Actionable: Buy SBI, HUL, Infosys, Reliance Industries.

Insight Online News

From Advisory Desk : Vikash Sahay

21st July 2022

Market Outlook: US benchmark indices closed on flat to positive on account of better than expected corporate earnings. However, futures were trading slightly lower on inflation worries after England and Canada reported fresh multi decade high inflation. Now, attention shifts to the European central bank meeting tonight. ECB is poised to raise rates for the first time since 2011. Asian markets have started on a mixed note, with SGX Nifty is indicating a flat opening for indian markets. On domestic front, FIIs have made a U-turn and have been consistent buyers from last three days and the India VIX has fallen to below 17 levels which is giving comfort to bulls. Today being weekly expiry, we expect Nifty’s range to be 16350-16666 and Banknifty’s range to be 35500-36666 level.

Actionable: Buy SBI, HUL, Infosys, Reliance Industries.
Global market:
DOW: +47
SGX NIFTY: -10 (prev. close 16497)
NIFTY 50 : 16520
Sensex : 55397
FII: + 1781 Cr
DII: – 230 Cr

Advances: 1880 / Declines: 1459
Dollar: $ 79.99
Dollar Index: 107.01
Gold: $1690 per ounce
Crude: $106.45 per barrel
Bonds:10 year US bond rate: 3.01
10 year Indian Bond rate: 7.45
PCR: 1.00
VIX: 16.82
Today’s Result – CSB Bank, RBL Bank, IDBI Bank, Can Fin Homes, CRISIL, Cyient, Elecon Engineering, Embassy Office Parks REIT, Gujarat State Fertilizers & Chemicals, Happiest Minds Technologies, Hindustan Zinc, Himadri Speciality Chemical, IndiaMART InterMESH, ICICI Securities, JSW Energy, Kajaria Ceramics, Meghmani Finechem, Mphasis, Orient Bell, Persistent Systems, Hitachi Energy India, PVR, Quick Heal Technologies, Ramkrishna Forgings, and SRF.

Results update:
Above estimates: CEAT, Century Ply
Inline estimates: Indusind Bank, AU Small Finance Bank, Tata communications.

Below estimates: Wipro, Gland pharma, Mastek, Havell’s.

SBI – Bank board has approved raising up to ₹11,000 crore in bonds during the current financial year.

AU Small Finance Bank – Bank approved raising of funds aggregating up to ₹3,000 crore by issue of equity shares.

Sugar sector – The government is considering allowing additional sales of 1 million to 1.2 million tons of sugar for the year ending Sept. 30, that’s on top of the current quota of 10 million tons.

Securities in Ban: Delta Corp.

Derivative View: Immediate Max Put OI is at 16000 and 16500 and Max Call OI is at 16600 and 16700. Option data suggests a wider trading range in between 16200 to 16700.

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