Actionable: Buy NAM India, Trent, Kotak Mahindra Bank.

Insight Online News

From Advisory Desk : Vikash Sahay

9th September 2021

Market Outlook: Asian markets including SGX Nifty has started in red with a quarter percent lower on the back of global cues. We expect Nifty to open slightly lower at 17300. Yesterday, Banking stocks were the top gainers. Latest AMFI data shows that inflows through SIP route reached to new high at 9923 crore which is expected to support the markets going forward. Today being weekly expiry, we expect Nifty’s range to be 17250-17450 and Bank Nifty’s to be 36250-37000. On account of Ganesh chaturthi, indian markets will be closed tomorrow.

Actionable: Buy NAM India, Trent, Kotak Mahindra Bank.

Global market:
DOW:  -68
SGX NIFTY:  -50  (prev.close 17382)
NIFTY 50 : 17353
Sensex : 58250

Institution:
FII:                       -803 Cr
DII:                      +1 Cr

NSE:
Advances: 1725 / Declines: 1460

Currency:
Dollar: $ 73.60
Dollar Index: 92.73

Commodity:
Gold: $1790  per ounce
Crude: $72.70  per barrel

Bonds:
10 year US bond rate: 1.33
10 year Indian Bond rate: 6.19

Derivative:
PCR: 0.91

Updates:

SBI life insurance: Canada pension fund planning to sell   2 cr shares in the company for about Rs.2,400 crore via block deals today at a price band of Rs.1159-1220 per share which represents a discount of 0% to 5% to yesterday’s closing price.

Securities in BAN: IBUHSGFIN, IRCTC, NALCO.

Derivative View : VIX closed at 14.41. Max Put OI is at 17300 then 17200. Max Call OI is at 17500 then 17400. Option data suggests a trading range between 17200 to 17500.

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