Morning Notes
03rd Sep, 2019

Trading Range:

Nifty opened gap up at 10988 on Friday and made a high and low of 11043 and 10875 respectively before closing positive at 11023.


For the day, support for Nifty exists at 10930 and 10880 levels whereas resistance for Nifty stands at 11070 and 11120 levels.


Bank Nifty opened gap up at 27408, made a high of 27586, low of 27122, and closed positive at 27428. For the day, support for Bank Nifty exists at 27100 and 26900 levels whereas resistance for Bank Nifty stands at 27600 and 27800 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 37,332 +0.71
Nifty 11,023 +0.68
BSE 200 4,609 +0.80
BSE Midcap 13,468 +1.01
BSE Smallcap 12,535 +0.84
Dow Jones 26,403 +0.16
NASDAQ 7,963 -0.13


NIFTY 11023.25 (+74.95) (+0.68%)
NIFTY SEP FUTURE 11058.90 (35.65 Points Premium)
NIFTY PCR - OI 1.38(+0.07)
NIFTY OPEN INTEREST 1.81Cr. (+0.86%)
INDIA VIX 16.28 (-0.87%)


CALL 11300 CE +1.76 lac Shares
CALL 11000 CE +2.04 lac Shares
PUT 10900 PE +1.70 lac Shares
PUT 10800 PE +7.28 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 15,768 +0.51
Bankex 30,950 +0.56
PSU 6,340 -0.44
Healthcare 12,875 +1.69
IT 16,149 +0.79
Market Turn Over (`cr)
Index 30/08 29/08
BSE Cash 2,169 1,752
NSE Cash 35,656 32,709
NSE F&O 928,907 2,804,687
BSE Delivery % 40.73 40.29
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 77.23 22.77
BSE 200 74.63 24.38
BSE 500 66.47 32.53
Total BSE 52.17 41.53
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 54.78 -0.58
Gold Rs./ 10 Gms 38656.00 -0.38
Silver Rs./ Kg 46742.00 +0.93
Rs.- US $ 71.96 +0.39
Rs.- Euro 78.91 -0.44
FII (Rs cr )
30/08* 29/08*
FIIs -627.22 -1264.45
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       74,109.00       5,361.26       62,579.00       4,497.14    1,67,986.00     13,257.72     864.12
Index Options  30,19,585.00  1,98,645.23  30,04,032.00  1,97,138.81    7,03,896.00     53,941.44  1,506.42
Stock Futures    2,68,292.00     14,553.51    2,51,403.00     13,443.57  14,90,433.00     88,043.61  1,109.94
Stock Options       97,752.00       5,538.07       97,718.00       5,539.31       39,933.00       2,268.07       (1.24)
Total  34,59,738.00  2,24,098.07  34,15,732.00  2,20,618.83  24,02,248.00  1,57,510.84  3,479.24
Corporate News
Auto companies announced sales numbers for August 2019. On YoY basis, Maruti recorded sales drop of 36%, Toyota Kirloskar registered sales decline of 24%, Hyundai Motors saw sales decline of 17%, Honda Cars sales dropped 51%, M&M registered sales decline of 32%, and Tata Motors sales dropped 58%. (BL).
Indraprastha Gas Limited (IGL) has hiked the selling prices of Compressed Natural Gas (CNG) by 50 paisa to 55 paisa across in NCT of Delhi, Noida, Greater Noida, Ghaziabad, Rewari, Gurugram and Karnal. (ET).
State-run oil refiner Bharat Petroleum Corporation Ltd (BPCL) will borrow as much as Rs 70,000 crore by 2024 to part-fund a Rs 1,10,000-crore expansion to bolster its refining and marketing infrastructure, raise petrochemical capacity, invest in upstream and gas ventures, the company’s finance director N Vijayagopal, has said. (BL).
Oil and Natural Gas Corporation (ONGC) will be investing close to $400 milllion in the next four years to develop the blocks it has won under the Open Acreage License Programme (OALP) bid rounds. ONGC has been awarded five blocks including operatorship in two blocks, under OALP Round-1. In the second and third rounds, ONGC has been awarded eight blocks. (ET).
Home-grown FMCG major Marico Ltd expects to grow volumes by 6-8 per cent and operating margins to over 19 per cent this fiscal (FY20). According to Vivek Karve, Chief Financial Officer, the medium-term volume growth is expected to be between 8 and 10 per cent in the domestic market, while the growth may be a tad lower at 6-8 per cent this fiscal. (ET).
L&T-MHPS Boilers Private Ltd (LMB), a joint venture between Larsen & Toubro (L&T) and Japanese Mitsubishi Hitachi Power Systems (MHPS) has secured an order from THDC India Limited, a joint venture of Government of India and Government of Uttar Pradesh. The order has been classified in the range of Rs.2,500- 5,000 crore. (ET).
The shareholders of Heritage Foods Ltd approved 40 per cent dividend for financial year FY19, working out to Rs 2 per share on a face value of Rs 5 per share. (BL).
NMDC Ltd plans to pursue allocation of new iron ore deposits both by participation in auctions and the Government dispensation route, even as it seeks to expand its brownfield mines to increase its production target to 67 million tonnes per annum (MTPA). (ET).
Moving ahead with the resolution plan, the Board of Directors of Dewan Housing Finance Corporation Ltd (DHFL) has approved a proposal to convert the whole or part of its debt into equity shares or other securities, which could “result in a change in ownership of the company”. (ET).
NTPC Ltd has commissioned country’s first ultra-super critical power generation unit having a capacity of 660 MW at Khargone in Madhya Pradesh. (ET).
Integrated steel building solutions provider Everest Industries is looking to tap emerging opportunities in industrial building construction, with the aim of doubling business under the vertical in the next one year. (BL).
