Actionable: Buy Sun pharma, Tata motors, Hdfc bank, D-mart.

From Advisory Desk : Vikash Sahay

4th October 2021

Market Outlook: Dow futures is trading lower by half percent, after Dow Jones closed more than 1% on Friday after US pharma major Merck announced that its oral drug for covid-19 is effective against variants and reduces hospitalization or deaths. Asian markets have started in mix, with SGX nifty is trading higher by 40 points. China markets are closed till thursday on account of public holidays. US dollar index and bond yields pauses rally from last few sessions. Over next couple of days, markets would be closely monitoring RBI BI- Monthly policy, Service- PMI and Q2 results.

Actionable: Buy Sun pharma, Tata motors, Hdfc bank, D-mart.

Global market:
DOW:  +482
SGX NIFTY:   +40  (prev.close 17530)
NIFTY 50 : 17532
Sensex : 58765

Institution:
FII:                     +131 Cr
DII:                     -613 Cr

NSE:
Advances: 1741 / Declines: 1496

Currency:
Dollar: $ 74.12
Dollar Index: 94.04

Commodity:
Gold: $1763  per ounce
Crude: $78.95  per barrel

Bonds:
10 year US bond rate: 1.46
10 year Indian Bond rate: 6.24

Derivative:
PCR: 0.90
VIX:  17.21

Updates:

Grasim industries: Income tax department issues tax demand notice of Rs.8,334 crore from the company. Tax dues sought capital gains tax in transaction related to demerger of AB capital. Co says would take appropriate action against said order.

Divis labs: US pharma major Merck’s experimental oral drug ( molnupiravir) for Covid-19 works well against variants and reduces deaths and hospitalizations for patients at risk of severe disease by upto 50%, as per company. Divis labs is the authorized API supplier for the drug to Merck’s and VL’s partners in india.

Securities in BAN: NIL.

Derivative View : VIX closed at 17.21. 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.

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