Morning Notes
02nd Dec, 2019

Trading Range:

Nifty opened flat at 12146 on Friday made a high and low of 12147 and 12017 respectively before closing negative at 12056.


For the day, support for Nifty exists at 11990 and 11940 levels whereas resistance for Nifty stands at 12100 and 12160 levels.


Bank Nifty opened gap down at 32074, made a high of 32087, low of 31771, and closed negative at 31946. For the day, support for Bank Nifty exists at 31700 and 31500 levels whereas resistance for Bank Nifty stands at 32100 and 32300 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 40,793 -0.82
Nifty 12,056 -0.78
BSE 200 5,046 -0.69
BSE Midcap 15,085 +0.16
BSE Smallcap 13,561 +0.47
Dow Jones 28,051 -0.40
NASDAQ 8,665 -0.46


NIFTY 12056.05 (-95.10) (-0.78%)
NIFTY DEC FUTURE 12099.85 (43.80 Points Premium)
NIFTY PCR - OI 1.54(-0.17)
NIFTY OPEN INTEREST 1.41Cr. (-3.54%)
INDIA VIX 13.89 (-0.64%)


CALL 12200 CE +3.00 lac Shares
CALL 12100 CE +3.71 lac Shares
PUT 12000 PE -0.66 lac Shares
PUT 11900 PE -0.90 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 18,310 -0.22
Bankex 36,437 +0.91
PSU 7,134 +1.24
Healthcare 13,676 +0.21
IT 14,985 +0.73
Market Turn Over (`cr)
Index 29/11 28/11
BSE Cash 4,015 2,794
NSE Cash 43,699 42,581
NSE F&O 778,769 2,460,451
BSE Delivery % 42.98 38.79
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 17.82 81.19
BSE 200 31.84 67.66
BSE 500 45.40 53.40
Total BSE 43.15 49.73
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 55.17 -5.06
Gold Rs./ 10 Gms 38031.00 +0.82
Silver Rs./ Kg 44506.00 +0.79
Rs.- US $ 71.73 +0.25
Rs.- Euro 79.08 +0.44
FII (Rs cr )
29/11* 28/11*
FIIs +1627.69 -1053.51
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       25,235.00       1,945.84       48,973.00       3,948.25    1,44,675.00     12,376.46  (2,002.41)
Index Options  20,88,381.00  1,52,148.43  20,69,885.00  1,50,645.88    5,18,388.00     43,878.47   1,502.55
Stock Futures    2,41,375.00     12,436.29    2,41,955.00     12,245.08  16,28,008.00     98,029.55      191.21
Stock Options       84,618.00       4,401.01       83,060.00       4,330.20       35,970.00       1,961.91        70.81
Total  24,39,609.00  1,70,931.57  24,43,873.00  1,71,169.41  23,27,041.00  1,56,246.39     (237.84)
Corporate News
Auto companies announced monthly sales numbers for Nov 2019. On a YoY basis, Maruti recorded decline in sales of 3.3%, Hyundai recorded sales rise of 2%, Tata Motors sales dropped by 39%, Honda Cars India sales dropped by 50%, and M&M sales dropped by 10%. (BL).
State-run Steel Authority of India Limited (SAIL) is planning to commence manufacturing of special quality rails for high-speed train corridors and metro projects in the next two years, an official said. (ET).
Reliance Jio Infocomm (RJio) has emerged as the highest bidder for Reliance Communications’ (RCom) tower and fibre assets, with the company controlled by Asia’s richest person Mukesh Ambani placing a Rs.3,600-crore bid. Bharti Airtel’s bid for the same assets, housed under RCom subsidiary Reliance Infratel, is at Rs.1,800 crore, according to sources. In more news, Reliance Industries Ltd has announced that its newly created subsidiary for digital services will be called Jio Platforms Limited. (BL).
GAIL Gas Ltd, which has been authorised to implement City Gas Distribution (CGD) project in Dakshina Kannada district, has introduced three payment options for getting domestic PNG (piped natural gas) connections in Mangaluru. (ET).
Baba Ramdev-led Patanjali Ayurved on Friday said it has already tied up loan worth Rs 3,200 crore from a consortium of lenders led by State Bank of India to fund its acquisition of Ruchi Soya through insolvency process. (BL).
Highway developer Dilip Buildcon on Friday said it has bagged a road project worth Rs.1,362.06 crore in Uttar Pradesh. The company has received the letter of acceptance (LoA) from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for EPC project in the state. (ET).
Auro Vaccines LLC, an arm of  Aurobindo Pharma Ltd, has entered into a pact to acquire certain business assets from Profectus BioSciences Inc., US for an upfront cash consideration of $11.29 million (around Rs.80 crore). (ET).
The Cabinet Committee on Economic Affairs (CCEA) is understood to have given its nod for additional investment of $2,670 million by Bharat Petro Resources Ltd (BRPL), a wholly-owned subsidiary of Bharat Petroleum Corporation Ltd (BPCL), for a LNG project in Mozambique. (BS).
Oil and Natural Gas Corporation (ONGC) has raised $300 million under the External Commercial Borrowing route for meeting its capital expenditure needs. The bonds will bear a coupon of 3.375 per cent and will mature in 2029. This is the tightest coupon for 10 year or longer tenor offering from India ever achieved by any Indian Corporate. (BL).
Consumer durables company LG Electronics India posted a net profit of Rs.1,534.50 crore in FY19, clocking 5.52 per cent growth over the previous fiscal. (ET).