Express courier major Blue Dart has announced a near 10 per cent increase in shipment charges from next year. The steep hike, which comes even as policymakers have been claiming falling logistics costs following the implementation of GST and better roads, had to be initiated due to a slew of pressures, including “regulatory costs”, the company said in a statement on Friday. (BL).
Reeling under severe slowdown, Maruti Suzuki India reduced its production by 33.99 per cent in August, making it the seventh straight month that the country’s largest car maker reduced its output. (BS).
A pellet plant under the joint venture between KIOCL and SAIL will be established at the latter’s any one of the five steel plants in the country. In January this year, KIOCL had announced to enter into an agreement with SAIL to set up a pellet plant. (ET).
Bengal and Assam Company Ltd, a promoter of JK Tyre & Industries, has repaid a Rs 200-crore loan from KKR Capital and took control of the shares pledged with the private equity firm. While the first installment of Rs 50 crore was returned on August 20, the remaining principle of Rs 150 crore was returned on August 30. As on date, the entire lot of shares pledged against the sum borrowed from KKR is back with the promoters, the company said in a statement. (ET).
Hinduja Group announced that Vipin Sondhi, who is Managing Director & Chief Executive Officer - India, South East Asia & Pacific of leading construction equipment maker JCB India, will join the Group’s leadership team. (BL).
Economy and Sector News
Omidyar Network India aims to invest $350 million over the next five years through both equity investments as well as grants. In more news, Jet fuel price on Sunday was cut by about 1 per cent to a four-month low on softening international oil prices, according to state-owned fuel retailers. Market-priced or non-subsidised cooking gas (LPG) price was however raised by Rs 15.5 per cylinder, oil firms said in a price notification. Aviation Turbine Fuel (ATF) price in Delhi was cut by Rs 596.62 per kilolitre or 0.9 per cent, to Rs 62,698.86 per kl. This is the third straight monthly price reduction. Jet fuel prices were last cut by 5.8 per cent or Rs 3,806.44 per kl on August 1. (BL).
In another indicator of economic slowdown, GST collection in the month of August dropped below Rs 1 lakh crore mark to Rs 98,202 crore. The tax collection was at Rs 1.02 lakh crore in July this year. The August mop-up was, however, 4.5 per cent higher than the Rs 93,960 crore collected in the same month last year. This is the second time during this year that the revenue collection from the GST has slipped below the Rs 1 lakh crore mark. First, it happened in June when the collection was Rs 99,939 crore. Central GST collections stood at Rs 17,733 crore, State GST Rs 24,239 crore, and Integrated GST Rs 48,958 crore (including Rs 24,818 crore collected on imports) during August this year. Cess collection stood at Rs 7,273 crore (including Rs 841 crore collected on imports). (ET).
The  National Statistical Office (NSO), Ministry of  Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the first quarter (April-June) Q1FY20, both at Constant (2011-12) and Current Prices, along with the corresponding quarterly estimates of expenditure components of the GDP. In the first quarter of the current fiscal, GDP growth slowed to 5% yoy. India's economic growth is also estimated to slow to 6.8% in 2018-19, which is the slowest pace since 2014-15. In more news, India Inc’s foreign borrowings grew over two-fold to USD 4.98 billion in July over the same month a year ago, according to Reserve Bank data. Indian firms had raised USD 2.18 billion in borrowings from overseas markets in July 2018. Of the total money borrowed by the domestic companies, USD 3.37 billion was through the automatic route of external commercial borrowing (ECB), USD 1.56 billion via approval route of ECB and the rest of USD 50.9 million was raised by issuing masala or rupee-denominated bonds. (BL).
India’s fiscal deficit in the four months through July stood at Rs 5.47 lakh cr or 77.8% of the budgeted target for the current fiscal year, as per government data showed on Friday. The deficit during the quarter was 77.8% of the Rs7.03 lakh cr target for FY20. The revenue gap during April-July has been pegged at Rs4.57 lakh cr vs. Rs4.42 lakh cr yoy. Spending during the quarter was at Rs9.47 lakh cr vs. Rs 8.89 lakh cr. Receipts came in at Rs3.97 lakh cr vs. Rs3.49 lakh cr in the comparable period a year ago. The Government of India has received Rs.3,99,673cr (19.19% of corresponding BE 19-20 of Total Receipts) upto July 2019 comprising Rs3,38,705cr Tax Revenue (Net to Centre), Rs43,905cr of Non-Tax Revenue and Rs17,063cr of Non-Debt Capital Receipts. Non Debt Capital Receipts consists of Recovery of Loans (Rs4,705cr) and Disinvestment Proceeds (Rs12,358cr). Total Expenditure incurred by Government of India is Rs9,47,278cr (34.0% of corresponding BE 19-20), out of which Rs8,39,673cr is on Revenue Account and Rs.1,07,605cr is on Capital Account. Out of the Total Revenue Expenditure, Rs1,83,524cr is on account of Interest Payments and Rs.1,69,660cr is on account of Major Subsidies. (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 were closed on Monday for Labour Day holiday. The following numbers are for the previous trading session. The Dow Jones Index closed at 26,403, up 41.03 points by 0.16%. The Standard & Poors 500 index closed at 2,926, up 1.88 points by 0.06%. The Nasdaq Composite Index closed at 7,963, down 10.51 points by 0.13%.

