Insight Online News
From Advisory Desk : Vikash Sahay
5th August 2022
Market Outlook: US markets closed in mix. However, futures were trading flat ahead of non-farm payrolls data today. Bank of england raised interest rates by 50 bps and warned a lengthy recession in the UK from Q4. Crude oil prices continue to fall further on demand worries and hits lowest level since the invasion of Ukraine. Asian markets have started on a positive note, with SGX Nifty is indicating a positive start for Indian markets. Today, RBI is set to announce its interest hike decision at 10 AM. Markets are expecting a hike in repo rate by around 35-50 bps to curb the inflation. India VIX has moved up to near 20 levels from past few sessions. We expect the volatility to continue and Nifty may face some resistance near 17450-500 zone.
Actionable: Buy Infosys, Asian paints, Cipla, Havells.
SGX NIFTY: +50 (prev. close 17397)
NIFTY 50 : 17382
Sensex : 58298
FII: + 1475 Cr
DII: – 47 Cr
Advances: 1484 / Declines: 1859
Dollar: $ 79.46
Dollar Index: 105.91
Gold: $1806 per ounce
Crude: $94.35 per barrel
10 year US bond rate: 2.68
10 year Indian Bond rate: 7.16
Today’s Result – Mahindra & Mahindra, Titan Company, Engineers India, NMDC, Nykaa, IRB Infrastructure Developers, One 97 Communications, Petronet LNG, ABFRL, Alkem Laboratories, Pfizer, Raymond, CAMS, Eris Lifesciences, Fortis Healthcare, Greenply Industries, Minda Corporation, Indigo Paints, Motherson Sumi Wiring India, R Systems International, Shipping Corporation of India, Talbros Engineering, UCO Bank, and Zensar Technologies.
Saturday’s Result – SBI, BPCL, HPCL, Marico, Advanced Enzyme Technologies, Affle (India), Amara Raja Batteries, Birla Corporation, Rossari Biotech, Skipper, Indo Rama Synthetics (India), Indian Overseas Bank, India Pesticides, Jagran Prakashan, Khadim India, Lumax Auto Technologies, Mahanagar Gas, Neogen Chemicals, Tarsons Products, Usha Martin, and West Coast Paper Mills.
Above estimates: Gail, Dalmia Bharat, Berger Paints, Gujarat Alkalies
Inline estimates: Dabur, GSPL, Container Corporation
Below estimates: Britannia, Lupin, Alembic Pharma, Balrampur Chini, BHEL, Solara International,
Reliance Industries – Reliance Brands Ltd has signed a strategic deal with the global luxury brand Balenciaga, to bring the best of global couture to the Indian market.
Steel Sector – The government is considering reducing or eliminating the export duty on steel products due to the falling prices and rising domestic supply. The duty reduction or removal may enable companies to tap overseas markets when domestic demand has dampened.
Adani Port – AD Ports Group and Adani Ports and SEZ Ltd Sign MoU for Joint Infrastructure Investments in end-to-end logistics infrastructure and solutions and the establishment of maritime academies in Tanzania.
BEL – Company has announced the bonus issue in a 2:1 ratio subject to shareholders approval in next AGM.
Adani Enterprises – Subsidiary Adani Road Transport Ltd (ARTL) has entered into a definitive agreement to acquire Gujarat Road and Infrastructure Company Ltd (GRICL) and Swarna Tollway Pvt Ltd (STPL) for Rs.3,110 crore. ARTL will acquire 56.8% of GRICL and 100% of STPL from Macquarie Asia Infrastructure Fund subject to regulatory approval.
Securities in Ban: 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.