Morning Notes
03rd Dec, 2019
 

Trading Range:

Nifty opened gap up at 12137 on Monday and made a high and low of 12137 and 12024 respectively before closing negative at 12048.

Review/Outlook:

For the day, support for Nifty exists at 11990 and 11940 levels whereas resistance for Nifty stands at 12130 and 12170 levels.

Review/Outlook:

Bank Nifty opened gap down at 32008, made a high of 32024, low of 31721, and closed negative at 31871. 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 40,802 +0.02
Nifty 12,048 -0.07
BSE 200 5,041 -0.11
BSE Midcap 14,968 -0.77
BSE Smallcap 13,508 -0.39
Dow Jones 27,783 -0.96
NASDAQ 8,568 -1.12
 

DERIVATIVES INDICATORS FOR DEC 03, 2019:

NIFTY 12048.20 (-7.85) (-0.07%)
NIFTY DEC FUTURE 12091.45 (43.25 Points Premium)
NIFTY PCR - OI 1.44(-0.10)
NIFTY OPEN INTEREST 1.40Cr. (-0.76%)
INDIA VIX 14.20 (+2.19%)
NIFTY ROLLOVER 3%

NIFTY OPTIONS ACTIVITY (26-DEC SERIES)

CALL 12100 CE +1.64 lac Shares
CALL 12400 CE +1.23 lac Shares
PUT 12000 PE +2.42 lac Shares
PUT 11900 PE +1.48 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,928 -0.94
Bankex 36,164 -0.07
PSU 7,009 -0.91
Healthcare 13,518 -0.62
IT 14,749 -0.85
 
