Actionable: Buy Infosys, HDFC Ltd, L&T.

Insight Online News

From Advisory Desk : Vikash Sahay

24th September 2021

Market Outlook: Global markets recovered smartly after FED meeting and worries over Evergrande issue abating. Asian markets have started on flat to positive note, with SGX is trading flat.Yesterday, Nifty opened on a positive note with gap up and thereafter gradually moved to all time high majorly led by Nifty Bank and Nifty Realty. Overall, we expect the positive trend will remain however profit booking may not be ruled out after the recent recovery and a head of weekened. IT stocks will be focus as global IT firm Accenture posted steller Q4 results.

Actionable: Buy Infosys, HDFC Ltd, L&T.

Global market:
DOW:  +506
SGX NIFTY:  +35  (prev.close 17829)
NIFTY 50 : 17822
Sensex : 59885

Institution:
FII:                     +358 Cr
DII:                    +1173 Cr

NSE:
Advances: 1913 / Declines: 1347

Currency:
Dollar: $ 73.64
Dollar Index: 93.07

Commodity:
Gold: $1749  per ounce
Crude: $77.65  per barrel

Bonds:
10 year US bond rate: 1.43
10 year Indian Bond rate: 6.14

Derivative:
PCR: 0.86
VIX:  16.60

Updates:

AB Capital: Board approves proposed IPO of its subsidiary company Aditya Birla Sun Life AMC. IPO issue opens on 29th sep and closed on 1st Oct. The price band for the IPO has been fixed at Rs. 695-712 per share.

IT stocks: Global IT firm Accenture posted strong Q4 results with double digit growth in all segments, in al markets and across the verticals. Co expects revenue growth of 12-15% and margin guidance increased by 10-30 bps for FY22.

Dilip Buildcon: Supreme court through its order confirms appointment of DBL- VPR consortium as the mine developer cum operator by punjab state power corporation limited at the pachhwara central coal block mine. The total contract value of the tender is Rs. 32,156 crore. As a result, DBL- VPR consortium has been conferred with the absolute rights to undertake the mining developer cum operator works at mine.

Securities in BAN: ESCORTS, CANBK, IBULHSGFIN, IDEA, IRCTC, PNB.

Derivative View : VIX closed at 16.49. Max Put OI is at 17500 then 17700. Max Call OI is at 18000 then 17800. Option data suggests a trading range between 17500 to 18000.

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