Actionable: Buy Wipro, Pidilite, Maruti.

Insight Online News

From Advisory Desk : Vikash Sahay

21st December 2021

Market Outlook: US stock futures are trading higher by half percent, following a broad sell-off amid fears about the rising Omicron variant cases and opposition to Biden’s $1.7 trillion social spending bill by democratic senator. Asian markets have started in positive, with SGX Nifty is trading higher by 150 points. Yesterday, sell-off in the market intensified on account of global cues. Although some recovery was seen in the second half of the day from day lows. We can see some bounce back today however continue with sell on rise strategy.

Actionable: Buy Wipro, Pidilite, Maruti.

IPO listing: CE Info Systems ( MapMyIndia) shares to start trading in exchanges today after oversubscribed by 154 times.

Global market:
DOW:  -433
SGX NIFTY:   +150  (prev.close 16658)
NIFTY 50 : 16614
Sensex : 55822

Institution:
FII:                    -3565 Cr
DII:                   +2764 Cr

NSE:
Advances: 746 / Declines: 2699

Currency:
Dollar: $ 75.90
Dollar Index: 96.47

Commodity:
Gold: $1791  per ounce
Crude: $72.20  per barrel

Bonds:
10 year US bond rate: 1.43
10 year Indian Bond rate: 6.44

Derivative:
PCR: 0.85
VIX:  18.96

Updates:

Adani enterprises: Company receives an order worth of Rs.17,085 cr to build 464 km of Ganga express highway project in Uttar Pradesh under ppp framework.

Telecom Sector: As per TRAI’s data, Industry subscriber base consolidated, with RJio leads growth. Gross subscribers base for the industry slightly raised by 0.27 million. Reliance Jio added active subscribers 1.7 million in October vs 4.7 million subscribers in September. Bharti airtel lost 0.49 m vs 0.27 m subscribers added in August. While Vodafone Idea continued to decline.

Wipro: Company to acquire entire stake in Texas based Edgile for about $ 230 million, to strengthen its leadership in strategic cyber security services.

Securities in Ban: ESCORTS, IBULHSGFIN.

Derivative View : VIX closed at 18.96. Immediate max Put OI is at 16500 then 16400. Max Call OI is at 16800 then 16700. Option data suggests a trading range between 16400 to 16800.

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