global market:

DOW: -47

SGX NIFTY: +50 (prev.close 15397)

NIFTY 50 : 15413

Sensex : 51822

Institution:

FII: – 2921 Cr

DII: + 1859 Cr

NSE:

Advances: 1184 / Declines: 2147

Currency:

Dollar: $ 78.38

Dollar Index: 104.16

Commodity:

Gold: $1837 per ounce

Crude: $110.15 per barrel

Bonds:

10 year US bond rate: 3.13

10 year Indian Bond rate: 7.39

Derivative:

PCR: 0.93

VIX: 21.30

Updates:

Vodafone Idea: Company’s board approved raising of funds up to Rs 436.21 crore from promoter Euro Pacific on a preferential basis. In another news, Vodafone Idea has decided to defer Rs 8837 crore worth of adjusted gross revenue (AGR) dues for four years.

Glenmark Pharma: USFDA issued form 483 with six observations for Baddi Plant.

IRB Infrastructure Developers: Company received 75 percent of the arbitration award of Rs 419 crore from IRB Pathankot Amritsar Toll Road Ltd, an SPV of IRB InvIT Fund.

Bajaj Auto: To further deliberate on the proposal for share buyback, a meeting of the board of directors is scheduled to be held on Monday, June 27,

Securities in Ban: Indiabulls Housing Finance, RBL Bank, Sun TV Network.

Derivative View : VIX closed at 21.30. Immediate Max Put OI is at 15500 and 15000 and Max Call OI is at 16000 and 16500. Option data suggests an immediate trading range between 15200 to15550/15735.

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