From Advisory Desk : Vikash Sahay
14th June 2021
Market outlook: Dow is trading flat, ahead of FED meet and bond yields which is at three month low of 1.45%. However, Asian markets have started half a percent in green, but SGX Nifty is down by 70 points. VIX is at 15 month low at the level of 14. Pharma and IT indices closed at life high. Nifty is expected to remain in broader range of 15200-16000.
Actionable: Buy SAIL, Isec, Glenmark, Tata Elxsi.
Sona BLW Precision Forgings Ltd( Subscribe to long term): IPO opens today for subscription and closes on June 16, 2021. Issued at a price band of Rs.285-291 per share.
SGX NIFTY: -55 (prev.close 15823)
NIFTY 50 : 15799
Sensex : 52474
FII: +19 Cr
DII: +666 Cr
Advances: 1731 / Declines: 1465
Dollar: $ 73.07
Dollar Index: 90.57
Gold: $1870 per ounce
Crude: $72.75 per barrel
10 year US bond rate: 1.47
10 year Indian Bond rate: 6.01
Lupin: Has received a warning letter from USFDA for its manufacturing plant in New Jersey, Somarset plant accounts less than 5% to their sales but it has prolonged the process for future approvals from this site.
BEML: Incorporates wholly owned subsidiary for demerger of surplus land & asset as part of strategic disinvestment process undertaken by GOI.
Adani group stocks: NSDL has frozen the three accounts of three foreign funds Albula investment fund, Cresta fund and APMS investment fund which together own over 43,500 worth of shares in for Adani group companies due to disclosure of insufficient information regarding beneficial ownership. Also, cartel of select FII’s holding most of the free floating in Adani group companies which triggered the rally in the stocks, as per media reports.
Securities in BAN: BHEL, CANBK, IBUHSGFIN, NALCO, SUNTV.
Derivative View : VIX closed at 14.10. Max Put OI is at 15700 then 15500. Max Call OI is at 16000 then 15800. Option data suggests a trading range between 15500 to 16000.