Actionable: Buy Infosys, SBI, Reliance industries.

Insight Online News

From Advisory Desk : Vikash Sahay

1st February 2022

Market outlook: Today, Union budget is the most looked upon event. Overall, we expect budget continue to be fiscal prudence and focus on supporting economic growth. The economic survey projected strong GDP growth at 8-8-5 % for next year which should provide resilience to the markets. Yesterday, US markets ended on a strong note. SGX Nifty is indicating a gap up opening on account of global cues and strong GST collections. In short term, markets may remain volatile. However, with a long term view, we remain positive on markets and advise to accumulate quality stocks in a staggered manner. Today, Infra, Capital goods, Manufacturing, Real estate and PSU sectors will be in focus ahead of budget.

Actionable: Buy Infosys, SBI, Reliance industries.

Global market:
DOW:  +406
SGX NIFTY:   +150  (prev.close 17348)
NIFTY 50 : 17339
Sensex : 58014

Institution:
FII:                    – 3624 Cr
DII:                   +3649 Cr

NSE:
Advances: 1831 / Declines: 1711

Currency:
Dollar: $ 74.61
Dollar Index: 96.68

Commodity:
Gold: $1797  per ounce
Crude: $89.45  per barrel

Bonds:
10 year US bond rate: 1.78
10 year Indian Bond rate: 6.68

Derivative:
PCR: 0.88
VIX:  21.95

Today’s results announcement: Tech mahindra, ABFRL, Adani ports, Cholamandalam investments, Elecon engineering, Gujarat Ambuja exports, Indian hotels, Indoco remedies, Jubilant ingrevia, JSPL, Kansai nerolac, Laxmic organics, P&G healthcare, Poonawalla fincorp, Sona BLW, TTK presitage, VIP industries.

Results update:
Above estimates: Sun pharma, UPL
Inline estimates: Tata motors, Ajanta pharma, IOC, BPCL, Navin Flourine, Exide
Below estimates: HPCL, Vinati organics, KEC international

Securities in Ban: NIL.

Derivative View : VIX closed at 21.95. Immediate max Put OI is at 17000 then 16800. Max Call OI is at 17500 then 17800. Option data suggests a wider trading range between 16800 to 17800.

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