Morning Notes
09th Jan, 2020
 

Trading Range:

Nifty opened gap down at 11939 on Wednesday and made a high and low of 12045 and 11930 respectively before closing negative at 12025.

Review/Outlook:

For the day, support for Nifty exists at 11970 and 11930 levels whereas resistance for Nifty stands at 12100 and 12150 levels.

Review/Outlook:

Bank Nifty opened gap down at 30995, made a high of 31452, low of 30900, and closed negative at 31374. For the day, support for Bank Nifty exists at 31200 and 30900 levels whereas resistance for Bank Nifty stands at 31700 and 31850 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 40,818 -0.13
Nifty 12,025 -0.23
BSE 200 5,028 -0.11
BSE Midcap 14,874 +0.08
BSE Smallcap 13,874 +0.16
Dow Jones 28,745 +0.56
NASDAQ 9,129 +0.67
 

DERIVATIVES INDICATORS FOR JAN 09, 2020:

NIFTY 12025.35 (-27.60) (-0.23%)
NIFTY JAN FUTURE 12063.50 (38.15 Points Premium)
NIFTY PCR - OI 1.25 (+0.06)
NIFTY OPEN INTEREST 1.32 Cr. (+0.53%)
INDIA VIX 15.64 (+7.05%)
NIFTY ROLLOVER 9%

NIFTY OPTIONS ACTIVITY (30-JAN SERIES)

CALL 12000 CE +2.09 lac Shares
CALL 12200 CE -1.01 lac Shares
PUT 12000 PE -2.79 lac Shares
PUT 11800 PE +2.20 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,824 -0.68
Bankex 35,772 +0.03
PSU 6,764 -0.72
Healthcare 13,435 -0.12
IT 15,694 +0.23
 
