Actionable: Buy Jubilant FoodWorks, Reliance, HCL Tech.

Insight Online News

From Advisory Desk : Vikash Sahay

18th August 2022
 
Market Outlook: US market ended lower after FOMC minutes announcement. Fed’s July Minutes suggested to support hiking rates to a restrictive level but easing the pace of hikes at some point. European stock markets fell as UK inflation surging to a new 40-year high at 10.1%. US futures and Asian markets including SGX nifty indicating marginal downside opening. Yesterday, Indian markets finished on higher note on seventh successive session and holding above its supply trendline. Today being weekly expiry, we expect Nifty’s range to be 17777-18150 and Bank-nifty’s range to be 38888-39750/40000.
 
Actionable: Buy Jubilant FoodWorks, Reliance, HCL Tech.
 
Global market:
DOW: -171
SGX NIFTY: -20 (prev.close 17968)
NIFTY 50 : 17944
SENSEX : 60260
 
Institution:
FII: + 2347 Cr
DII: – 510 Cr
 
NSE:
Advances: 1960 / Declines: 1460
 
Currency:
Dollar: $ 79.44
Dollar Index: 106.56
 
Commodity:
Gold: $1779 per ounce
Crude: $93.75 per barrel
 
Bonds:
10 year US bond rate: 2.87
10 year Indian Bond rate: 7.18
 
Derivative:
PCR: 0.92
VIX: 17.67
 
 
Updates:
 
ONGC: Company signed a Heads of Agreement (HoA) with ExxonMobil Corp for exploration of oil and gas in the deep sea on the country’s east and west coasts.
 
GAIL: Company has received the board approval for additional fundraising of $3.125 billion via external commercial borrowing and up to Rs 25,000 crore via non-convertible debentures.
 
Bank of Baroda: Bank has raised Rs 1,000 crore through issuance of bonds for financing infrastructure and affordable housing projects. The bonds, with a tenure of seven years, will offer a coupon rate of 7.39 per cent.
Sona BLW Precisions Forgings: Blackstone is trying to raise as much as Rs 3,180 crore through the sale of shares at Rs.500/- per share That’s a 7.2 per cent discount to Wednesday’s closing price.
Natco Pharma: Company said it has received tentative approval Trabectedin which is generic drug for Yondelis. According to industry sales data, Yondelis generated annual sales of $49.7 million for 12 months ending June 2022 in the US market.
 
Securities in Ban: Balrampur Chini, Delta Corp, Tata Chemicals.
 
Derivative View: Max Put OI is at 17500 and 17600 and Max Call OI is at 18000 and 18500. Option data suggests an immediate trading range between 17700 to 18100.

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