Actionable: Buy SBI, Bharti Airtel.

Insight Online News

From Advisory Desk : Vikash Sahay

22nd November 2021

Market Outlook: Globally, the markets have started the week on a mixed note, with SGX Nifty is trading lower by 70 points compared to thursday’s closing. US dollar index continued to surge and is trading above 96 level. The positive for Indian markets would be fall in crude oil prices which is trading near two month low on reports of Biden asks world leaders to release oil reserves and introduce of full or partial lockdowns in Europe amid spike in Covid-19 cases. On Thursday, broader markets under performed than benchmark indices and most of the sectors turned into red. Markets may remain volatile on account of global cues and one can expect stock specific action to continue.
 

Actionable: Buy SBI, Bharti Airtel.

Global market:
DOW:  -268
SGX NIFTY:   +70  (prev.close 17704)
NIFTY 50 : 17764
Sensex : 59636

Institution:
FII:                    -3931 Cr
DII:                   +1886 Cr

NSE:
Advances: 1001 / Declines: 2339

Currency:
Dollar: $ 74.24
Dollar Index: 96.16

Commodity:
Gold: $1846  per ounce
Crude: $78.45  per barrel

Bonds:
10 year US bond rate: 1.57
10 year Indian Bond rate: 6.35

Derivative:
PCR: 0.83
VIX:  14.85

Updates:

Reliance industries: Reliance  and Saudi Aramco have scrapped their agreement under which the Saudi oil giant was supposed to pick 20% stake in O2C business. Also, decided to drop plans to spin off the O2C business and withdrawn the proposal filed with NCLT.

Telecom companies: Bharti Airtel hiked prepaid Tariff’s in the range of 20-25% effective from November 26 which will be positive for overall industry too.

EV players: With the infrastructure law and Build back better act, the US government is very keen to focus on EV space and started manufacturing EV batteries and components. Also, will announce purchase incentives for the EV vehicles made in America. With this companies like Sona BLW whose exposure to EV and especially exports to US is high, will be benefitted more going forward.

Amber enterprises: Company and its subsidiary IL JIN Electronics india pvt ltd, gets PLI node for white goods manufacturing. The total investment required for the proposed applications under PLI is Rs. 400 crores.

Securities in Ban: BHEL, ESCORTS, IDEA, NALCO, SAIL, SUNTV.

Derivative View : VIX closed at 14.85. Max Put OI is at 17500 then 17700. Max Call OI is at 18000 then 17900. Option data suggests a trading range between 17500 to 18000.

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