Morning Notes
21st Jun, 2019

Trading Range:

Nifty opened gap down at 11654 on Thursday and made a high and low of 11843 and 11635 respectively before closing positive at 11832.


For the day, support for Nifty exists at 11780 and 11700 levels whereas resistance for Nifty stands at 11880 and 11920 levels.


Bank Nifty opened gap up at 30390, week made a high of 30825, low of 30221, and closed positive at 30781. For the day, support for Bank Nifty exists at 30500 and 30300 levels whereas resistance for Bank Nifty stands at 31000 and 31200 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 39,602 +1.25
Nifty 11,832 +1.20
BSE 200 4,926 +1.27
BSE Midcap 14,680 +1.64
BSE Smallcap 14,065 +1.05
Dow Jones 26,753 +0.94
NASDAQ 8,052 +0.80


NIFTY 11831.75 (+140.30) (+1.20%)
NIFTY JUN FUTURE 11849.45  (17.70 Points Premium)
NIFTY PCR - OI 1.55(+0.40)
NIFTY OPEN INTEREST 2.16Cr. (+2.20%)
INDIA VIX 14.00 (-4.96%)


CALL 11900 CE -1.06 lac Shares
CALL 12000 CE +2.02 lac Shares
PUT 11800 PE +11.62 lac Shares
PUT 11700 PE +10.58 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,985 +2.46
Bankex 34,607 +1.60
PSU 7,659 +1.43
Healthcare 12,796 +2.27
IT 16,027 +0.28
Market Turn Over (`cr)
Index 20/06 19/06
BSE Cash 2,443 2,318
NSE Cash 34,786 35,218
NSE F&O 2,632,425 1,536,664
BSE Delivery % 34.68 36.21
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 86.14 13.86
BSE 200 83.08 16.92
BSE 500 75.60 23.80
Total BSE 56.23 38.66
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 54.24 +0.89
Gold Rs./ 10 Gms 33079.00 +0.17
Silver Rs./ Kg 37304.00 -0.01
Rs.- US $ 69.61 -0.09
Rs.- Euro 78.22 +0.27
FII (Rs cr )
20/06* 19/06*
FIIs -22.58 +66.12
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       59,892.00       4,763.87       66,858.00       5,000.86    2,88,064.00     23,523.41    (236.99)
Index Options  65,71,057.00  4,40,767.86  65,51,685.00  4,39,259.62    7,05,235.00     58,993.19  1,508.23
Stock Futures    2,69,134.00     14,694.66    2,46,438.00     13,618.94  14,54,346.00     87,746.32  1,075.73
Stock Options    1,21,048.00       6,700.17    1,18,532.00       6,566.77       82,523.00       4,666.82     133.40
Total  70,21,131.00  4,66,926.56  69,83,513.00  4,64,446.19  25,30,168.00  1,74,929.75  2,480.36
Corporate News
The creditors of Jaypee Infratech, including homebuyers and banks, will wait for the July 2 hearing at the National Company Law Appellate Tribunal (NCLAT) before deciding on the future course of action. They need to decide on whether to consider the bids of Adani Group and Jaypee Group for the debt-ridden real estate firm. (BL).
Maruti Suzuki India on Thursday said it has increased the price of its popular compact sedan Dzire by up to Rs 12,690 on account of compliance with new safety and emission norms. (ET).
Small and Medium Enterprises (SMEs) are a vibrant and dynamic part of the Indian economy. They contribute significantly to the economic and social development of the country by fostering entrepreneurship and generating large-scale employment. BusinessLine-ICICI Bank summit will explore growth opportunities for SMEs. (BL).
L&T has finally managed to get three seats on the board of its takeover target Mindtree with its CEO and Managing Director, SN Subrahmanyan, coming in as a non-executive director. (ET).
Cairn Oil & Gas shortlisted Lloyd’s Register for the integrated project management of the 41 blocks it won during the first round of bids under the Open Acreage License Policy (OALP). (ET).
Zambia’s government expects to conclude talks with potential buyers of Vedanta Resources Ltd’s local copper unit within a month, President Edgar Lungu told Bloomberg. (BL).
Heritage Foods, a leading dairy company, has set a revenue target of Rs 6,000-crore by year 2024 as against year 2022 envisaged earlier. (ET).
NHPC will be aggregating 2,500 MW of power from coal-based power plants through e-tendering under the second leg of a Pilot Scheme notified by the Ministry of Power. (BL).
Piramal Pharma Solutions said on Thursday it has invested $10 million to expand its high-potency active pharmaceutical ingredients (HPAPIs) facility in the US. The new wing at the Riverview site is dedicated to the production of HPAPIs with low occupational exposure levels (OEL), it said in a statement. It is one of just a few companies with the capability to produce HPAPIs at low OELs, it added. (ET).
The Enforcement Directorate Thursday told a court here that the IL&FS Financial Services (IFIN), a subsidiary of the crisis-hit IL&FS Group, alone has allegedly laundered over Rs 5,000 crore of shareholder funds. In a remand application submitted to the special court here, the ED claimed the group was being run as a "personal fiefdom" by the directors, who indulged in enhancing turnover for ensuring better credit rating for group companies and also bonus-like incentives. (ET).
Moody’s on Thursday downgraded Tata Motors’ corporate family rating (CFR) and senior unsecured instruments rating, citing sustained deterioration in the company’s credit profile mainly on account of its British arm Jaguar Land Rover’s weak performances. Moody’s Investors Service also said the outlook on Tata Motors remains negative. (BL).
`The aviation ministry has distributed Jet Airways’ foreign flying rights among Indian carriers through an allocation process that was opposed by airlines such as IndiGo and GoAir, which have challenged the move in separate letters to the ministry, said people with knowledge of the matter. Government officials defended the method as transparent and fair. In more news, Jet Airways investors are waiting for the National Company Law Tribunal (NCLT) to pass an order on a plea moved by the operational creditors under section 9 of the Insolvency and Bankruptcy Code, which is scheduled to be heard on June 20, media reports stated, it said on Thursday. (ET).
Economy and Sector News
Retail and fast moving consumer goods and durables (FMCG&D) sector together is likely to add 2.76 lakh new jobs in the first six months of the current financial year following the entry of foreign retail giants, the report said. According to Teamlease Services biannual ‘Employment Outlook’ report for the April-September 2019-20, the retail sector will witness a 2 per cent increase in net employment outlook, resulting in the addition of 1.66 lakh new jobs while (FMCG/D) will see a 1 per cent growth adding 1.10 lakh new jobs. (BL).
Oyo Hotels & Homes, a lodging operator backed by SoftBank’s Vision Fund, is betting that the same formula that fuelled the company’s rapid growth in India and China can work in the US. (ET).
DBS Bank has revised India’s GDP growth for fiscal year 2020 downwards to 6.8 per cent year-on-year (YoY) from 7 per cent projected earlier, citing headwinds for exports amidst challenging trade outlook. (BL).
The government plan to more than double the number of petrol pumps in the country does not make economic sense as more number of outlets would only cut into each other’s sale, leading to some unprofitable, Crisil Research said in a report on Thursday. The three public sector oil marketing firms - Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) - in November last year advertised to open 78,493 more petrol pumps in the country. This on top of 64,624 fuel retail outlets currently operating in the country. (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 the same colour as they started on Thursday in the green as crude oil futures leapt higher as tensions in the Persian Gulf worsened sharply. The Dow Jones Index closed at 26,753, up 249.17 points by 0.94%. The Standard & Poor s 500 index closed at 2,954, up 27.72 points by 0.95%. The Nasdaq Composite Index closed at 8,051, up 64.02 points by 0.80%.