Market Turn Over (`cr)
Index 08/01 07/01
BSE Cash 3,824 2,756
NSE Cash 32,558 32,664
NSE F&O 1,785,939 1,828,329
BSE Delivery % 41.41 51.32
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 38.61 61.39
BSE 200 45.27 54.23
BSE 500 41.00 58.40
Total BSE 37.41 55.65
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 60.07 +0.77
Gold Rs./ 10 Gms 40110.00 -1.36
Silver Rs./ Kg 47391.00 -1.49
Rs.- US $ 71.56 -0.58
Rs.- Euro 79.53 -1.02
FII (Rs cr )
08/01* 07/01*
FIIs -612.90 -18.99
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       49,229.00       3,652.26       63,120.00       4,866.63    1,46,506.00     12,311.38  (1,214.37)
Index Options  48,86,658.00  3,52,484.17  49,07,276.00  3,54,096.31    7,32,977.00     60,086.58  (1,612.14)
Stock Futures    1,67,089.00     11,338.85    1,59,403.00     10,790.45  14,66,598.00     96,963.25      548.40
Stock Options       58,668.00       4,335.71       58,078.00       4,307.85       56,340.00       3,808.81        27.86
Total  51,61,644.00  3,71,810.99  51,87,877.00  3,74,061.24  24,02,421.00  1,73,170.02  (2,250.25)
Corporate News
Gayatri Projects Ltd (GPL) on Wednesday said it was at an advanced stage of monetising its arbitration awards worth over Rs 900 crore and stressed the proceeds would be used towards de-leveraging the firm. (BL).
Tata Steel on Tuesday said its wholly-owned subsidiary T S Alloys Limited has bagged Saruabil chromite mining block for 50 years. In a regulatory filing, the steel major said a letter of intent as the successful bidder of Saruabil chromite mining block for grant of mining lease for 50 years has been issued by the Odisha government to its subsidiary. (ET).
The Supreme Court on Wednesday issued notice to Adani Enterprises on an appeal by Directorate of Revenue Intelligence (DRI) in a matter connected with the alleged over-invoicing of Indonesian coal imports. A bench headed by Chief Justice S.A. Bobde stayed the Bombay High Court order that quashed letter rogatories (LR) which sought information from foreign countries on the import of coal by Adani. Solicitor General Tushar Mehta appearing for DRI contended before the apex court that the investigation into the matter should continue. The DRI is probing nearly 40 companies for overvaluation of imports. (BL).
To give fillip to the real estate sector, India’s largest lender State Bank of India on Wednesday launched a home buyer finance guarantee scheme under which the lender would refund the entire principal amount if the developer fails to deliver the project within the assured deadline. The refund scheme will be valid till the occupation certificate is procured by the builder. The ‘Residential Builder Finance with Buyer guarantee scheme’ can be availed for projects where the maximum home price is upto Rs 2.5 crores. Developers fulfilling due diligence by the bank can also avail a loan between Rs 50 crores to Rs 400 crores under the scheme. (BL).
The Board of Bharti Airtel has launched a qualified placement of shares worth $2 billion and overseas convertible bond issue for raising another $1 billion. The amount raised will be used for payment of statuary dues and capital expenditure. The company in regulatory statement said that the QIP will be of equity shares of face value of Rs. 5 each. In more news, Jet Airways has received two Expressions of Interest (EoI), Ashish Chhawchharia, the Resolution Professional appointed for the debt-strapped airline informed the Mumbai bench of NCLT during a hearing on Wednesday. (ET).
The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday reported a 7.88 per cent increase in production in December at 1,15,949 units, the second successive month of hike after reducing it for nine months in a row due to demand slump. The company had produced 1,07,478 units in December 2018, Maruti Suzuki India said in a regulatory filing. The biggest hike in production was in the compact segment comprising new WagonR, Celerio, Ignis, Swift, Baleno, OEM Model and Dzire, at 62,448 units as against 44,329 units in the year-ago month, an increase of 40.87 per cent. (ET).
Economy and Sector News
Shriram Properties, Bengaluru-headquartered real estate arm of Chennai-based Shriram Group, has indicated that it will firm up plans to float IPO (initial public offer) after the forthcoming Union Budget. The company is proposing to raise funds in the range of Rs.750-800 crore. It has obtained regulator’s nod to launch its IPO and has time till April this year. In more news, Following repeated demands from solvent processors to protect the interests of domestic refiners, the Centre on Wednesday placed restrictions on the imports of refined palm oils. A notification by the Directorate General of Foreign Trade (DGFT) stated that the government amended its import policy for refined bleached deodorised palm oil (RBD Palm Oil and RBD Palmolein) from current status of ‘free’ to ‘restricted’. The decision applies to RBD Palm Oil and RBD Palmolein imports under the HS code of 15119010 and 15119020 category. (BL).
State Bank of India’s economic research department has cut its projection for gross domestic product (GDP) for FY20 to 4.6 per cent, based on current available trends, against 5 per cent projected earlier, even as it assessed that India could be now staring at a sub-6-per-cent growth for two successive years. The FY20 GDP estimate, as released by the Central Statistical Organisation (CSO), has pegged the GDP growth rate at 5 per cent, an 11-year low. In more news, The cabinet on Wednesday decided to do away with end use restrictions to participate in coal mine auctions. This is being viewed as a precursor for the commercial coal mining auctions that the centre plans to conduct soon. The cabinet also decided to automatically transfer environment and forest clearances for iron-ore mines being auctioned. These relaxations were enabled through an Ordinance to introduce Amendments to the Mines and Minerals (Development and Regulation) Act 1957 (MMDR Act) and the Coal Mines (Special Provisions) Act, 2015 (CMSP Act). (ET).
Mantra Capital, which focuses on early-stage investments into startups, has announced a $60-million venture capital fund. It is targeting to invest $5,00,000 to $2 million in startups that have raised seed fund and have begun to tap pre-Series-A funds. In more news, The telecom industry recorded a near 4.6% sequential dip in adjusted gross revenue (AGR) in the July-September period, in a seasonally weak quarter, further hit by the shutdown of mobile services in J&K, data collated by the telecom regulator showed. Reliance Jio was the only Big 3 telco to further consolidate its lead over the two older carriers – Bharti Airtel and Vodafone Idea – on AGR. Jio’s AGR rose 6.75% quarter-on-quarter to Rs 11,528.95 crore in the July-September period. By contrast, Airtel and Vodafone Idea reported 2.32% and 6.86% sequential falls in their September quarter AGR to Rs 7,295.03 crore and Rs 6,260.22 crore respectively, having lost revenue in key markets, according to quarterly performance report released by the Telecom Regulatory Authority of India (TRAI) on Wednesday. Gross Revenue (GR) for the industry, which included revenue on account of interest, dividend and supplementary services before the October Supreme Court order, also declined by 2.15% to Rs 59,992 crore for quarter ending September 2019, TRAI report showed. (BL).
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval to the North East Gas Grid project of Indradhanush Gas Grid Limited with viability Gap Funding/ Capital Grant at 60% of the estimated cost of Rs9,265cr (Including interest during construction). Quantum of VGF would be capped at 60% of estimated project cost and would not be linked with upward capital cost variation. MoPNG shall identify milestones for major activities for this project and link the same for releases of the capital grant of the project, as per Ministry of Petroleum & Natural Gas. In more news, The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Narendra Modi has given 'in principle' approval for strategic disinvestment of equity shareholding of Minerals & Metals Trading Corporation Limited (MMTC) (49.78%), National Mineral Development Corporation (NMDC) (10.10%), MECON (0.68%) and Bharat Heavy Electricals Ltd. (BHEL) (0.68%) and two Odisha State Government PSUs namely; Industrial Promotion and Investment Corporation of Odisha Ltd.(IPICOL) (12%) and Odisha Mining Corporation (OMC) (20.47%) in Neelachal Ispat Nigam Limited (NINL) to a strategic buyer, identified through a two-stage auction procedure. NINL is a Joint Venture company, in which four CPSEs namely MMTC, NMDC, BHEL and MECON and 2 State PSUs of Odisha Government, namely IPICOL and OMC are shareholders. The proposed strategic disinvestment of NINL would unlock resources to be used to finance the social sector/developmental programmes of the Government benefiting the public, the Ministry of Finance 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 closed higher on Wednesday despite news that Iran had fired rockets at two Iraqi bases hosting American troops, albeit without killing any servicemen. The Dow Jones Index closed at 28,745, up 161.41 points by 0.56%. The Standard & Poors 500 index closed at 3,253, up 15.87 points by 0.49%. The Nasdaq Composite Index closed at 9,129, up 60.66 points by 0.67%.

