Morning Notes
09th Dec, 2019

Trading Range:

Nifty opened gap up at 12047 on Friday and made a high and low of 12057 and 11889 respectively before closing negative at 11922.


For the day, support for Nifty exists at 11880 and 11790 levels whereas resistance for Nifty stands at 12000 and 12150 levels.


Bank Nifty opened gap up at 31797, made a high of 31884, low of 31251, and closed negative at 31342. For the day, support for Bank Nifty exists at 31200 and 31000 levels whereas resistance for Bank Nifty stands at 31500 and 31700 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 40,445 -0.82
Nifty 11,922 -0.81
BSE 200 4,974 -0.90
BSE Midcap 14,667 -1.26
BSE Smallcap 13,339 -0.86
Dow Jones 28,015 +1.22
NASDAQ 8,657 +1.00


NIFTY 11921.50 (-96.90) (-0.81%)
NIFTY DEC FUTURE 11955.70 (34.20 Points Premium)
NIFTY PCR - OI 1.25(-0.29)
NIFTY OPEN INTEREST 1.39 Cr. (+2.31%)
INDIA VIX 13.64 (-4.65%)


CALL 12000 CE +3.69 lac Shares
CALL 12100 CE +3.38 lac Shares
PUT 11800 PE +1.38 lac Shares
PUT 11700 PE +0.73 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,493 -1.78
Bankex 35,751 -1.10
PSU 6,731 -2.36
Healthcare 13,349 -0.92
IT 15,176 -0.13
Market Turn Over (`cr)
Index 06/12 05/12
BSE Cash 1,767 2,075
NSE Cash 33,124 34,089
NSE F&O 1,003,596 3,097,947
BSE Delivery % 40.97 38.84
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 15.84 84.16
BSE 200 17.91 82.09
BSE 500 21.60 78.40
Total BSE 32.19 60.98
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 59.20 +1.32
Gold Rs./ 10 Gms 37699.00 -1.01
Silver Rs./ Kg 43545.00 -2.39
Rs.- US $ 71.29 +0.07
Rs.- Euro 78.81 -0.39
FII (Rs cr )
06/12* 05/12*
FIIs +437.41 +195.45
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       41,494.00       3,201.81       37,698.00       2,961.33    1,56,471.00     13,154.97     240.48
Index Options  30,91,555.00  2,22,457.43  30,60,173.00  2,19,751.75    5,74,994.00     47,807.23  2,705.68
Stock Futures    2,01,018.00     11,817.55    2,07,910.00     12,172.13  15,91,527.00     94,155.61    (354.58)
Stock Options       70,555.00       4,693.01       71,401.00       4,751.50       57,293.00       3,253.62      (58.49)
Total  34,04,622.00  2,42,169.80  33,77,182.00  2,39,636.71  23,80,285.00  1,58,371.43  2,533.09
Corporate News
Maruti Suzuki India (MSI) increased its production in November by 4.33 per cent, after having reduced output for nine straight months due to lower demand. The company produced a total of 1,41,834 units in November as against 1,35,946 units in the year-ago month, MSI said in a regulatory filing. Passenger vehicles’ production last month stood at 1,39,084 units as against 1,34,149 units in November 2018, an increase of 3.67 per cent, it added. (BL).
NTPC has signed a term loan agreement for Rs.5,000 crore with State Bank of India. A company statement said that the loan facility has been extended at an interest rate linked to 3-month MCLR of the bank and has a door-to-door tenure of 15 years. The loan will be utilised to part finance the capital expenditure of NTPC. (ET).
Diversified agri business company Godrej Agrovet Ltd (GAVL) is expecting 14-15 per cent growth in topline this fiscal primarily backed by value growth in its animal feed business. The company’s topline grew by around 12 per cent to close to Rs.5,900 crore in FY19. According to Balram Singh Yadav, Managing Director, Godrej Agrovet, the growth in turnover would also be supported by better performance in some of its verticals including agro chemicals and dairy businesses. In more news, Godrej Appliances is working on a new technology to reduce energy consumption by 80 per cent for its air conditioners (ACs), as part of a competition instituted by a coalition of the Government of India and Rocky Mountain Institute (RMI), for which the company has emerged as one of the eight finalists. (BL).
Even as the company moots ‘One City One Operator’ concept for sewage treatment projects, VA Tech WABAG, a prominent player in water treatment projects, hopes to get back to growth path from this fiscal after a blip last year. (ET).
Coal India, the world’s largest miner, plans to give 10-15 days credit period to companies operating in the non-regulated sectors such as steel, cement, and aluminium. These companies, which are called customers in Coal India parlance, had to make an upfront payment before despatch. (BL).
Vodafone Idea’s financial position is so precarious that it will be forced to shut operations if the Centre does not offer a fiscal package for the telecom sector. Speaking at a media event in New Delhi, Kumar Mangalam Birla, Chairman, Vodafone Idea, said "I think we can expect much more stimulus from the government because it is required for the sector to survive. If we weren’t getting anything, then I think, it is the end of the story for Vodafone Idea". (BL).
KEC International, an RPG Group company, has bagged new orders worth Rs.1,025 crore across its Railways, Transmission & Distribution (T&D) and Cables businesses. The infrastructure EPC contractor has won orders worth Rs.750 crore for T&D projects in India. This includes a 765 kV GIS substation order from a Power Grid Corporation of India (PGCIL) entity under the tariff-based competitive bidding (TBCB) route in western India, the company said in a statement. (BL).
