Morning Notes
09th Sep, 2019
 

Trading Range:

Nifty opened gap up at 10884 on Friday and made a high and low of 10957 and 10867 respectively before closing positive at 10946.

Review/Outlook:

For the day, support for Nifty exists at 10880 and 10790 levels whereas resistance for Nifty stands at 11010 and 11100 levels.

Review/Outlook:

Bank Nifty opened gap up at 26986, made a high of 27311, low of 26950, and closed positive at 27248. For the day, support for Bank Nifty exists at 27100 and 26900 levels whereas resistance for Bank Nifty stands at 27500 and 27700 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 36,982 +0.92
Nifty 10,946 +0.91
BSE 200 4,574 +0.80
BSE Midcap 13,365 +0.61
BSE Smallcap 12,595 +0.79
Dow Jones 26,797 +0.26
NASDAQ 8,103 -0.17
 

DERIVATIVES INDICATORS FOR SEP 09, 2019:

NIFTY 10946.20 (+98.30) (+0.91%)
NIFTY SEP FUTURE 10973.65 (27.45 Points Premium)
NIFTY PCR - OI 1.31(+0.06)
NIFTY OPEN INTEREST 1.84Cr. (-1.81%)
INDIA VIX 16.27 (-5.78%)
NIFTY ROLLOVER 5%

NIFTY OPTIONS ACTIVITY (26-SEP SERIES)

CALL 11100 CE -2.75 lac Shares
CALL 11000 CE -2.04 lac Shares
PUT 10800 PE +0.86 lac Shares
PUT 10900 PE +2.02 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 15,959 +2.54
Bankex 30,638 +1.32
PSU 6,480 +1.03
Healthcare 12,952 +0.29
IT 16,254 +0.15
 
