From Advisory Desk : Vikash Sahay
22nd September 2020
Market Outlook: US markets tanked by 2%, Europe markets down by 4% and Asian markets are down by over 1%. SGX Nifty is up by 40 points after yesterday wiping off 250 points. Yesterday fall was seen in all sectors except IT which was holding for sometime. Looking at the steep fall yesterday we would like have a cautious view on markets and wait for confirmation of the changing trend before taking positions.
SGX NIFTY: +30 (prev.close 11244)
NIFTY 50 : 11250
Sensex : 38034
FII: -540 Cr
DII: -518 Cr
Advances: 579 / Declines: 2194
Dollar: $ 73.37
Gold: $1915 per ounce
Crude: $41.67 per barrel
10 year US bond rate: 0.67
10 year Indian Bond rate: 6.02
Angel Broking( Subscribe): IPO will open today for subscription and closes on 24th Sep 2020 at a price band of Rs.305- 306 per share.
GMM Pfaulder OFS: Promoters to sell upto 28%( including additional option) stake in the company through OFS at a floor price of Rs.3500 per share, which is a 33% discount to yesterday’s closing price. Offer opens today for non retail investors and tomorrow for retail investors.
Securities in Ban : GLENMARK, IDEA, SAIL,VEDL.
Derivative View : VIX closed at 22.18. Max Put OI is at 11200 then 11000. Max Call OI is at 11400 then 11500. Option data suggests a wider trading range between 11000 to 11500.