Morning Notes
11th Sep, 2019

Trading Range:

Nifty opened gap down at 10937 on Monday and made a high and low of 11029 and 10890 respectively before closing positive at 11003.


For the day, support for Nifty exists at 10840 and 10770 levels whereas resistance for Nifty stands at 11050 and 11120 levels.


Bank Nifty opened flat at 27240, made a high of 27566, made a low of 26994 and closed positive at 27505 levels. For the day, support for Bank Nifty exists at 27300 and 27000 levels whereas resistance for Bank Nifty stands at 27700 and 27900 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 37,145 +0.44
Nifty 11,003 +0.52
BSE 200 4,600 +0.57
BSE Midcap 13,49 +0.97
BSE Smallcap 12,710 +0.92
Dow Jones 26,909 +0.28
NASDAQ 8,084 -0.04


NIFTY 11003.05 (+56.85) (+0.52%)
NIFTY SEP FUTURE 11025.25 (22.20 Points Premium)
NIFTY PCR - OI 1.41(+0.10)
NIFTY OPEN INTEREST 1.78Cr. (-1.31%)
INDIA VIX 15.85 (-2.60%)


CALL 11100 CE +0.80 lac Shares
CALL 11000 CE -1.42 lac Shares
PUT 11000 PE +1.97 lac Shares
PUT 10900 PE +3.01 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 16,100 +0.89
Bankex 30,928 +0.95
PSU 6,523 +0.67
Healthcare 13,017 +0.50
IT 16,122 -0.81
Market Turn Over (`cr)
Index 09/09 06/09
BSE Cash 5,833 1,764
NSE Cash 26,136 29,344
NSE F&O 962,307 643,321
BSE Delivery % 39.32 39.83
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 73.27 25.74
BSE 200 71.14 27.86
BSE 500 67.86 31.54
Total BSE 58.73 34.79
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 57.93 +0.92
Gold Rs./ 10 Gms 38472.00 -0.21
Silver Rs./ Kg 47741.00 -0.30
Rs.- US $ 72.01 +0.33
Rs.- Euro 79.56 +0.32
FII (Rs cr )
09/09* 06/09*
FIIs -1252.02 -415.56
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       41,717.00       3,018.49       39,597.00       2,797.16    1,67,510.00     12,639.15     221.33
Index Options  27,67,118.00  1,79,591.81  27,37,197.00  1,77,517.35    7,35,783.00     56,872.31  2,074.46
Stock Futures    1,59,202.00       8,396.11    1,61,277.00       8,448.76  15,01,375.00     88,728.25      (52.65)
Stock Options       78,682.00       4,341.84       79,505.00       4,410.12       63,587.00       3,553.45      (68.28)
Total  30,46,719.00  1,95,348.25  30,17,576.00  1,93,173.39  24,68,255.00  1,61,793.16  2,174.86
Corporate News
Debt-laden McLeod Russel India Ltd (MRIL), part of the Willamson Magor Group, considers its decision to lend to group company — McNally Bharat Engineering Company Ltd — a “mistake”. The company, which has a total outstanding debt of over Rs.1,700 crore, is banking on acceptance of its restructuring proposal by the consortium of bankers to be able to turnaround. (BL).
Eveready Industries India Ltd on Monday clarified that “no definitive decision” has been taken on strategic options, joint ventures and commercial arrangements involving the company. (ET).
Coffee Day Enterprises, which runs Cafe Coffee Day, is finally formalising its plans to sell some of its key assets. It has hired IDFC Securities to identify the strategic options for Coffee Day Enterprises Ltd including divestment of its holding in Coffee Day Global Limited and any other group company (other than SICAL Logistics Limited). (BL).
Jaguar Land Rover (JLR), a part of Tata Motors, on Monday reported a 6.7 per cent decline in total sales at 34,176 units in August as compared with the year-ago period. Sales of Jaguar brand were at 9,702 units during the month, down 17.8 per cent from the same month last year, Tata Motors said in a regulatory filing. Land Rover sales were at 24,474 units, down 1.4 per cent from the same month last year, it added. (ET).
Infrastructure company Larsen & Toubro (L&T) on Monday said its construction arm has bagged contract from the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) to construct 23,432 dwelling units at various locations in Navi Mumbai. The company did not provide the value of the contract but said the order falls under the ‘major’ category, which ranges between Rs.5,000 crore and Rs.7,000 crore according to the classification of contracts. (ET).
The Hinduja Group’s flagship firm Ashok Leyland, on Monday, announced non-working days at its various manufacturing facilities following weak demand. (BL).
Deewan Housing and Finance Company (DHFL) has paid the entire pending debt to DSP Mutual Fund, the fund house said. Seven schemes of the fund house have seen a jump in their net asset value (NAV) after the payment was made by the housing finance company. DSP Mutual Fund had an exposure of Rs 150 crore to commercial papers (CPs) issued by DHFL with scheduled maturity on June 25, 2019. DHFL had paid 50 per cent of the total debt in parts by June 28. The company had made part payments, Rs 60 crore on June 25 and Rs 15 crore on June 28, a total of Rs 75 crore. The fund house said that over the past two months they had been engaged with DHFL for the pending recoveries. (ET).
Mangalore Refinery and Petrochemicals Ltd (MRPL), which had taken a temporary shutdown of its phase-3 units last month following a minor landslide in the area, has resumed operations. The company informed stock exchanges on Tuesday that phase-3 operations of the refinery have resumed after taking necessary corrective actions. (ET).
