Morning Notes
24th Feb, 2020
 

Trading Range:

Nifty opened flat at 12119 on Thursday and made a high and low of 12152 and 12071 respectively before closing negative at 12081.

Review/Outlook:

For the day, support for Nifty exists at 11980 and 11900 levels whereas resistance for Nifty stands at 12110 and 12160 levels.

Review/Outlook:

Bank Nifty opened gap up at 30862, made a high of 31085, low of 30702, and closed positive at 30943. For the day, support for Bank Nifty exists at 30600 and 30400 levels whereas resistance for Bank Nifty stands at 31100 and 31300 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 41,170 -0.37
Nifty 12,081 -0.37
BSE 200 5,093 -0.17
BSE Midcap 15,694 +0.40
BSE Smallcap 14,747 +0.51
Dow Jones 28,992 -0.78
NASDAQ 9,577 -1.79
 

DERIVATIVES INDICATORS FOR FEB 24, 2020:

NIFTY 12080.85 (-45.05) (-0.37%)
NIFTY FEB FUTURE 12079.00 (1.85 Points Discount)
NIFTY PCR - OI 1.40 (+0.02)
NIFTY OPEN INTEREST 1.44 Cr. (+1.07%)
INDIA VIX 13.70 (-2.30%)
NIFTY ROLLOVER 20%

NIFTY OPTIONS ACTIVITY (27-FEB SERIES)

CALL 12100 CE +8.52 lac Shares
CALL 12200 CE +13.28 lac Shares
PUT 12000 PE -2.06 lac Shares
PUT 11900 PE +4.15 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,365 +0.15
Bankex 35,518 +0.39
PSU 6,446 +0.47
Healthcare 14,535 +0.23
IT 16,346 -0.75
 
