Insight Online News
From Advisory Desk : Vikash Sahay
26th August 2022
Market Outlook: The upbeat market sentiment in the US overnight could have a flow-on effect on the indian markets. SGX Nifty is indicating a gap-up opening of more than 150 points inline with Asian markets. US markets closed higher led by tech shares after China announced a boost to infrastructure spending further with stimulus of $146 billion and on reports of US-China deal on audit dispute. However, futures were trading flat ahead of Powell’s speech in Jackson hole conference and PCE data. Overall, we remain positive and continue the momentum till Nifty holds 17350 level.
Actionable: Buy Titan, Bank of Baroda, Zee Entertainment, ABFRL.
SGX NIFTY: +90 (prev. close 17588)
NIFTY 50 : 17522
Sensex : 58774
FII: + 369 Cr
DII: – 334 Cr
Advances: 1861 / Declines: 1557
Dollar: $ 79.88
Dollar Index: 108.54
Gold: $1767 per ounce
Crude: $100.25 per barrel
10 year US bond rate: 3.04
10 year Indian Bond rate: 7.29
Dr Reddy’s Laboratories: The company has received Establishment Inspection Report (EIR) for its Srikakulam facility.
Gail India: The Board of Directors of the company has announced the record date as 7th September for determining the eligibility of the shareholders for bonus share issue in 1:2 ratio.
Titan – Company is looking to have around 20-30 stores of its jewellery brand Tanishq in the Gulf and North American markets in the next 2-3 years.
GlandPharma – Company receives one observation on Form 483 for ANDA filed for product manufactured at Dundigal unit, Hyderabad. There is no data integrity observation.
Eicher Motors – Resignation of Kaleeswaran Arunachalam CFO and Key Managerial Personnel wef 2 Sept 2022.
Max Financial services – Company received Commencement of Business (COB) Certificate for its WOS, Max Life Pension Fund Management Ltd. This subsidiary will manage pension assets with investment choices under National Pension scheme.
Securities in Ban: Nil.
Derivative View: Immediate max Put OI is at 17000 and 17500 and max Call OI is at 17700 and 17800. Option data suggests an immediate trading range between 17400 to 17800.