Actionable: Buy Tata Power, IRCTC, Muthoot finance & Hindalco.

Insight Online News

From Advisory Desk : Vikash Sahay

6th July 2021 ; Market Outlook: SGX Nifty is indicating a mild start for Nifty above 15800. For quite sometime, Nifty is facing resistance at 15900. Asian markets are trading flat to positive. OPEC meet ended without a conclusion, hence we saw an increase in crude prices to $ 77. Opening of European countries, US and markets in middle East is positive for Textile and shrimp exporter. Positive for Welspun India, RSWM, Apex frozen, Avanti feeds & KPR Mills.

Actionable: Buy Tata Power, IRCTC, Muthoot finance & Hindalco.
 
Global market:
DOW:  34786 (unchanged)
SGX NIFTY:   -30  (prev.close 15863)
NIFTY 50 : 15834
Sensex : 52880

Institution:
FII:                      -338 Cr
DII:                     +646 Cr

NSE:
Advances: 2195 / Declines: 1146

Currency:
Dollar: $ 74.30
Dollar Index: 92.24

Commodity:
Gold: $1795  per ounce
Crude: $77.50  per barrel

Bonds:
10 year US bond rate: 1.44
10 year Indian Bond rate: 6.09

Derivative:
PCR: 0.91
VIX:  12.06
 
Update:
 
NMDC OFS: Govt to sell upto 4% stake in the company with an option to additionally sell 3.49% stake through OFS at a floor price of Rs.165 per share, which is a 6% discount to yesterday’s closing price. Offer opens today for non retail investors and tomorrow for retail investors.

Securities in BAN: IBULHSGFIN, NALCO, PNB.
 
Derivative View : VIX closed at 12.06. Max Put OI is at 15800 then 15700. Max Call OI is at 16000 then 15800. Option data suggests a trading range between 15700 to 16000.

Textiles
India grows its market share in US imports.Below is MoM growth of India vs Total Category

All Textile: India 10% vs Category at 1.2%
Apparel: India 11% vs 5%
Home Textiles : India 9% vs 6%

Source: OTEXA

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