Insight Online News
From Advisory Desk : Vikash Sahay
4th June 2021, Market outlook: US markets closed flat to negative, after having a volatile session as President Biden wants new corporate tax rates, in midst of rising inflation and bond yields. Asian markets have started faltu to little negative, including SGX Nifty which is also trading flat. Today RBI will announce their credit policy and the markets will closely watch the US job data.
Actionable: Buy Mahindra lifespace, Havells, & Siemens.
SGX NIFTY: -15 (prev.close 15695)
NIFTY 50 : 15690
Sensex : 52232
FII: +1079 Cr
DII: -279 Cr
Advances: 2141 / Declines: 1039
Dollar: $ 72.91
Dollar Index: 90.51
Gold: $1864 per ounce
Crude: $70.80 per barrel
10 year US bond rate: 1.63
10 year Indian Bond rate: 6.00
Today’s results announcement: PNB, Bharat forge, MOIL, Bank of india, IOL chemicals, Jubilant pharmova.
Lupin: Company launches authorized generic version of Brovana inhaler in US which had branded sales of $274 million in the last 12 months.
DoT issues guidelines for Rs.12,200 crore PLI scheme for telecom gear and networking equipment. Companies like Dixon technologies, HFCL, sterlite technologies, ITI, Tata communications, Tejas networks may be beneficiaries.
Securities in BAN: BANKBARODA, PNB, SAIL, SUNTV.
Derivative View : VIX closed at 15.74. Max Put OI is at 15600 then 15500. Max Call OI is at 16000 then 15800. Option data suggests a trading range between 15500 to 16000.