Actionable: Buy Maruti, Asian Paints, ICICI bank.

Insight Online News

From Advisory Desk : Vikash Sahay

29th September 2022
 
Market Outlook: US markets rebounded strongly on wednesday as treasury yields tumbled from recent highs after Bank of England reverses its stance and announced temporary bond buying program to stabilise its financial markets. Crude oil prices rose by upto 5% as dollar index eases and on low US inventory. Asian markets have started on a positive note, with SGX Nifty is indicating a gap-up opening for indian markets. Today being monthly expiry, we expect higher volatility with Nifty’s range to be 16500/16666 – 17071/17166 and Banknifty’s range to be 37250/37500 – 38250/38500. Festive season stocks are expected to do well on back of strong demand.

Actionable: Buy Maruti, Asian Paints, ICICI bank.

Tactical Idea: Buy Ambuja cements on dips of around 485-495 levels.

Global market:

DOW:   +548
SGX NIFTY:   +170   (prev. close 16889)

NIFTY 50 : 16858
Sensex : 56598
 
Institution:
FII:                 –   2772  Cr
DII:                +   2544  Cr

NSE:
Advances:  1277 / Declines:  2161

Currency:
Dollar: $ 81.94
Dollar Index: 113.25
 
Commodity:
Gold: $1664  per ounce
Crude: $88.20  per barrel
 
Bonds:
10 year US bond rate: 3.75
10 year Indian Bond rate: 7.33

Derivative:
PCR: 0.90
VIX:  22.09

Updates:

Anupam Rasayan: Company launches QIP to raise Rs.500 crore at an indicative offer price of Rs.725 which is a 4.4% discount to last closing price.

Nykaa – Company’s board meeting is on 3rd Oct to consider issuance of Bonus Shares to the equity shareholders.
 
Ramco Cement – The company has commissioned its 5th cement plant at Kolumigundla, Andhra Pradesh. The plant has a clinkerisation capacity of 2.25 million tonnes per annum. The project cost of the plant is Rs.3,000 crore.
 
Torrent Pharma – USFDA issued form 483 with 3 observations for Gujarat plant. None of these observations were related to data integrity.

Securities in Ban: Vodafone Idea.
 
Derivative View: Max Put OI is at 16800 and 16500 and max Call OI is at 17000 and 17500. Option data suggests an immediate trading range in between 16800 to 17200.

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