Morning Notes
7th Aug, 2019

Trading Range:

Nifty opened gap down at 10815 on Tuesday and made a high and low of 11019 and 10814 respectively before closing positive at 10948.


For the day, support for Nifty exists at 10880 and 10810 levels whereas resistance for Nifty stands at 11020 and 11080 levels.


Bank Nifty opened down at 27518, made a high of 28148, low of 27504, and closed positive at 28022. For the day, support for Bank Nifty exists at 27800 and 27600 levels whereas resistance for Bank Nifty stands at 28200 and 28400 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 36,977 +0.75
Nifty 10,948 +0.79
BSE 200 4,572 +0.91
BSE Midcap 13,569 +1.44
BSE Smallcap 12,495 +1.72
Dow Jones 26,030 +1.21
NASDAQ 7,833 +1.39


NIFTY 10948.25 (+85.65) (+0.79%)
NIFTY AUG FUTURE 10978.65  (30.40 Points Premium)
NIFTY PCR - OI 1.12(+0.11)
NIFTY OPEN INTEREST 2.09Cr. (-0.52%)
INDIA VIX 16.12 (-2.80%)


CALL 11100 CE -0.92 lac Shares
CALL 10900 CE -1.31 lac Shares
PUT 10900 PE +1.47 lac Shares
PUT 10700 PE +3.57 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 15,652 +1.39
Bankex 31,695 +1.44
PSU 6,645 +0.77
Healthcare 12,506 +0.52
IT 15,608 -0.20
Market Turn Over (`cr)
Index 06/08 05/08
BSE Cash 2,644 2,643
NSE Cash 33,029 33,029
NSE F&O 957,213 957,212
BSE Delivery % 39.68 44.39
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 74.26 23.76
BSE 200 79.60 19.40
BSE 500 78.84 20.56
Total BSE 63.64 31.68
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 53.65 +0.04
Gold Rs./ 10 Gms 37497.00 +0.41
Silver Rs./ Kg 42487.00 +0.01
Rs.- US $ 71.06 +0.03
Rs.- Euro 79.66 -0.04
FII (Rs cr )
06/08* 05/08*
FIIs -2170.96 -2889.51
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       74,855.00       5,601.34       82,738.00       6,142.43    2,56,793.00     19,902.61    (541.09)
Index Options  26,03,711.00  1,72,573.48  25,93,781.00  1,71,723.90    7,22,947.00     54,414.86     849.58
Stock Futures    2,38,372.00     13,532.37    2,25,987.00     12,843.07  15,24,591.00     90,031.56     689.30
Stock Options       89,964.00       5,346.03       88,420.00       5,287.72       76,230.00       4,267.44       58.31
Total  30,06,902.00  1,97,053.22  29,90,926.00  1,95,997.12  25,80,561.00  1,68,616.47  1,056.10
Corporate News
Reliance Industries Ltd (RIL) and British oil and gas giant BP Plc will form a new joint venture company to run retail fuel stations and supply aviation fuel, the two companies announced on Tuesday. (BL).
Tata Steel subsidiary TS Global Holdings’ bid to sell-off its struggling overseas subsidiaries Tata Steel (Thailand) Public Company and NatSteel Holdings Pte has hit a roadblock due to delay in getting regulatory approvals. (ET).
The first quarter of 2019-20 brought some cheer to Fortis Healthcare. The company announced a profit after tax of Rs.67.8 crore for the quarter against a loss of Rs.70.8 crore in the first quarter of last year. (BL).
Singapore’s sovereign wealth fund GIC will invest Rs.4,400 crore in a private Infrastructure Investment Trust controlled by IRB Infrastructure Developers Ltd. (ET).
Indian tycoon Subhash Chandras Essel Group is in advanced talks to sell some toll road projects to an arm of the country’ s sovereign wealth fund for about $350 million, according to people familiar with the matter. (ET).
Drug firm Granules India on Tuesday said its US arm has received approval from the USFDA for a generic central nervous system stimulant drug- Amphetamine Sulfate tablets. The US Food & Drug Administration (USFDA) has approved the abbreviated new drug application (ANDA) filed by company’s subsidiary, Granules Pharmaceuticals Inc, for Amphetamine Sulfate tablets USP 5 mg and 10 mg, Granules India said in a filing to BSE. (BL).
The board of Oil and Natural Gas Corporation (ONGC) has offered to help ONGC Petro Additions Ltd (OPAL) raise debt resources of ₹2,680 crore. (BS).
The government will consider GAIL India’s exit application from the ‘port special economic zone (SEZ)’ developed by Cochin SEZ in Puthuvypeen this week and take an “appropriate’’ decision. However, it may reject the request for de-notification of the area, if it goes by the advice of the Development Commissioner (DC) of the zone. (ET).
India’s biggest aluminum producer Vedanta is prioritizing controlling costs as it embarks on expanding capacity, according to the chief executive officer. (BS).
Largest private sector lender HDFC Bank Tuesday has cut its lending rates by 0.10 percent across all tenors, effective Wednesday, sources said. The move comes a day ahead of the policy review by the Reserve Bank, which is reportedly peeved at lenders for not passing on its three consecutive rate cuts of 0.75 percent to the borrowers. (BS).
Corporate Quarterly Earnings
RPG Group IT firm Zensar Technologies reported a net profit of Rs 78.7 crore for the quarter ended 30th June 2019, down 5.8% over the corresponding quarter last year. Revenues for the period were up 20.8 % at Rs 1066.1 crore. Dollar revenue was up 16.4% at $153.3 million, up 18.8% in constant currency terms. Digital revenues have grown 28.3% YoY and now comprise 48.5% of Q1FY20 revenue. (BL).