FTSE 100

UK markets finished higher on Thursday as 'dovish' comments from the US central bank overnight offset the impact from the Bank of England's decision to insist on the need for "gradual" rate hikes even as it reduced its forecasts for second-quarter growth. The FTSE 100 index closed at 7,424, up 20.90 points by 0.28%.

Global Indices
20/06/2019 Clsg Chg%
Dow Jones 26,753 +0.94
NASDAQ 8,051 +0.80
FTSE 100 7,424 +0.28
Bovespa - -
21/06/2019 Latest
(7:02 AM IST)
Nikkei 21,425 -0.18
Hang Seng 28,550 +1.24


Asian stocks struggled on Friday to track Wall Street’s exuberance about a possible U.S. rate cut next month as anxiety over Sino-U.S. trade negotiations clouded the investor mood in the region. Nikkei is currently trading at 21,425, down 37.60 points by 0.18%.

Precious Metals

Gold prices shot to their highest settlement since 2013 on Thursday, as investors flocked to the metal after the U.S. Federal Reserve left key interest rates unchanged but shifted away from its “patient” stance on monetary policy.

Base Metals

Nickel’s three-month price on the London Metal Exchange was higher at the close of trading on Thursday June 20, settling at its highest level since May 24, while the rest of the complex was buoyed by dollar weakness and strong figures from the United States labor market.

Crude Oil

Crude oil rose to three-week highs on Friday after Iran shot down a U.S. military drone, raising fears of about fresh conflict in the Middle East.


Retail Research Desk:

Akhil Rathi D: 91 22 2858 3210
Hrishikesh Yedve D: 91 22 2858 3207
Vrinda Aditya D: 91 22 2858 3209
Neeraj Sharma D: 91 22 2858 3208
Rohan Gawale D: 91 22 2858 3213
Dhiral Shah D: 91 22 2858 3211


Research Analyst Registration Number:
CIN: U65990MH1993PLC075388


Follow us on:


Information pertaining to Asit C. Mehta Investment Interrmediates Limited (ACMIIL): ACMIIL is a SEBI registered Stock Broker, Merchant Banker and Depository Participant. It is also a AMFI registered Mutual Fund Distributor. It does not have any disciplinary history. Its associate/group companies are Asit C. Mehta Commodity Services Limited, Asit C. Mehta Realty Services Pvt. Ltd, Asit C. Mehta Forex Pvt. Ltd, Nucleus IT Enabled Services , Asit C. Mehta Financial Services Limited (all providing services other than stock broking and merchant banking).

ACMIIL/its associates and its Research analysts have no financial interest in the companies covered on the report. ACMIIL/ its associates and Research analysts did not have actual/beneficial ownership of one per cent or more in the companies being covered at the end of month immediately preceding the date of publication of the research report. ACMIIL/its associates or Research analysts have no material conflict of interest, have not received any compensation/benefits for any reason (including investment banking/merchant banking or brokera3ge services) from either the companies concerned/third parties with respect to the companies covered in the past 12 months. ACMIIL/its associates and research analysts have neither managed or co-managed any public offering of securities of the companies covered nor engaged in market making activity for the companies being covered. Further, the companies covered neither are/nor were a client during the 12 months preceding the date of the research report. Further, the Research analyst/s covering the companies covered herein have not served as an officer/director or employee of the companies being covered.

This report is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon such. ACMIIL or any of its affiliates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in the report. To enhance transparency we have incorporated a Disclosure of Interest Statement in this document. This should however not be treated as endorsement of the views expressed in the report.