Morning Notes
18th Sep, 2019

Trading Range:

Nifty opened flat at 11000 on Tuesday and made a high and low of 11000 and 10796 respectively before closing negative at 10818.


For the day, support for Nifty exists at 10750 and 10670 levels whereas resistance for Nifty stands at 10880 and 10960 levels.


Bank Nifty opened gap down at 27765, made a high of 27851, low of 27048, and closed negative at 27132. For the day, support for Bank Nifty exists at 26900 and 26700 levels whereas resistance for Bank Nifty stands at 27300 and 27500 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 36,481 -1.73
Nifty 10,818 -1.69
BSE 200 4,534 -1.68
BSE Midcap 13,387 -1.77
BSE Smallcap 12,855 -1.84
Dow Jones 27,111 +0.13
NASDAQ 8,186 +0.40


NIFTY 10817.60 (-185.90) (-1.69%)
NIFTY SEP FUTURE 10833.50 (15.90 Points Premium)
NIFTY PCR - OI 0.99(-0.18)
NIFTY OPEN INTEREST 2.05Cr. (+3.60%)
INDIA VIX 16.01 (+7.12%)


CALL 10900 CE +7.90 lac Shares
CALL 11000 CE +12.30 lac Shares
PUT 10800 PE +5.91 lac Shares
PUT 10900 PE -4.12  lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 15,783 -3.80
Bankex 30,595 -2.59
PSU 6,421 -2.35
Healthcare 12,848 -1.71
IT 15,904 -0.56
Market Turn Over (`cr)
Index 17/09 16/09
BSE Cash 2,001 2,221
NSE Cash 31,616 29,595
NSE F&O 1,366,981 1,016,228
BSE Delivery % 46.96 41.73
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 9.90 90.10
BSE 200 11.44 88.06
BSE 500 12.97 86.83
Total BSE 31.03 63.47
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 58.84 -0.84
Gold Rs./ 10 Gms 38016.00 -0.43
Silver Rs./ Kg 38016.00 +0.30
Rs.- US $ 71.54 -0.20
Rs.- Euro 79.22 +0.44
FII (Rs cr )
17/09* 16/09*
FIIs -792.26 -397.09
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       70,970.00       4,755.32       58,164.00       4,163.14    2,41,536.00     18,457.72   592.18
Index Options  39,07,646.00  2,51,813.76  39,16,493.00  2,52,714.61    8,72,026.00     65,174.86  (900.85)
Stock Futures    2,32,685.00     13,070.10    2,29,467.00     12,705.34  15,33,121.00     89,567.33   364.76
Stock Options    1,09,673.00       6,365.67    1,10,855.00       6,422.10       76,379.00       4,101.93    (56.43)
Total  43,20,974.00  2,76,004.85  43,14,979.00  2,76,005.19  27,23,062.00  1,77,301.84      (0.34)
Corporate News
JK Paper Limited is working towards increasing its paper production capacity from 4.5 lakh tonnes per annum (tpa) to 8 lakh tpa by next year with an outlay of about Rs.2,100 crore. This capacity augmentation is aimed at significantly expanding its reach and to take advantage of the growth momentum witnessed in the country’s paper secto. (BL).
Adani Power on Tuesday said that electricity tribunal APTEL has allowed its subsidiary Adani Power Rajasthan to charge a higher cost of coal for a 1,200-MW power supply agreement with distribution companies in Rajasthan. (ET).
Coffee Day Enterprises, which runs Cafe Coffee Day chain, has said that it has entered into a definitive agreement with Blackstone Group and Salarpuria Satvva Group for investment in GV Techparks, a wholly owned subsidiary of Tanglin Development Ltd. The transaction is at an enterprise value of Rs.2,700 crore. In a filing with BSE, Coffee Day Enterprises said the transaction will bring down the debt level of the group which was at Rs.4,970 crore. (BL).
Bajaj Finance said it will raise up to Rs 8,500 crore through qualified institutional placement by issuing equity shares. (BQ).
Air India Assets Holdings Ltd (AIAHL) is expected to come out with its second bond offering worth Rs 15,000 crore in the next 10 to 12 days, according to a senior official. (ET).
Tata Power Renewable Energy Ltd (TPREL) has commissioned a 150 MW solar capacity in Pokharan, Rajasthan. With the commissioning of this solar capacity, TPREL, a subsidiary of Tata Power, has increased its renewable capacity to 2,628 MW, inching closer to its target of generating 40 per cent of its total generation from clean energy sources. Tata Power won this capacity in a bid at a tariff of Rs 2.72/kWh announced by Maharashtra State Electricity Distribution Company Ltd in 2018. In more news, Tata Power has sold its entire 50 per cent stake in Cennergi, a South African joint venture, for $106 million. (BL).
Country’s biggest bicycle maker Hero Cycles on Tuesday said that if electric bicycles come under the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME2 Scheme), the company can bring more products at lower cost, as low as Rs.10,000. (ET).
NHPC's board has approved the proposal for raising of debt up to Rs2,500cr during the financial year 2019-20 through secured, redeemable, taxable, non-cumulative nonconvertible taxable Corporate Bonds in one or more series/tranches on a private placement basis and/or raising of Term loans/Inter-corporate loans / External Commercial Borrowings (ECB). The Board also decided that out of Rs2,500cr, debt up to Rs2,000cr be raised in the first tranche and balance debt of Rs500cr be raised after the completion of exercise for recovery of dues from beneficiaries and monetization of under-utilised fixed assets, the company said. (ET).
Glenmark Pharma: S&P Global Ratings revised outlook to negative from stable, with BB- rating affirmed, according to Bloomberg report. (BQ).
Ahluwalia Contracts secured orders worth Rs 497.36 crore. Total order inflow for fiscal year 2020 stands at Rs 927.59 crore. (BQ).
Economy and Sector News
India Ratings & Research has maintained a stable-to-negative outlook on the power sector for the remaining FY20, despite an increase in electricity demand and a rise in thermal plant load factor (PLF). Ind-Ra expects the power demand to remain at 6-7 per cent despite the likelihood of slowing demand. Ind-Ra notes that the growth in power demand from states such as Haryana, Gujarat, Tamil Nadu and Maharashtra, which are main manufacturing hubs, has been lower than the all-India power demand growth of 6.7 per cent in April-July 2019. The new consumer addition of around 26.4 million under the Saubhagya scheme supports the all-India growth data. (BL).
The profitability of IT services companies declined during Q1FY20, on account higher employee expenses especially onsite led by fresh hiring, sub-contracting cost and cross-currency movements. Employee expense increased to 61.7% in Q1FY20 from 59.8% in Q1FY19 for ICRA’s sample of 13 companies. The operating margin during Q1FY20 remained at 22.6% vs. 23.3% Q1FY18 and Q4FY19 22.7%. The share of fixed-price contract improved to 58.5% Q1FY20 compared to 57.5% in FY18 while employee utilization levels remained flattish during the same period for sample companies, being two critical factors associated with generating operational efficiencies. During Q1FY20, ICRA sample companies grew by 10.3% in INR terms while in US$ terms it grew by approximately 7.4%. During the quarter INR depreciated by 3.7% yoy vs. US$ and appreciated 1.9% and 2.1% vs. GBP/EUR respectively (USA and Europe collectively contribute 85% of ICRA sample set revenues). (ET).
Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO accounts will be credited with interest amount at 8.65 per cent rate for 2018-19 ahead of the festival season. The Central Board of Trustees -- the apex decision-making body of the Employees’ Provident Fund Organisation (EPFO) -- had approved 8.65 per cent interest rate for the last fiscal on February 21, this year. (BL).
SEBI on Tuesday barred ousted former Chairman of CG Power and Industrial Solutions, Gautam Thapar, and three others from accessing the securities market until further orders. EBI said Thapar and others had done a “fraud” on public investors. The actions of Thapar and others have led to shareholders losing value, the order noted. In more news, the government has waived the three-year lock-in period on investments made by non-residents in infrastructure debt funds (IDFs), to promote funding in the infrastructure sector. A notification in this regard has been issued by the Central Board of Direct Taxes (CBDT). (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 higher on Tuesday as crude oil futures skidded lower amid reports that Saudi oil output could be fully restored as quickly as had originally been anticipated. The Dow Jones Index closed at 27,111, up 33.98 points by 0.13%. The Standard & Poors 500 index closed at 3,006, up 7.74 points by 0.26%. The Nasdaq Composite Index closed at 8,186, up 32.47 points by 0.40%.

