Morning Notes
18th Jul, 2019

Trading Range:

Nifty opened gap up at 11671 on Wednesday and made a high and low of 11707 and 11651 respectively before closing positive at 11688.


For the day, support for Nifty exists at 11620 and 11550 levels whereas resistance for Nifty stands at 11740 and 11810 levels.


Bank Nifty opened gap up at 30622, made a high of 30800, low of 30568, and closed positive at 30736. For the day, support for Bank Nifty exists at 30500 and 30300 levels whereas resistance for Bank Nifty stands at 30900 and 31100 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 39,216 +0.22
Nifty 11,688 +0.21
BSE 200 4,878 +0.15
BSE Midcap 14,542 -0.15
BSE Smallcap 13,716 -0.07
Dow Jones 27,219 -0.42
NASDAQ 8,185 -0.46


NIFTY 11687.50 (+24.90) (+0.21%)
NIFTY JUL FUTURE 11675.80  (11.70 Points Discount)
NIFTY PCR - OI 1.34(+0.00)
NIFTY OPEN INTEREST 1.99Cr. (-3.02%)
INDIA VIX 11.80 (+2.08%)


CALL 11750 CE +1.97 lac Shares
CALL 11800 CE +1.44 lac Shares
PUT 11650 PE +1.74 lac Shares
PUT 11600 PE +4.40 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,263 -1.01
Bankex 34,607 +0.52
PSU 7,544 +0.02
Healthcare 13,152 -0.17
IT 15,710 +0.86
Market Turn Over (`cr)
Index 17/07 16/07
BSE Cash 2,002 1,958
NSE Cash 33,084 32,011
NSE F&O 1,019,816 874,279
BSE Delivery % 38.77 38.50
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 42.57 57.43
BSE 200 42.79 56.22
BSE 500 46.00 52.80
Total BSE 41.74 51.77
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 56.58 -0.35
Gold Rs./ 10 Gms 35090.00 +0.80
Silver Rs./ Kg 40176.00 +2.16
Rs.- US $ 68.78 -0.04
Rs.- Euro 77.22 +0.09
FII (Rs cr )
17/07* 16/07*
FIIs -358.48 -189.95
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       25,003.00       1,839.35       29,845.00       2,224.34    2,60,053.00     21,275.95    (385.00)
Index Options  24,10,747.00  1,65,536.94  23,80,275.00  1,63,234.43    5,98,319.00     48,491.90  2,302.51
Stock Futures    1,65,515.00     10,027.83    1,73,446.00     10,231.59  13,84,320.00     88,255.87    (203.76)
Stock Options       94,812.00       5,505.93       94,718.00       5,469.07       73,962.00       4,543.14       36.86
Total  26,96,077.00  1,82,910.04  26,78,284.00  1,81,159.43  23,16,654.00  1,62,566.86  1,750.61
Corporate News
Rashtriya Ispat Nigam Ltd is aiming at a sales turnover of Rs.25,000 crore during the current financial year as against Rs.20,000 crore achieved last year, according to its Chairman and Managing Director PK Rath. (BL).
The National Company Law Appellate Tribunal (NCLAT) on Wednesday said fresh bids for the acquisition of Jaypee Infratech can be considered, paving the way for more players to place bids for the debt-ridden real estate company. (ET).
The family that controls Apollo Hospitals Enterprise Ltd is looking to sell assets or bring an outside investor into their holding company to pay down debt. (BL).
India may spin off units of Coal India Ltd, the world’s largest coal miner, into separate listed companies to boost competition and raise government funds. (ET).
Bosch, a global supplier of technology and services, inaugurated its new plant in Bidadi (Phase II), located 35 kilometres from Bengaluru. (ET).
HSIL Limited’s plastic pipes and fitting business has clocked a turnover of Rs. 130 crore in the nine months of the financial year 2018-19 after commencing commercial production at its Sangareddy manufacturing facility in August 2018. (BS).
The U.S. Food and Drug Administration (FDA) has raised doubts about Strides Pharma Sciences Ltd's quality-control practices after finding adulteration and evidence of “uncontrolled shredding of documents” at one of its plants. (BL).
Betting big on micro, small and medium enterprises (MSMEs) and self-employed customers, private sector lender ICICI Bank on Wednesday announced the launch of a new digital platform that would allow these segments to undertake their business banking transactions digitally and instantly. (ET).
Infrastructure company Larsen & Toubro (L&T) on Wednesday said its arm L&T Construction-led joint venture has bagged contract for desalination plant from Gujarat Industrial Development Corporation (GIDC). (BL).
The Comptroller and Auditor General of India (CAG) has red-flagged multiple operational lacuna in marine logistics operations of Oil and Natural Gas Corporation Ltd (ONGC). (BL).
British energy giant BP plc and its partner Reliance Industries will invest USD 5 billion in bringing to production three sets of natural gas fields in the Krishna Godavari basin block in the Bay of Bengal by 2022. (BS).
Allahabad Bank. reported fraud of Rs 688.27 crore in SEL Manufacturing and the NPA account has been fully provided for this amount.(BQ).
Torrent Pharma: U.S. FDA classified company’s Dahej facility as Official Action Initiated. The inspection was undertaken in March. (BQ).
Corporate Quarterly Earnings
Dhanlaxmi Bank Wednesday reported a net profit of Rs 19.84 crore for the first quarter ended June 30 of the current financial year. The bank had posted a net loss of Rs 45 crore in the same period of 2018-19. Total income was nearly flat at Rs 256.75 crore during April-June 2019-20, the bank said in a regulatory filing. Net NPAs or bad loans were at 2.35 per cent of net advances, down from 3.79 per cent a year ago. It stood at 2.41 per cent by the end of March 2019. Bank's provisions towards bad loans and contingencies were brought down to Rs 9.27 crore during the quarter from Rs 65.01 crore parked aside same period a year ago. (BL).
