Actionable: Buy Titan, Tata power, AB Capital.

Insight Online News

From Advisory Desk : Vikash Sahay

7th January 2022

Market Outlook: US markets closed slightly lower on thursday. However, futures are trading in positive by a quarter percent ahead of monthly jobs data. Asian markets have started on mixed note, with SGX Nifty is indicating a flat opening. Crude oil prices rise to seven week high on supply worries in Libya and Kazakhstan. Yesterday, Nifty opened with a gap down amid a negative trend in global markets but some recovery seen in the final hours. In the last two sessions, IT stocks witnessed profit booking due to rising bond yields and USDINR appreciation, ahead of quarterly results in the next week. Overall, short term trend remains positive and continue to recommend with buy on dips.

Actionable: Buy Titan, Tata power, AB Capital.

Investment Idea : Buy Grasim industries ( MOFSL upgraded to Buy from neutral)

Global market:
DOW:  -170
SGX NIFTY:   +10  (prev.close 17819)
NIFTY 50 : 17745
Sensex : 59601

Institution:
FII:                    -1927 Cr
DII:                    +801 Cr

NSE:
Advances: 1957 / Declines: 1429

Currency:
Dollar: $ 74.49
Dollar Index: 96.21

Commodity:
Gold: $1790  per ounce
Crude: $82.40  per barrel

Bonds:
10 year US bond rate: 1.72
10 year Indian Bond rate: 6.53

Derivative:
PCR: 0.92
VIX:  17.97

Updates:

Titan Q3 update: Company witnessed a strong demand recovery across its consumer business in Q3. It clocked 36% growth over the festive quarter last year. Jewellery segment grew by 37% YoY, added 14stores in Q3. Also, seen strong momentum in other divisions too.

Godrej consumer products Q3 update: Company expects to deliver close to high single digit sales growth, mostly driven by price increases. Sales growth was broad-based in the Home care and Personal care categories. Operating margin is expected to improve QoQ but remain lower yoy due to cost inflation.

Macrotech developers Q3 update: Company reported best ever quarterly sales of Rs.2608 crores, up 40% on YoY. Collections were at Rs.2127 crore up by 44% yoy. Achieved full year guidance on net debt which has been reduced to Rs.9,925 crores in Q3.

Securities in Ban: RBL Bank .

Derivative View : VIX closed at 17.97. Immediate max Put OI is at 17500 then 17700. Max Call OI is at 18000 then 17800. Option data suggests a trading range between 17500 to 18000.

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