Actionable : Buy Infosys, Axis  Bank, VBL.

Insight Online News

From Advisory Desk : Vikash Sahay

25th November 2022

Market Outlook: Yesterday, indian markets opened positive and witnessed sustained buying interest throughout the day to hit a new all time highs. Sensex and Nifty Bank hit record highs while Nifty managed a lifetime high closing led by Financials and IT stocks. Though today Asian markets are indicating a pause in the run but market looks good on every small dip. FIIs were turned into net buyers after 4 days of selling. Nifty Nov-Dec rollover stood at 82% which is higher than the three months average of 78%. The overall trend indicates that the Nifty is heading towards the landmark level of 19000.

Actionable: Buy Infosys, Axis  Bank, VBL.

Global market:

DOW:   +95
SGX NIFTY:   -30   (prev.close 18668)
NIFTY 50 : 18484
Sensex : 62272

Institution:

FII:                +   1232    Cr
DII:                –    236      Cr

NSE:

Advances:  1871 / Declines:  1642

Currency:

Dollar: $ 81.63
Dollar Index: 105.88

Commodity:

Gold: $1757  per ounce
Crude: $85.50  per barrel

Bonds:

10 year US bond rate: 3.67
10 year Indian Bond rate: 7.26

Derivative:

PCR: 0.99
VIX:  13.47

Updates:

Lupin – The USFDA has issued Form-483 with 8 observations for the drug product facility and API facility at Mandideep which they inspected during November 14-23, 2022. As per Lupin, this observations will not have an impact on disruption of supplies or the existing revenues from operations of this facility.

Allcargo Logistics – Subsidiary Allcargo Belgium NV has entered into a share purchase agreement with NBG Logistik Beteiligungs und Beratungsges mbH to acquire 75 percent stake in Fair Trade GmbH Schiffahrt, Handel und Logistik for Rs 101.95 crore.

Punjab National Bank – The Bank has received approval of DIPAM, Ministry of Finance, for divestment of stake in UTI Asset Management Company in single or multiple tranches, where PNB holds 15.22% and objective is to realise gain on investment.

Biocon – Biocon Biologics has allotted equity shares worth Rs 2,205.63 crore to parent company Biocon. Its stake in Biocon Biologics will be 88.85% post allotment of shares. Rs 2,205.63 cr ($270 m). It is in context with that Earlier this month, there was a proposed acquisition of biosimilars assets of Viatris, by Biocon Biologics.

Securities in Ban: NIL.

Derivative View: Maximum Call OI is at 19000 then 18500 strike while Maximum Put OI is at 18000 then 17000 strike. Call writing is seen at 20000 then 18500 strike while Put writing is seen at 18500 then 18300 strike.

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