Morning Notes
03rd Oct, 2019

Trading Range:

Nifty opened gap up at 11515 on Tuesday and made a high and low of 11554 and 11248 respectively before closing negative at 11360.


For the day, support for Nifty exists at 11250 and 11180 levels whereas resistance for Nifty stands at 11430 and 11500 levels.


Bank Nifty opened gap up at 29226, made a high of 29526, low of 28077, and closed negative at 28725. For the day, support for Bank Nifty exists at 28400 and 28000 levels whereas resistance for Bank Nifty stands at 29000 and 29500 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 38,305 -0.94
Nifty 11,360  -1.00
BSE 200 4,743 -1.08
BSE Midcap 13,886 -1.54
BSE Smallcap 12,959 -1.61
Dow Jones 26,079 -1.86
NASDAQ 7,785 -1.56


NIFTY 11359.90 (-114.55) (-1.00%)
NIFTY OCT FUTURE 11429.85 (69.95 Points Premium)
NIFTY PCR - OI 0.96(-0.015)
NIFTY OPEN INTEREST 5.71Cr. (+5.71%)
INDIA VIX 16.75 (+5.58%)


CALL 11400 CE +2.12 lac Shares
CALL 11600 CE +1.49 lac Shares
PUT 11400 PE -0.74 lac Shares
PUT 11200 PE +1.20 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 16,693 -0.41
Bankex 32,379 -1.55
PSU 6,574 -1.28
Healthcare 12,357 -1.09
IT 15,407 -1.68
Market Turn Over (`cr)
Index 01/10 30/09
BSE Cash 2,900 2,775
NSE Cash 46,351 39,655
NSE F&O 1,854,591 993,216
BSE Delivery % 28.45 38.30
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 21.78 78.22
BSE 200 20.40 79.60
BSE 500 18.60 81.20
Total BSE 24.91 69.76
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 52.55 -0.17
Gold Rs./ 10 Gms 37311.00 +1.08
Silver Rs./ Kg 44852.00 +1.66
Rs.- US $ 71.14 +0.57
Rs.- Euro 78.01 +1.21
FII (Rs cr )
01/10* 30/09*
FIIs -298.82 -302.00
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
(Rs. Cr)
No. of
(Rs. Cr)
No. of
(Rs. Cr)
(Rs. Cr)
Index Futures    1,02,331.00       7,355.16    1,02,456.00       7,190.89    1,61,841.00     13,059.48     164.27
Index Options  61,97,590.00  4,22,216.09  61,83,685.00  4,21,106.93    6,61,314.00     51,316.56  1,109.16
Stock Futures    3,46,089.00     17,832.16    3,60,704.00     18,562.86  15,54,266.00     90,557.80    (730.70)
Stock Options    1,36,656.00       7,345.35    1,37,774.00       7,367.89       42,602.00       2,348.55      (22.54)
Total  67,82,666.00  4,54,748.76  67,84,619.00  4,54,228.57  24,20,023.00  1,57,282.39     520.19
Corporate News
Auto companies announced sales numbers for September 2019. On a YoY basis, Maruti sales dropped by 24%, Hyundai sales fell by 8%, Toyota sales fell by 17%, M&M sales dropped by 21%, Hero MotoCorp sales fell by 20%, Tata Motors sales dropped by 49%, and Ashok Leyland sales fell by 57%. (BL).
Cadila Healthcare Ltd (Zydus Cadila) on Wednesday announced positive results from the EVIDENCES IV Phase 2 clinical trial of Saroglitazar Magnesium, for treatment of liver diseases like non-alcoholic fatty liver disease (NAFLD) and non-alcoholic Steatohepatitis (NASH). (ET).
Welspun India, one of the largest suppliers of home textiles to retailers like Walmart, Costco and others, is focussing on the domestic market; even as it eyes Rs.10,000 crore of revenue over the next four to five years. (BL).
Coal India will hand over festive season bonus of Rs 64,700 to each of its 2.66-lakh odd coal workers. It will cost the company around Rs 1,700 crore. In more news, Flooding at one of Coal India's largest open-pit mines will halt production there for at least a month, a senior company official told Reuters on Wednesday, in a setback for a country trying to reduce its dependence on coal imports. The flooding at the Dipka mine, which produces more than 30 million tonnes a year of thermal coal and accounts for some 5 per cent of Coal India's overall output, could leave some power plants in eastern and central India scrambling for fuel. (ET).
Television brand Philips, which was out of the Indian market for a span of about a year-and-a-half, is expecting to grab a significant share of the TV market backed by new product launches and expansion of the retail network. Philips TV, which was being manufactured by Videocon Industries in India from 2010 under a brand-licensing agreement, went out of the market in the latter part of 2017, as its licensee had stopped production following financial woes. (ET).
TVS Motor Company has announced an exclusive ‘Limitless Assist - Roadside Assistance Plan’ for TVS Apache RR 310 customers. It will offer unlimited kilometres (towing and mechanical services) for an entire year to new as well as existing customers. Limitless Assist-RSA, effective from October, will be available free to new customers for one year and can be renewed at an annual fee of Rs.999, according to a statement. Existing TVS Apache RR 310 customers can avail the programme at Rs.999. The renewal can be done through select TVS Apache RR 310 dealerships. (BL).
A senior company official said that the biscuits and confectionery major, Parle Products, expects its Rol.a.Cola candy to clock sales of Rs 100 crore in the first 12 months of relaunching the brand in India. This would be accounting for 10 per cent of its overall turnover. Rol.a.Cola is making a comeback after a gap of 13 years. (ET).
Mahindra & Mahindra Limited and Ford Motor Company have signed a definitive agreement to create a joint venture that will develop, market and distribute Ford brand vehicles in India and Ford brand and Mahindra brand vehicles in high-growth emerging markets around the world. Mahindra and Ford will form a joint venture, with Mahindra owning a 51% controlling stake and Ford owning a 49% stake. Ford will transfer its India operations to the joint venture, including its personnel and assembly plants in Chennai and Sanand. Ford will retain the Ford engine plant operations in Sanand as well as the Global Business Services unit, Ford Credit and Ford Smart Mobility. (ET).
Novelis Inc, a subsidiary of Hindalco Industries, has received the European Commission’s conditional approval for its proposed acquisition of Aleris Corporation. The approval is contingent upon the sale of Aleris’ plant in Duffel, Belgium, which produces aluminium for the automotive and specialities markets. Novelis is working expeditiously to market the plant to potential buyers and sign a definitive agreement. (BL).
Economy and Sector News
At a time when farmers are staring at kharif crop losses caused by floods, the Gujarat government has asked crop insurance companies to assess the losses and clear farmers’ claims. State Agriculture Minister RC Faldu said the State Agriculture Department has commissioned a crop assessment in the excess-rainfall regions of the State, including Saurashtra and Kutch. In more news, Cooking gas and Air Turbine Fuel prices were hiked on October 2. An IndianOil statement said that the price of unsubsidised LPG cylinders had been hiked by Rs. 15 per 14.2 kg cylinder in Delhi. An unsubsidised LPG cylinder will now cost Rs. 605 for October 2019. ATF price was hiked to Rs. 64,909.67 per kilolitre (KL) for October 2019 from Rs. 63,295.48 per KL for September 2019. (BL).
The outstanding dues owed by distribution utilities to power producers rose around 57 per cent to Rs 78,020 crore in August 2019 as compared to the same month last year. Distribution Companies (discoms) owed a total of Rs 49,669 crore to power generation companies in August 2018, according to web portal and app namely PRAAPTI (Payment Ratification and Analysis in Power procurement for Bringing Transparency in Invoicing of generators). (ET).
The total gross GST revenue collected in September, 2019 is Rs91,916cr of which CGST is Rs16,630cr, SGST is Rs22,598cr, IGST is Rs45,069cr (including Rs22,097cr collected on imports) and Cess is Rs7,620cr (including Rs728cr collected on imports). The total number of GSTR 3B Returns filed for the month of August up to September 30, 2019, is 75.94 lakh. The government has settled Rs21,131cr to CGST and Rs15,121cr to SGST from IGST as regular settlement. The total revenue earned by the Central Government and the State Governments after regular settlement in the month of September 2019 is Rs37,761cr for CGST and Rs37,719cr for the SGST. The revenue during September 2019 is declined by 2.67% in comparison to the revenue during September 2018. During April-September, 2019 vis-à-vis 2018, the domestic component has grown by 7.82% while the GST on imports has shown negative growth and the total collection has grown by 4.90%. (BL).
The domestic gas price notified at $3.23/mmbtu (GCV basis) for H2 FY2020, a decline of 12.5% from the price of $3.69/mmbtu (GCV basis) applicable for H1 FY2020, is expected to dampen the profitability of the gas producers. As per an ICRA note, the decline in domestic gas price is in line with the decline in global gas indices primarily Henry Hub over the reference period. Additionally, with prices of gas at various international hubs remaining low, the domestic gas price is expected to remain depressed. The low prices of gas at international hubs is contributed to by the commissioning of new gas liquefaction capacities with about 35 million tons coming online in CY2018 and another about 30 million tons expected to come online in CY2019. Moreover, shale gas production continues to be healthy in USA. Accordingly, Asian spot LNG prices which remained at $9-11/mmbtu during the winters of 2018-2019 have already declined the levels of $5-6/mmbtu. (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 suffered their sharpest one-day declines in nearly six weeks on Wednesday after employment and manufacturing data suggested that the U.S.-China trade war is taking an increasing toll on the U.S. economy. The Dow Jones Index closed at 26,079, down 494.42 points by 1.86%. The Standard & Poors 500 index closed at 2,888, down 52.64 points by 1.79%. The Nasdaq Composite Index closed at 7,785, down 123.44 points by 1.56%.