Aditya Birla Fashion and Retail Limited (ABFRL) has posted a six-fold jump in net profit to Rs 39 crore during quarter ended June due to lower base in the base quarter and higher revenues from premium brands. Net sales rose 8 per cent to Rs 2065 crore during the first quarter. A year ago, it had net profit of Rs 6 crore on revenues of Rs 1914 crore. (ET).
Hinduja Global Solutions (HGS) saw its consolidated net profit expand marginally to Rs 40.4 crore for the quarter ended June 2019 from the year-ago period. The company had registered a net profit of Rs 40.3 crore in April-June, 2018, HGS said in a filing on Monday night. HGS' revenue from operations grew 17.2 per cent to Rs 1,290.5 crore in the quarter under review as against Rs 1,100.8 crore in the year-ago period. Revenue growth in constant currency terms was 15.3 per cent. (ET).
REC Ltd has reported Rs.1,501-crore net profit during the first quarter of the current fiscal. REC Ltd has reported Rs.1,501-crore net profit during the first quarter of the current fiscal. Total income for the quarter under review was at Rs.6,989.19 crore (Rs.6,319.01 crore). (BL).
JSW Energy has reported a 6.5 per cent rise in net profit to Rs.244 crore in the June quarter compared to Rs.229 crore it posted in the same period last year. This improvement largely came due to reduction in finance and fuel costs. Revenues for the Sajjan Jindal Group company came in at Rs.2,412 crore — a 2.2-per cent increase against Rs.2,360 crore it posted in the year-ago period. (ET).
Indiabulls Housing Finance's NII for Q1FY20 has declined by 12.7% qoq to Rs1,475cr against Rs1,690cr in Q1FY19. The housing finance company’s net profit has declined by 24% yoy to Rs802cr. Its GNPA for Q1FY20 stood at 1.47% and NNPA at 1.1%. (ET).
Titan Company reported revenue growth of 15.7% yoy to Rs5,151.1cr. Led by healthy revenue growth, EBITDA grew by 18.8% yoy to Rs573.4cr. EBITDA margin remained flat on yoy basis to 11.1%. However, with increase in depreciation and interest costs, company’s PAT growth was restricted to 10.8% yoy to Rs363.7cr. (ET).
Economy and Sector News
The declining consumption in rural India and the overall slowdown in the economy has led to plummeting year-on-year volume growth for FMCG companies plummeting in the first quarter of this financial year. In more news, A sharp drop in the spot liquified natural gas (LNG) price, coupled with a regulatory order to push green energy in the ceramics industry, has provided the debt-laden State-run Gujarat State Petroleum Corporation Ltd (GSPC) a fresh lease of life. (BL).
Bangalore International Airport Ltd (BIAL), the operator of Kempegowda International Airport in Bengaluru, has achieved  financial closure for its Rs.13,352-crore infrastructure expansion that includes construction of Terminal 2 and associated projects. BIAL has raised Rs.10,206 crore through a syndicate of banks, including State Bank of India and Axis Bank, with the project to be funded in a debt-equity ratio of 80:20. While Axis Bank has advanced Rs.5,106 crore, SBI has sanctioned Rs.5,100 crore for the project that is scheduled  to be completed by mid-2021. (ET).
Tokyo-based Mitsubishi UFJ Financial Group (MUFG) has acquired minority stakes in multiple Indian companies including Tata Global Beverages, Dr Reddy’s, Marico and Godrej Consumer. This follows MUFG’s acquisition of global investment entities such as Uk-based First State Investments, which held shares in the Indian companies. Godrej Consumer Products Ltd said MUFG now owns 5.47 per cent in the company. The Japanese company has increased its stake in Marico Ltd to 6.47 per cent from 0.02 per cent earlier. Pharma major Dr Reddy’s said MUFG has acquired an indirect interest amounting to 8.41 per cent, up from 0.05 per cent stake earlier. MUFG also acquired an indirect interest of 9.93 per cent stake in Tata Global Beverages Ltd. (BL).
CynLr, a robotics deep-tech startup building visual object intelligence for industrial robots, has raised a seed round of funding of ₹5.5 crore from two venture capital investors, Speciale Invest and Arali Ventures, the Centre for Incubation, Innovation and Entrepreneurship (CIIE) of IIM-Ahmedabad, and an individual investory, Dr Vijay Kedai. The vision of the start-up, formerly known as Vyuti Systems Pvt Ltd, is to provide manufacturing companies looking to automate manual labour with a universal machine-vision enabled robot platform that can sense the clutter of the real-world and manipulate objects as well as humans do. (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 higher on Tuesday, bouncing back from their worst day so far this year in the previous session as trade tensions eased somewhat. The Dow Jones Index closed at 26,030, up 311.78 points by 1.21%. The Standard & Poors 500 index closed at 2,882, up 37.03 points by 1.30%. The Nasdaq Composite Index closed at 7,833, up 107.23 points by 1.39%.