Market Turn Over (`cr)
Index 06/09 05/09
BSE Cash 1,764 6,939
NSE Cash 29,344 28,996
NSE F&O 643,321 2,649,217
BSE Delivery % 39.83 35.79
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 74.26 25.74
BSE 200 70.15 29.85
BSE 500 68.86 30.14
Total BSE 59.29 35.14
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 56.92 +0.71
Gold Rs./ 10 Gms 38553.00 -0.88
Silver Rs./ Kg 47885.00 -3.18
Rs.- US $ 71.65 -0.47
Rs.- Euro 79.11 -0.40
FII (Rs cr )
06/09* 05/09*
FIIs -415.56 -1260.07
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       43,155.00       3,009.00       38,715.00       2,700.46    1,63,830.00     12,462.55     308.54
Index Options  19,44,358.00  1,26,627.80  19,21,913.00  1,25,226.55    7,17,052.00     55,306.50  1,401.25
Stock Futures    1,96,915.00     10,771.57    2,08,292.00     11,146.39  15,09,262.00     88,633.23    (374.82)
Stock Options       83,582.00       4,685.26       82,278.00       4,571.41       60,480.00       3,396.31     113.85
Total  22,68,010.00  1,45,093.63  22,51,198.00  1,43,644.81  24,50,624.00  1,59,798.59  1,448.82
Corporate News
The National Company Law Tribunal, Hyderabad, has admitted the Insolvency Petition against KSK Energy Ventures Limited and appointed an Insolvency Professional. IFCI had filed a petition for Corporate Insolvency Resolution Process before the NCLT-Hyderabad under Section 7 of the Insolvency and Bankruptcy Code 2016. (BL).
The Board of Ultratech Cement, Aditya Birla Group’s flagship company, has undergone restructuring. Kailash Chandra Jhanwar, the current whole-time director, has been appointed as the managing director of the company with effect from January 1, 2020. (ET).
The National Company Law Tribunal (NCLT) has barred State Bank of India from selling oversees oil and gas assets of debt-laden Videocon Group outside the ongoing insolvency process. (BL).
Kauvery Hospital announced that it has raised Rs.140 crore in equity funding from LGT Lightstone Aspada. In a press statement, the healthcare provider said that the proceeds of the funding will be used to deepen Kauvery’s presence in Tamil Nadu and expand its footprint across South India. (ET).
Farm equipment major Escorts on Friday unveiled the concept of hybrid tractor, backhoe loader and a rural transport vehicle. The company, which showcased the products at its annual innovation platform Exclusive 2019, said the tractor could run both on fuel and battery. (ET).
Suzlon Energy withdrew an offer to repay about Rs.8,500 crore ($1.2 billion) to lenders after Vestas Wind Systems A/C, which was backing the proposal, pulled out of the debt-resolution plan. (BL).
The carmaker Maruti Suzuki India on Friday asked the components makers to start manufacturing vehicle electronics and certain key parts in India in order to cut imports of such articles. The local manufacturing of such parts would not only help Maruti Suzuki India (MSI), but also support the government’s Make in India initiative, MSI MD and CEO Kenichi Ayukawa said while speaking at the ACMA annual convention here. (ET).
Sun Pharmaceutical Industries Ltd said that it is undergoing a forensic audit of its financial statements as ordered by the Securities and Exchange Board of India (SEBI). (ET).
Jet Airways founder Naresh Goyal was on Friday questioned here by the Enforcement Directorate in a case of alleged contravention of the foreign exchange law, officials said. (BL).
State-run engineering firm BHEL on Friday said that it has bagged an order worth Rs 450 crore for supply and installation of emission control equipment for a Bhilai expansion power project in Chhattisgarh. (ET).
Upbeat over the positive results shown by AstraZeneca’s diabetes drug dapagliflozin in reducing the incidence of heart failure and death, the company is looking to get this additional benefit from the drug approved in India as well. (ET).
Liquidator of IVRCL Ltd has invited expressions of interest for sale of the construction company as a ‘going concern.’. (BL).
Baba Ramdev-led Patanjali Ayurved, which got the NCLT approval last week to acquire Ruchi Soya in an insolvency process, will infuse over Rs 3,438 crore as equity and debt to settle dues of creditors of the debt-laden firm. (ET).
Aurobindo Pharma Ltd has recalled 2,352 bottles of lipid-lowering Simvastatin tablets from the US market, according information available with the US Food and Drug Administration. According to the US Regulator, this was a ‘voluntary recall’. The drug was manufactured by the US arm of Hyderabad-based Aurobindo, Aurolife Pharma LLC, the USFDA said. The reason for has been mentioned as “labelling; incorrect or missing lot and/or exp date,” the US regulator said. The product was distributed nationwide by three major distributors who may have further distributed the product, the report said. (ET).
Reliance Industries is seeking a minimum price of USD 5.4 per unit for the natural gas it plans to produce from newer fields in the Bay of Bengal block KG-D6 as it changed parameters to suit government policies. Reliance and its partner BP Plc of the UK have sought bids from potential users for the 5 million standard cubic metres per day of natural gas they plan to produce from the R-Cluster Field in KG-D6 block from the second quarter of 2020, according to the bid document. (BL).
Toyota Kirloskar Motor (TKM) expects prices of its diesel models to go up by 15-20 per cent with BSVI emission norms kicking in from April next year, a senior company official said. (ET).
Economy and Sector News
Suzuki Motorcycle India Pvt Ltd has decided to hold back its planned investments on capacity enhancement. This decision was taken due to the ongoing slowdown in two-wheeler sales and the expectation of a hit in the market by the transition to the stricter BS-VI emission norm, according to a senior company official. Suzuki Motor India is the only two-wheeler maker to post double digit growth so far this fiscal. The company also said that uncertainty created over electrification of two-wheelers had also played a role in the parent company - Suzuki Motor Corporation - to adopt a wait and watch strategy before finalising on setting up a new manufacturing plant in India. (BL).
The government is in the process of rolling out a new tariff policy and UDAY 2.0 to address the issue of losses of discoms, which is the “only difficulty” in ensuring round the clock electricity supply for all, Power Minister R K Singh said. According to the PRAAPTI portal, the total outstanding of the discoms to gencos as of July this year stood at Rs 73,425 crore, including the overdue amount of Rs 55,276 crore. In more news, the Government on Saturday constituted an inter-ministerial task force to draw up annual National Infrastructure Pipeline for each of the five years, starting this fiscal i.e. 2019-20 to fiscal year (FY) 2024-25. (ET).
Agriculture implements manufacturer Tirth Agro Technology Pvt Ltd, which owns the Shaktiman brand, and German farm machinery and technology provider Grimme on Friday announced a joint venture to develop and market root crop machines in India. The 50:50 joint venture will use the German technology from Grimme and state-of-the-art manufacturing capabilities of Shaktiman to design and develop full-line solutions for potato and other root crops, including turmeric and garlic. In more news, The local head office of State Bank of India has entered into a tie-up with Kudumbashree Broiler Farmers Producers Company and Kudumbashree Mission for financing poultry farmers under the Kerala Chicken (Kudumbashree) project. (BL).
Outpriced in the international market, Indian oilmeal exports reported a sharp drop in August compared to shipments in the same month last year. As per the data compiled by the Solvent Extractors’ Association of India (SEA), oilmeal exports in August provisionally stood at 98,871 tonnes, nearly 73 per cent down from 3,59,752 tonnes in the same month last year. The overall export of oilmeals during April-August is reported at 1,016,682 tonnes compared to 1,326,626 tonnes in the same period last year, a drop of 23 per cent. In more news, India’s domestic market for computer services is forecast to grow faster than their exports, fuelled by the Government’s Digital India programme and the country’s burgeoning start-up environment, according to a United Nations (UN) report. (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 turned in a mixed performance on Friday as investors scoured over the key monthly jobs report amid speculation that something positive might be afoot on the US-China trade front. The Dow Jones Index closed at 26,797, up 69.31 points by 0.26%. The Standard & Poors 500 index closed at 2,979, up 2.71 points by 0.09%. The Nasdaq Composite Index closed at 8,103, down 13.75 points by 0.17%.

FTSE 100

UK markets ended a little higher on Friday as investors mulled over the US jobs report and the latest goings-on in Westminster. The FTSE 100 index closed at 7,282, up 11.17 points by 0.15%.

 
 
Global Indices
06/09/2019 Clsg Chg%
Dow Jones 26,797 +0.26
NASDAQ 8,103 -0.17
FTSE 100 7,282 +0.15
Bovespa 102,935 +0.68
09/09/2019 Latest
(6:08AM IST)
Chg%
Nikkei 21,265 +0.31
Hang Seng 26,691 +0.66

Nikkei

Asian stocks started trading early in the morning on Monday on a negative note as investors will be closely watching the US and other global markets closely. Nikkei is currently trading at 21,265, up 65.92 points by 0.31%.

Precious Metals

Gold futures moved lower Friday, giving up earlier gains to post a loss for the week, after Federal Reserve Chairman Jerome Powell offered an upbeat view on the U.S. economy, dulling demand for the haven metal.

Base Metals

The London Metal Exchange three-month nickel price closed higher on Friday September 6, with fresh buying momentum prompting the metal’s forward spreads to tighten, while a steady incline in lead futures led the metal to top afternoon gains.

Crude Oil

Oil futures settled sharply lower Friday, contributing to a loss for the month, after reports emerged that Russian Energy Minister Alexander Novak said Russia’s oil output cuts in August will be slightly smaller those agreed to under the deal between OPEC and non-OPEC producers.

 
 
 

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