Actionable: Buy Sobha developers, Titan, Infosys, Tata consumer.

Insight Online News

From Advisory Desk : Vikash Sahay

7th October 2021 : Market Outlook: US markets rebounded sharply from initial losses and closed in green after republican lawmakers soften their view on debt ceiling extension which eases out default fears. Asian markets have started on a positive note, with SGX Nifty up by 140 points. Crude oil prices has fallen more than 2% after rise in weekly US crude inventories. Today being weekly expiry, we expect Nifty’s to be 17580-17850 and Banknifty’s range to be 37000-38100. Most of the pre-quarterly updates for 2Q indicates that companies are witnessing strong demand recovery and positive commentary on business going forward.

Actionable: Buy Sobha developers, Titan, Infosys, Tata consumer.

Global market:
DOW:  +102
SGX NIFTY:   +145  (prev.close 17628)
NIFTY 50 : 17646
Sensex : 59189

Institution:
FII:                     -803 Cr
DII:                    -999 Cr

NSE:
Advances: 1404 / Declines: 1892

Currency:
Dollar: $ 74.98
Dollar Index: 94.21

Commodity:
Gold: $1761  per ounce
Crude: $80.60  per barrel

Bonds:
10 year US bond rate: 1.54
10 year Indian Bond rate: 6.28

Derivative:
PCR: 0.92
VIX:  17.33

Updates:

Titan Q2 update: Company witnessed a strong demand recovery after the second wave across all segments with sales close to/above pre-covid levels in most of the divisions. Jewellery segment grew by 78% YoY, added 13 stores in Q2. Also, seen strong momentum in other divisions too.

Sobha Q2 update: Company reported best ever quarterly sales volumes of 1.34 msf valued at Rs.1030 crore. Total sales volume, sales value and sobha share of sale value were up by 51%, 49% and 61% respectively vs Q2-21.

Securities in BAN: CANBK, IBUHSGFIN, NALCO, PNB.

Derivative View : VIX closed at 17.33. Max Put OI is at 17600 then 17500. Max Call OI is at 17800 then 17900. Option data suggests a trading range between 17500 to 17900.

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