Morning Notes
20th Mar, 2020
 

Trading Range:

Nifty opened gap down at 8063 on Thursday and made a high and low of 8575 and 7833 respectively before closing negative at 8263.

Review/Outlook:

For the day, support for Nifty exists at 8000 and 7800 levels whereas resistance for Nifty stands at 8600 and 9000 levels.

Review/Outlook:

Bank Nifty opened gap down at 19429, made a high of 21035, low of 18676, and closed negative at 20083. For the day, support for Bank Nifty exists at 19000 and 18500 levels whereas resistance for Bank Nifty stands at 21000 and 22000 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 28,288 -2.01
Nifty 8,263 -2.42
BSE 200 3,491 -2.89
BSE Midcap 10,694 -3.70
BSE Smallcap 9,722 -4.53
Dow Jones 20,087 +0.95
NASDAQ 7,151 +2.30
 

DERIVATIVES INDICATORS FOR MAR 20, 2020:

NIFTY 8263.45 (-205.35) (-2.42%)
NIFTY MAR FUTURE 8208.90 (57.55 Points Discount)
NIFTY PCR - OI 1.15 (+0.19)
NIFTY OPEN INTEREST 1.97 Cr. (-2.49%)
INDIA VIX 72.19 (+12.89%)
NIFTY ROLLOVER 28%

NIFTY OPTIONS ACTIVITY (26-MAR SERIES)

CALL 8500 CE +4.69 lac Shares
CALL 8400 CE +1.69 lac Shares
PUT 8000 PE +4.02 lac Shares
PUT 8100 PE -3.42 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 11,712 -5.93
Bankex 22,925 -2.54
PSU 4,319 -5.12
Healthcare 11,397 -1.82
IT 11,390 -1.50
 
