Morning Notes
17th Sep, 2019
 

Trading Range:

Nifty opened gap down at 10995 on Monday and made a high and low of 11053 and 10968 respectively before closing negative at 11004.

Review/Outlook:

For the day, support for Nifty exists at 10940 and 10870 levels whereas resistance for Nifty stands at 11060 and 11130 levels.

Review/Outlook:

Bank Nifty opened flat at 28099, made a high of 28099, low of 27799, and closed negative at 27855. For the day, support for Bank Nifty exists at 27650 and 27500 levels whereas resistance for Bank Nifty stands at 28000 and 28200 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 37,123 -0.70
Nifty 11,004 -0.65
BSE 200 4,612 -0.54
BSE Midcap 13,628 -0.27
BSE Smallcap 13,096 +0.64
Dow Jones 27,077 -0.52
NASDAQ 8,154 -0.28
 

DERIVATIVES INDICATORS FOR SEP 17, 2019:

NIFTY 11003.50 (-72.40) (-0.65%)
NIFTY SEP FUTURE 11017.20 (13.70 Points Premium)
NIFTY PCR - OI 1.17(-0.17)
NIFTY OPEN INTEREST 1.98Cr. (+4.99%)
INDIA VIX 14.95 (+5.90%)
NIFTY ROLLOVER 12%

NIFTY OPTIONS ACTIVITY (26-SEP SERIES)

CALL 11200 CE +5.05 lac Shares
CALL 11100 CE +3.05 lac Shares
PUT 11000 PE -0.70 lac Shares
PUT 10900 PE -2.08 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 16,406 -0.82
Bankex 31,407 -0.87
PSU 6,575 -1.24
Healthcare 13,071 +0.37
IT 15,994 +0.16
 
