Actionable: Buy Zee Entertainment, Tech Mahindra, DLF.

Insight Online News

From Advisory Desk : Vikash Sahay

3rd December 2021

Market Outlook: US markets closed in green. However, futures are trading lower by a quarter percent as more states report Omicron cases. Asian markets have started in mix, with SGX Nifty is indicating a weak opening. US 10-year bond yield continue to fall from peak which is trading near 2 months low. Crude oil prices recovered from day’s low after OPEC+ countries sticking to their existing output policy despite Omicron concerns. Yesterday, Indian markets extended gains on account of strong macro-economic data. Now, markets has to sustain the gains from past few days for further up move.

Actionable: Buy Zee Entertainment, Tech Mahindra, DLF.

Global market:
DOW:  +617
SGX NIFTY:   -60  (prev.close 17446)
NIFTY 50 : 17401
Sensex : 58461

Institution:
FII:                    -910 Cr
DII:                   +1373 Cr

NSE:
Advances: 2145 / Declines: 1122

Currency:
Dollar: $ 75.00
Dollar Index: 96.15

Commodity:
Gold: $1772  per ounce
Crude: $69.95  per barrel

Bonds:
10 year US bond rate: 1.43
10 year Indian Bond rate: 6.35

Derivative:
PCR: 0.97
VIX:  18.08

Updates:

Biocon: Company gets USFDA nod  for its ANDA Mycophenolic acid which is used in Kidney transplant. This approval further adds to Biocon’s portfolio of vertically integrated complex drug products.

M&M financial services: Company had given monthly business update for November month. The total disbursements at Rs.2500 crore delivered 17% YoY growth and collection efficiency improved to 94%. This resulted in further reduction in the NPA contracts and expecting the downward trajectory to continue in coming months.

Securities in Ban:  IBULHSGFIN, IDEA.

Derivative View : VIX closed at 18.08. Max Put OI is at 17300 then 17200. Max Call OI is at 17700 then 17500. Option data suggests a trading range between 17200 to 17700.

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