Actionable: Buy LTTS, Deepak nitrate.

Insight Online News

From Advisory Desk : Vikash Sahay

22nd September 2021

Market Outlook: US markets remained under pressure throughout the day and trimmed off all its early gains, ahead of FOMC meeting outcome. Asian markets were trading flat to negative, with SGX Nifty trading lower by 35 points . In today’s meeting, PBOC may cut reserve ratio to ease out slowing economy and liquidity concerns in banking system. Yesterday, both FIIs and DIIs were net buyers amounting over 3200 crore in cash leading to strong recovery from intraday lows and closed the day in green above 17550 levels.

Actionable: Buy LTTS, Deepak nitrate.

Stock in focus : Zee entertainment announces merger deal with sony networks.

Paras Defence & Space Tech ( Subscribe): IPO opened yesterday for subscription and closes on 23rd September, 2021. IPO issued at a price band of Rs.165-175 per share.

Global market:
DOW:  -50
SGX NIFTY:  -30  (prev.close 17561)
NIFTY 50 : 17562
Sensex : 59005

Institution:
FII:                     +1042 Cr
DII:                     +2168 Cr

NSE:
Advances: 1528 / Declines: 1700

Currency:
Dollar: $ 73.61
Dollar Index: 93.19

Commodity:
Gold: $1776  per ounce
Crude: $75.05  per barrel

Bonds:
10 year US bond rate: 1.33
10 year Indian Bond rate: 6.12

Derivative:
PCR: 0.91
VIX:  16.52

Updates:

Torrent power: Acquires 100% stake in Surya Vidyut from CESC and others at an EV of Rs. 790 crore. Surya vidyut operates 156 MW of wind plants which has long term PPA with respective state discoms for 25 years.

Zee entertainment: Board approves execution of non binding agreement with sony pictures for potential merger. According to terms, Promoters of sony have the right to appoint majority director on merged co and Puneet goneka will continue be as MD&CEO of merged co for 5 years period.
 

Securities in BAN: IBULHSGFIN, IDEA, IRCTC, PNB, SUN TV.

Derivative View : VIX closed at 16.52. Max Put OI is at 17400 then 17300. Max Call OI is at 17700 then 17600. Option data suggests a trading range between 17300 to 17700.

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