FTSE 100

UK markets suffered very sharp declines on Wednesday amid ongoing worries about a global slowdown, even as investors digested Prime Minister Boris Johnson's proposal to Brussels for a free trade area and as regards the Irish border. The FTSE 100 index closed at 7,123, down 237.78 points by 3.23%.

Global Indices
02/10/2019 Clsg Chg%
Dow Jones 26,079 -1.86
NASDAQ 7,785 -1.56
FTSE 100 7,123 -3.23
Bovespa 101,031 -2.90
03/10/2019 Latest
(5:55AM IST)
Nikkei 21,418 -1.66
Hang Seng 26,043 -0.19


Asian stocks, already under pressure from growing global growth fears, tumbled on Thursday after New York markets slumped overnight because the United States opened a new trade war front by saying it will impose tariffs on $7.5 billion of goods from the European Union. Nikkei is currently trading at 21,418, down 360.71 points by 1.66%.

Precious Metals

Spot gold XAU=, a safe-haven asset that investors often buy during time of heightened risk, rose 0.02% to $1,499.59 per ounce on Thursday.

Base Metals

The London Metal Exchange three-month nickel price rose by 1.4% to close at $17,475 per tonne on Wednesday October 2 from $17,220 per tonne the previous day.

Crude Oil

Oil future extended their decline in Asia on Thursday as a bigger-than-expected increase in U.S. crude inventories and growing evidence of slowing economic growth point to lower energy demand.


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