From Advisory Desk : Vikash Sahay
6th October 2021
Market Outlook: Indian markets are continues to demonstrate resilient performance despite of global weakness from last few days. Moody’s has changed the mood on Indian economy by upgrading rating to stable from negative after a long time. US markets closed higher by one percent after better than expected services-PMI, however Dow futures is trading lower by half percent. Asian markets have started in flat to negative, with SGX Nifty is trading flat. Overall, we remain positive on markets and stock specific action will be continued however may see some profit booking led selling pressure at higher levels.
Actionable: Buy SBI life,Titan, Clean Science & technology.
Tactical play: Buy IT stocks like Infosys, Hcl tech, Mindtree ahead of Q2 results.
SGX NIFTY: -10 (prev.close 17819)
NIFTY 50 : 17822
Sensex : 59744
FII: -1915 Cr
DII: +1868 Cr
Advances: 2023 / Declines: 1271
Dollar: $ 74.44
Dollar Index: 94.04
Gold: $1756 per ounce
Crude: $82.70 per barrel
10 year US bond rate: 1.54
10 year Indian Bond rate: 6.26
Bajaj Finance Q2 update: Bajaj finance had a healthy Q2 , company’s AUM grew by 5% QoQ and 22% yoy to 1.67lacs crore in Q2. Acquired 2.4m new customers during the quarter and new loans booked at 6.3m and were backed pre-covid levels. The company has witnessed healthy traction across product segments except auto finance. Deposit book grew by 2.7% QoQ and 27% YoY CRAR remained healthy at 27.7%.
Marico Q2 update: Company says improving demand trends were witnessed in Q2 as mobility levels increased on the back of reducing Covid-19 infections and accelerated pace of vaccinations. Revenue growth in the quarter was in the low 20s and volume growth close to double digits on a two year basis. Food bias growing smartly and remains on course to clock 500 crore in revenue in FY22.
Securities in BAN: NALCO.
Derivative View : VIX closed at 16.39. Max Put OI is at 17600 then 17700. Max Call OI is at 18000 then 17900. Option data suggests a trading range between 17600 to 18000.