Market Turn Over (`cr)
Index 16/09 13/09
BSE Cash 2,221 2,381
NSE Cash 29,595 30,666
NSE F&O 1,016,228 921,269
BSE Delivery % 41.73 39.19
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 33.66 66.34
BSE 200 40.80 59.20
BSE 500 48.70 50.50
Total BSE 50.82 42.54
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 62.04 -1.37
Gold Rs./ 10 Gms 38180.00 +1.75
Silver Rs./ Kg 47218.00 +3.18
Rs.- US $ 71.68 +0.93
Rs.- Euro 78.87 +0.29
FII (Rs cr )
16/09* 13/09*
FIIs -397.09 +2609.40
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       46,868.00       3,280.31       68,463.00       4,913.67    2,29,222.00     17,803.46  (1,633.36)
Index Options  32,18,039.00  2,10,455.62  32,05,479.00  2,09,563.51    7,99,999.00     61,687.20      892.11
Stock Futures    2,05,442.00     12,058.01    2,12,963.00     12,455.04  15,15,599.00     90,266.00     (397.03)
Stock Options       88,586.00       5,193.06       87,981.00       5,168.96       76,025.00       4,163.92        24.10
Total  35,58,935.00  2,30,987.00  35,74,886.00  2,32,101.18  26,20,845.00  1,73,920.58  (1,114.18)
Corporate News
Bharathi Cement has commissioned a 10 MW ground-mounted solar power plant in its manufacturing facility located at Kadapa in Andhra Pradesh. (BL).
Two-wheeler market leader Hero MotoCorp on Monday said it has commenced a Voluntary Retirement Scheme (VRS) for its employees with an objective to improve productivity and efficiency. (ET).
Private equity giant KKR India picked up 10 per cent stake in CG Power and Industrial Solutions for over Rs 89 crore through open market transactions. (BL).
Truck-maker Ashok Leyland is in talks with some multinational companies to form a joint venture for offering e-Mobility services, the company’s Head – EV and e-Mobility, Karthick Atmanathan, has said. (ET).
The National Company Law Appellate Tribunal (NCLAT) has issued a notice to the Union government, the Enforcement Director (ED) and the CBI on a petition filed by JSW Steel. JSW Steel has sought immunity from an ongoing investigation into an alleged financial fraud at Bhushan Power and Steel once it acquires the company. (ET).
Dr Reddy’s Laboratories Ltd (DRL) has launched lansoprazole delayed-release capsules, an over-the-counter store-brand equivalent of Takeda Pharma’s Prevacid 24HR Capsules, in the US market, as approved by the USFDA. The Prevacid 24HR brand and generic had US sales of approximately $57 million last year. The drug is used to treat heartburn occurring two or more days a week. (BL).
Cummins India has successfully completed the Bharat Stage-VI (BS-VI) emission standard compliance certification tests with the Automotive Research Association of India (ARAI). (ET).
Debt-strapped Infrastructure Leasing & Financial Service Limited and its subsidiaries including IL&FS Engineering and Construction Company Limited have invited expressions of interest for sale of Hill County Properties Limited. (ET).
Defence PSU BEML Ltd and Wipro Infrastructure Engineering (WIN) have signed an MoU to work together in the areas of aerospace, industrial automation, 3-D printing, artificial intelligence and hydraulic system engineering. (BL).
The board of Allahabad Bank on Monday approved the merger proposal with Indian Bank, making the amalgamated entity the seventh largest public sector lender of the country. Finance Minister Nirmala Sitharaman had on August 30 announced the consolidation of 10 state-run banks into four large-scale lenders. (ET).
CARE Ratings has revised the rating outlook of Tier II/ Perpetual/Base III Additional Tier I Bonds to rating ‘under credit watch with developing implications’ in view of Ministry of Finance’s announcement regarding the proposed amalgamation of Syndicate Bank with Canara Bank. (BL).
Economy and Sector News
Volkswagen and a law firm say the German automaker has agreed to pay up to 127 million Australian dollars ($87 million) to settle an Australian class action stemming from its 2015 diesel emissions scandal. The settlement was announced in the Federal Court in Sydney on Monday and has yet to be approved by a judge. (BL).
Tuesday could see consumers paying up to a rupee more for their petrol and diesel. This is because of the spurt in global crude oil prices following the coordinated drone attack on Saudi Aramco’s oil production facilities, including a crude-processing plant in Abqaiq, on Saturday. Subsequent to the attack, Saudi Aramco had announced curtailment of production by almost a half. (ET).
Wholesale price index (WPI)-based inflation for August came in at 1.08 per cent, much lower than 4.62 per cent recorded in the same month last year. On a sequential basis, WPI remained at the same level recorded in July. Food articles inflation shot up to 7.67 per cent for the month under review compared to a contraction of 4.04 per cent in the same month. Manufactured products inflation was at nil per cent against 4.43 per cent in August last year. Compared to August 2018, consumers had to shell out more for food items such as cereals, paddy, wheat and pulses among others. WPI-based index for onion rose the highest to 33.01 per cent. There was cheaper cooking gas during August 2019 and the index fell by 27.94 per cent. (BL).
A coordinated drone strike on September 14, on Saudi Arabia’s key oil facilities, also the world’s largest oil processing plant affected about the production of 5.7 million barrels of oil per day (mbd). As per an ICRA note, the production affected constitutes about half the kingdom’s exports and 5% of the global supply leading to jump of about $12/barrel in crude oil futures in the seconds after trade opened on Monday (September 16, 2019) which is the biggest intraday advance in absolute dollar terms ever. Besides oil, haven assets such as gold, treasuries surged owing to the uncertainty over the geopolitical fallout of the event. (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 weaker on Monday after an attack on a Saudi Arabian oilfield and the country's key processing facility sparked fears that a surge in crude prices could add to the slowdown in the global economy. The Dow Jones Index closed at 27,077, down 142.70 points by 0.52%. The Standard & Poors 500 index closed at 2,998, down 9.43 points by 0.31%. The Nasdaq Composite Index closed at 8,154, down 23.17 points by 0.28%.

FTSE 100

UK markets finished lower on Monday following an attack on key Saudi Arabian oil installations at the weekend that cut the Kingdom's crude oil output by half, dealing a blow to the previous week's incipient recovery in risk appetite in financial markets on the back of an apparent easing in US-China trade tensions. The FTSE 100 index closed at 7,321, down 46.05 points by 0.62%.

 
 
Global Indices
16/09/2019 Clsg Chg%
Dow Jones 27,077 -0.52
NASDAQ 8,154 -0.28
FTSE 100 7,321 -0.62
Bovespa 103,680 +0.17
17/09/2019 Latest
(4:09AM IST)
Chg%
Nikkei 21,988 +1.05
Hang Seng 27,125 -0.83

Nikkei

Asia stocks were closed on Monday owing to Respect for the Aged Day. The following numbers are for previous trading day time stamp. Nikkei is currently trading at 21,988, up 228.68 points by 1.05%.

Precious Metals

Gold futures finished solidly higher on Monday, at their highest price in just over a week, after an attack on Saudi Arabian oil production sent oil values skyrocketing and investors turning to haven assets, including bonds and precious metals.

Base Metals

The three-month copper price on the London Metal Exchange was lower at the close of trading on Monday September 16, below nearby support levels, while a continued sell-off in nickel futures saw that commodity’s outright price fall by 2.6%.

Crude Oil

Oil ended nearly 15% higher on Monday, with Brent logging its biggest jump in over 30 years amid record trading volumes, after an attack on Saudi Arabian crude facilities cut the kingdom’s production in half and fanned fears of retaliation in the Middle East.

 
 
 

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