Actionable : Buy Tata motors, Havells, Godrej consumer.

From Advisory Desk : Vikash Sahay
 
Market outlook: Dow Jones closed 1.4% lower and Dow futures is trading another 0.4% lower. Asian markets too are trading half a percent lower and SGX Nifty is holding above 14800. India VIX has come below the level of 20. Nifty has been facing resistance at 14900-15000 level due to concern of extension of restrictions in the country. Today being a weekly expiry, we expect Nifty range to be 14750-15000 and Bank Nifty range to be 32200-33400

Actionable: Buy Tata motors, Havells, Godrej consumer.
 
Global market:
DOW:  -473
SGX NIFTY:   -10  (prev.close 14850)
NIFTY 50 : 14850
Sensex : 49161

Institution:
FII:                      -336 Cr
DII:                      -677 Cr

NSE:
Advances: 1810 / Declines: 1251

Currency:
Dollar: $ 73.34
Dollar Index: 90.29

Commodity:
Gold: $1831  per ounce
Crude: $68.60  per barrel

Bonds:
10 year US bond rate: 1.62
10 year Indian Bond rate: 6.01

Derivative:
PCR: 0.89
VIX:  19.83

Today’s results announcement: Asian paints, Lupin, UPL, Pidilite industries, Apollo tyres, Tata power, JSPL, Voltas, Happiedt minds, Birla corporation, Avadh sugar  Borosil renewables ,Mahindra lifespace, sagar cements, saregama india, sonata software.

Results update:
Above estimates: Siemens
Inline estimates: Granules india
Below estimates: KEC international

Updates:
 
Dr Reddy’s: Has entered into a royalty free, non exclusive voluntary licensing agreement with Eli Lilly and company for the manufacture and commercialization of the Covid drug, baricitinib, in India. Also, launches generic version of INVANZ for injection which had U.S sales of approx $205 million in the recent twelve months.

Infosys: Announced that it has been selected by Britvic, one of the leading branded soft drinks business in Europe, as a strategic partner to accelerate their digital strategy.

NMDC: Has announced a price hike of 30% in iron ore and 10% in lumps wef from 12th May due to rising global iron prices and recent price hikes announced by merchant miners in Odisha.

MSCI Global standard index review : Effective from 27th May
MSCI INDIA INDEX

Additions: Adani enterprises, Adani Total gas, Adani transmission, SBI Cards, BEL, Cholamandalam investments.

Deletions: Zee entertainment

Securities in BAN: CANBK, NALCO, PNB, SUNTV.
 
Derivative View : VIX closed at 19.83. Max Put OI is at 14800 then 14600. Max Call OI is at 15000 then 15100. Option data suggests a trading range between 14600 to 15100.

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