Market Turn Over (`cr)
Index 19/03 18/03
BSE Cash 3,386 3,365
NSE Cash 53,587 58,047
NSE F&O 1,807,622 1,010,921
BSE Delivery % 36.55 34.35
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 20.79 79.21
BSE 200 16.92 83.08
BSE 500 17.76 82.24
Total BSE 21.44 72.86
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 25.78 +2.22
Gold Rs./ 10 Gms 39831.00 +0.27
Silver Rs./ Kg 35102.00 +3.52
Rs.- US $ 75.78 +1.08
Rs.- Euro 81.06 -1.04
FII (Rs cr )
19/03* 18/03*
FIIs -5044.64 -3662.96
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    2,15,549.00     11,856.12    2,14,774.00     11,811.27    2,73,643.00     15,731.96       44.85
Index Options  44,50,677.00  2,32,650.92  44,56,424.00  2,33,213.16    8,73,181.00     52,202.99    (562.24)
Stock Futures    4,64,880.00     20,497.63    4,39,920.00     19,401.67  14,87,043.00     66,629.34  1,095.96
Stock Options       39,444.00       2,079.93       39,514.00       2,061.56       76,775.00       3,454.74       18.37
Total  51,70,550.00  2,67,084.60  51,50,632.00  2,66,487.66  27,10,642.00  1,38,019.03     596.94
Corporate News
IndiGo would implement a pay cut ranging from 5 per cent to 25 per cent for many categories of its employees from April 1. The airline also hints at a temporary cut back in capacity due to the Coronavirus outbreak around the world and drop in travel demand. (BL).
Sterlite Technologies became the first company to have announced a 'share buyback' amidst market rout. In budget, finance minister Nirmala Sitharaman had announced a 20 per cent tax on buy back of shares. The past two years saw record buy back of shares, but companies are expected to shun share buy back due to the tax. Sterlite Technologies has now dared to attempt it when such a move is most required to stabalise the share price, analysts said. (ET).
Dr Reddy’s Laboratories Ltd has launched naloxone hydrochloride injection pre-filled syringes in the US market. The launched product is a therapeutic equivalent generic version of Narcan injection approved by the USFDA. (BL).
In an attempt to push for a stronger adoption of clean energy, Tata Power is expanding its rooftop solar offerings to 90 cities in the country. (ET).
Bank of Baroda on Thursday said it will not levy any charges on digital transactions for the next three months in the wake of the coronavirus pandemic. Bank of Baroda announces zero charges on digital transactions for three months, to provide enhanced and uninterrupted banking experience to its customers, it said in a release. (BL).
Larsen & Toubro-run investment trust IndInfravit on Thursday said it has completed the acquisition of 100 per cent stake in eight operational road projects of Sadbhav Infrastructure at an enterprise value of Rs 6,300 crore. IndInfravit had entered into a definitive agreement with Sadbhav to acquire its total nine road assets on July 1, last year. (BL).
Emami board approved the buyback of the company's fully paid-up equity shares for an aggregate amount not exceeding Rs194.08cr and at a price not exceeding Rs300. The indicative maximum number of Equity Shares proposed to be bought back at the Maximum Buyback Size and Maximum Buyback Price would be 64,69,483 shares equity shares ("Maximum Buyback Shares") (representing 1.43% which is less than 25% of the existing paid-up equity capital of the Company). In more news, Muthoot Finance Ltd, India`s largest gold loan company on Tuesday 17, March 2020, declared an interim dividend of 150% i.e., Rs15 per share of Rs10 face value for the financial year 2019-20. The dividend will be paid to the shareholders on or before, the 15th day of April, 2020. (BS).
Goa Carbon Ltd said that operations at the company's Paradeep Unit located at Paradeepgarh in Odisha have resumed. (BL).
Economy and Sector News
India Ratings and Research has downgraded Power Max India Pvt Ltd’s (PMIPL) Long-Term Issuer Rating to ‘IND D’ from ‘IND C’. The downgrade reflects PMIPL’s over-utilisation of cash credit facility for more than 30 consecutive days, till end-February 2020, due to stretched liquidity. PMIPL is an Engineering, Procurement and Construction (EPC) Company, which provides integrated engineering services, such as design, infrastructure development, construction, installation of pipelines, tanks and vessels, majorly to power plants, steel, coal, alumina, and other core industries. The issue size of the company’s short-term non-fund based limits was Rs 27 crore. The long-term fund-based working capital limit was Rs 21 crore. (BL).
According to the latest official data available with the Tea Board, on the production front, calendar 2020 has opened on a positive note after India recording the highest ever output of 1390 million kg (mkg) in 2019 compared to all these years. The 2019 output was some 52 mkg more than the production of 2018. (ET).
The Novel Coronavirus (Covid-19) has cast a long shadow over a much-anticipated mild recovery in the Indian economy in fiscal 2021, with the World Health Organization (WHO) declaring it a pandemic. In view of this, Crisil has cut its base-case gross domestic product (GDP) growth forecast for fiscal 2021 to 5.2 per cent, from 5.7 per cent announced recently. (BL).
The Indian Railways have witnessed a plunge of Rs.450 crores in its earnings over the last week as around 180 trains have been cancelled in the wake of coronavirus pandemic in the country, Hindustan Times reported. According to the rail ministry, the national carrier witnessed a decline of 6.9 million passengers in the reserved category that is an 80 per cent spike in cancellation when juxtaposed to the same period last year. The fall is around 45% over the previous seven days. (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 finished higher on Thursday, helped by the latest moves from authorities to offset the fallout from the Covid-19 coronavirus pandemic, and the immediate effect of efforts to contain it. The Dow Jones Index closed at 20,087, up 188.27 points by 0.95%. The Standard & Poors 500 index closed at 2,409 up 11.29 points by 0.47%. The Nasdaq Composite Index closed at 7,150, up 160.73 points by 2.30%.

FTSE 100

UK markets was back into the green by the close on Thursday, after the Bank of England cut interest rates to 0.1% - the lowest level in history - from 0.25%, as it looked to limit the economic fallout from the coronavirus pandemic. The FTSE 100 index closed at 5,152, up 71.03 points by 1.40%.

 
 
Global Indices
19/03/2020 Clsg Chg%
Dow Jones 20,087 +0.95
NASDAQ 7,151 +2.30
FTSE 100 5,152 +1.40
Bovespa 68,331 +2.15
20/03/2020 Latest
(7:08AM IST)
Chg%
Nikkei 16,552 -1.04
Hang Seng 21,709 -2.61

Nikkei

Asian shares sought a reprieve on Friday as Wall Street eked out gains, bonds rallied and oil boasted its biggest bounce on record, though a panicked rush into U.S. dollars suggested the crisis was far from done. Nikkei is currently trading at 16,552, down 173.72 points by 1.04%.

Precious Metals

The jump in the dollar has made gold more expensive in other currencies and pushed its price down 3.7% for the week to $1,471.39 per ounce on Friday.

Base Metals

The London Metal Exchange three-month copper price slightly improved at the close on Thursday March 19, up by 2% but firmly below the $5,000-per-tonne resistance level, while nickel recorded its highest daily trading volume since November 2016.

Crude Oil

U.S. crude added another 53 cents to $26.44 a barrel on Friday, up from a low of $20.09, while Brent crude stood at $28.46.

 
 
 

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