Almost a year after it was first approved, JSW Steel inched closer to acquiring Vardhman Industries (VIL) in the insolvency driven process as the National Company Law Appellate Tribunal ruled in favour of the company. (ET).
Pennar Industries Limited, a leading value-added engineering products and solutions company today announced that it has bagged orders worth Rs.302 crore across its business verticals during the month of November 2019. (ET).
Dr. Reddy’s Laboratories Ltd has launched Deferasirox Tablets for Oral Suspension, a therapeutically equivalent generic version of Exjade (deferasirox) tablets for oral suspension, approved by the US Food and Drug Administration (USFDA). (ET).
KNR Construction will be in foucs as the co has signed a concession agreement of HAM project with a bid cost of Rs 920 crore with NHAI. Also, the company has received orders worth of Rs. 165.68 Crores from Greater Hyderabad Municipal Corporation (GHMC)(BQ).
Dish TVCare Ratings has cut ratings for the company’s banking facilities worth Rs 850 crore to CARE D from CARE A4+. Rating revised after the company defaulted in payment of short-term loan due on Nov.28(BQ).
Economy and Sector News
A significant increase in wheat planting reported from Madhya Pradesh and Rajasthan this week has helped overall rabi sowing to surpass the area covered during the corresponding week last year, according to data released by the Agriculture Ministry on Friday. As against 413 lakh hectares (LH) sown in the same week in the previous year, farmers across the country covered 418 lh, an increase of 1.24 per cent year-on-year. In more news, India Inc’s foreign borrowings grew over two-fold to USD 3.41 billion in October over the corresponding month a year ago, according to data from the Reserve Bank of India. Indian companies had raised USD 1.41 billion in borrowings from overseas markets in October 2018. Of the total money borrowed by the domestic companies, USD 2.87 billion was through the automatic route of external commercial borrowing (ECB), USD 538 million came in through the approval route of ECB, showed the data. (BL).
Renascent Power Ventures has acquired a 75 per cent equity stake in Prayagraj Power Generation Company. This transaction is the result of stressed asset resolution process initiated by the lenders through a competitive process, the company said in a statement. Renascent is a wholly-owned subsidiary of Resurgent Power Ventures Pte Limited--a joint venture between Tata Power International Pte Ltd, ICICI Ventures and other global investors. In more news, China’s crackdown on illegal meat imports has left India, one of the biggest exporters of buffalo meat, scrambling for a new buyer. China has adopted stricter border controls due to African swine fever, meaning Indian buffalo meat exports into China that usually flow through Vietnam has all but stopped. (ET).
The Special Window for Affordable and Mid-Income Housing Fund (SWAMIH) Investment Fund I, sponsored by the Government of India for providing last-mile funding to enable completion of construction of stalled housing projects, has achieved  its first closing at Rs 10,530 crore. In more news, As many as 373 infrastructure projects, each worth Rs 150 crore or more, are hit by cost overruns of more than Rs 3.89 lakh crore owing to delays and other reasons, according to a report. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of such 1,634 projects, 373 projects reported cost overruns and 552 projects time escalation. Total original cost of implementation of the 1,634 projects was Rs 19,40,699.03 crore and their anticipated completion cost is likely to be Rs 23,29,746.02 crore, which reflects overall cost overruns of Rs 3,89,046.99 crore (20.05 per cent of original cost). (BL).
Saudi Aramco raised $25.6 billion from the world’s biggest initial public offering, closing a deal that became synonymous with the kingdom’s controversial crown prince and his plans to reshape the oil-rich nation. The state-owned oil giant set the final price of its shares at 32 riyals ($8.53), valuing the world’s most profitable company at $1.7 trillion. It received total bids of $119 billion. In more news, On December 6, 2019, Indian Oil Corporation Limited and Can Fin Homes Limited have made an application to list Commercial Paper at BSE for an Issue Size of Rs4,370cr and Rs300cr respectively. Post-process, the effective date of listing for the same at BSE is December 09, 2019. (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 Friday following the release of a key monthly jobs report that easily topped expectations on the Street. The Dow Jones Index closed at 28,015, up 337.27 points by 1.22%. The Standard & Poors 500 index closed at 3,146, up 28.48 points by 0.91%. The Nasdaq Composite Index closed at 8,657, up 85.83 points by 1.00%.