Telecom Companies will be in focus as India’s three largest telecom firms on Sunday announced new and costlier prepaid plans, signalling an easing of a price war. Bharti Airtel & Vodafone Idea have hiked tariff in range of 15 to 50% depending upon plans. Post that Reliance Jio also announce tariff hike upto 40% in certain plans. Airtel and Vodafone Idea’s new plans will be effective Dec. 3; Reliance Jio's will roll out on Dec 6. (BQ).
Yes Bank: After a 12-hour long board meet on Friday, the board of the company approved the issue of $2 billion worth of equity shares on a preferential basis to a clutch of investors. (BQ).
Economy and Sector News
ICRA has downgraded ratings of Shapoorji Pallonji and Company Private Limited (SPCL) and assigned negative outlook. The ratings downgrade and negative outlook takes into account the slower-than-anticipated progress achieved by the company in terms of its deleveraging plans through equity infusion and asset monetisation. In more news, the Airports Authority of India (AAI) has recommended the Centre to privatise airports at Amritsar, Varanasi, Bhubaneswar, Indore, Raipur and Trichy, a senior government official said. (BL).
After months of staying much below the expected number, the collection from Goods & Services Tax (GST) in November crossed Rs 1 lakh crore. This is the fourth month that GST collections have been in excess of Rs 1 lakh crore in the current fiscal. However, the joy could be short lived. According to a Finance Ministry statement, the gross GST revenue collected in November, 2019, was Rs 1,03,492 crore, of which CGST (Central Goods & Services Tax) was Rs 19,592 crore, SGST (State Goods & Services Tax) Rs 27,144 crore, IGST (Integrated Goods & Services Tax) Rs 49,028 crore (including Rs 20,948 crore collected on imports) and Cess Rs 7,727 crore (including Rs 869 crore collected on imports). The total number of GSTR-3B Returns filed for the month of October up to 30 November, 2019, is 77.83 lakh. In more news, the introduction of the direct benefit transfer (BDT) scheme in the fertiliser sector may have helped the government save more than Rs 10,000 crore, but it has hit the bottomline of many fertiliser companies. (ET).
The Centre’s fiscal deficit has exceeded the Budget Estimate in the first seven months (April-October), signalling continued strain on the economy. According to data released by the Controller General of Accounts (CGA), fiscal deficit for the April-October period touched Rs.7.20 lakh crore. This is 102.4 per cent of the Budget Estimate of ₹7.03 lakh crore. The only solace is that this year’s deficit during the first seven months is lower than corresponding period of the last fiscal. Deficit for April-October period of 2018-19 was 103.9 per cent of the Budget Estimate. In more news, Core sector growth disappointed once again, registering a contraction of 5.8 per cent in October 2019. This is the second consecutive month of contraction with the September 2019 print coming at (-) 5.1 per cent. In October last year, the core sector had registered 4.8 per cent growth. For the month under review, all segments except fertilisers (11.8 per cent) and refinery products (0.4 per cent) had negative growth rates. (BL).
Indian economy recorded slowest growth rate in six years during July-September quarter. However, the Finance Ministry put up a brave face by saying that economy has bottomed out. According to data released by the Ministry of Statistics and Program Implementation, the second quarter GDP (Gross Domestic Product) growth rate was 4.5 per cent as against 7 per cent during corresponding period of last fiscal (2018-19). This is the lowest growth rate after fourth quarter (January-March) of fiscal year 2012-13, when GDP growth rate was 4.3 per cent. Also, this is sixth successive quarter of growth rate declining. In more news, a spurt in wheat planting in Madhya Pradesh and Rajasthan this week pushed up the overall rabi sowing in the country, with the total sown area reaching 338.20 lakh hectares (lh), marginally lower than the 339.75 lh planted in the corresponding week last year. Farmers in Madhya Pradesh and Rajasthan have planted wheat in substantially larger areas than what was covered in the same week last year. While wheat has been planted on 37.25 lh in Madhya Pradesh so far, against 28.75 lh in the same period last year, in Rajashtan, it has gone up to 18.28 lh, compared to 15.96 lh last year, showed rabi sowing data released by the Agriculture Ministry on Friday. (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 closed lower on Friday's shortened session following a day off from trading in celebration of Thanksgiving Day. The Dow Jones Index closed at 28,051, down 112.59 points by 0.40%. The Standard & Poors 500 index closed at 3,141, down 12.65 points by 0.40%. The Nasdaq Composite Index closed at 8,665, down 39.70 points by 0.46%.