FTSE 100

UK markets racked up strong gains on Monday as sterling slumped amid growing speculation about a general election and following the release of weak manufacturing data. The FTSE 100 index closed at 7,282, up 74.76 points by 1.04%.

Global Indices
30/08/2019 Clsg Chg%
Dow Jones - -
FTSE 100 7,282 +1.04
Bovespa 100,626 -0.50
03/09/2019 Latest
(5:02AM IST)
Nikkei 20,620 -0.41
Hang Seng 25,626 -0.38


Asian shares started trading early on Tuesday morning on a negative note as investors will be watching the US and other global markets closely. Nikkei is currently trading at 20,620, down 84.18 points by 0.41%.

Precious Metals

Gold futures settled lower on Friday to post a loss for the week, but prices tallied a fourth consecutive monthly gain, with investors snapping up the precious metal and other haven assets in August as trade-related tensions stoked worries over global growth.

Base Metals

The three-month nickel price on the London Metal Exchange closed higher on Monday September 2, just above the $18,000 per tonne level, despite losing 4% of morning gains, while tin’s outright price also failed to maintain upward momentum.

Crude Oil

Oil futures settled sharply lower Friday, contributing to a loss for the month, after reports emerged that Russian Energy Minister Alexander Novak said Russia’s oil output cuts in August will be slightly smaller those agreed to under the deal between OPEC and non-OPEC producers.


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