Actionable: Buy Maruti, HAL, Delta Corp.

Insight Online News

From Advisory Desk : Vikash Sahay

1st April 2022

Market Outlook: US markets declined more than one percent due to fear of recession signals from bond market. However, futures are trading higher by a quarter percent ahead of non farm payroll data. Asian markets including SGX have started on a weak note after PMI data of most of the Asian countries shows that expansion has slowed down. Yesterday, indian markets has witnessed another day of split action, with Nifty slightly closing in red on the last day of FY. However, on a positive side, FIIs were net buyers amounting over Rs.3,000 crore. From last 2 sessions, Nifty is facing stiff resistance near 17500 and we expect it to trade few more sessions in the consolidation range before giving breakout. Core sector output continue to grow and one can expect stock specific to continue. Today, auto stocks will be in focus ahead of monthly sales data.

Actionable: Buy Maruti, HAL, Delta Corp.

Global market:
DOW:   -550
SGX NIFTY:   -105  (prev. close 17536)
NIFTY 50 : 17464
Sensex : 58568

Institution:
FII:                   +  3089   Cr
DII:                   + 1145  Cr

NSE:
Advances: 1451 / Declines: 1951

Currency:
Dollar: $ 75.79
Dollar Index: 98.41

Commodity:
Gold: $1938  per ounce
Crude: $104.8  per barrel

Bonds:
10 year US bond rate: 2.37
10 year Indian Bond rate: 6.84

Derivative:
PCR: 1.04
VIX:  20.56

Updates:
 
The government has reset the price of domestic natural gas at $6.10 vs $2.9 per mmBtu for the period of April- Sep. The steep increase in domestic gas prices was driven by the significant run up in the prices of gas at global gas hubs. Positive for gas exploration companies like ONGC, OIL ltd, Reliance etc and negative for industries that use natural gas as input, primarily fertilizer, power, ceramic, CGD etc.

Lupin – USFDA issues 13 observations to Lupin’s Novel Laboratories. The facility accounts for less than 5 percent Lupin’s global turnover.

Securities in Ban: NIL.

Derivative View : VIX closed at 20.53. Max Put OI is at 17400 then 17200. Immediate max Call OI is at 17500 then 17600. Option data suggests a trading range between 17200 to 17600.

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