Morning Notes
22nd Nov, 2019

Trading Range:

Nifty opened gap up at 12026 on Thursday and made a high and low of 12028 and 11957 respectively before closing negative at 11968.


For the day, support for Nifty exists at 11890 and 11840 levels whereas resistance for Nifty stands at 12030 and 12100 levels.


Bank Nifty opened gap up at 31413, made a high of 31463, low of 31243, and closed flat at 31350. For the day, support for Bank Nifty exists at 31000 and 30800 levels whereas resistance for Bank Nifty stands at 31500 and 31700 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 40,575 -0.19
Nifty 11,968 -0.26
BSE 200 4,998 -0.32
BSE Midcap 14,759 -0.73
BSE Smallcap 13,357 -0.43
Dow Jones 27,766 -0.20
NASDAQ 8,506 -0.24


NIFTY 11968.40 (-30.70) (-0.26%)
NIFTY NOV FUTURE 11974.55 (6.15 Points Premium)
NIFTY PCR - OI 1.53(-0.05)
NIFTY OPEN INTEREST 1.61Cr. (-0.59%)
INDIA VIX 14.97 (-1.22%)


CALL 12000 CE +13.37 lac Shares
CALL 12100 CE +5.58 lac Shares
PUT 12000 PE +4.76 lac Shares
PUT 11900 PE +4.35 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,920 -0.89
Bankex 35,463 +0.00
PSU 6,979 -1.24
Healthcare 13,421 -0.38
IT 15,205 +0.08
Market Turn Over (`cr)
Index 21/11 20/11
BSE Cash 2,360 2,946
NSE Cash 42,789 44,083
NSE F&O 2,361,815 1,282,512
BSE Delivery % 37.79 41.16
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 26.73 73.27
BSE 200 27.86 71.14
BSE 500 35.33 64.27
Total BSE 39.70 53.02
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 58.31 -0.46
Gold Rs./ 10 Gms 37953.00 -0.53
Silver Rs./ Kg 44738.00 -0.18
Rs.- US $ 71.78 +0.01
Rs.- Euro 79.42 -0.11
FII (Rs cr )
21/11* 20/11*
FIIs +427.96 -626.39
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       40,039.00       3,042.35       41,717.00       3,204.57    2,23,215.00     18,558.27     (162.22)
Index Options  51,53,469.00  3,54,733.41  51,36,379.00  3,53,375.05    6,16,667.00     52,572.20   1,358.36
Stock Futures    2,28,153.00     12,768.54    2,54,900.00     13,973.40  16,04,114.00     94,492.95  (1,204.86)
Stock Options       93,839.00       5,732.04       93,762.00       5,733.25       96,687.00       5,558.27        (1.21)
Total  55,15,500.00  3,76,276.34  55,26,758.00  3,76,286.27  25,40,683.00  1,71,181.69        (9.93)
Corporate News
Hospitality management chain Sarovar Hotels and Resorts, which is now operating with a portfolio of 80 properties across the country and some overseas locations, is on course to cross the 100 properties mark by 2021 or early 2022. (BL).
Laurus Labs Ltd has completed pre-approval inspection for an Active Pharmaceutical Ingredient (API) product manufactured at its Units 1 and 3, located at JN Pharma City, Parawada, Visakhapatnam, Andhra Pradesh, with three observations from the US Food and Drug Administration (US FDA). (ET).
Sajjan Jindal, promoter of JSW Group, has released pledged shares of JSW Steel and JSW Energy worth ₹200 crore. He has so far repaid ₹3,000 crore of loans in four tranches. (BL).
Drug firm Zydus Cadila on Thursday said it has received approval from the US health regulator to market Isosorbide Dinitrate tablets used to prevent attacks of chest pain. (ET).
More than 1,350 Australian women won a seven-year-old class action lawsuit on Thursday against Johnson & Johnson (J&J) for misleading patients and surgeons about the risks of the pharmaceutical giant's pelvic mesh implants. (ET).
India's leading car manufacturer Maruti Suzuki will introduce a BS-6 petrol version of its two models, Brezza and S-Cross, before April 1, 2020, a company official has said. The new Bharat Stage (BS) 6 fuel emission norms are set to kick in from April 1, 2020. (BS).
Largest lender SBI does not "mind" its lower stock valuation compared to a leaner private sector players due to state ownership and social sector focus, but admitted that it needs to improve on commercial decisions. (BL).
KIOCL Ltd. on Thursday informed the exchanges that the Finance Minister has approved the proposal of the company for setting up of Forward and Backward Integration Projects to the Blast Furnace Unit (BFU) of KIOCL Ltd. (BL).
Economy and Sector News
Amidst uncertainties and slew of corrective measures by the Government, October recorded 28 merger and acquisition (M&A) deals worth $1.53 billion, compared to 47 deals worth $2.81 billion recorded during the same month of 2018, according to a Grant Thornton report. These included one deal valued over $500 million and three deals valued at and over $100 million each, together totalling to $1.4 billion and accounting for 91 per cent of the total M&A deal values. While the overall M&A deal values and volumes fell by 45 per cent and 40 per cent respectively, as compared to October 2018, the month witnessed a 1.8 times rise in deal values, showing signs of improved deal sentiments and appetite for big ticket deals. (BL).
The war of words over GST compensation continued between the Centre and the State governments, with West Bengal Finance Minister Amit Mitra pointing out that the dues owed to the States and three Union Territories with Legislative Assemblies total about Rs.40,000 crore. In more news, the government said on Thursday that it has distributed Kisan Credit Card (KCC) to only 8,400 fishermen in the country so far and efforts are being made to reach out to more people. To give boost to the fishery sector, the government has drafted two key Bills, which are expected to be placed in Parliament either in the ongoing or next session, it said. (ET).
The Tea Board in the Union Ministry of Commerce and Industry is tightening its screws on those bought leaf factories which have failed to pay the prescribed price for the green leaf they have bought from the small growers. In more news, Solar installations in the country increased by 44 per cent in Q3 2019, reaching 2,170 MW (2.2GW), compared to 1,510 MW in Q2 2019. Installations were up by 36 per cent year-over-year (YoY) compared to 1,592 MW in Q3 2018. However, solar installations in the first nine months (9M) of 2019 reached 5.4 gigawatts (GW), a decline of 19 per cent, compared to 6.7 GW of capacity added in 9M of 2018, according to the newly released Q3 2019 India Solar Market Update by Mercom India Research. (BL).
Electricity generation, as well as trading of power in the exchanges, have dipped in October, reflecting weakness in the Indian economy. According to a report by brokerage house Motilal Oswal, conventional electricity generation declined 13 per cent on a year-on-year in the month of October. Demand from the western region was significantly down 20 per cent and from the south too mirrored a similar trend with a reduced generation of 14 per cent YoY. (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 slid on Thursday following losses in Europe and Asia as traders weighed conflicting signals about the outlook for a trade deal between Beijing and Washington. The Dow Jones Index closed at 27,766, down 54.80 points by 0.20%. The Standard & Poors 500 index closed at 3,104, down 4.92 points by 0.16%. The Nasdaq Composite Index closed at 8,506, down 20.52 points by 0.24%.

