Morning Notes
28th Feb, 2020
 

Trading Range:

Nifty opened gap down at 11661 on Thursday and made a high and low of 11664 and 11537 respectively before closing negative at 11633.

Review/Outlook:

For the day, support for Nifty exists at 11560 and 11490 levels whereas resistance for Nifty stands at 11710 and 11780 levels.

Review/Outlook:

Bank Nifty opened gap down at 30270, made a high of 30272, low of 29914, and closed negative at 30187. For the day, support for Bank Nifty exists at 30000 and 29800 levels whereas resistance for Bank Nifty stands at 30400 and 30600 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 39,745 -0.36
Nifty 11,633 -0.39
BSE 200 4,898 -0.43
BSE Midcap 15,072 -0.65
BSE Smallcap 14,209 -0.83
Dow Jones 25,767 -4.42
NASDAQ 8,566 -4.61
 

DERIVATIVES INDICATORS FOR FEB 28, 2020:

NIFTY 11633.30 (-45.20) (-0.39%)
NIFTY MAR FUTURE 11629.25 (4.05 Points Discount)
NIFTY PCR - OI 1.37 (+0.36)
NIFTY OPEN INTEREST 1.52 Cr. (-14.92%)
INDIA VIX 17.76 (-2.71%)
NIFTY ROLLOVER 78%

NIFTY OPTIONS ACTIVITY (26-MAR SERIES)

CALL 11600 CE +5.67 lac Shares
CALL 11800 CE +4.47 lac Shares
PUT 11600 PE +5.25 lac Shares
PUT 11400 PE +3.17 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 16,179 -0.58
Bankex 34,682 -0.31
PSU 6,131 -1.37
Healthcare 13,936 +0.20
IT 15,878 -0.90
 
Market Turn Over (`cr)
Index 27/02 26/02
BSE Cash 2,373 2,191
NSE Cash 40,313 40,632
NSE F&O 3,432,313 1,906,810
BSE Delivery % 44.64 42.52
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 32.67 67.33
BSE 200 30.85 69.15
BSE 500 27.80 72.00
Total BSE 31.67 62.34
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 46.46 -1.34
Gold Rs./ 10 Gms 42385.00 -0.28
Silver Rs./ Kg 46180.00 -0.85
Rs.- US $ 71.71 -0.14
Rs.- Euro 78.77 +0.63
FII (Rs cr )
27/02* 26/02*
FIIs -3132.32 -1838.21
MFs - -

*Date refers to the day of activity and not the day on which it is reported.

