Morning Notes
04th Sep, 2019
 

Trading Range:

Nifty opened gap down at 10961 on Tuesday, made a high and low of 10968 and 10773 respectively before closing negative at 10798.

Review/Outlook:

For the day, support for Nifty exists at 10740 and 10670 levels whereas resistance for Nifty stands at 10870 and 10940 levels.

Review/Outlook:

Bank Nifty opened gap down at 27239, made a high of 27247, low of 26743, and closed negative at 26824. For the day, support for Bank Nifty exists at 26600 and 26400 levels whereas resistance for Bank Nifty stands at 27000 and 27200 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 36,563 -2.06
Nifty 10,798 -2.04
BSE 200 4,517 -2.00
BSE Midcap 13,246 -1.65
BSE Smallcap 12,369 -1.32
Dow Jones 26,118 -1.08
NASDAQ 7,874 -1.11
 

DERIVATIVES INDICATORS FOR SEP 04, 2019:

NIFTY 10,797.90 (-225.35) (-2.04%)
NIFTY SEP FUTURE 10836.40 (38.50 Points Premium)
NIFTY PCR - OI 1.04(-0.34)
NIFTY OPEN INTEREST 1.86Cr. (+2.50%)
INDIA VIX 18.05 (10.89%)
NIFTY ROLLOVER 4%

NIFTY OPTIONS ACTIVITY (26-SEP SERIES)

CALL 10900 CE +4.33 lac Shares
CALL 10800 CE +2.63 lac Shares
PUT 10800 PE +2.49 lac Shares
PUT 10700 PE +1.04 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 15,509 -1.64
Bankex 30,197 -2.43
PSU 6,192 -2.48
Healthcare 12,772 -0.80
IT 16,146 -0.02
 
