Morning Notes
23rd Dec, 2019

Trading Range:

Nifty opened gap up at 12266 on Friday and made a high and low of 12294 and 12253 respectively before closing positive at 12272.


For the day, support for Nifty exists at 12210 and 12160 levels whereas resistance for Nifty stands at 12320 and 12380 levels.


Bank Nifty opened gap up at 32267, made a high of 32443, low of 32199, and closed positive at 32385. For the day, support for Bank Nifty exists at 32200 and 32000 levels, where as resistance for Bank Nifty stands at 32600 and 32800 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 41,682 +0.02
Nifty 12,272 +0.10
BSE 200 5,105 +0.19
BSE Midcap 14,836 +0.15
BSE Smallcap 13,391 -0.03
Dow Jones 28,455 +0.28
NASDAQ 8,925 +0.42


NIFTY 12271.80 (+12.10) (+0.10%)
NIFTY DEC FUTURE 12290.00 (18.20 Points Premium)
NIFTY PCR - OI 1.73 (-0.02)
NIFTY OPEN INTEREST 1.63 Cr. (+1.05%)
INDIA VIX 12.32 (+1.67%)


CALL 12300 CE +3.71 lac Shares
CALL 12350 CE +4.54 lac Shares
PUT 12250 PE +6.34 lac Shares
PUT 12300 PE +6.94 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 18,207 -0.37
Bankex 36,859 +0.30
PSU 6,886 +1.02
Healthcare 13,397 -0.42
IT 15,661 +0.08
Market Turn Over (`cr)
Index 20/12 19/12
BSE Cash 2,039 1,834
NSE Cash 41,834 32,839
NSE F&O 732,177 2,812,246
BSE Delivery % 38.19 40.76
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 47.52 49.50
BSE 200 50.25 48.26
BSE 500 49.10 49.50
Total BSE 47.13 46.39
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 60.44 -1.21
Gold Rs./ 10 Gms 37991.00 -0.31
Silver Rs./ Kg 44904.00 +0.24
Rs.- US $ 71.09 -0.32
Rs.- Euro 78.76 -0.69
FII (Rs cr )
20/12* 19/12*
FIIs +836.43 +1852.60
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       37,896.00       3,190.19       30,370.00       2,481.71    1,86,655.00     16,329.13     708.48
Index Options  16,28,488.00  1,19,252.91  16,16,238.00  1,18,441.22    6,29,582.00     54,938.71     811.69
Stock Futures    4,45,247.00     27,037.33    4,10,180.00     25,858.04  15,97,052.00  1,00,990.63  1,179.29
Stock Options       79,211.00       5,259.85       78,990.00       5,245.96       60,511.00       3,491.13       13.89
Total  21,90,842.00  1,54,740.28  21,35,778.00  1,52,026.93  24,73,800.00  1,75,749.60  2,713.35
Corporate News
Reliance Industries has mounted a strong counter to the government petition in the Delhi High Court seeking to block its USD 15 billion deal with Saudi Aramco, saying the petition is an abuse of process as no arbitration award has fixed any final liability of dues on the company. In a counter affidavit, Reliance said it was a “falsehood” to say that the arbitration tribunal had passed an award requiring the company and its partners to pay USD 3.5 billion to the government. In more news, Reliance Big Synergy, a leading content development and production company, says that content consumption pattern is changing from a family viewing mode to individual use, through both television and streaming/OTT platforms. (BL).
Thomas Cook India offers tour packages for Bollywood buffs. (ET).
Johnson & Johnson is not responsible for a Missouri woman’s cancer that she blamed on asbestos-tainted talc, a jury decided in the company’s latest win in the nationwide litigation over its iconic baby powder. (BL).
Realty firm Puravankara Ltd will invest around Rs 850 crore over the next four years to develop three ultra luxury residential projects in Bengaluru, Chennai and Mumbai. The Bengaluru-based company will develop these three ultra luxury residential projects under a new brand ‘WorldHome Collection’ The company currently sells apartments under Puravankara brand and affordable homes under Provident brand. In these three housing projects, Puravankara would develop a total of 1,460 units with a built up area of 2.2 million sq ft and an estimated cost of around Rs 850 crore. (ET).
Warren Tea Ltd, one of the country’s oldest tea producers, has signed a Memorandum of Understanding with Swananda Tea Private Ltd to dispose its Sealkotee Tea estate in Assam for an estimated consideration of around Rs.19 crore. (BL).
NTPC Limited is expected to place its first bid for a stressed asset under the Insolvency Bankruptcy framework soon. According to officials in the know, NTPC is going to bid for the Jhabua Power project in Madhya Pradesh. NTPC is currently in the process of conducting due diligence for the project, but it largely meets the desired requisites. (BS).
Tata Motors, which unveiled the Nexon EV, its first electric car on Thursday for personal buyers using Ziptron - the company’s new electric vehicle technology platform - is bullish on the nascent EV market. (BL).
Anand Mahindra will step down from his role as chairman of Mahindra & Mahindra Ltd (M&M) from April 1 next year and make way for Pawan Goenka to helm the automaker as part of a succession plan necessitated by the retirement of some key leaders at the group over the next fifteen months. (ET).
Amara Raja Power Systems Limited (ARPSL), a unit of Amara Raja Group, has launched a prefabricated power sub-station through a tie up with Schneider Electric India. As per the agreement, ARPSL will manufacture a wide range of products and Schneider India will provide the back-end technology. (BL).
After operating Panna-Mukta oil and gas fields for 25 years, Royal Dutch Shell and Reliance Industries will revert the western offshore fields back to state-owned Oil and Natural Gas Corp (ONGC), the companies said in a statement. Panna-Mukta and Tapti (PMT) oil and gas fields in the Arabian Sea off the Mumbai coast were in 1994 awarded a consortium of US energy giant Enron and Reliance. ONGC, which had originally discovered the fields, as a government nominee given 40 per cent back-in rights. (BL).
The US Food and Drug Administration said on Thursday it granted approval to drugmaker Merck & Co's Ebola vaccine Ervebo, making it the first FDA-approved vaccine against the deadly virus. The vaccine was used by the World Health Organization and Democratic Republic of the Congo as an investigational vaccine to help reduce Ebola virus disease (EVD) outbreaks in few West African countries from 2014 to 2016. (ET).
Drug maker Glenmark Pharmaceuticals on Friday said that it has received approval from Australian regulator Therapeutic Goods Administration (TGA) to commercialise Ryaltris in Australia through its partner Seqirus. Ryaltris is a new fixed dose combination nasal spray of an antihistamine and a steroid indicated for treatment of symptoms associated with allergic rhinitis and rhinoconjunctivitis in patients over 12 years of age in Australia. (BL).
Water purifier maker Kent RO Systems Ltd is investing Rs 150 crore over the next three years to set up a new manufacturing unit which will help it double its overall turnover to Rs 2,000 crore, according to a top company official. The company, which has recently brought to the market a zero water wastage purifier, is looking at add capacity of 4 lakh units annually through its third unit. (BL).
The Department of Telecommunications has sought Rs 1.72 lakh crore in past statutory dues from state-owned gas utility GAIL India Ltd following the Supreme Court's ruling on revenues that need to be taken into consideration for payment of government dues. Sources with direct knowledge of the development said DoT sent a letter to GAIL last month seeking Rs 1,72,655 crore in dues on IP-1 and IP-2 licences as well as Internet Service Provider (ISP) licence. (BL).
Economy and Sector News
As many as 377 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of more than Rs 3.94 lakh crore owing to delays and other reasons, according to a report. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of such 1,635 projects, 377 projects reported cost overruns and 565 projects time escalation. (BL).
Fitch Ratings on Friday cut India’s GDP growth forecast for 2019-20 fiscal year to 4.6 per cent on deterioration in business and consumer confidence. It affirmed India’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-’ with a Stable Outlook. Fitch said growth will gradually recover to 5.6 per cent in FY21 and 6.5 per cent in the following year with support from easing monetary and fiscal policy and structural measures. (ET).
The Maharashtra government has unearthed the large-scale adulteration of complex or mixed fertilisers, which are used for specific crops. These fertilisers caused wrongful gains to the seller syndicate and losses to farmers, it said. A senior officer, in an affidavit before the Bombay High Court, said that farmers’ suicides have been due to poor yields. One of the reasons for the poor yield was substandard or bogus fertilisers, spurious organic fertilisers and inferior quality insecticide. In more news, domestic fuel prices have firmed up in recent days on global cues, according to Minister for Petroleum and Natural Gas Dharmendra Pradhan. (BL).
Hyderabad-based Turbo Aviation Private Limited is the latest to express interest for acquiring the defunct Jet Airways in the ongoing corporate insolvency resolution process, said three persons in the know. Ashish Chhawchharia, the appointed resolution professional of Jet Airways, had recently informed the Mumbai bench of the National Company Law Tribunal (NCLT) on December 17 that two entities had shown early interest to invest in in the grounded airline. (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 recorded more gains on Friday as investors again shrugged off news of the President's impeachment and digested some positive trade headlines. The Dow Jones Index closed at 28,455, up 78.13 points by 0.28%. The Standard & Poors 500 index closed at 3,221, up 15.85 points by 0.49%. The Nasdaq Composite Index closed at 8,925, up 37.74 points by 0.42%.

