Morning Notes
19th Sep, 2019
 

Trading Range:

Nifty opened gap up at 10873 on Wednesday and made a high and low of 10885 and 10805 respectively before closing positive at 10841.

Review/Outlook:

For the day, support for Nifty exists at 10780 and 10710 levels whereas resistance for Nifty stands at 10910 and 10980 levels.

Review/Outlook:

Bank Nifty opened gap up at 27305, made a high of 27414, low of 27089, and closed positive at 27173. For the day, support for Bank Nifty exists at 27000 and 26800 levels whereas resistance for Bank Nifty stands at 27400 and 27600 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 36,563 +0.23
Nifty 10,841 +0.21
BSE 200 4,547 +0.28
BSE Midcap 13,439 +0.39
BSE Smallcap 12,894 +0.30
Dow Jones 27,147 +0.13
NASDAQ 8,177 -0.11
 

DERIVATIVES INDICATORS FOR SEP 19, 2019:

NIFTY 10840.65 (+23.05) (+0.21%)
NIFTY SEP FUTURE 10855.45 (14.80 Points Premium)
NIFTY PCR - OI 1.02(+0.03)
NIFTY OPEN INTEREST 2.04Cr. (-0.65%)
INDIA VIX 15.35 (-4.15%)
NIFTY ROLLOVER 16%

NIFTY OPTIONS ACTIVITY (26-SEP SERIES)

CALL 10950 CE +4.32 lac Shares
CALL 10800 CE +1.59 lac Shares
PUT 10800 PE +1.17 lac Shares
PUT 10700 PE +1.40 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 15,767 -0.10
Bankex 30,668 +0.24
PSU 6,491 +1.09
Healthcare 12,882 +0.27
IT 15,957 +0.34
 
