Actionable: Buy L&T, Hindalco, Indian Hotels, ABFRL.

Insight Online News

From Advisory Desk : Vikash Sahay

2nd February 2022

Market outlook: Markets welcomed the budget in a positive manner as investors viewed it as a high growth-oriented budget that went big on Capital expenditure to boost the economy despite higher base. Budget is supportive for sectors like Infra, Capital goods, Cement, Housing, Defence, EV, Logistics and pipe companies. US markets ended higher for third consecutive session. Asian markets have started on positive note, with SGX Nifty is indicating a gap up opening. Yesterday, FII’s selling reduced sharply to Rs.22 crore while DIIs remained net buyers. Auto sales numbers has been mixed bag however, Tata motors and M&M were reported a strong growth. We reiterate our positive stance on markets with a long term view.

Actionable: Buy L&T, Hindalco, Indian Hotels, ABFRL.

Global market:
DOW:  +273
SGX NIFTY:   +115  (prev.close 17597)
NIFTY 50 : 17576
Sensex : 58862

Institution:
FII:                    – 22 Cr
DII:                   +1598 Cr

NSE:
Advances: 1677 / Declines: 1679

Currency:
Dollar: $ 74.79
Dollar Index: 96.24

Commodity:
Gold: $1800  per ounce
Crude: $89.50  per barrel

Bonds:
10 year US bond rate: 1.79
10 year Indian Bond rate: 6.83

Derivative:
PCR: 0.81
VIX:  19.97

Today’s results announcement: HDFC, Tata Consumer, Apollo tyres, Balrampur chini, Dabur, Jubilant foodworks, M&M financial, Zee entertainment, Aarti surfactants, Adani green, Adani total, Alkyl amines, Avadh sugar, Bajaj Consumer, Balaji amines, Bluestar, Dhanuka, Eclerx, Gillette, JK lakshmi, Sandhar,  Shalby, Somany, Timken, Vguard, VRL logistics.

Results update:
Above estimates: Indian Hotels, VIP industries, Poonawalla fincorp
Inline estimates: Tech mahindra
Below estimates:

Securities in Ban: NIL.

Derivative View : VIX closed at 19.97. Immediate max Put OI is at 17300 then 17500. Max Call OI is at 17800 then 17700. Option data suggests a wider trading range between 17300 to 17800.

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