Morning Notes
18th Dec, 2019
 

Trading Range:

Nifty opened gap up at 12082 on Tuesday and made a high and low of 12183 and 12070 respectively before closing positive at 12165.

Review/Outlook:

For the day, support for Nifty exists at 12110 and 12000 levels whereas resistance for Nifty stands at 12210 and 12300 levels.

Review/Outlook:

Bank Nifty opened gap up at 32082, made a high of 32213, low of 31987, and closed positive at 32140. For the day, support for Bank Nifty exists at 32000 and 31800 levels whereas resistance for Bank Nifty stands at 32300 and 32500 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 41,352 +1.01
Nifty 12,165 +0.92
BSE 200 5,066 +0.85
BSE Midcap 14,818 +0.38
BSE Smallcap 13,394 +0.66
Dow Jones 28,267 +0.11
NASDAQ 8,823 +0.10
 

DERIVATIVES INDICATORS FOR DEC 18, 2019:

NIFTY 12165.00 (+111.05) (+0.92%)
NIFTY DEC FUTURE 12187.15 (22.15 Points Premium)
NIFTY PCR - OI 1.67(+0.24)
NIFTY OPEN INTEREST 1.53 Cr. (+3.35%)
INDIA VIX 12.51 (-6.69%)
NIFTY ROLLOVER 12%

NIFTY OPTIONS ACTIVITY (26-DEC SERIES)

CALL 12250 CE +1.17 lac Shares
CALL 12350 CE +1.21 lac Shares
PUT 12100 PE +6.19 lac Shares
PUT 12200 PE +4.46 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,995 +0.54
Bankex 36,668 +0.50
PSU 6,865 +0.37
Healthcare 13,354 -0.19
IT 15,440 +1.69
 
Market Turn Over (`cr)
Index 17/12 16/12
BSE Cash 2,347 1,944
NSE Cash 36,317 29,080
NSE F&O 999,956 862,838
BSE Delivery % 47.56 48.74
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 71.29 28.71
BSE 200 65.67 34.33
BSE 500 63.47 35.93
Total BSE 53.20 39.82
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 60.54 +0.55
Gold Rs./ 10 Gms 37940.00 +0.18
Silver Rs./ Kg 44505.00 +0.03
Rs.- US $ 71.03 +0.01
Rs.- Euro 79.21 +0.15
FII (Rs cr )
17/12* 16/12*
FIIs +869.61 +117.49
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       31,707.00       2,651.10       32,755.00       2,695.52    1,74,362.00     15,127.58    (44.42)
Index Options  22,72,933.00  1,65,429.46  22,80,497.00  1,66,126.89    6,13,448.00     53,122.21  (697.43)
Stock Futures    2,38,888.00     14,752.21    2,25,689.00     14,092.27  15,94,408.00     96,701.92   659.94
Stock Options       65,270.00       4,286.86       66,134.00       4,356.45       66,434.00       3,808.14    (69.59)
Total  26,08,798.00  1,87,119.63  26,05,075.00  1,87,271.13  24,48,652.00  1,68,759.85  (151.50)
Corporate News
Lenders and homebuyers have voted in favour of NBCC’s bid to acquire Jaypee Infratech. Around 97.36 per cent votes went in the favour of state-owned NBCC’s bid, making the resolution successful in the third attempt. Homebuyers had a vote share of 58 per cent in the bidding process while the remaining 42 per cent was that of the lenders. Around 66 per cent votes are required for a bid to get through the resolution process. (BL).
Elgi Compressors USA, Inc, a subsidiary of Coimbatore-headquartered air compressor manufacturing major Elgi Equipments, has acquired Michigan Air Solutions, an independent distributor of air compressors in Michigan. The acquisition will help Elgi expand its presence in the US and strengthen its position in the global compressed air industry, said Jairam Varadaraj, Managing Director, Elgi Equipments. (ET).
CG Power and Industrial Solutions has got shareholders' approval to borrow up to Rs 5,000 crore to meet working capital. In a filing to the exchanges, the fraud-hit company said that 99.99 per cent of shareholders, on December 14, voted in favour of a resolution moved for raising borrowing limit. This decision was taken at the company's annual general meeting in Mumbai. (BL).
Drug maker Lupin on Tuesday said its subsidiary Nanomi BV has completed divestment of its entire stake in Kyowa Pharmaceutical Industry to Japan-based equity fund Unison Capital Partners. Nanomi BV held 99.82 per cent stake in Japan-based Kyowa, Lupin said in a statement. (ET).
Antiretroviral manufacturer, Hetero, has launched its 3-in-1 antiretroviral combination drug ,Taffic, in the domestic market with due approval from the Drug Controller General of India (DCGI). The product will be marketed and distributed by Hetero Healthcare Ltd. in India. (BL).
Tata Motors expects commercial vehicle (CV) business to remain in slow lane for the next few months and witness turnaround only by the second half of the next fiscal, a top company official said.. (BL).
Jindal Steel and Power Ltd (JSPL) hopes to become debt free in the next 3-4 years, its Chairman Naveen Jindal said on Tuesday. Speaking at the India Economic Conclave 2019, he however said his company will no longer expand in newer areas. (BL).
Markets regulator Sebi on Tuesday ordered impounding of alleged unlawful gains of more than Rs 8 crore made by two promoters and related entities of PC Jeweller in an insider trading case. The two promoters are Shivani Gupta and Sachin Gupta, and others are Amit Garg and Quick Developers Pvt Ltd (QDPL). The latest ruling comes after a probe into the movement of share price of PC Jeweller during the April-July 2018 period. The watchdog looked at whether entities entities had traded in the scrip on the basis of Unpublished Price Sensitive Information (UPSI) pertaining to the company's buyback of shares. (BL).
YES Bank is on track to raise the much-needed capital, its CEO Ravneet Gill said on Tuesday. (BL).
Co-optition is the new buzzword in India's fast growth bg video streaming market. While competing with Netflix through its OTT app Voot, Viacom18 has managed to partner with Netflix through its content arm, Viacom18 Studios. Under the new partnership, Netflix will showcase three off the series created by Viacom18 Studios' digital content arm, Tipping Point. (BL).
Economy and Sector News
Japanese multinational bank Sumitomo Mitsui Banking Corporation has picked up a 5.4 per cent equity stake in Northern Arc Capital, a debt capital platform that caters to un-banked and under-banked individuals and businesses, for an undisclosed amount. In more news, Fresh meat and seafood brand Licious has raised $30 million in Series E funding round. The round was led by Singapore-basedVertex Growth Fund along with existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, and Sistema Asia Fund. Including this round, Licious has raised a total of $95 million to date. (BL).
International trade is expected to slow down both internationally and domestically according to a report by the Confederation of Indian Industry. The report titled ‘India’s Exports: Trends, Challenges and Future Strategy’, said that this slowdown traces itself to an increase in protectionism across the world, as the ongoing US-China trade war shows. (ET).
In the run up to the Budget, life insurance companies have pitched for increasing the cap for foreign direct investment (FDI) in the sector from 49 per cent to 74 per cent. The issue was taken up at a recent general body meeting of the Life Insurance Council, where life insurance companies were on the same page vis-a-vis the proposal to hike the FDI ceiling in the sector. (BL).
With a high possibility of fiscal slippage, the Finance Ministry has drawn a fresh strategy to boost the tax collection during the remaining period of the current fiscal ending on March 31, 2020. Data shows that the net direct tax collection for the period from April to November was Rs 5.56 lakh crore, as against Rs 5.47 lakh crore. Similarly, the net GST collection (CGST+IGST+Compensation cess) was Rs 3.98 lakh crore as against Rs 5.82 lakh crore during last fiscal. (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 Tuesday as market participants awaited further updates on Washington and Beijing's trade war ceasefire. The Dow Jones Index closed at 28,267, up 31.27 points by 0.11%. The Standard & Poors 500 index closed at 3,193, up 1.07 points by 0.03%. The Nasdaq Composite Index closed at 8,823, up 9.13 points by 0.10%.