FTSE 100

UK markets remained below the waterline at the close on Thursday, amid concerns about a lack of progress in China-US trade talks, although British Gas owner Centrica bucked the trend on the back of a well-received trading statement. The FTSE 100 index closed at 7,239, down 23.94 points by 0.33%.

Global Indices
21/11/2019 Clsg Chg%
Dow Jones 27,766 -0.20
NASDAQ 8,506 -0.24
FTSE 100 7,239 -0.33
Bovespa 107,497 +1.54
22/11/2019 Latest
(5:21AM IST)
Nikkei 23,038 -0.48
Hang Seng 26,467 -1.57


Asian stocks started trading early in the morning on Friday on a negative note as the investors will be watching the markets closely. Nikkei is currently trading at 23,038, down 109.99 points by 0.48%.

Precious Metals

Gold futures moved lower Thursday to mark the lowest settlement in over a week, as traders eyed prospects for a U.S.-China trade deal, which may lower geopolitical risk.

Base Metals

The three-month tin price on the London Metal Exchange rose by 2.4% against high turnover at the close of trading on Thursday November 21, while lead futures continued their decline over the afternoon.

Crude Oil

Oil prices registered their highest settlement in about two months on Thursday, finding support from a report that the Organization of the Petroleum Exporting Countries and its allies are likely to extend production cuts as well as renewed optimism around U.S.-China trade talks.


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

Karan Desai D: 91 22 2858 3221

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 brokerage 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.