 
Details Buy Sell Open interest at the
end of the day
Net Position
No. of
Contracts
Value
(Rs. Cr)
No. of
Contracts
Value
(Rs. Cr)
No. of
Contracts
Value
(Rs. Cr)
Value
(Rs. Cr)
Index Futures         90,740.00        7,137.36    1,18,421.00        9,337.91   1,88,177.00      15,552.77  (2,200.55)
Index Options     67,35,731.00   4,59,370.93   66,52,019.00   4,52,489.31   4,96,005.00      41,560.05   6,881.62
Stock Futures       4,05,337.00      26,111.24    3,92,499.00      25,384.92  13,60,101.00      85,721.40      726.32
Stock Options         26,248.00        1,815.54       24,824.00        1,719.14      16,116.00        1,063.90        96.40
Total     72,58,056.00   4,94,435.07   71,87,763.00   4,88,931.28  20,60,399.00   1,43,898.12   5,503.79
Corporate News
After battling for more than two-and-a-half years, JSW Steel’s bid to take over the bankrupt Bhushan Power and Steel (BPSL) is far from over. BPSL promoter Sanjay Singal has filed a petition in the Supreme Court against te National Company Law Appeallate Tribunal order clearing Rs.19,700-crore bid of JSW Steel to acquire the bankrupt company under Insolvency and Bankruptcy Code. (BL).
Nestle SA, the world’s largest food and beverage company, told employees to avoid travelling for business reasons until the middle of next month to keep from contracting or spreading the coronavirus. (ET).
State-owned power giant NTPC on Thursday said it has invited expression of interest (EoI) from interested parties for utilisation of 100 per cent fly ash produced at its various thermal power plants across the country. The fly ash will be procured from NTPC’s Vindhyachal, Rihand, Korba and Sipat super thermal power stations. (BL).
Hindustan Petroleum Corp Ltd (HPCL) on Thursday said it has acquired 17.28 per cent stake in Petronet MHB Ltd, a firm that owns a petroleum product pipeline at Mangalore, for Rs 185.38 crore. (ET).
Pidilite Industries has acquired a 70 per cent stake in Tenax India Stone Products Pvt Ltd in an all-cash deal for about ₹ 80 crore. (BL).
TVS Motor Company on Thursday announced its partnership with Motomundo SA in Honduras for sales and service functions. (ET).
Dr Reddy’s Laboratories Ltd has announced the first-to-market launch of naproxen and esomeprazole magnesium delayed-release tablets. They are the therapeutic equivalent generic version of Vimovo, approved by the US Food and Drug Administration (USFDA). (BL).
Economy and Sector News
Coronavirus outbreak could cause a dent to the recovery of the Indian economy amid supply chain disruptions and inflationary pressures, a report said on Thursday. According to Dun & Bradstreet’s Economy Observer report, manufacturing companies could face production disruptions if the length of the outbreak gets prolonged and their supply chain is not restored to normalcy. (BL).
The government is assessing the impact of the coronavirus outbreak in China on the Indian pharma industry. In a letter sent to pharma majors, the Pharmaceutical Export Promotion Concil (Pharmexcil), an arm of the Ministry of Commerce, has asked them to provide data on the nature and quantum of their Active Pharmeutical Ingredient (APIs), and Key Starting Material/Intermediary imports from China. (ET).
Having suffered its weakest expansion in over six years in the September quarter, India’s economy probably fared slightly better in the December quarter, before suffering a relapse due to the impact of the coronavirus globally, analysts said. The median forecast of a Reuters poll of economists put the annual economic growth at 4.7 per cent in the December quarter, marginally higher than 4.5 per cent in the previous quarter thanks to a small rebound in rural demand, private consumption and government spending. (BL).
The METS (Mining Equipment, Technology and Services) sector from Australia is keen to partner with Indian companies in the energy and resources sector but wants “certainty and continuity in policy framework”. (ET).
* ET - Economic Times, BS - Business Standard, BL - Business Line, TOI - Times of India, Mint, IE - Indian Express, BT - Business Today, IE - Indian Express
Global Markets
 

DJIA and NASDAQ Composite

US markets recorded more losses on Thursday as major indices dipped into correction terror after the Wuhan coronavirus continued to spread and some more big names warned on guidance. The Dow Jones Index closed at 25,766, down 1,190.95 points by 4.42%. The Standard & Poors 500 index closed at 2,979 down 137.63 points by 4.42%. The Nasdaq Composite Index closed at 8,566, down 414.29 points by 4.61%.

FTSE 100

UK markets were hammered on Thursday as the epicentre of new Chinese coronavirus cases shifted to the Continent and after the government published its mandate for trade talks with the European Union which did not exclude the possibility of leaving the bloc without a deal having been struck. The FTSE 100 index closed at 6,796, down 246.07 points by 3.49%.

 
 
Global Indices
27/02/2019 Clsg Chg%
Dow Jones 25,766 -4.42
NASDAQ 8,566 -4.61
FTSE 100 6,796 -3.49
Bovespa 102,984 -2.59
28/02/2020 Latest
(7:48AM IST)
Chg%
Nikkei 21,214 -3.34
Hang Seng 26,289 -1.83

Nikkei

Asian share markets started trading early in the morning on Friday on a negative note as the investors will be closely watching the US markets. Nikkei is currently trading at 21,214, down 734.02 points by 3.34%.

Precious Metals

Gold futures gave up earlier gains on Thursday to finish lower for a third consecutive session, as U.S. bond yields traded above the day’s lows.

Base Metals

The London Metal Exchange three-month zinc price trended lower over the course of Thursday February 27, briefly touching an intraday high of $2,057 per tonne before falling to a closing price of $2,012 per tonne amid a turnover of fewer than 10,000 lots.

Crude Oil

Oil futures fell on Thursday, with prices posting a fifth consecutive session decline and their lowest finish in more than a year, as worries about the rapid spread of the COVID-19 epidemic outside of China continued to drive markets.

 
 
 

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