Morning Notes
23rd Jul, 2019

Trading Range:

Nifty opened gap down at 11393 on Monday and made a high and low of 11398 and 11301 respectively before closing negative at 11346.


For the day, support for Nifty exists at 11280 and 11210 levels wheres resistance for Nifty stands at 11420 and 11470 levels.


Bank Nifty opened gap down at 29617, made a high of 29635, low of 29194, and closed negative at 29285. For the day, support for Bank Nifty exists at 29100 and 28900 levels whereas resistance for Bank Nifty stands at 29500 and 29700 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 38,031 -0.80
Nifty 11,346 -0.64
BSE 200 4,729 -0.59
BSE Midcap 13,994 -0.60
BSE Smallcap 13,156 -1.15
Dow Jones 27,172 +0.07
NASDAQ 8,204 +0.71


NIFTY 11346.20 (-73.05) (-0.64%)
NIFTY JUL FUTURE 11360.25  (14.05 Points Premium)
NIFTY PCR - OI 1.01(-0.04)
NIFTY OPEN INTEREST 1.95Cr. (-3.63%)
INDIA VIX 13.01 (+3.96%)


CALL 11350 CE +6.67 lac Shares
CALL 11400 CE +22.10 lac Shares
PUT 11200 PE +4.13 lac Shares
PUT 11300 PE +7.66 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 16,319 +0.35
Bankex 32,988 -1.42
PSU 7,324 -0.11
Healthcare 12,824 +0.40
IT 15,504 +0.32
Market Turn Over (`cr)
Index 22/07 19/07
BSE Cash 2,028 2,302
NSE Cash 32,174 38,385
NSE F&O 1,063,981 1,125,855
BSE Delivery % 38.91 42.02
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 53.47 45.54
BSE 200 46.77 52.74
BSE 500 33.53 66.07
Total BSE 28.66 65.56
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 56.22 +1.06
Gold Rs./ 10 Gms 35132.00 +0.27
Silver Rs./ Kg 41281.00 +1.47
Rs.- US $ 68.93 +0.13
Rs.- Euro 77.25 +0.03
FII (Rs cr )
22/07* 19/07*
FIIs -1083.82 -1401.54
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    1,05,697.00       8,247.78    1,17,576.00       9,333.90    2,35,736.00     18,708.60  (1,086.12)
Index Options  28,42,168.00  1,93,669.93  28,35,648.00  1,93,110.82    6,03,818.00     47,519.97      559.11
Stock Futures    4,64,244.00     27,816.82    4,44,768.00     27,098.90  14,63,976.00     90,532.65      717.92
Stock Options    1,28,363.00       7,664.37    1,27,830.00       7,669.52       72,806.00       4,370.63        (5.14)
Total  35,40,472.00  2,37,398.90  35,25,822.00  2,37,213.13  23,76,336.00  1,61,131.84      185.76
Corporate News
Tata Power is looking to scale down its international business by selling off its non-core assets and looks to double down in India, as it sees an upsurge in demand for power business in the country. (BL).
Leading two-and three-wheeler maker TVS Motor Company’s Singapore subsidiary TVS Motor (Singapore) Pte Ltd will invest $7 million in New York-headquartered Scienaptic Systems Inc. (ET).
Yet another keenly watched quarterly share holding pattern announcement from Hindustan Petroleum Corporation Ltd (HPCL) has failed to provide clarity on its promoter after Oil and Natural Gas Corporation Ltd (ONGC) bought the government’s 51.11 per cent stake in the Mumbai-based state-run oil refiner for Rs. 36,915 crore in January 2018. (BL).
Amid challenging near-term automotive market outlook and kicking-in of new regulations, leading auto component maker Rane Group has chalked out plans to maintain a decent growth and achieve revenues of Rs.7,000 crore by 2021-22. (ET).
Ratings agency CRISIL clarified that it has never rated IL&FS Ltd, IL&FS Financial Services Ltd, or any debt issued by these companies. (ET).
Bulk tea-maker McLeod Russel India Ltd, which has been facing severe liquidity issues, has rejigged its Board and made changes in top level management. (BS).
FMCG major Emami Ltd has roped in global management consultant BCG (Boston Consulting Group) to formulate a “future growth” strategy through existing “brands and emerging channels”. (BL).
The Supreme Court has ordered ‘status quo’ on the National Company Law Appellate Tribunal’s (NCLAT) approval of ArcelorMittal’s bid to acquire the insolvent Essar Steel. (BS).
