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Market Outlook: Today as we start the new financial year

Market Outlook: Today as we start the new financial year
April 01
04:11 2020
Vikash Sahay
Vikash Sahay

From Advisory desk : Vikash Sahay

01st April 2020

Market Outlook: Today as we start the new financial year, All Asian indices are down by a percent. SGX Nifty is trading lower by 80 points. FIIs had sold stock worth Rs 65000 cr in the month of March. Though VIX had cooled off from the level of 83 to 64, still it’s at a very higher level and thus the volatility in the market will continue.

Investment: Selected defensive sectors such as FMCG & Pharmaceuticals can be added to the portfolio. Stocks like HUL, Nestle India, Divis Lab & Dabur can be looked up.

Global market:
DOW: -410
SGX NIFTY: -68 (prev.close 8571)
NIFTY 50 : 8597
Sensex : 29468

Institution:
FII: – 3045 Cr
DII: +3576 Cr

NSE:
Advances: 1176 / Declines: 400

Currency:
Dollar: $ 75.55

Commodity:
Gold: $1594 per ounce
Crude: $25.80 per barrel (down 2.09%)

Bonds:
10 year US bond rate: 0.67
10 year Indian Bond rate: 6.12

Update:

ONGC, Oil India, Gujarat Gas, IGL, and MGL: Government cuts gas prices by 26 percent to $2.39/mmBtu beginning April 1 from $3.23/mmBtu – Negative

Derivative View – VIX closed at 64.40. Max Put OI is at 8500 then 8000 while Max Call OI is at 9000 then 9400 strike. Options data indicates a wider range between 8000 to 9000 zone.

Vikash Ranjan Sahay, Founder & CEO , Value Management Solution P Ltd, (Exclusive Business Partner of MotiLal Oswal)

Mr. Vikash Sahay can be contacted at +91 9471133334

Derivative View: Option band data suggest the band to be between 8000-9000
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