Morning Notes
13th Sep, 2019
 

Trading Range:

Nifty opened gap up at 11058 on Thursday and made a high and low of 11082 and 10965 respectively before closing negative at 10983.

Review/Outlook:

For the day, support for Nifty exists at 10900 and 10850 levels whereas resistance for Nifty stands at 11060 and 11120 levels.

Review/Outlook:

Bank Nifty opened gap up at 27871, made a high of 28062, low of 27765, and closed positive at 27819. For the day, support for Bank Nifty exists at 27600 and 27400 levels whereas resistance for Bank Nifty stands at 28000 and 28200 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 37,104 -0.45
Nifty 10,983 -0.48
BSE 200 4,601 -0.39
BSE Midcap 13,610 -0.18
BSE Smallcap 12,908 +0.12
Dow Jones 27,182 +0.17
NASDAQ 8,194 +0.30
 

DERIVATIVES INDICATORS FOR SEP 13, 2019:

NIFTY 10982.80 (-52.90) (-0.48%)
NIFTY SEP FUTURE 10996.45 (13.65 Points Premium)
NIFTY PCR - OI 1.13(-0.20)
NIFTY OPEN INTEREST 1.87Cr. (+2.42%)
INDIA VIX 14.90 (-3.07%)
NIFTY ROLLOVER 9%

NIFTY OPTIONS ACTIVITY (26-SEP SERIES)

CALL 11100 CE +3.19 lac Shares
CALL 11000 CE +2.45 lac Shares
PUT 11000 PE +2.50 lac Shares
PUT 10850 PE +2.06 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 16,345 -1.92
Bankex 31,275 +0.19
PSU 6,530 -0.31
Healthcare 13,072 +0.11
IT 15,814 -0.63
 