Debt-laden IL&FS has received binding financial offers of Rs.13,000 crore for 10 domestic road assets. These bids were opened on September 9. The combined value of bids and these claims will help address the cumulative financial debt of Rs.17,700 crore, as of October 2018, in these assets. (ET).
Sical Logistics Ltd — a Coffee Day Group company that runs port terminals and container freight stations — is likely to see bidding by JSW Group and Adani Group. (ET).
Union Bank's board approved the merger of Andhra Bank and Corporation Bank with itself. The board also approved a revised capital plan to raise up to Rs17,200cr, of which Rs13,000cr would be raised by means of equity and the rest via AT I/Tier II bonds. The capital raising through equity shares would be on a preferential basis to the Government of India. (ET).
Economy and Sector News
Union Health Minister Harsh Vardhan on Monday inaugurated Serum Institute of India’s (SII) new plant with an investment of Rs.4,000 crore at Manjri in Pune. In more news, the Competition Commission of India (CCI) on Monday said it has given nod to Japan-based Mitsubishi Corporation for increasing stake in TVS Automobile Solutions to 25 per cent. (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).
NBFCs giving loans to real-estate companies may come under pressure in the first half of next year when about Rs 70,000 crore worth of advances to infrastructure developers would no longer enjoy mandatory repayment exemptions. India Ratings said on Monday that with refinancing options looking bleak for these developer companies due to high costs of fund and liquidity tightness, some of these exposures may turn delinquent. The Fitch group’s Indian rating agency on Monday downgraded its mid-year outlook for NBFC sector to ‘negative’ from ‘stable'. In more news, Ford Motor Co. was dealt a blow by Moody’s Investors Service, which cut the carmaker’s credit rating to junk on doubts that a turnaround plan by Chief Executive Officer Jim Hackett will generate earnings and cash quickly enough. Moody’s downgraded Ford to the highest junk rating, Ba1, saying the automaker’s cash flow and profit margins are below expectations and likely to remain weak over the next two years. The descent to junk status affects one of the largest corporate bond issuers in the US outside the financial sector. (BL).
According to the data from the Association of Mutual Funds in India (AMFI), the total Assets Under Management (AUM) of the Indian MF industry stood at Rs25.6 lakh cr vs. Rs25.8cr MoM. The Net flow came at Rs1.02 lakh cr vs. inflow Rs87,088cr MoM. The equity inflow stood at Rs9,152cr vs. Rs8,112cr and equity AUM came in at Rs6.78 lakh cr vs. Rs7.06 lakh cr, the AMFI data added. Further, the data said that the multi-cap fund inflows stood at Rs1,581cr vs. Rs327cr, Large-cap fund inflows at Rs2,582cr vs. Rs1,915cr and Small-cap fund inflows at Rs1,307cr vs. Rs835cr on an MoM basis. In more news, the year-to-date (January-August) PE/VC investments in India rose to an all-time high of $36.7 billion, riding mainly on large investments in the infrastructure sector that accounted for 35 per cent of all PE/VC investments during the year. This has surpassed an all-time high of $36.5 billion recorded in calendar year 2018. On the back of 16 large deals of value greater than $100 million, the country’s PE/VC investments for August stood at $4.4 billion across 82 deals in August. Exits recorded $691 million across 11 deals on account of large secondary exits, according to a report by Indian Private Equity & Venture Capital Association (IVCA) and EY (IVCA-EY). (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 another mixed performance on Tuesday after some weak Chinese data overnight was overshadowed by reports that the country had agreed to increase purchases of American agricultural products. The Dow Jones Index closed at 26,909, up 73.92 points by 0.28%. The Standard & Poors 500 index closed at 2,979, up 0.96 points by 0.03%. The Nasdaq Composite Index closed at 8,084, down 3.28 points by 0.04%.

FTSE 100

UK markets reversed early losses on Tuesday to finish higher thanks to a strong showing from the banking sector, even as investors digested weak Chinese data and a mixed reading on the UK labour market. The FTSE 100 index closed at 7,268, up 32.14 points by 0.44%.

Global Indices
10/09/2019 Clsg Chg%
Dow Jones 26,909 +0.28
NASDAQ 8,084 -0.04
FTSE 100 7,268 +0.44
Bovespa 103,032 -0.14
11/09/2019 Latest
(5:19AM IST)
Nikkei 21,392 +0.35
Hang Seng 26,684 +0.01


Asian stocks were poised to edge higher on Wednesday following a late rally in U.S. equities. The sovereign bond sell-off extended to the region, driving up Australian yields. Nikkei is currently trading at 21,392, up 73.68 points by 0.35%.

Precious Metals

Gold was steady at $1,487.32 an ounce on Wednesday.

Base Metals

The three-month aluminium and copper prices on the London Metals Exchange defied a stronger dollar index to trade significant volumes by the end of the day’s trading on Tuesday September 10.

Crude Oil

West Texas Intermediate crude advanced 0.9% to $57.91 a barrel on Wednesday.


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