FTSE 100

UK markets ticked a little higher on Friday as third-quarter UK economic growth was revised up, but gains were unspectacular as the pre-Christmas lull prevailed. The FTSE 100 index closed at 7,582, up 8.66 points by 0.11%.

Global Indices
20/12/2019 Clsg Chg%
Dow Jones 28,455 +0.28
NASDAQ 8,925 +0.42
FTSE 100 7,582 +0.11
Bovespa 115,121 -0.01
23/12/2019 Latest
(4:20AM IST)
Nikkei 23,817 -0.20
Hang Seng 27,872 +0.25


Asian markets started trading early in the morning on Monday on a negative note as the investors watch the US markets closely. Nikkei is currently trading at 23,817, down 48.22 points by 0.20%.

Precious Metals

Gold prices finished lower Friday, but ended higher for the week, after U.S. economic growth for the third-quarter came in steady at 2.1%, taking a slight shine off the precious metal.

Base Metals

Base metals on the London Metal Exchange broadly closed down in the afternoon on Friday December 20, once more capped by a stronger US dollar index, trading up 0.29% at 97.69 this afternoon, ignoring better-than-expected economic indicators from China.

Crude Oil

U.S. oil shares held onto sharp losses midday Friday after a weekly report from Baker Hughes reported that the number of active U.S. rigs drilling for oil rose by 18 to 685 this week, marking a second straight rise in rigs.


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