Market Turn Over (`cr)
Index 12/09 11/09
BSE Cash 2,523 2,314
NSE Cash 32,541 36,140
NSE F&O 2,481,445 1,075,053
BSE Delivery % 42.33 45.23
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 35.64 64.36
BSE 200 37.81 61.69
BSE 500 46.71 52.30
Total BSE 51.91 41.88
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 54.90 -0.34
Gold Rs./ 10 Gms 37750.00 -0.59
Silver Rs./ Kg 47128.00 -0.78
Rs.- US $ 70.98 -1.03
Rs.- Euro 78.51 -0.58
FII (Rs cr )
12/09* 11/09*
FIIs +577.59 +297.80
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        37,205.00        2,700.90        49,870.00        3,707.39     2,01,518.00      15,532.72  -1,006.49
Index Options  54,95,907.00  3,48,323.78  54,24,957.00  3,43,155.07     7,30,138.00      56,637.10    5,168.71
Stock Futures     2,20,919.00      12,171.43     2,28,930.00      12,371.69  14,92,675.00      88,733.32      -200.26
Stock Options        99,468.00        5,452.19        99,982.00        5,465.17        73,263.00        4,011.85        -12.98
Total  58,53,499.00  3,68,648.30  58,03,739.00  3,64,699.32  24,97,594.00  1,64,914.99    3,948.98
Corporate News
JSW Steel will move the National Company Law Appellate Tribunal (NCLAT) on Friday to seek immunity from the ongoing criminal fraud cases against Bhushan Power and Steel Ltd (BPSL). (BL).
IT major Wipro is collaborating with Indian Institute of Science (IISc), Bengaluru, to develop ‘driverless cars’ and build the country’s first indigenous ‘Metal 3D printing (additive manufacturing) machine’. (ET).
With gas output from its fields not matching commitments in the past, Reliance Industries is offering ‘supply or pay’ contracts for natural gas it plans to produce from newer fields beginning mid-2020, with an obligation to pay if it is unable to supply. (BL).
For Vedanta Sesa Goa, sustainability implies sustainable livelihoods, sustainable businesses and community development through education, employment, healthcare, women empowerment and infrastructure growth, said Sauvick Mazumdar, CEO, Vedanta Sesa Goa Iron Ore Business. (ET).
The Water & Effluent Treatment business of L&T Construction has bagged two deals from Maharashtra and Odisha. L&T has classified these projects as significant (which means it is in the range of Rs.1,000 to 2,500 crore). (ET).
The State Bank of India will revise service charges for deposits and withdrawal on October 1 which will encompass cash withdrawal, average monthly balance, deposits and withdrawals and will affect scores of customers in many ways. On maintenance of average monthly balance (AMB), starting October 1, SBI has reduced the minimum average monthly balance requirement for urban centers from Rs 5,000 to Rs 3,000. Under the revised rules, if someone does not maintain Rs 3,000 as average monthly balance and falls short by 50 per cent (that is Rs 1,500) the individual will be charged Rs 10 plus GST. If the account holder falls short by more than 75 percent, it will invite a fine of Rs 15 plus GST. (BL).
Granules India received an Establishment Inspection Report (EIR) from USFDA for Bonthapally unit. The USFDA has issued EIR for the Bonthapally facility located at Hyderabad, Telangana, India, the company said in a press note. (ET).
Apollo Hospitals said in a press note that the Promoter Group which held a 34.40% equity stake has divested 50 lakh equity shares constituting a 3.6% holding in the company through a bulk deal transaction on the stock exchanges. Post this divestment, the Promoter Group's stake in the Company would constitute 30.8% of the paid-up equity capital. (ET).
Economy and Sector News
Vivriti Capital, an online platform for institutional lending, has disbursed loans worth Rs 1,000 crore since January 2019. The platform aims to disburse loans totalling Rs 2,500 crore by March 31, 2020. In more news, after having introduced a leasing model for its retail buyers last year, Mahindra & Mahindra Ltd on Thursday announced the introduction of a subscription-based initiative, in partnership with Revv–a self-driving rental platform–for its retail customers, in a bid to offer a different usage model, which doesn’t necessarily involve ownership. (BL).
Ride-hailing platform has Ola announced the expansion of its Ola Bike service to 150 cities across the country, making it one of the dominant players in the micro-mobility space. However, the company has still not received the go-ahead for its pilot bike taxi service in its home market Bengaluru. In more news, The Reserve Bank of India (RBI) on Thursday said it has reduced the risk weight requirement for consumer loans to 100 per cent, a move that will reduce cost of such loans. Currently, the risk weight requirement for such loans is 125 per cent. The relaxed requirement would not be applicable to credit cards. (ET).
Retail inflation inched up to a 10-month high of 3.21 per cent in August. Inflation based on the Consumer Price Index (CPI) stood at 3.15 per cent in July and 3.69 per cent in August 2018. The previous high was 3.38 per cent in October 2018. Inflation in the food basket was 2.99 per cent, up from 2.36 per cent in July. The retail inflation in health was 7.84 per cent, recreation and amusement 5.54 per cent and personal care and effects 6.38 per cent. Price rise in the ‘education’ segment was recorded at 6.10 per cent in August. Inflation in meat and fish basket was 8.51 per cent, pulses and products 6.94 per cent and vegetables 6.9 per cent. (BL).
The cumulative revenue growth of 642 companies in the Indian corporate sector skid to an 11-quarter low at 5.7% in Q1FY20 mainly due to weak consumer sentiments and subdued government spending on Infrastructure. As per ICRA Ratings, the financial results of its sample companies were reflected in sequential contraction of 7.7% in revenues from consumer-oriented sectors. Additionally, demand from the infrastructure segment was down, with government spending on infrastructure projects reducing in the run-up to the general elections in Q4FY19 and Q1FY20. This was reflected in the sharp slowdown in growth in GFCF during the two quarters to 3.6% and 4%, and the slowdown in cement production volume growth. The EBITDA margin however, reflect an optical improvement of 136 bps on a yoy basis and remained flat sequentially at 17.7% in Q1FY20. This was largely on account of the transition to Ind AS 116, whereby operating leases have been capitalized by companies, thereby reducing rental costs and increasing depreciation and interest outgo. PBT margins, on the other hand, contracted on a yoy basis by 114 bps to 7.8% and improved sequentially. (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 slightly higher on Thursday, with investors' attention centred on global trade developments after Donald Trump agreed to hold off on additional tariff increases on Chinese goods for two weeks as a "gesture of good will". The Dow Jones Index closed at 27,182, up 45.41 points by 0.17%. The Standard & Poors 500 index closed at 3,010, up 8.64 points by 0.29%. The Nasdaq Composite Index closed at 8,194, up 24.79 points by 0.30%.

FTSE 100

UK markets underperformed on Thursday despite another round of monetary stimulus from the European Central Bank - albeit accompanied this time by a very explicit call for fiscal stimulus in the euro area - and apparent signs that trade tensions between the US and China were easing. The FTSE 100 index closed at 7,344, up 6.64 points by 0.09%.

 
 
Global Indices
12/09/2019 Clsg Chg%
Dow Jones 27,182 +0.17
NASDAQ 8,194 +0.30
FTSE 100 7,344 +0.09
Bovespa 104,371 +0.89
13/09/2019 Latest
(6:20AM IST)
Chg%
Nikkei 21,834 +0.34
Hang Seng 27,087 -0.26

Nikkei

Asia stocks saw modest gains Friday at the end of a week in which trade optimism continued to grow and the European Central Bank introduced a fresh round of stimulus. Treasuries steadied. Nikkei is currently trading at 21,834, up 74.47 points by 0.34%.

Precious Metals

Gold slid 0.1% to $1,497.84 an ounce on Friday.

Base Metals

The three-month nickel price on the London Metal Exchange was lower at the close of trading on Thursday September 12, while considerable tightness in the metal’s forward spreads prompted market questions of prospective deliveries into LME warehouses to ease trading conditions.

Crude Oil

West Texas Intermediate crude slipped 0.2% to $54.97 a barrel on Friday.

 
 
 

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