Insight Online News
From Advisory Desk : Vikash Sahay
8th September 2021
Market Outlook: Dow Jones ended lower by more than half percent on worries about the slowing pace of economic recovery and raising bond yields spiked to 1.37%. Asian markets have started in mix, with SGX Nifty up by 50 points. Yesterday, Nifty witnessed a slightly volatile session but seen a good recovery from lower levels showing inheritance strength . In today’s cabinet meeting, Relief package for Telecom and PLI scheme approval for textile sectors are likely to be expected.
Actionable: Buy SBI Life, Bharti Airtel, HDFC Ltd, Welspun india.
SGX NIFTY: +50 (prev.close 17379)
NIFTY 50 : 17362
Sensex : 58279
FII: -145 Cr
DII: -137 Cr
Advances: 1283 / Declines: 1898
Dollar: $ 73.42
Dollar Index: 92.50
Gold: $1800 per ounce
Crude: $71.85 per barrel
10 year US bond rate: 1.37
10 year Indian Bond rate: 6.20
Life insurance industry update : Industry reported overall APE growth of 18.9% YoY in August Month. Among listed players, SBI Life posted robust growth of 67% YoY. IPRU life was up 34% YoY, Hdfclife reported growth of 27% and Max life grew by 9.3% YoY.
Securities in BAN: IBUHSGFIN, NALCO.
Derivative View : VIX closed at 14.89. Max Put OI is at 17300 then 17200. Max Call OI is at 17500 then 17400. Option data suggests a trading range between 17200 to 17500.