FTSE 100

UK markets in London finished the week on Friday mired in red amid worries about the current state of Sino-US trade relations and the toll they were taking on the global economy, but Ocado surged as it announced its first deal in Asia. The FTSE 100 index closed at 7,348, down 69.90 points by 0.94%.

Global Indices
29/11/2019 Clsg Chg%
Dow Jones 28,051 -0.40
NASDAQ 8,665 -0.46
FTSE 100 7,348 -0.94
Bovespa 108,233 -0.05
02/12/2019 Latest
(3:45AM IST)
Nikkei 23,294 -0.49
Hang Seng 26,346 -2.03


Asian stocks started trading early in the morning on Monday on a negative note as the investors will be watching the markets closely. Nikkei is currently trading at 23,294, down 115.23 points by 0.49%.

Precious Metals

Gold climbed on Friday with U.S.-China trade relations possibly on the back foot again, but bullion registered its worst month since September as positive data about the U.S. economy dulled interest in haven assets..

Base Metals

The three-month price of nickel traded on the London Metal Exchange continued its descent below $14,000 per tonne to close at $13,675 per tonne on Friday 29, down by 2.3%, amid stainless steel demand concerns and ongoing macro tension between the United States and China.

Crude Oil

Oil prices posted sharp losses Friday, trimming the November gain, as the much-anticipated approval of a production-cut extension at next week’s OPEC meeting grew more doubtful following speculative reports.


Retail Research Desk:

Akhil Rathi D: 91 22 2858 3210
Hrishikesh Yedve D: 91 22 2858 3207
Vrinda Aditya D: 91 22 2858 3209
Neeraj Sharma D: 91 22 2858 3208
Rohan Gawale D: 91 22 2858 3213

Karan Desai D: 91 22 2858 3221

Research Analyst Registration Number:
CIN: U65990MH1993PLC075388


Follow us on:


Information pertaining to Asit C. Mehta Investment Interrmediates Limited (ACMIIL): ACMIIL is a SEBI registered Stock Broker, Merchant Banker and Depository Participant. It is also a AMFI registered Mutual Fund Distributor. It does not have any disciplinary history. Its associate/group companies are Asit C. Mehta Commodity Services Limited, Asit C. Mehta Realty Services Pvt. Ltd, Asit C. Mehta Forex Pvt. Ltd, Nucleus IT Enabled Services , Asit C. Mehta Financial Services Limited (all providing services other than stock broking and merchant banking).

ACMIIL/its associates and its Research analysts have no financial interest in the companies covered on the report. ACMIIL/ its associates and Research analysts did not have actual/beneficial ownership of one per cent or more in the companies being covered at the end of month immediately preceding the date of publication of the research report. ACMIIL/its associates or Research analysts have no material conflict of interest, have not received any compensation/benefits for any reason (including investment banking/merchant banking or brokerage services) from either the companies concerned/third parties with respect to the companies covered in the past 12 months. ACMIIL/its associates and research analysts have neither managed or co-managed any public offering of securities of the companies covered nor engaged in market making activity for the companies being covered. Further, the companies covered neither are/nor were a client during the 12 months preceding the date of the research report. Further, the Research analyst/s covering the companies covered herein have not served as an officer/director or employee of the companies being covered.

This report is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon such. ACMIIL or any of its affiliates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in the report. To enhance transparency we have incorporated a Disclosure of Interest Statement in this document. This should however not be treated as endorsement of the views expressed in the report.