FTSE 100

UK markets pared their weekly loss on Friday thanks to signs of progress in Sino-US trade relations and the release of data showing US unemployment back again at 50-year lows last month. The FTSE 100 index closed at 7,240, up 101.81 points by 1.43%.

Global Indices
06/12/2019 Clsg Chg%
Dow Jones 28,015 +1.22
NASDAQ 8,657 +1.00
FTSE 100 7,240 +1.43
Bovespa 111,126 +0.46
09/12/2019 Latest
(4:48AM IST)
Nikkei 23,419 +0.28
Hang Seng 26,498 +1.07


Asian stocks kicked off the week on Monday with modest gains after U.S. equities rallied Friday on better-than-expected jobs data. Treasuries stabilized after declines. Nikkei is currently trading at 23,419, up 64.73 points by 1.07%.

Precious Metals

Gold was little changed at $1,460.72 an ounce on Monday.

Base Metals

Tin ended higher on the London Metal Exchange on Friday December 6, closing above $17,000 per tonne for the first time since September.

Crude Oil

West Texas Intermediate crude dipped 0.5% to $58.88 a barrel on Monday.


Retail Research Desk:

Akhil Rathi D: 91 22 2858 3210
Hrishikesh Yedve D: 91 22 2858 3207
Neeraj Sharma D: 91 22 2858 3208
Rohan Gawale D: 91 22 2858 3213

Karan Desai D: 91 22 2858 3221

Research Analyst Registration Number:
CIN: U65990MH1993PLC075388


Follow us on:


Information pertaining to Asit C. Mehta Investment Interrmediates Limited (ACMIIL): ACMIIL is a SEBI registered Stock Broker, Merchant Banker and Depository Participant. It is also a AMFI registered Mutual Fund Distributor. It does not have any disciplinary history. Its associate/group companies are Asit C. Mehta Commodity Services Limited, Asit C. Mehta Realty Services Pvt. Ltd, Asit C. Mehta Forex Pvt. Ltd, Nucleus IT Enabled Services , Asit C. Mehta Financial Services Limited (all providing services other than stock broking and merchant banking).

ACMIIL/its associates and its Research analysts have no financial interest in the companies covered on the report. ACMIIL/ its associates and Research analysts did not have actual/beneficial ownership of one per cent or more in the companies being covered at the end of month immediately preceding the date of publication of the research report. ACMIIL/its associates or Research analysts have no material conflict of interest, have not received any compensation/benefits for any reason (including investment banking/merchant banking or brokerage services) from either the companies concerned/third parties with respect to the companies covered in the past 12 months. ACMIIL/its associates and research analysts have neither managed or co-managed any public offering of securities of the companies covered nor engaged in market making activity for the companies being covered. Further, the companies covered neither are/nor were a client during the 12 months preceding the date of the research report. Further, the Research analyst/s covering the companies covered herein have not served as an officer/director or employee of the companies being covered.

This report is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon such. ACMIIL or any of its affiliates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in the report. To enhance transparency we have incorporated a Disclosure of Interest Statement in this document. This should however not be treated as endorsement of the views expressed in the report.