Market Turn Over (`cr)
Index 03/09 30/08
BSE Cash 1,822 2,169
NSE Cash 28,313 35,656
NSE F&O 931,078 928,907
BSE Delivery % 39.20 40.73
Advances / Declines BSE Cash
Adv(%) Dec(%)
BSE 100 9.90 90.10
BSE 200 14.93 85.07
BSE 500 18.36 81.04
Total BSE 30.64 62.77
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 53.95 +0.02
Gold Rs./ 10 Gms 39680.00 +1.52
Silver Rs./ Kg 49678.00 +4.16
Rs.- US $ 72.21 +0.35
Rs.- Euro 79.25 +0.43
FII (Rs cr )
03/09* 30/08*
FIIs +574.82 -627.22
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       59,747.00       4,239.87       55,462.00       4,026.35    1,73,323.00     13,305.47     213.52
Index Options  24,45,535.00  1,60,228.92  24,27,239.00  1,59,088.58    7,18,044.00     54,144.94  1,140.34
Stock Futures    1,96,117.00     10,426.94    2,13,260.00     11,330.63  15,01,456.00     86,582.57    (903.69)
Stock Options       82,380.00       4,602.11       81,954.00       4,580.57       46,151.00       2,569.59       21.54
Total  27,83,779.00  1,79,497.84  27,77,915.00  1,79,026.13  24,38,974.00  1,56,602.57     471.71
Corporate News
TVS Motor Co on Tuesday reported a 15.37 per cent decline in total sales in August at 2,90,455 units. The company, which primarily makes two-wheelers and three-wheelers, had sold 3,43,217 units in the same month last year, TVS Motor Company said in a statement. Total two-wheeler sales during the month stood at 2,75,851 units as against 3,30,076 units in August 2018, down 16.42 per cent. In more news, Bajaj Auto on Tuesday reported 11 per cent fall in total sales at 3,90,026 units in August. The company had sold 437,092 units in the same month a year ago. Domestic sales in August this year stood at 2,08,109 units as against 2,55,631 units, down 19 per cent, Bajaj Auto said in a regulatory filing. (BL).
Sterling Holidays has announced the launch of its new property in Guruvayur. The launch comes after Sterling’s big announcement on expanding its footprint, through a 6-resort launch, pan-India. (ET).
Maruti Suzuki India on Tuesday said it has emerged a leader by achieving milestone of one-million utility vehicles (UVs) cumulative sales. (BL).
Larsen and Toubro (L&T) on Tuesday said its construction arm has bagged the contract for construction of the Navi Mumbai International Airport. (ET).
Reliance Power signed a partnership agreement with JERA, one of the largest power utilities of Japan, for jointly setting up 750 MW gas-based combined cycle power project (Phase-1) at Meghnaghat, Bangladesh. Reliance Power will hold 51 per cent stake while JERA will hold 49 per cent stake in the joint venture company. (ET).
Public sector mining major NMDC has revoked the termination of a major contract it had awarded to BHEL relating to its upcoming steel plant in Chhattisgarh. The contract relates to the construction of a Raw Material Handling System at NMDC's under construction Integrated Steel Plant, Nagarnar, Bastar district of Chhattisgarh. This was being executed by BHEL-ISG Bengaluru division. (ET).
Indian Hotels Company Ltd (IHCL) is in talks with other Tata Group entities, including Tata Power, to convert their guest houses to homestays under its newly created brand Ama Trails and Stays. The target is to reach 100 homestay properties. (BL).
The Supreme Court on Tuesday sought response from the National Buildings Construction Corporation Limited (NBCC) on whether it is willing to give a revised proposal to complete the stalled projects of Jaypee Group. A bench of justices A M Khanwilkar and Dinesh Maheshwari issued notice to the NBCC and sought its reply by Thursday. (ET).
Tata Steel Europe has announced plans to close operations at its subsidiary Orb Electrical Steels in Newport, South Wales, and at the Wolverhampton Engineering Steels Service Centre in the UK, leading to a potential loss of 406 jobs. On Tuesday, Tata Steel shares fell 4 per cent on the BSE to Rs,331. (ET).
Ashok Leyland Ltd has said that it will be the first Indian original equipment manufacturer (OEM) to meet the BS-VI emission norms for all its heavy-duty trucks. The company said it becomes the first Indian OEM to meet the BS-VI emission norms across the full range of heavy duty trucks – Gross Vehicle Weight (GVW) 16.2 tonnes and above, according to company's release. (ET).
Economy and Sector News
Telangana is on course to achieving 5 Giga Watts (GW) of renewable energy capacity by next year, and the state plans to come out with a tender for setting up of about 1000 MW (1 GW) of solar power generation capacity. In more news, Fitch Solutions Macro Research on Tuesday said it has lowered its 2019 global steel price forecast as global prices continue to be hammered by poor sentiment amid ongoing United States (US)-China trade tensions and increasing downside risks to the global economy. (BL).
Petronet LNG Ltd (PLL), India’s biggest importer of liquefied natural gas(LNG), will take a 26 per cent stake in a planned 1 million tonne (mt) capacity terminal for import and re-gasification of the super cooled fuel. This terminal will be helmed by Bharat Petroleum Corporation Ltd (BPCL) at Krishnapatnam port in Andhra Pradesh’s Nellore district. In more news, Reflecting the slowdown in the economy, the results of a private survey presented a dismal picture of the manufacturing sector on Monday. Manufacturing has a 17 per cent share in GDP (Gross Domestic Product). The survey, known as the Manufacturing Purchasing Sectors’ Index (PMI), is conducted by IHS Markit. It slipped to 51.4 in August from 52.5 in July. Though still in expansion mode, the index has fallen to its lowest since May 2018. (ET).
The Centre on Tuesday increased the prices of different grades of ethanol under the Ethanol Blended Petrol (EBP) Programme for the forthcoming 2019-20 sugar season. The Cabinet Committee on Economic Affairs on Tuesday gave its nod for the decision. The price of ethanol derived from the C-heavy molasses route has been increased to Rs.43.75 a litre from Rs.43.46. That from the B-heavy molasses route has been hiked to Rs.54.27 a litre from Rs.52.43. Ethanol from sugarcane juice/sugar/sugar syrup route has been fixed at Rs.59.48 a litre from Rs.59.19. The revised prices will be applicable during the ethanol supply year from December 1, 2019 to November 30, 2020. In more news, The Centre on Tuesday increased the prices of different grades of ethanol under the Ethanol Blended Petrol (EBP) Programme for the forthcoming 2019-20 sugar season. The rupee on Tuesday cracked 99 paise to the 72.39 level against the US dollar on weak macroeconomic data and sustained outflows by foreign portfolio investors (FPI). Foreign investors offloaded a net amount of Rs 5,920 crore from the domestic capital markets in August even as the government rolled back enhanced surcharge on FPIs last week. In July, they had pulled out a net of Rs 2,985.88 crore from Indian stocks. (BL).
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Infusion of Rs4,557cr by Government in IDBI Bank. It will help in completing the process of IDBI Bank’s turnaround and enable it to return to profitability and normal lending and giving Government the option of recovering its investment at an opportune time. In more news, with the objective of achieving the real goals of the ambitious Blue Revolution project, the Union Government has lined up Rs25,000 crore investments in different sectors of fisheries in the next three to five years. (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 sharply lower on Tuesday following the Labor Day break after the latest round of US-China trade tariffs kicked-in over the weekend. The Dow Jones Index closed at 26,118, down 285.26 points by 1.08%. The Standard & Poors 500 index closed at 2,906, down 20.19 points by 0.69%. The Nasdaq Composite Index closed at 7,974, down 88.72 points by 1.11%.

FTSE 100

UK markets dipped on Tuesday even as the pound continued to languish near its post-referendum lows ahead of a key vote scheduled for later in the session in Parliament to try and force the government to ensure that it would not risk a 'no deal' Brexit. The FTSE 100 index closed at 7,268, down 13.75 points by 0.19%.

 
 
Global Indices
03/09/2019 Clsg Chg%
Dow Jones 26,118 -1.08
NASDAQ 7,874 -1.11
FTSE 100 7,268 -0.19
Bovespa 99,681 -0.94
04/09/2019 Latest
(6:47AM IST)
Chg%
Nikkei 20,578 -0.23
Hang Seng 25,528 -0.39

Nikkei

Asian stocks dipped early Wednesday after poor U.S. economic data stoked global recession fears and further soured investor sentiment already hurt by heightened trade war concerns. Nikkei is currently trading at 20,578, down 47.57 points by 0.23%.

Precious Metals

Gold futures rallied back to their highest level in more than six years on Tuesday, as a decline in August U.S. manufacturing contributed to worries about the domestic economy.

Base Metals

The three-month lead price on the London Metal Exchange showed the greatest losses at the close of trading on Tuesday September 3, falling by some 1.6% to close at its lowest level since August 6.

Crude Oil

U.S. crude oil futures CLc1 dipped 0.04% to $53.92 per barrel on Wednesday, adding to the previous day’s losses. The contracts had shed more than 2% on Tuesday after the weak U.S. ISM data raised concerns about a weakening global economy.

 
 
 

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