From Advisory Desk 29th April 2022 Market Outlook: US markets | TR Capital : Stock Market updates

From Advisory Desk 29th April 2022

Market Outlook: US markets closed higher amid earnings optimism, despite Q1 GDP dropped by 1.4%. However, futures were trading lower after Amazon and Apple reported a weak earnings. Asian markets have started on a mixed note, with SGX Nifty is indicating a slightly positive opening. Yesterday, Oil prices climbed higher on concerns of a potential EU ban on Russia's oil. On domestic front, FIIs were turned into net buyers after 14 sessions. Nifty April-May rollover stood at 78% which is inline with three months average. We expect positive momentum to continue however may see selling pressure near higher end of the consolidation zone 16800-17500.

Actionable: Buy Reliance Industries, Infosys, Ultratech cement.

Global market:
DOW: +614
SGX NIFTY: +75 (prev.close 17230)
NIFTY 50 : 17245
Sensex : 57521

Institution:
FII: + 743 Cr
DII: + 781 Cr

NSE:
Advances: 1621 / Declines: 1788

Currency:
Dollar: $ 76.48
Dollar Index: 103.47

Commodity:
Gold: $1902 per ounce
Crude: $106.90 per barrel

Bonds:
10 year US bond rate: 2.82
10 year Indian Bond rate: 7.15

Derivative:
PCR: 0.92
VIX: 19.37

Today’s results announcement: Maruti Suzuki, IndusInd Bank, UltraTech Cement, Wipro, SBI Cards and Payment Services, Can Fin Homes, Geojit Financial Services, Gillette India, GNA Axles, Gokaldas Exports, HFCL, Just Dial, L&T Finance Holdings, Lloyds Metals and Energy, RPG Life Sciences, Shriram City Union Finance, Solara Active Pharma Sciences, Sonata Software, Star Health and Allied Insurance Company, Supreme Industries, Tanla Platforms, Tata Chemicals, and Thyrocare Technologies.

Results update:

Above estimates: Ambuja cemnets, Coromandel international, Varun Beverages, Vedanta, FCL

Inline estimates: Axis Bank, SBI Life, Laurus labs, Biocon, Mphasis

Below estimates: Sterlite Tech, PNB Housing Finance

Updates:

Tata Power: The company has collaborated with National Real Estate Development Council to install 5,000 electric vehicle charging points across Maharashtra.

Tata Motors: Company expects to aggressively ramp up annual production of electric vehicles (EVs) to more than 80,000 units this financial year. That compares with the 19,000 EVs it built and sold in the last financial year.

Securities in Ban: NIL.

Derivative View : VIX closed at 19.37. Max Put OI is at 17000 and 17200. Immediate max Call OI is at 17300 and 17500. Option data suggests a wider trading range between 17000 to 17500