Market Turn Over (`cr)
Index 18/09 17/09
BSE Cash 2,046 2,001
NSE Cash 28,447 31,616
NSE F&O 1,433,688 1,366,981
BSE Delivery % 37.35 46.96
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 62.38 35.64
BSE 200 59.70 38.31
BSE 500 52.69 45.71
Total BSE 47.46 46.48
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 58.16 +0.09
Gold Rs./ 10 Gms 37849.00 -0.44
Silver Rs./ Kg 46592.00 -1.62
Rs.- US $ 71.27 -0.38
Rs.- Euro 78.61 -0.77
FII (Rs cr )
18/09* 17/09*
FIIs -680.61 -792.26
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          81,088.00          5,813.76          75,091.00          5,271.64      2,53,889.00       19,281.26         542.12
Index Options    46,27,007.00    2,88,801.82    46,52,022.00    2,90,456.54      8,70,291.00       65,254.86   (1,654.72)
Stock Futures      2,26,668.00       12,418.16      2,16,208.00       11,816.97    15,53,867.00       90,898.86         601.19
Stock Options      1,10,109.00          6,222.93      1,09,595.00          6,191.53          76,443.00          4,137.97           31.40
Total    50,44,872.00    3,13,256.67    50,52,916.00    3,13,736.68    27,54,490.00    1,79,572.95       (480.01)
Corporate News
McLeod Russel India Ltd (MRIL), part of the BM Khaitan-controlled Williamson Magor Group, on Wednesday urged the Kolkata Bench of the National Company Law Tribunal (NCLT) not to continue with its interim order of status quo on the sale of the company’s assets. (BL).
Billionaire Mukesh Ambani has raised promoter stake in flagship Reliance Industries by 2.71 per cent to 48.87 per cent, according to regulatory filing by the company. Reliance Services and Holdings Ltd, controlled by promoter group firm Petroleum Trust, acquired 17.18 crore shares or 2.71 per cent stake in Reliance on September 13, it said. The acquisition was pursuant to a scheme of arrangement not directly involving Reliance, the filing said without giving details. (ET).
JSW Steel has cut its capital expenditure plans in the US by 60 per cent to $400 million due to weak demand and a slowing economy. However, the company has decided to go ahead with its Rs.15,000-crore capex plan in India despite the sharp drop in demand amid liquidity concerns. (BL).
SRF Ltd, a leading manufacturer of technical textiles, engineering plastics, chemicals and packaging films, has decided to shut operations at Rayong in Thailand and sell the asset as production at the site has become unviable. (ET).
Mumbai’s Ruia family-owned Essar plans to double production of coal-seam gas or coal-bed methane (CBM) from its Raniganj east block in West Bengal as a vital Urja-Ganga gas pipeline connecting users in eastern India gets commissioned by year-end, a company official said on Wednesday. (ET).
NTPC Ltd. plans to set up a 5 gigawatt solar park in Gujarat, which would be the biggest in the country, as the top electricity generator shifts toward cleaner energy. (BL).
The National Company Law Appellate Tribunal (NCLAT) on Wednesday directed resolution professional (RP) of Reliance Communications (RCom) to raise demand for Rs 577 crore paid to Swiss telecom gear maker Ericsson before the NCLT-Mumbai. (ET).
Post the decision to recast its media business, Hinduja Ventures is in talks with other multi-system operators to expand its managed services vertical by leveraging its Headend in the Sky (HITS) infrastructure. (ET).
Economy and Sector News
The Union Cabinet in its meeting has approved the banning of e-cigarettes in the country. In more news, Mother Dairy, one of India’s largest milk producers, on Wednesday said it would collect and recycle 60 per cent of the multi-layered packaging (MLP) (i.e around 832 tonnes of plastic) used by the company from 25 states. (BL).
Direct tax collection numbers for the half year to September have brought some cheer for the government, which is battling revenue shortfalls. The numbers for April-September (2019-20) have edged past those from the same period last year, but they are still well short of the target. According to sources, the total direct tax collection was about Rs.5.5-lakh crore against Rs.5.25-lakh crore during April-September 2018-19. The net collection (deducting refunds) was about Rs.4.5-lakh crore (against Rs.4.25-lakh crore). Advance tax collection touched Rs.2.2-lakh crore (against Rs.2.05-lakh crore). The government has set a direct tax collection target of Rs.13.35-lakh crore for this fiscal year, which is 16 per cent higher than the Budget estimate (Rs.11.50-lakh crore) and 11.25 per cent higher than the revised estimate (Rs.12-lakh crore). To meet the target, tax authorities now have to collect Rs.7.85-lakh crore in six months, a growth of over 20 per cent, which seems challenging. In more news, Petrol and diesel prices were on Wednesday hiked by 24-25 paise per litre, the steepest increase since July 5 Union Budget, as a fallout of turmoil in global oil markets following drone attacks on Saudi Arabian crude oil facilities. Petrol price was increased by 25 paise per litre to Rs.72.42 and diesel by 24 paise to Rs.65.82 in the Delhi market. (ET).
As a result of the increased level of adoption of rainguarding by rubber growers, natural rubber (NR) production during the month of July 2019 went up by 14,000 tonnes on a year-on-year basis. The production recorded in July was 60,000 tonnes while it was 46,000 tonnes in July 2018. In more news, Indian listed firms raised around Rs 7,000 crore by issuing NCDs in the first five months of this fiscal, a plunge of 67 per cent year-on-year, due to decline in investors’ confidence following a series of payment defaults. In comparison, companies had mobilised Rs 21,048 crore through this route in April-August 2018-19, according to latest data with Securities and Exchange Board of India (SEBI). However, in terms of volume, there were 14 non-convertible debenture (NCD) issues in the first five months of 2019-20 as against 6 in 2018-19. (BL).
The government has notified the decisions on liberalising foreign direct investment (FDI) regulations in single brand retail, coal mining, contract manufacturing and digital media taken by the Cabinet late last month but clarity has not yet been provided on the definition of digital media and related issues. According to the press note 4 of 2019 issued by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Commerce and Industry Ministry on Wednesday, all the decisions on FDI regulations will take effect from the date of FEMA notification. In more news, the labour ministry has proposed to hand over control of the over Rs 10 lakh crore corpus of provident fund, pension and insurance schemes under the Employees’ Provident Fund Organisation (EPFO) to a central body, which will have a central government-appointed chairman. Unlike the central board of trustees of the EPFO, the labour minister will no longer be the chairman of the board, as per the proposal. (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 ended Wednesday flat to higher, after the Federal Reserve announced it would cut its benchmark federal funds rate a quarter percentage point, in line with market expectations, but included language in its accompanying statement and economic projections that called into question whether there will be another rate cut this year or next. The Dow Jones Index closed at 27,147, up 36.28 points by 0.13%. The Standard & Poors 500 index closed at 3,007, up 1.03 points by 0.03%. The Nasdaq Composite Index closed at 8,177, down 8.62 points by 0.11%.

FTSE 100

UK markets were little changed on Wednesday as investors mulled UK inflation data while they waited for the latest policy announcement from the US Federal Reserve. The FTSE 100 index closed at 7,314, down 6.35 points by 0.09%.

 
 
Global Indices
18/09/2019 Clsg Chg%
Dow Jones 27,147 +0.13
NASDAQ 8,177 -0.11
FTSE 100 7,314 -0.09
Bovespa 104,532 -0.08
19/09/2019 Latest
(5:42AM IST)
Chg%
Nikkei 21,961 -0.18
Hang Seng 26,754 -0.13

Nikkei

Asia stocks started trading early on Thursday morning on a negative note as the investors will be watching the US and other global markets very closely. Nikkei is currently trading at 21,961, down 40.61 points by 0.18%.

Precious Metals

Gold futures ended higher Wednesday for a third session in a row, then moved lower in electronic trading after the Federal Reserve announced a quarter-percentage point cut to a key interest rate, lifting the dollar and pressuring prices for the dollar-denominated yellow metal.

Base Metals

The three-month nickel price on the London Metal Exchange was higher at the close of trading on Wednesday September 18, with the price breaching the nearby resistance value amid low trading volumes, while the rest of the base-metals complex continued to consolidate.

Crude Oil

Oil futures fell on Wednesday, after suffering a sharp loss a day earlier, pressured as Saudi Arabia’s output levels looked to recover much sooner than expected and the U.S. government reported a weekly rise in domestic crude inventories, following four consecutive weeks of declines.

 
 
 

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