FTSE 100

UK markets finished lower on Tuesday with investors treading cautiously even after China moved to stabilise its currency, the yuan, possibly amid worries that the White House might still ratchet up the pressure on Beijing even futher in response to that weakness in the yuan. The FTSE 100 index closed at 7,172, down 52.16 points by 0.72%.

Global Indices
06/08/2019 Clsg Chg%
Dow Jones 26,030 +1.21
NASDAQ 7,833 +1.39
FTSE 100 7,172 -0.72
Bovespa 102,164 +2.06
07/08/2019 Latest
(7:02AM IST)
Nikkei 20,542 -0.21
Hang Seng 25,977 -0.67


Asian shares opened mixed on Wednesday despite U.S. shares clawing back some of Monday’s rout, with traders remaining cautious in the face of deepening trade tensions. American equity futures dropped and Treasury yields steadied. Nikkei is currently trading at 20,542, down 43.29 points by 0.21%.

Precious Metals

Gold added 0.2% to $1,476.72 an ounce on Wednesday.

Base Metals

A recovery in the exchange rate between the Chinese offshore yuan and the US dollar helped to steady base metal futures in London on Tuesday August 6, after heavy losses in preceding days, although the price of copper, the complex leader, remained on a downtrend.

Crude Oil

West Texas Intermediate crude fell 0.4% to $53.44 a barrel on Wednesday.


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