2022-05-17 06:28:19
From Advisory Desk 17th May 2022
Market Outlook: US markets closed in mix as investors assessed the weak economic data from China and New York state. Asian markets including SGX Nifty have started on a flat note. Crude oil prices hits two-months high on demand optimism as china planning to end covid restrictions from June 1st amid economic slowdown. On domestic front, Nifty continue to hold 15740 from last three days and hence that level acts as a support which will be crucial to watch out for. We continue to expect the volatility and the market texture still remains in sell on rise mode. Today, LIC shares would be listing on bourses and expect slightly negative to at par listing as per grey market trend.
Actionable: Buy M&M, HAL, JSPL.
Global market:
DOW: +26
SGX NIFTY: +30 (prev. close 15843)
NIFTY 50 : 15842
Sensex : 52973
Institution:
FII: - 1789 Cr
DII: + 1428 Cr
NSE:
Advances: 2163 / Declines: 1240
Currency:
Dollar: $ 77.45
Dollar Index: 104.19
Commodity:
Gold: $1824 per ounce
Crude: $114.85 per barrel
Bonds:
10 year US bond rate: 2.89
10 year Indian Bond rate: 7.31
Derivative:
PCR: 0.83
VIX: 24.52
Today’s results announcement: Bharti Airtel, Indian Oil Corporation, DLF, PI Industries, Abbott India, Bajaj Electricals, Bajaj Healthcare, EID Parry (India), Indoco Remedies, IRB Infrastructure Developers, Jubilant Ingrevia, Kajaria Ceramics, Dr Lal PathLabs, Minda Corporation, Sapphire Foods India, Fairchem Organics, Galaxy Surfactants, GMR Infrastructure, NOCIL, Nucleus Software Exports, Sun Pharma Advanced Research Company, and Zydus Wellness.
Results update:
Above estimates: Bharat Forge, MCX, Raymond, Nava Bharat ventures, Century ply
Inline estimates:
Below estimates: GSK Pharma, VIP Industries
Updates:
Aditya Birla Capital - Company said on exchanges that the firm has received a whistleblower complaint where allegations were made against Aditya Birla Sun Life and employees. Company said an independent committee investigating the complaint did not find any merit in any allegations.
Indigo - DGCA prima facie found Indigo's handling of special child at Ranchi Airport inappropriate. DGCA will issue a show-cause notice to Indigo to explain.
BPCL - As per report, A Government has decided to withdraw BPCL divestment in its current form, and it has been informed to the companies which had submitted Expression of Interest. It is difficult to say that fresh process will be initiated in current condition, but a fresh proposal for its stake sale will be drafted by DIPAM.
Securities in Ban: GNFC, Indiabulls Housing Finance, PNB.
Derivative View : VIX closed at 24.52. Max Put OI is at 15500 and 15800. Immediate max Call OI is at 16200 and 16000. Option data suggests a wider trading range between 15500 to 16200.
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