Market Turn Over (`cr)
Index 02/12 29/11
BSE Cash 2,583 4,015
NSE Cash 39,362 43,699
NSE F&O 816,662 778,769
BSE Delivery % 36.49 42.98
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 55.96 +1.43
Gold Rs./ 10 Gms 37952.00 -0.21
Silver Rs./ Kg 44344.00 -0.36
Rs.- US $ 71.67 -0.08
Rs.- Euro 79.39 +0.39
FII (Rs cr )
02/12* 29/11*
FIIs -751.15 +1627.69
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       22,481.00       1,755.51       26,239.00       2,062.39    1,47,131.00     12,561.18    (306.88)
Index Options  24,36,793.00  1,73,817.62  24,42,043.00  1,74,182.29    5,39,852.00     45,325.78    (364.67)
Stock Futures    2,79,822.00     14,829.85    2,52,531.00     12,808.24  15,95,573.00     95,923.09  2,021.61
Stock Options       74,790.00       4,113.47       72,992.00       4,028.44       43,620.00       2,357.41       85.03
Total  28,13,886.00  1,94,516.45  27,93,805.00  1,93,081.36  23,26,176.00  1,56,167.46  1,435.09
Corporate News
More auto companies announced monthly sales numbers for Nov 2019. On a YoY basis, Ashok Leyland recorded decline in sales of 36%, Eicher Motors recorded sales drop of 8% in motorcyle sales and VE Commercial sales fell by 23.9%, Toyota Kirloskar sales dropped by 19%, and TVS Motors recorded 26.52% sales drop, Hero MotoCorp sales fell by 16%, Bajaj Auto sales dropped by 14%, Suzuki Motorcycle India recorded sales rise of 15%. (BL).
The Board of Directors of Cadila Healthcare (CHL) on Monday approved amalgamation of four wholly-owned subsidiaries engaged in manufacturing and marketing of pharma products with the parent. The scheme of amalgamation is for Zydus Technologies (ZTL), Alidac Pharmaceuticals (APL), Liva Pharmaceuticals (LPL) and Dialforhealth India (DHIL) with Cadila Healthcare. (ET).
In a bid to address concerns raised by investors, Raymond Group’s demerged lifestyle business will own the Raymond brand for textile, apparel and retail categories. With this arrangement, Raymond Lifestyle business will not be required to pay a royalty to the parent Raymond Ltd. (BL).
After successfully rolling out a range of neem-based consumer products, state-run fertilisers major Gujarat Narmada Valley Fertilizers & Chemicals Ltd on Friday inaugurated its first Neo Neem World parlour, an exclusive retail outlet for its products. (ET).
Diageo-controlled United Spirits Limited (USL), India’s biggest liquor firm, has proposed a merger with its majority owned and listed subsidiary Pioneer Distilleries Limited (PDL). The maker of Johnie Walker and McDowell whiskey said in a company statement that the amalgamation scheme has been approved at its board meeting. (BL).
Yet another Pratt and Whitney (PW) engine on an Airbus A320 Neo developed a snag after flying from Chennai to Hyderabad on Monday and now needs to be changed. The aircraft (VT-ITC) operated as 6E-6215. Now this engine adds to the long list of over 110 PW engines that IndiGo needs to change on close to the 100 A 320/21 new engine option (Neo) aircraft it has in its fleet by January 31, 2020. (ET).
HDFC Bank’s netbanking website and mobile application remained inaccessible to thousands of customers on Monday due to a ‘technical glitch’ which kept them locked out of their accounts throughout the day. Incidentally, the bank’s mobile application had witnessed a similar crash around the same time last year when a new version of the application couldn’t take the end of the month payday traffic. (ET).
Economy and Sector News
Indian industrial and warehousing sector is expected to see an investment inflow of $3.6 billion, which is likely to touch $7 billion by 2021. This is mainly due to the demand for larger facilities from e-commerce companies, the sector is becoming more organised. In more news, sugar prices ruled steady at all levels on Monday on higher than expected quota for December month at 21.50 lakh tonnes compared with 20.50 lakh tonnes for November and 21 lakh tonnes for October. (BL).
The slowdown is deeper than anticipated and will be prolonged, ratings agency Crisil warned on Monday slashing its growth estimate sharply to a low 5.1 per cent from 6.3 per cent earlier. The agency attributed the sharp revision to various high-frequency indicators showing a softness and partly blamed the same to the reforms like GST, real estate regulation, and the bankruptcy code which are still a “drag” on the economy which is yet to adjust to the changes unveiled years before. The Crisil’s estimate is among the lowest, but still above Japanese brokerage Nomura’s 4.7 per cent forecast. (ET).
Advent International backed Manjushree Technopack (MTL), a rigid plastics packaging company, has acquired National Plastics (NAPLA), a company which makes dispenser and spray systems. This is the first acquisition since Advent acquired majority stake in MTL after its strong presence in rigid plastics packaging, the company now makes foray into a new adjacent category. Through this deal MTL will expand its offerings to clients, by adding adjacent categories like dispensers and sprayers to its existing product portfolio –containers and preforms. In more news, Amatra Hotels and Resorts plans to increase the number of keys in its Indian properties to 250 by the end of this financial year, a top official said. Currently, it has 81 key across two properties – Amatra by the Ganges (Haridwar) and Amatra Dunsvirk Court (Mussoorie). (BL).
Gross direct tax collection increased by 5 per cent till November, Finance Minister Nirmala Sitharaman said on Monday as she allayed fears of corporate tax reduction impacting revenue collection. Replying to a debate on Taxation Law Amendment Bill, 2019 in the Lok Sabha, the minister categorically said there is no decrease in direct tax collection. In fact, there is an increase of 5 per cent in the gross direct tax collection till November this fiscal, she said. (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 saw their biggest one-day fall in nearly eight weeks on Monday, after U.S. manufacturing data showed a continued contraction in November and fresh trade jitters put investors on the defensive. The Dow Jones Index closed at 27,783, down 268.37 points by 0.96%. The Standard & Poors 500 index closed at 3,114, down 27.11 points by 0.86%. The Nasdaq Composite Index closed at 8,568, down 97.48 points by 1.12%.

FTSE 100

UK markets finished the Monday session with moderate losses on the back of uninspiring UK manufacturing figures offset better-than-expected Chinese data, although concerns about Sino-US trade relations also weighed. The FTSE 100 index closed at 7,286, down 60.59 points by 0.82%.

 
 
Global Indices
02/12/2019 Clsg Chg%
Dow Jones 27,783 -0.96
NASDAQ 8,568 -1.12
FTSE 100 7,286 -0.82
Bovespa 108,928 +0.64
03/12/2019 Latest
(4:55AM IST)
Chg%
Nikkei 23,529 +1.01
Hang Seng 26,445 +0.37

Nikkei

Asian stocks started trading early in the morning on Tuesday on a positive note as the investors will be watching the markets closely. Nikkei is currently trading at 23,529, up 235.59 points by 1.01%.

Precious Metals

Gold fell on Monday, pressured by a round of upbeat data on Chinese manufacturing activity, but prices finished above the session’s worst levels as weakness in the U.S. manufacturing index dulled appetite for stocks.

Base Metals

Base metals' three-month prices on the London Metal Exchange were buoyed by a weaker US dollar index, despite negative macro sentiment brought on by weaker-than-expected US data at the close on Monday December 2.

Crude Oil

Oil futures settled higher on Monday, buoyed after signs of a rebound in manufacturing activity in China as well as the potential for OPEC and its allies to agree on deeper production cuts when they meet later this week.

 
 
 

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