From Advisory Desk : Vikash Sahay
8th June 2021
Market outlook: US markets closed in mix. Asian markets are trading in green by half a percent, including SGX Nifty which is up by 30 points. Nifty, Sensex and Midcap index all closed at life high. VIX is hovering around the level of 16. Nifty is well poised to touch 16000 mark as India prepares itself for largest vaccine inoculation drive in the world, starting June 21st.
Actionable: Buy Tata Power, HCL tech.
SGX NIFTY: -20 (prev.close 15779)
NIFTY 50 : 15751
Sensex : 52328
FII: -186 Cr
DII: +984 Cr
Advances: 2298 / Declines: 1024
Dollar: $ 72.80
Dollar Index: 90.03
Gold: $1900 per ounce
Crude: $70.90 per barrel
10 year US bond rate: 1.57
10 year Indian Bond rate: 6.02
Infosys: Company announced a collaboration with Archrock, the leading provider of natural gas compression services in the US, to integrate digital technologies and mobile tools for its field service technicians.
Shriram Transport Finance: Boards has approved raising funds through capital infusion from its promoters and QIP. Promoters will invest Rs. 500 crore through preferential allotment of equity shares and warrants at a price of Rs.1440/-. Also, planning to raise Rs.2,500 crore through the QIP offering and fixed a floor price of Rs. 1433.32 per share.
Life insurance industry update : Industry reported overall APE degrowth of 8.9% YoY in May Month. Among listed players, Max Fin & HDFC Life reported strong growth of 28% YoY and 17% YoY, respectively. Max life grew at 12.5% YoY. On the other hand, SBI Life posted a degrowth of 5.6% in May.
Securities in BAN: IBULHSGFIN, PNB, SAIL, SUNTV.
Derivative View : VIX closed at 15.56. Max Put OI is at 15700 then 15500. Max Call OI is at 16000 then 15800. Option data suggests a trading range between 15500 to 16000.