Market Turn Over (`cr)
Index 20/02 19/02
BSE Cash 10,705 2,142
NSE Cash 44,307 37,908
NSE F&O 3,314,285 1,739,011
BSE Delivery % 45.54 37.36
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 43.56 55.45
BSE 200 50.75 47.76
BSE 500 51.90 46.71
Total BSE 45.37 48.53
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 52.10 -2.40
Gold Rs./ 10 Gms 42666.00 +1.49
Silver Rs./ Kg 48304.00 +0.85
Rs.- US $ 71.89 +0.38
Rs.- Euro 77.92 +0.66
FII (Rs cr )
20/02* 18/02*
FIIs +1293.17 +173.32
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      44,835.00       3,278.75       51,888.00       4,031.63    1,56,035.00     13,271.03     (752.88)
Index Options  62,33,844.00  4,28,521.02  62,39,504.00  4,29,066.84    6,48,783.00     55,859.97     (545.82)
Stock Futures    2,54,363.00     17,017.68    2,50,599.00     16,920.28  15,68,271.00  1,02,815.36        97.40
Stock Options      97,093.00       6,936.77       97,097.00       6,925.59       83,952.00       5,733.24        11.18
Total  66,30,135.00  4,55,754.22  66,39,088.00  4,56,944.34  24,57,041.00  1,77,679.60  (1,190.12)
Corporate News
Notwithstanding the setback caused due to the loss of its flagship steel business to ArcelorMittal, the Essar Group has embarked on the next phase of investment-led growth. (BL).
Mukesh Ambani-led Reliance Retail has topped the list of ‘50 fastest-growing retailers globally between FY2013-2018’ in the Deloitte’s Global Powers of Retailing 2020 index. (ET).
Drug firm Alkem Laboratories on Friday said it has received two observations from the US health regulator after inspection of its Baddi facility in Himachal Pradesh. The United States Food and Drug Administration (USFDA) had conducted an inspection at the company’s manufacturing facility at Baddi from February 17 to 21, 2020. (BS).
Mahindra & Mahindra on Friday said its wholly-owned arm Mahindra Renewables will sell its entire stake in three subsidiaries to CLP India, a part of Hong Kong-based CLP Group, for nearly Rs.340 crore. (ET).
Ne Drug firm Aurobindo Pharma on Friday said the US health regulator has revoked the voluntary action initiated (VAI) status for its Unit-IV facility in Hyderabad. The company has received a communication that the inspection conducted by the US Food and Drug Administration (USFDA) at our Unit IV, from November 4 to 13, 2019 is “still open and under review, by way of rescinding the 90-day VAl letter that was issued by them on February 18, 2020,” Aurobindo Pharma said in a filing to BSE. (BS).
Hinduja Group flagship firm Ashok Leyland on Friday said it currently doesn’t foresee the coronavirus outbreak affecting its plans for migration to BS-VI emission norms, although some of its component suppliers source parts from China. (ET).
AJIO, the e-commerce arm of Reliance Retail, is exploring an entry into the luxury segment even though it is a niche market. (BS).
Biocon on Saturday said it has received three observations from the US health regulator following inspection of its insulin manufacturing facility in Malaysia. The US Food and Drug Administration (USFDA) had conducted a pre-approval inspection of Biocon’s subsidiary Biocon Sdn BHd’s manufacturing facility in Malaysia for Insulin Glargine between February 10 and 21. (BL).
Coal India’s (CIL) coal supply to the power sector registered a decline of 6.8 per cent to 377.86 million tonnes (MT) in the the April-January period of the ongoing fiscal. The commodity despatch by CIL to the power sector in the year-ago period was 405.61 MT, according to official data. (BL).
Lafarge Holcim-owned Ambuja Cement’s consolidated net profit halved to Rs.722 crore for the December quarter, against Rs.1,378 crore in the same period last year. The company’s net profit last December quarter was boosted by a one-time write-back of tax provision of Rs.873 crore. Revenue from operations was up 6 per cent at Rs.7,126 crore (Rs.6,729 crore). The company will pay a dividend of Rs.1.50 per share subject to the approval of the shareholders at the ensuing Annual General Meeting. (ET).
Max Financial Services informed the exchanges via a press release that the company and Axis Bank Limited have entered into a confidentiality and exclusivity arrangement to explore a long-term strategic partnership, subject to inter alia receipt of applicable regulatory approvals and corporate authorisations, satisfactory completion of due diligence, and execution of definitive documentations. (BL).
Economy and Sector News
Home appliances and consumer electronics brand Haier has launched 83 products in different categories, including some powered by Artificial Intelligence and Internet of Thing solutions. In more news, Natural gas prices in India are likely to be cut by a steep 25 per cent beginning April, in line with the slump in global rates, sources said. The price of most of the natural gas produced by state-owned ONGC and Oil India Ltd, which account for the bulk of India’s existing gas output, is likely to be cut to around $ 2.5 per million British thermal unit for the six-month period beginning April 1, from $ 3.23 as of now. (BL).
State-owned Coal India allocated 24.87 million tonnes of dry fuel for the spot electronic auction (e-auction) during April-January, down by 8.19 per cent over the same period last year. CIL had allocated 27.09 million tonne (mt) of coal in the year-ago period, according to the government data. For January 2020, the coal allocation for the e-auction scheme fell to 3.62 mt from 4.83 mt in the corresponding month of 2019. Thermal power seems to be on terminal decline. Generation from India’s coal power plants fell 3 per cent in April-December 2019, compared with the same period of the 2018, and 9 per cent over the target for the period. India has installed coal power capacity of 198,842 MW. Data given in the National Power Portal shows that the generation from these plants fell to 718,710 GWhr in April-December period of 2019, compared with 740,862 GWhr in the corresponding period of 2018, and the target of 791,401 GWhr. (ET).
The Centre on Saturday said it has disbursed Rs 50,850 crore to farmers so far under its landmark scheme PM-KISAN, enabling them to meet farm input cost and household expenses. The Agriculture Ministry shared the progress made under the scheme, ahead of its first anniversary on February 24. (BL).
Think tank National Council of Applied Economic Research (NCAER) on Friday pegged the economic growth for the current fiscal at 4.9 per cent, a tad down from 5 per cent estimated by the National Statistical Office (NSO). However, for 2020-21, the NCAER expects the Indian economy to improve its growth rate to 5.6 per cent. Indian economy grew by 6.1 per cent in 2018-19. GDP growth is forecast to be 4.9 per cent in Q32019-20, and 5.1 per cent in Q42019-20. The annual growth rates for 2019-20 and 2020-21 are forecast to be 4.9 per cent and 5.6 per cent, respectively. (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 closed sharply lower on Friday as new cases of the Wuhan coronavirus accelerated overnight, adding to fears that a pronounced global economic slowdown was on the horizon. The Dow Jones Index closed at 29,992, down 227.57 points by 0.78%. The Standard & Poors 500 index closed at 3,338, down 35.48 points by 1.05%. The Nasdaq Composite Index closed at 9,577, down 174.37 points by 1.79%.

FTSE 100

UK markets finished the week on Friday on a down note following another bout of selling on Wall Street late in the London session after a closely watched survey of economic conditions in the States fell sharply, pointing to a drop in activity for just the second time since the Great Financial Crisis. The FTSE 100 index closed at 7,404, down 32.72 points by 0.44%.

 
 
Global Indices
20/02/2019 Clsg Chg%
Dow Jones 28,992 -0.78
NASDAQ 9,577 -1.79
FTSE 100 7,404 -0.44
Bovespa 113,681 -0.79
24/02/2020 Latest
(6:00AM IST)
Chg%
Nikkei 23,386 -0.39
Hang Seng 27,308 -1.09

Nikkei

Asian share markets started trading early in the morning on Monday on a negative note as the investors will be closely watching the US markets. Nikkei is currently trading at 23,386, down 92.41 points by 0.39%.

Precious Metals

Gold prices now trade at their highest levels in almost seven years on Friday, as the economic impact of the COVID-19 epidemic in China has raised expectations for stimulus from global central banks to sustain economic growth, feeding talk of record $2,000-an-ounce prices and beyond for the precious metal.

Base Metals

The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday February 21, closing at its lowest level since June 2019 against thin turnover, while lead futures failed to hold onto gains made earlier in the day.

Crude Oil

Oil futures ended with a loss on Friday, pressured by a reported rift in the crude-production alliance between Saudi Arabia and Russia, as concerns about the spread of COVID-19 in China and beyond take a toll on expectations for energy demand.

 
 
 

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