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Actionable: Buy Reliance Industries and Voltas.

July 03
09:28 2020
Exchange_Sensex

From the Advisory Desk : Vikash Sahay

03rd July 2020

Market Outlook: After a strong employment data in US, DOW Jones closed in green by 100 points. Asian markets too were trading in green by half a percent and SGX Nifty is up by 60 points. VIX has come down significantly to the level of 26 which signifies the reduction of volatility in the market. Indian medical body which is administrating the pandemic due to COVID 19 in the country, announced that the vaccine would be made available in India on 15th August. We expect markets to remain positive on back of ICMR developments.

Actionable: Buy Reliance Industries and Voltas.

Global market:

DOW: +92

SGX NIFTY: +40 (prev.close 10548)

NIFTY 50 : 10551

Sensex : 35843

Institution:

FII: -557 Cr

DII: +909 Cr

NSE:

Advances: 1696 / Declines: 1075

Currency:

Dollar: $ 75.01

Commodity:

Gold: $1787 per ounce

Crude: $42.95 per barrel

Bonds:

10 year US bond rate: 0.67

10 year Indian Bond rate: 5.84

Update:

HDFC Life: Company will replace vedanta in Nifty 50 index from July 31 on account of voluntary delisting.

PI Industries: Board approves launch of QIP on July 2 at a floor price of Rs 1534 per share which is at a discount of 2% to Thursdays closing. The company may consider offering a discount of not more than 5% on the floor price. Indicative deal size is worth Rs.2,000 cr.

Cadilla Health : ZyCoV-D Zydus’ vaccine for COVID19, successfully completes pre-clinical development and receives permission to initiate human clinical trials. Company plans to start the human clinical trials in July 2020.

The Defence Acquisitions Council has approved proposals worth Rs. 38,900 cr

Derivative View – VIX closed at 26.5. Max Put OI is at 10400 then 10300. Max Call OI is at 10600 then 10800. Option data suggests a wider trading range between 10300 to 10800.

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Fayim Md

Fayim Md

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