The IndiGo board’s decisions taken in the last few days including amending the Articles of Association of the Company for expanding the board up to a maximum of 10, including four Independent Directors which was firmed up on Saturday have been welcomed by analysts. The board also decided to seek the shareholders’ approval at the upcoming Annual General Meeting to expand the board to enable the induction of an independent woman director. (ET).
State-owned NTPC will seek shareholders’ approval to raise Rs.15,000 crore through issuance of bonds or debentures and to raise borrowing limit to Rs.2 lakh crore, next month. (BL).
Drug firm Alembic Pharmaceuticals on Monday said it has received approval from the US health regulator for Pregabalin Capsules, indicated for management of neuropathic pain associated with certain illnesses. (BL).
Corporate Quarterly Earnings
Local search platform Just Dial on Monday said its consolidated net profit increased 48.6 per cent to Rs 57.29 crore in June 2019 quarter. The company had reported a net profit of Rs 38.54 crore in the year-ago period, it said in a regulatory filing. Revenue from operations grew 13.5 per cent to Rs 240.1 crore in the quarter under review from Rs 211.4 crore in the same period previous year, it added. (BL).
United Spirits on Thursday reported a 143% increase in net profit at Rs 197.4 crore for the quarter ended June, mainly due to improved operating performance and lower interest costs. India’s largest liquor firm, which is now controlled by Diageo Plc, reported 10% year on year increase in its total sales for the quarter at Rs 7087.9 crore. Excluding one-time sale of bulk scotch, net sales grew 6%, it said. (ET).
ICICI Securities, a subsidiary of ICICI Group, Monday reported a 15 per cent decline in the consolidated profit after tax (PAT) to Rs 114 crore for the first quarter ended June 30. In the year-ago period, consolidated PAT stood at Rs 134 crore, ICICI Securities said in a statement. The company's total income for the quarter declined 7.7 per cent to Rs 402 crore as compared with Rs 436 crore in the April-June quarter of 2018. Average assets under management (AUM) of the mutual funds distributed by the company increased 7 per cent to Rs 36,800 crore in the first quarter of 2019-20, the firm said. (ET).
Drug firm GlaxoSmithKline Pharmaceuticals Monday reported a 35 per cent rise in its standalone profit to Rs 113.54 crore for the first quarter ended June 30. The company had posted a net profit of Rs 84.08 crore for the corresponding period previous fiscal, GlaxoSmithKline Pharmaceuticals said in a BSE filing. Standalone total income of the company also rose to Rs 818.78 crore for the quarter under consideration as against Rs 753.66 crore in the same period a year ago. (BL).
Hindustan Media Ventures Monday reported over threefold jump in net profit to Rs 39.67 crore for the quarter ended June 30, 2019. The company had posted a profit of Rs 13.20 crore in the April-June quarter of 2018-19, Hindustan Media Ventures (HMVL). Total income during the quarter under review stood at Rs 239.67 crore as compared to Rs 234.65 crore in the year-ago period. (ET).
State-owned Oriental Bank of Commerce Monday reported a net profit of Rs 112.68 crore for the quarter ended June 30, 2019. The Gurugram-headquartered lender posted a net loss of Rs 393.21 crore in the same quarter of 2018-19 financial year. It clocked a profit of Rs 201.50 crore during the quarter ended March 31, 2019. Total income during April-June 2019-20 rose to Rs 5,634.98 crore from Rs 4,729.58 crore in the year-ago same period, the lender said in a regulatory filing. On asset front, gross non performing assets or NPAs came down to 12.56 per cent of gross advances as on June 30, 2019 as against 17.89 per cent at June-end 2018. Net NPAs or bad loans too fell to 5.91 per cent from 10.63 per cent in the year-ago period. (ET).