Mindtree Revenue in Indian Rupee terms declined by 0.3% qoq to Rs1,834cr. Revenue in USD terms came in at USD264.2mn, up 0.8% qoq. EBIT stood at Rs117cr, down 50.7% qoq. EBIT margin contracted by 652bps qoq to 6.4%. PAT declined by 53.3% qoq to Rs93cr. (ET).
Yes Bank’s Q1FY20 NII has improved by 2.8% yoy to Rs2,281cr. The NIMs for Q1FY20 were down by 30bps qoq at 2.8%. The bank’s net profit declined 91% yoy. Its GNPA for Q1FY20 came at 5.01% against 3.22% qoq, an increase of 179bps. NNPA for the quarter came at 2.91% against 1.86% qoq, which has increased by 105bps. Loan growth came in at 10.1% yoy and declined 2.2% qoq to Rs2.36 lakh cr. Retail advances grew 43.3% yoy and 7.2% sequentially to 18.3% of advances from 14.0% last year. Retail advances growth accounted for 60.5% of incremental yoy growth in advances. Cost-to-income ratio: At 44.9%, up 760bps yoy  down 1156bps qoq. Operating expenses grew 9% yoy while revenue declined 9% yoy. Net profit at ~Rs114cr for Q1FY20 despite absorbing one-off impact from MTM provisions of Rs1,109cr. This was led by rating downgrades of investments in companies of 2 financial services groups. (ET).
Wipro top-line declined by 1.9% qoq to Rs14,716cr. EBIT came in at Rs 2,382cr, down 6.4% qoq. EBIT margin contracted by 78bps qoq to 16.2%. Reported PAT declined by 3.9% qoq to Rs2,387cr. (ET).
Economy and Sector News
Renault SA will invest €128.5 million ($144 million) for a 50 per cent stake in a venture with Jiangling Motors Corp (JMC) to develop electric vehicles in China. The entity was created in 2015 and already holds certification to manufacture battery-electric passenger cars, according to a statement from the French carmaker on Wednesday. It aims to grow quickly and become a prominent player in the Chinese market, it added. (BL).
The total area under organic farming in the country has gone up by 20 per cent to 27.7 lakh hectares (lh) till date from 23.02 lh brought under chemicals-free cultivation last year, Parliament was informed on Tuesday. This includes 10.97 lh already declared organic under the National Programme for Organic Produce (NPOP), 8.41 lh under conversion, 5.98 lh under Paramparagat Krishi Vikas Yojana ad 0.639 lh covered under Mission Organic Value Chain Development for North Eastern Region (MOVCDNER), Agriculture Minister Narendra Singh Tomar said in a written reply in the Lok Sabha. Madhya Pradesh with 7.55 lh under organic farming, or in the process of becoming organic, tops the list among the States. (ET).
The Cabinet Committee on Economic Affairs cleared three railway projects on Wednesday, one in Assam and two in Uttar Pradesh, with total investment of over Rs.6,000 crore. These include doubling of the line from New Bongaigaon to Agthori via Rangiya (142.97 km) of North-East Frontier Railway in Assam with an estimated cost of Rs.2042.51 crore, according to a press statement. The project will be completed by 2022-23 and will be executed by the Construction Organisation of North-East Frontier Railway. (BL).
The FMCG sector seems to be inching towards a slowdown, with a lower growth rate forecast in the range of 9-10 per cent in 2019, according to market research and insights firm Nielsen. Earlier, Nielsen had projected a growth of 11-12 per cent for the sector for the calendar year. (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 lower on Wednesday, extending the previous day's declines after comments from Donald Trump put a halt to a historic rally. The Dow Jones Index closed at 27,219, down 115.78 points by 0.42%. The Standard & Poors 500 index closed at 2,984, down 19.62 points by 0.65%. The Nasdaq Composite Index closed at 8,185, down 37.59 points by 0.46%.

FTSE 100

UK markets were lower on Wednesday amid renewed concerns about Sino-US trade relations. The FTSE 100 index closed at 7,535, down 41.74 points by 0.55%.

Global Indices
17/07/2019 Clsg Chg%
Dow Jones 27,219 -0.42
NASDAQ 8,185 -0.46
FTSE 100 7,535 -0.55
Bovespa 103,855 +0.08
18/07/2019 Latest
(6:21AM IST)
Nikkei 21,268 -0.93
Hang Seng 28,593 -0.09


Asian shares wobbled in early Thursday trading as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, helping to underpin solid demand for safe-haven U.S. Treasuries. Nikkei is currently trading at 21,268, down 200.62 points by 0.93%.

Precious Metals

Gold prices rose more than 1% on Wednesday as weaker-than-expected U.S. data reinforced expectations for an interest rate cut by the U.S. Federal Reserve later this month, dragging the dollar lower.

Base Metals

Nickel’s three-month price on the London Metal Exchange continued its uptrend at the close of trading on Wednesday July 17, appreciating by 3% to surpass $14,400 per tonne and trade at its highest level in a year.

Crude Oil

Oil futures fell on Thursday, pushing losses for a fourth straight session after U.S. government data showed large builds in refined product stockpiles.


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