From Advisory Desk : Vikash Sahay
13th October 2021
Market Outlook: SGX Nifty is indicating a flat to positive opening on the back of strong economic data. The positive for indian market would be five months low CPI inflation data which was at 4.35% in September and IIP up at 11.9% in August, better than street estimates. USDINR is sustaining above 75 on account of strong dollar and FIIs outflows amounting over Rs.5,000 crore in the last six sessions. Yesterday, Nifty witnessed a slighlty volatile session and saw a good pull back in the second half of the day closing near 18000 level. Going forward, markets will be driven by quarterly results and festive season demand. Today, Tata motors will be in focus, after it received first big investment of $ 1 billion in the EV space and we expect the stock to do well for long term.
Actionable: Buy SBI, Canara Bank, BEL, Jubilant food, Nalco ( Only in cash).
SGX NIFTY: +45 (prev.close 18004)
NIFTY 50 : 17991
Sensex : 60284
FII: -278 Cr
DII: -741 Cr
Advances: 1733 / Declines: 1611
Dollar: $ 75.51
Dollar Index: 94.37
Gold: $1762 per ounce
Crude: $83.45 per barrel
10 year US bond rate: 1.57
10 year Indian Bond rate: 6.33
Today’s results announcement: Infosys, Wipro, Mindtree, AB money
Tata motors: Company to raise $1 billion in its passenger electric vehicle business in trenches at a valuation of upto $ 9.1 billion from PE firm TPG Rise climate and along with its co-investor Abu Dhabi’s ADQ. Over the next 5 years, company will create a portfolio of 10 EVs and in association with Tata power, catalyse the creation of a widespread charging infrastructure to facilitate rapid EV adoption in india.
Securities in BAN: BANKBARODA, IBUHSGFIN, IRCTC, NALCO, PNB, SAIL, SUNTV.
Derivative View : VIX closed at 15.84. Max Put OI is at 17800 then 17700. Max Call OI is at 18000 then 18200. Option data suggests a trading range between 17700 to 18200.