Kotak Mahindra Bank’s Q1FY20 standalone NII has improved by 22.8% yoy to Rs3,173cr against Rs2,583cr in the corresponding quarter previous year. The bank’s standalone net profit has improved by 32.7% yoy to Rs1,360cr against Rs1,025cr in Q1FY19. Its GNPA for Q1FY20 came at 2.19% against 2.14% qoq, which has increased by 5bps. NNPA for the quarter came at 0.73% against 0.75% qoq, which has decreased by 2bps. Advances as on June 30, 2019 were up 18% to Rs2.08 lakh cr. CASA ratio as on June 30, 2019 stood at 50.7% compared to 50.3% as on June 30, 2018. Capital adequacy ratio of the Bank, as per Basel III, as on June 30, 2019 is 17.8% and Tier I ratio is 17.3%. Total assets managed / advised by the Group as on June 30, 2019 were up 19% at Rs2.36 lakh cr. (BL).
Economy and Sector News
BeAble, a start-up incubated at Indian Institute of Technology (IIT-H), has won Rs.25 lakh in funding at ‘Open Innovation Challenge 2019’ of India Innovation Growth Programme (IIGP) 2.0. In more news, Japan’s Osaka Gas and JBIC have invested about $100 million in AG&P, which recently won a licence to retail gas in some Indian cities and has plans to build an LNG import terminal on the east coast. (BL).
As many as 345 infrastructure projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of over Rs 3.28 lakh crore owing to delays and other reasons, a report said. The ministry monitors infrastructure projects worth Rs 150 crore and above. Of these 1,453 projects, 345 reported cost overruns and 388 time escalation. According to the report, the expenditure incurred on these projects till April 2019 is Rs 8,84,906.88 crore, which is 40.94 per cent of the anticipated cost of the projects. (ET).
Diesel consumption in the country rose to 83.5 million tonnes while petrol consumption rose to 28.3 million tonnes during 2018-19. In response to a query in the Lok Sabha, Minister for Petroleum and Natural Gas, Dharmendra Pradhan, said petrol consumption stood at 26.2 million tonnes in 2017-18, and 23.8 million tonnes in 2016-17. Diesel consumption was at 81.1 million tonnes in 2017-18 and 76 million tonnes in 2016-17. Total auto fuel consumption during 2018-19 was 4 per cent higher while petrol consumption was 8 per cent and diesel consumption was 3 per cent higher than 2017-18 levels. (BL).
India’s farm exports have suffered early setback in the current financial year despite its flagship product, the basmati rice, clocking 19 per cent growth for April-May period in rupee terms on higher volumes. Overall exports of farm products for the period declined 8 per cent to Rs.20,345 crore over Rs.22,050 crore clocked during the corresponding period last year. Dip in volumes of products such as non-basmati rice, guargum and pulses, coupled with lower realisations, has pulled down the shipment volumes for the April-May period. (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 Monday, with attention remaining focused on the Federal Reserve as hopes of a 50 basis point cut to interest rates began to fade. The Dow Jones Index closed at 27,172, up 17.70 points by 0.07%. The Standard & Poors 500 index closed at 2,985, up 8.42 points by 0.28%. The Nasdaq Composite Index closed at 8,204, up 57.65 points by 0.71%.

FTSE 100

UK markets finished just above the waterline by the close on Monday, as the pound was dented by political woes. The FTSE 100 index closed at 7,515, up 6.23 points by 0.08%.

Global Indices
22/07/2019 Clsg Chg%
Dow Jones 27,172 +0.07
NASDAQ 8,204 +0.71
FTSE 100 7,515 +0.08
Bovespa 103,950 +0.48
23/07/2019 Latest
(5:46AM IST)
Nikkei 21,416 -0.23
Hang Seng 28,371 -1.37


Asia stocks started trading on a negative note early on Tuesday as the investors will keep a close watch on the global markets. Nikkei is currently trading at 21,416, down 50.20 points by 0.23%.

Precious Metals

Gold futures eke out a gain to settle near a 6-year high on Monday.

Base Metals

Nickel’s three-month price on the London Metal Exchange fell by 3% over the afternoon but held above the $14,000 per tonne support level at the close of trading on Monday July 22, while a predominantly negative complex was upended by tin’s 1.3% climb.

Crude Oil

Crude futures climbed 2% overnight on Monday to over $57/bbl after oil spiked late Friday on news that Iran had seized a British oil tanker in the Strait of Hormuz.


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