From Advisory Desk : Vikash Sahay
25th June 2021
Market outlook: Dow Jones ended a percent higher, after infrastructure bill of $ 1 trillion was passed in Senate. Asian markets too are trading half a percent higher and SGX Nifty is trading flat. VIX is at the level of 15. Rollover in Nifty was at 84% vs an quarterly average of 78%. Nifty is well poised to cross 16000, with a support at 15400. Nifty lot size will be 50, effective from today. IT stocks will remain in focus, after Acccenture raised it’s guidance on the sector.
Actionable: Buy Mindtree, Coforge, Tata steel.
SGX NIFTY: +5 (prev.close 15837)
NIFTY 50 : 15790
Sensex : 52699
FII: -2891 Cr
DII: +1139 Cr
Advances: 1410 / Declines: 1799
Dollar: $ 74.16
Dollar Index: 91.74
Gold: $1779 per ounce
Crude: $75.60 per barrel
10 year US bond rate: 1.50
10 year Indian Bond rate: 6.01
IT Companies: Accenture reported very strong Q3 results led by Healthcare, products and Financial services business, New bookings up by 39 % yoy, also revised revenue guidance for full year FY21 to 10-11% from 6.5-8.5% earlier.
LIC Housing finance: Company issues 4.54 crore shares to promoter LIC on private placement basis at a price of Rs.514 per share which is a premium of 12% to yesterday’s closing price.
Aarti industries: Company launches QIP on yesterday, at a floor price of Rs.899.77 per share, which is a premium of 3.2% to yesterday’s closing price. Company may offer a discount of not more than 5% on the floor price at its discretion. Board to meet on June 30, 2021 to consider and approve the issue price.
Lupin: Otsuka pharma, Japanese drug maker has sued Lupin for patent infringement over a planned generic version of Otsuka’s kidney treatment drug Jynarque in Delware federal court, which is used to treat patients suffering from a degenerative kidney disease
Securities in BAN: NIL.
Derivative View : VIX closed at 15.09. Max Put OI is at 15700 then 15500. Max Call OI is at 16000 then 15900. Option data suggests a trading range between 15500 to 16000.