FTSE 100

UK markets finished Tuesday's session much as they had started it and with investors cautious amid the ongoing geopolitical tensions in the Middle East, even as they monitored the day's proceedings at the UK Supreme Court and prepared for a key policy decision by the Federal Reserve. The FTSE 100 index closed at 7,320, down 1.01 points by 0.01%.

Global Indices
17/09/2019 Clsg Chg%
Dow Jones 27,111 +0.13
NASDAQ 8,186 +0.40
FTSE 100 7,320 -0.01
Bovespa 104,617 +0.90
18/09/2019 Latest
(5:29AM IST)
Nikkei 22,001 +0.06
Hang Seng 26,790 -1.23


Asia stocks started trading early on Wednesday morning as the investors will be watching the US and other global markets very closely. Nikkei is currently trading at 22,001, up 13.03 points by 0.06%.

Precious Metals

Gold futures on Tuesday marked a second gain in a row, extending a climb to the highest price in about a week.

Base Metals

The three-month copper price on the London Metal Exchange fell by 0.5% at the close of trading on Tuesday September 17 but held above nearby support levels, while aluminium futures were the only positive mover in a predominantly weaker base metals complex.

Crude Oil

A slide for crude accelerated early Tuesday after a report indicated that major plants in Saudi Arabia that were damaged in a weekend strike may return online sooner than expected.


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