FTSE 100

UK markets finished on a mixed note on Tuesday, with domestic stocks under the cosh amid worries about a no-deal Brexit but losses on the top-flight index kept in check as the pound gave up its post-election gains. The FTSE 100 index closed at 7,525, up 6.23 points by 0.08%.

 
 
Global Indices
17/12/2019 Clsg Chg%
Dow Jones 28,267 +0.11
NASDAQ 8,823 +0.10
FTSE 100 7,525 +0.08
Bovespa 112,616 +0.64
18/12/2019 Latest
(4:20AM IST)
Chg%
Nikkei 24,066 +0.47
Hang Seng 27,844 +1.22

Nikkei

Asian stocks started trading early in the morning on Wednesday on a positive note as the investors will be closely watching the US markets. Nikkei is currently trading at 24,066, up 113.77 points by 0.47%.

Precious Metals

Gold held its ground above the $1,480-an-ounce mark on Tuesday, consolidating in the wake of last week’s “phase-one” U.S.-China trade deal.

Base Metals

The nickel price closed down more than 1.6% on the London Metal Exchange on Tuesday December 17, seemingly succumbing to inventory pressure.

Crude Oil

The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 4.7 million barrels for the week ended Dec. 13.

 
 
 

Retail Research Desk:

Akhil Rathi D: 91 22 2858 3210
Hrishikesh Yedve D: 91 22 2858 3207
Neeraj Sharma D: 91 22 2858 3208
Rohan Gawale D: 91 22 2858 3213

Karan Desai D: 91 22 2858 3221
Email: retailresearch@acm.co.in

Research Analyst Registration Number:
INH000002483
CIN: U65990MH1993PLC075388

 
 

Follow us on:

 
 
           
 

Information pertaining to Asit C. Mehta Investment Interrmediates Limited (ACMIIL): ACMIIL is a SEBI registered Stock Broker, Merchant Banker and Depository Participant. It is also a AMFI registered Mutual Fund Distributor. It does not have any disciplinary history. Its associate/group companies are Asit C. Mehta Commodity Services Limited, Asit C. Mehta Realty Services Pvt. Ltd, Asit C. Mehta Forex Pvt. Ltd, Nucleus IT Enabled Services , Asit C. Mehta Financial Services Limited (all providing services other than stock broking and merchant banking).

Disclosures
ACMIIL/its associates and its Research analysts have no financial interest in the companies covered on the report. ACMIIL/ its associates and Research analysts did not have actual/beneficial ownership of one per cent or more in the companies being covered at the end of month immediately preceding the date of publication of the research report. ACMIIL/its associates or Research analysts have no material conflict of interest, have not received any compensation/benefits for any reason (including investment banking/merchant banking or brokerage services) from either the companies concerned/third parties with respect to the companies covered in the past 12 months. ACMIIL/its associates and research analysts have neither managed or co-managed any public offering of securities of the companies covered nor engaged in market making activity for the companies being covered. Further, the companies covered neither are/nor were a client during the 12 months preceding the date of the research report. Further, the Research analyst/s covering the companies covered herein have not served as an officer/director or employee of the companies being covered.

Disclaimer:
This report is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon such. ACMIIL or any of its affiliates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in the report. To enhance transparency we have incorporated a Disclosure of Interest Statement in this document. This should however not be treated as endorsement of the views expressed in the report.