From Advisory Desk 25th April 2022 Market Outlook: Globally, | TR Capital : Stock Market updates

From Advisory Desk 25th April 2022

Market Outlook: Globally, vix has shot up which is indicating further global volatility. However, good corporate earnings will provide stock based buying opportunities at lower end. US futures were trading in red ahead of major corporate earnings in this week. SGX Nifty is indicating a gap down opening for indian markets inline with negative asian markets today and sell-off in US markets on friday. We expect markets may remain in volatile amid worries about inflation impact on corporate earnings and concerns on aggressive US Fed rate hikes. However, stock specific action will be momentum as we are progressing into earnings season. Palm oil manufactures like Godrej agrovet, Ruchi soya, Adani wilmar may see some positive impact after indonesia bans palm oil exports from april 28th and will have a negative impact on FMCG stocks. As per sources, LIC IPO likely to hit markets in may first week after the stake dilution and valuations revised to lower.

Actionable: Buy ICICI Bank,

Global market:
DOW: -981
SGX NIFTY: -250 (prev. close 17180)
NIFTY 50 : 17171
Sensex : 57197

Institution:
FII: - 2462 Cr
DII: + 1602 Cr

NSE:
Advances: 1382 / Declines: 2030

Currency:
Dollar: $ 76.48
Dollar Index: 101.26

Commodity:
Gold: $1925 per ounce
Crude: $103.05 per barrel

Bonds:
10 year US bond rate: 2.84
10 year Indian Bond rate: 7.16

Derivative:
PCR: 0.88
VIX: 18.35

Today’s results announcement: Tatva Chintan Pharma Chem, Tata Investment Corporation, Century Textiles & Industries, Eveready Industries India, Gujarat Mineral Development Corporation, Mahindra CIE Automotive, Meghmani Finechem, Arihant Capital Markets, Artson Engineering, Automotive Stampings & Assemblies, Axita Cotton, Divyashakti, Maharashtra Scooters, Snowman Logistics, Steel Exchange India, Sylph Technologies, Triveni Enterprises, and VTM.

Results update:

Above estimates: ICICI Bank

Inline estimates: Hindustan Zinc

Below estimates: Tejas Network, Sundaram fasteners

Updates:

Reliance - Company called off Future Retail takeover proposal as it can’t be implemented as secured creditors rejected the RIL plan. On Friday, secured lenders of FRL rejected Rs 24,713 crore deal to sell its assets to Reliance Retail Ventures Ltd (RRVL), a subsidiary of RIL.

Securities in Ban: NIL.

Derivative View : VIX closed at 18.35. Max Put OI is at 17000 and 16700. Immediate max Call OI is at 17500 and 17400. Option data suggests a wider trading range between 16700 to 17500.