Actionable: Buy ITC, NTPC, MGL.                             

Insight Online News

From Advisory Desk : Vikash Sahay

14th March 2023: Market Outlook: US markets closed mixed on Monday amid a sharp correction in bond yields, with investors hoping that the collapse of some US banks would soften the Federal Reserve’s rate hike cycle, while banking stocks continued to bleed over concerns of contagion risk. Looking ahead, futures were trading higher ahead of the release of the CPI data tonight. The Asian markets have opened on a weak note while SGX Nifty is indicating a mildly positive opening. On the domestic front, CPI inflation slightly moderated to 6.44% in Feb, almost inline with consensus. The India VIX has surged by around 20% and now it is trading above 16 level. We anticipate that the market will trade sideways to the negative, and we expect the volatility to remain high.
 
Actionable: Buy ITC, NTPC, MGL.                             
 
Global market:
DOW:  – 90
SGX NIFTY:   + 30   (prev. close 17179)
NIFTY 50 : 17154
Sensex : 58237
 
Institution:
FII:                –  1547   Cr
DII:               +  1419  Cr
 
NSE:
Advances:  695  / Declines:  2915
 
Currency:
Dollar: $ 82.12
Dollar Index: 103.90
 
Commodity:
Gold: $ 1911  per ounce
Crude: $ 80.40  per barrel
 
Bonds:
10 year US bond rate: 3.56
10 year Indian Bond rate: 7.37
 
Derivative:
PCR: 1.04
VIX:  16.21
 
Updates:
 
Lupin – The USFDA completed its inspection of the company’s bioresearch centre in Pune. The inspection was closed without any observations.
 
Data Pattern – QIP Update -The Fund Raising committee approved the issue price of Rs.1220.31/ Share, a discount of 5% on the Floor Price of Rs.1284.53/ Share.
 
Embassy Office Parks REIT – Company has committed over Rs.300 crore for ongoing green initiatives across its commercial projects.
 
Dividend 
 
GAIL – Company approves interim dividend of Rs4 per share (Yield 3.8%)
 
Nalco – Company approves interim dividend of Rs2.50 per share (Yield 3%)
 
Securities in Ban: GNFC.
 
Derivative View: Weekly Maximum Call OI is at 17500 then 17400 strike while Maximum Put OI is at 17000 then 16800 strike. Option data suggests an immediate trading range in between 17000 to 17500 zones.