No actionable for the today

Insight Online News

From Advisory Desk : Vikash Sahay

23rd August 2022
Market Outlook: Another big drop on Wall street weighed down by negative investor sentiment, as dollar surged on fears of a more hawkish rate hikes. However, futures were trading flat. Crude oil prices recovered from previous day losses after Saudi warns OPEC+ could cut oil production if prices continue falling. Asian markets have started on a weak note, with SGX Nifty is indicating a negative opening. Yesterday, indian markets closed lower for the second consecutive day on weak global cues. India VIX continue to raise for the second day trading near 19 levels. Nifty has broken the crucial support zone and in short term lot of global headwinds ahead.

No actionable for the today

Global market:

DOW: -643

SGX NIFTY: -60 (prev. close 17490)

NIFTY 50 : 17490

Sensex : 58773

Institution:

FII: – 454 Cr

DII: – 85 Cr

NSE:

Advances: 1172 / Declines: 2387

Currency:

Dollar: $ 79.87

Dollar Index: 108.91

Commodity:

Gold: $1751 per ounce

Crude: $96.95 per barrel

Bonds:

10 year US bond rate: 3.02

10 year Indian Bond rate: 7.27

Derivative:

PCR: 0.86

VIX: 19.03

Updates:

Devyani International – Dunearn Investment (Mauritius) to sell nearly 3% stake at ₹182-196.25/share in company with discount of upto 7%.

Infosys – Company has scaled back the average variable payout of employees to about 70 per cent for the June quarter amid margin squeeze and high employee costs.

Lemon Tree – The company has signed license agreement for a 65 room hotel at Hubli, Karnataka. The hotel is expected to be operational by May, 2023.

TCS – South Africa’s Absa Corporate and Investment Bank (CIB) has appointed TCS to digitally transform its investment banking services and power Absa CIB’s front- and mid-end operational services.

Godrej Agrovet – Company has signed three MOU with Assam, Manipur and Tripura state governments for development and promotion of Oil Palm Cultivation in the region under the National Mission on Edible Oils-Oil Palm (NMEO-OP) scheme.

Securities in Ban: Tata Chemicals.

Derivative View: Max Put OI is at 17000 and 17500 and Max Call OI is at 18000 and 17600. Option data suggests an immediate trading range between 17300 to 17700.

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