From Advisory Desk : Vikash Sahay
Market Outlook: Dow futures is trading half a percent lower, after Dow Jones closed 1.5 % on thursday due to concerns over inflation, interest rate hike and global supply chain issues. Asian markets too have started in red by upto 2 %, with SGX Nifty is down by 150 points. Gold advanced by 2% in last session, as dollar index pauses rally. Indian markets witnessing a gradual slide from past few days on back of global cues, lack of fresh triggers and profit booking in high valued sectors. We expect the volatility to continue as the VIX still trading above 18 levels, however stock specific action will be in momentum. Today, monthly auto sales number will be released.
Actionable: Buy Sun pharma, Amber enterprises, DLF.
IPO listing: Paras defence shares to start trading in exchanges today after subscribed by 304 times.
SGX NIFTY: -150 (prev.close 17602)
NIFTY 50 : 17618
Sensex : 59126
FII: -2226 Cr
DII: +97 Cr
Advances: 1767 / Declines: 1502
Dollar: $ 74.22
Dollar Index: 94.36
Gold: $1753 per ounce
Crude: $78.35 per barrel
10 year US bond rate: 1.48
10 year Indian Bond rate: 6.22
GR infraprojects: Has received a letter of award from NHAI worth of Rs.951 crore for constructing a part of 6 lane highway in Punjab under HAM.
The government has reset the price of domestic natural gas at $2.9 vs $1.79 per mmBtu ( 62% hike) for the period of October- March which is largely in-line with expectations. Positive for gas exploration companies like ONGC, OIL ltd, Reliance etc and negative for industries that use natural gas as input, primarily fertilizer, power, ceramic, CGD etc.
Maruti: Owing to a supply constraint of electronic components due to the semiconductor shortage situation, the company is expecting an adverse impact on vehicle production in the month of October in both the plants. The company estimates that the vehicle production volume could be around 60% vs 40% in Sep.
Securities in BAN: NIL.
Derivative View : VIX closed at 18.40. Max Put OI is at 17500 then 17300. Max Call OI is at 17700 then 17800. Option data suggests a trading range between 17300 to 17800.