Actionable: Buy Voltas, ICICI Bank

From Advisory Desk : Vikash Sahay

3rd November 2020 : Market Outlook: Globally the markets rose ahead of the US elections leading US to be up by 1.5%, Europe up 2% and Asian markets up by 1%. SGX Nifty is flat. Yesterday RIL created vaccum in the market but Banks and financials rose up to the occasion to rise above 4%. Till the time NIFTY holds 11600 on closing basis, markets will be buy on every dip.

Actionable: Buy Voltas, ICICI Bank

Global market:
DOW: +424
SGX NIFTY: +85 (prev.close 11669)
NIFTY 50 : 11669
Sensex : 39757

Institution:
FII: +741 Cr
DII: -534 Cr

NSE:
Advances: 1078 / Declines: 1586

Currency:
Dollar: $ 74.42

Commodity:
Gold: $1897 per ounce
Crude: $38.80 per barrel

Bonds:
10 year US bond rate: 0.85
10 year Indian Bond rate: 5.89

Today’s results announcement: Sun pharma, Adani ports, Dabur, Godrej properties, Muthoot finance, PVR, Adani gas, Deepak fertilisers, Alembic ltd, Eris lifesciences, Everest industries, Prism Johnson, Ramco industries, TCI, Varun beverages.

Results update:
Above estimates: Escorts, HDFC ltd, Bandhan bank, Cadila healthcare, Ramco cements, Coromandal international, Whirlpool, CUB
Inline estimates: NTPC, Zee entertainment
Below estimates: KEI industries, NH

Updates

NTPC: Board approved buyback of 19.78cr shares at Rs.115 per share aggregating to Rs.2227 cr. Company will buyback 2% of equity through tender route and set 13th November as record date.

L&T: has emerged as the lowest bidder for the c6 package of the Mumbai- Ahmedabad High speed rail project st Rs.7,289 crore. This package connects Vadodara with Ahmedabad. Earlier the company had emerged as the lowest bidder for constructing the largest segment of the project.

Securities in Ban: NIL

Derivative View : VIX closed at 25.21. Max Put OI is at 11500 then 11400. Max Call OI is at 12000 then 11900. Option data suggests a trading range between 11400 to 12000.

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