Actionable: Buy Infosys, Bajaj Finance, SRF, Balrampur chini.

Insight Online News

From Advisory Desk : Vikash Sahay

22nd July 2022

Market Outlook: US stocks rebounded on a surge in tech shares, as Tesla’s better than expected results boosted the sector despite weak economic data. However, futures were trading lower by a half percent. The ECB raises interest rate by 50 bps first time in 11 years, joining the global peers in fight against the inflation. Crude oil prices remain steady in early trading after a sharp decline overnight on account of higher US gasoline stockpiles and returning of supply from Libya and Russia. Indian markets could open flat largely inline with Asian markets and ahead of major Nifty heavy weights reporting their numbers at the weekend. In contrast to the recent trend, FIIs remained as net buyers in cash for the fourth consecutive day while DIIs selling on a small-scale. We continue to remain with positive view as overall market texture is in Buy on dips mode.

Actionable: Buy Infosys, Bajaj Finance, SRF, Balrampur chini.

Global market:

DOW: +162

SGX NIFTY: +40 (prev. close 16617)

NIFTY 50 : 16605

Sensex : 55681

Institution:

FII: + 1799 Cr

DII: – 312 Cr

NSE:

Advances: 1944 / Declines: 1408

Currency:

Dollar: $ 79.94

Dollar Index: 106.78

Commodity:

Gold: $1715 per ounce

Crude: $104.90 per barrel

Bonds:

10 year US bond rate: 2.90

10 year Indian Bond rate: 7.44

Derivative:

PCR: 1.00

VIX: 16.85

Today’s Result – Reliance Industries, UltraTech Cement, JSW Steel, HDFC Asset Management Company, Bandhan Bank, Coforge, Crompton Greaves Consumer Electricals, Finolex Industries, Andhra Cements, Atul, Bharat Gears, Gokaldas Exports, Greenpanel Industries, HFCL, Huhtamaki India, Mahindra CIE Automotive, Meghmani Organics, Sigachi Industries, Supreme Petrochem, Tinplate Company of India, Ugro Capital, and Zenotech Laboratories.

Weekend Results – Infosys, ICICI Bank, Kotak Mahindra Bank, Yes Bank, Karnataka Bank, Coastal Corporation, D-Link (India), eMudhra, Kewal Kiran Clothing, Navin Fluorine International, Steel Exchange India, Surana Telecom and Power, and Uttam Galva Steels.

Results update:

Above estimates: SRF, Can Fin Homes, Kajaria, PVR, Persistent systems, India Mart.

Inline estimates: Cyient, Hindustan Zinc, ICICI Sec, RBL Bank

Below estimates: Mphasis

Updates:

Biocon: The US Food and Drug Administration has concluded a pre-approval inspection for Site 3 of Biocon at Hyderabad in Telangana on July 20, with three observations.

Tata Group – The Tata group companies are in talks with leading banks and equity investors to raise funds for their capital expenditure (capex) plan of worth Rs 60,000 crore in the current financial year led by Tata Motors, Tata Power and Tata Steel.

Securities in Ban: RBL Bank, Delta Corp.

Derivative View: Immediate Max Put OI is at 16500 and 16300 and Max Call OI is at 16800 and 16700. Option data suggests a wider trading range in between 16300 to 16800.

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