From Advisory Desk 18th May 2022 Market Outlook: US markets c | TR Capital : Stock Market updates

From Advisory Desk 18th May 2022

Market Outlook: US markets closed sharply higher on account of robust retail sales data. Asian markets have started on a mixed note, with SGX Nifty is indicating a slightly weak opening. Yesterday, Nifty has witnessed a strong rally led by value buying and short covering on account of positive global cues. Metals were the top gainers followed by Energy and oil sectors. On derivatives front, FIIs have been gradually reducing their short exposure which may support the market. India VIX has cooled down and need to further come down to below 20 level to provide strength to the market. Now, the support shifted to 16000 level and it has to hold for further upmove.

Actionable: Buy DLF, LTTS, HAL, Coromandel international.

Global market:
DOW:   +431
SGX NIFTY:   -35   (prev. close 16269)
NIFTY 50 : 16259
Sensex : 54318

Institution:
FII:                    -  2192 Cr
DII:                   + 2294  Cr

NSE:
Advances: 2607 / Declines: 737

Currency:
Dollar: $ 77.56
Dollar Index: 103.30

Commodity:
Gold: $1812  per ounce
Crude: $112.55  per barrel

Bonds:
10 year US bond rate: 2.97
10 year Indian Bond rate: 7.37

Derivative:
PCR: 0.86
VIX:  22.74

Today’s results announcement: ITC, Aditya Birla Fashion and Retail, Arvind, Barbeque Nation Hospitality, Brookfield India Real Estate Trust REIT, Finolex Industries, GIC Housing Finance, GMR Power and Urban Infra, GTL, Indraprastha Gas, InterGlobe Aviation, Indian Overseas Bank, JK Lakshmi Cement, LIC Housing Finance, Lupin, Manappuram Finance, NDTV, Pidilite Industries, Route Mobile, Shyam Metalics, Shriram Asset Management, and Westlife Developments.

Results update:

Above estimates: PI Industries, Galaxy Surfactants, NOCIL, Abbott india, Bharti Airtel, DLF

Inline estimates:

Below estimates: Kajaria Ceremics, Dr Lalpath labs, IRB Infra, IOC

Updates:

Zydus Lifesciences - The company said its board will meet on May 20 to consider share buyback.

Motilal Oswal Financial Services - Company board approved buyback of up to 1.46 million shares at Rs 1100 a share. The company said it decided to use a tender offer route for buying of shares. The firm has fixed May 27 as the record date for the buyback. 

Securities in Ban: GNFC, Indiabulls Housing Finance, PNB.

Derivative View : VIX closed at 22.74. Max Put OI is at 16000 and 15800. Immediate max Call OI is at 16500 and 16600. Option data suggests a wider trading range between 15800 to 16600.