FTSE 100

UK markets finished on a mixed note on Wednesday as Iran's retaliation in its escalating confrontation with the US did not claim the lives of any more American or Iraqi servicemen, with Washington limiting its response to additional economic sanctions. The FTSE 100 index closed at 7,575, up 1.08 points by 0.01%.

 
 
Global Indices
08/01/2019 Clsg Chg%
Dow Jones 28,745 +0.56
NASDAQ 9,129 +0.67
FTSE 100 7,575 +0.01
Bovespa 116,247 -0.36
09/01/2020 Latest
(6:08AM IST)
Chg%
Nikkei 23,577 +1.60
Hang Seng 28,088 -0.83

Nikkei

Asian markets started trading early in the morning on Thursday on a positive note as the investors watch the US markets closely. Nikkei is currently trading at 23,577, up 371.82 points by 1.60%.

Precious Metals

Gold futures settled with a loss on Wednesday on the heels of 10 consecutive session gains.

Base Metals

The three-month zinc price on the London Metal Exchange settled at a two-month high at the close of trading on Wednesday January 8, climbing by just under 2% and breaching the $2,400-per-tonne resistance level against the highest daily trading volumes since September 2019.

Crude Oil

Oil prices plunged on Wednesday after President Donald Trump said he believed Tehran was “standing down” from its retaliation after the U.S. killed a top Iranian general on Thursday.

 
 
 

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