Actionable: Buy L&T, Tata Steel and HDFC Ltd

From Advisory Desk : Vikash Sahay

16th August 2021

Market Outlook: The resurgence of covid cases and below than expected economic data from China kept the Asian markets to trade lower by one percent, including SGX Nifty which is trading lower by 40 points. Nifty is expected to open around 16500. Gold and silver advanced by 2%. IT stocks continue to remain in focus. Huge announcement by PM of 100 lac crores would provide further impetus to growth. This should lead traction in stocks of infrastructure, cement and capital goods sector. Today, Four IPO would be getting listed on the bourses, with Devyani & Krsnaa diagnostic are expected to list with high premium.

Actionable: Buy L&T, Tata Steel and HDFC Ltd

IPO Listing: Devyani international, Krsnaa diagnostics, Windlas Biotech, Exxaro tiles shares to start trading in exchanges today.

Global market:
DOW:  +15
SGX NIFTY:   -35  (prev.close 16528)
NIFTY 50 : 16529
Sensex : 55437

Institution:
FII:                      +820 Cr
DII:                     +150 Cr

NSE:
Advances: 1536 / Declines: 1687

Currency:
Dollar: $ 74.25
Dollar Index: 92.51

Commodity:
Gold: $1780  per ounce
Crude: $69.75  per barrel

Bonds:
10 year US bond rate: 1.26
10 year Indian Bond rate: 6.24

Derivative:
PCR: 0.87
VIX:  12.37

Results update:
Above estimates: Grasim industries, JK cement, Burger king, Amaraja batteries, Apollo Hospitals
Inline estimates: ONGC, Petronet LNG, Glenmark pharma, IGL
Below estimates: SUNTV, Vodafone Idea

Securities in BAN: CADILAHC, CANBK, IBULHSGFIN, NALCO, PNB, RBL BANK, SAIL, SUNTV.

Derivative View : VIX closed at 12.99. Max Put OI is at 16400 then 16300. Max Call OI is at 16800 then 16600. Option data suggests a trading range between 16300 to 16800.

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