Insight Online News
From Advisory Desk : Vikash Sahay
20th December 2021
Market Outlook: Globally, the markets have started the week on a weak note, with SGX Nifty is trading lower by 100 points as surging Omicron cases triggered tighter restrictions in Europe and many parts of the world. Dollar index remained strong and continues its upward journey trading at 96.60. Last week, Indian markets witnessed selling pressure in many sectors except IT stocks. One should keep positions light in the market as we expect further downside in the short term.
Actionable: Buy Infosys, Wipro, Max Health.
IPO listing: Shriram Properties shares to start trading in exchanges today after oversubscribed by 4 times.
SGX NIFTY: -100 (prev.close 17019)
NIFTY 50 : 16985
Sensex : 57011
FII: -2070 Cr
DII: +1479 Cr
Advances: 983 / Declines: 2353
Dollar: $ 76.08
Dollar Index: 96.67
Gold: $1801 per ounce
Crude: $71.85 per barrel
10 year US bond rate: 1.37
10 year Indian Bond rate: 6.41
Cipla: Company receives USFDA approval for ANDA Lanreotide injection ( generic version of Somatuline Depot) which has an annual US sales of $ 867 million for the 12 month ending October 2021.
Securities in Ban: ESCORTS, IDEA, IBULHSGFIN.
Derivative View : VIX closed at 16.33. Immediate max Put OI is at 16800 then 16900. Max Call OI is at 17200 then 17100. Option data suggests a trading range between 16800 to 17200.