15th November 2022

 

Market Outlook: US markets ended lower as investors reacted to comments from Fed officials on future policy direction. Crude oil prices have fallen more than 3.5% after OPEC slashed its global oil demand outlook for a second consecutive month. SGX Nifty is indicating a positive start for Indian markets inline with Asian markets and US futures. On domestic front, CPI inflation eases to 3-month low of 6.77% in Oct, mainly due to softening food prices. From past few days, FIIs have remained as net buyers and bought amounting over 13k crore so far in this month. We remain positive on markets and expect the ongoing momentum to continue with sector and stock specific action.

 

Actionable: Buy Ambuja Cements, Mind tree, CDSL.

 

Global market:

DOW:   -211

SGX NIFTY:   +50   (prev. close 18377)

NIFTY 50 : 18329

Sensex : 61624

 

Institution:

FII:                +  1089    Cr

DII:                +  47        Cr

NSE:

Advances:  1668 / Declines:  1948

Currency:

Dollar: $ 81.26

Dollar Index: 107.01

 

Commodity:

Gold: $1772  per ounce

Crude: $92.93  per barrel

 

Bonds:

10 year US bond rate: 3.86

10 year Indian Bond rate: 7.29

Derivative:

PCR: 0.93

VIX:  14.91

Results Update:

Above estimates: KNR Constructions, Strides Pharma, Abbott India, AIA Engineering, Syrma SGS

Inline estimates: ONGC, Biocon, Apollo Tyres, Jyoti labs

Below estimates: Grasim Industries, Bharat Forge, Balkrishna Industries, Lux Industries, NMDC

Updates:

Today is the last day to buy Motherson Sumi Wiring India Ltd to be eligible for Bonus Issue (2:5).

 

Balkrishna Industries - Company withdraws its FY23 volume guidance of 3.2-3.2 lakh MT due to challenging macro environment.

 

Paytm - Paytm lock-in for Pre-IPO investors ends which is nearly 86% of the shareholding.

 

Larsen & Toubro Infotech - LTI and Mindtree both have got clearances from NCLT to operate as a single company from November 14. Record Date is fixed as 24th November for determining eligible shareholders in the amalgamation. All shareholders of Mindtree will be issued shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree.

Adani Enterprises - SEBI approves Adani’s open offer for 26% shares of NDTV.

 

Biocon - Company's board approved proposals to raise funds through issuance of NCD worth $250 million (Rs.2,024.61 crore) and commercial papers worth $275 million (Rs.2,227.07 crore).

 

Securities in Ban: BHEL, GNFC, PNB, SUN TV.

Derivative View: Immediate Max Call OI is at 19000 and 18500 and max Put OI is at 18000 and 17500. Option data suggests an immediate trading range in between 18100 to 18600 zone.