Morning Notes
25th Sep, 2019

Trading Range:

Nifty opened flat to negative at 11591 on Tuesday and made a high and low of 11655 and 11539 respectively before closing negative at 11588.


For the day, support for Nifty exists at 11530 and 11480 levels whereas resistance for Nifty stands at 11650 and 11710 levels.


Bank Nifty opened gap down at 30432, made a high of 30668, low of 29890, and closed negative at 30183. For the day, support for Bank Nifty exists at 29900 and 29600 levels whereas resistance for Bank Nifty stands at 30400 and 30700 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 39,097 +0.02
Nifty 11,588 -0.10
BSE 200 4,857 -0.16
BSE Midcap 14,481 -0.51
BSE Smallcap 13,588 +0.17
Dow Jones 26,808 -0.53
NASDAQ 7,994 -1.46


NIFTY 11588.20 (-12.00) (-0.10%)
NIFTY SEP FUTURE 11613.85 (25.65 Points Premium)
NIFTY PCR - OI 1.44(-0.07)
NIFTY OPEN INTEREST 2.21Cr. (-2.46%)
INDIA VIX 16.73 (-0.36%)


CALL 11700 CE +6.55 lac Shares
CALL 11600 CE +2.08 lac Shares
PUT 11500 PE +8.86 lac Shares
PUT 11600 PE +3.98 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,397 -0.57
Bankex 34,045 -1.25
PSU 6,776 -1.52
Healthcare 12,999 +0.24
IT 15,416 +2.31
Market Turn Over (`cr)
Index 24/09 23/09
BSE Cash 2,992 5,073
NSE Cash 43,848 64,030
NSE F&O 1,369,103 1,431,999
BSE Delivery % 36.52 35.17
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 40.59 59.41
BSE 200 40.30 59.20
BSE 500 45.51 53.09
Total BSE 42.66 51.56
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 56.84 -0.79
Gold Rs./ 10 Gms 38108.00 +0.49
Silver Rs./ Kg 48022.00 -0.19
Rs.- US $ 71.19 +0.54
Rs.- Euro 78.38 +0.68
FII (Rs cr )
24/09* 23/09*
FIIs +2804.28 +592.64
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    1,49,434.00     12,109.64    1,39,098.00     11,223.43    2,93,790.00     24,329.58   886.21
Index Options  37,68,199.00  2,67,240.98  37,69,918.00  2,67,259.42    9,72,509.00     77,811.38    (18.44)
Stock Futures    7,52,394.00     45,163.58    7,63,352.00     45,981.83  16,14,774.00  1,00,080.28  (818.25)
Stock Options    1,20,778.00       7,434.20    1,22,409.00       7,487.16       89,829.00       5,333.58    (52.96)
Total  47,90,805.00  3,31,948.40  47,94,777.00  3,31,951.84  29,70,902.00  2,07,554.82      (3.44)
Corporate News
Earnings growth at Mukesh Ambani-led Reliance Industries Ltd is starting to be de-risked on the back of better refining margins, lower tax rate and cheaper gas feedstock costs, Morgan Stanley said in a note. (BL).
Engineering products and solutions company Pennar Industries Ltd announced it is doubling its Cold Drawn Welded (CDW) tubes manufacturing capacity from 1,500 MT per month to 3,000 MT per month with an outlay of Rs 65 crore. (ET).
The sale of Zee Entertainment's pledged shares by mutual fund companies over the past few days has brought some respite to the company promoters as the overall debt has come down by Rs.1,500 crore. (BL).
Oaktree Capital, a leading global alternative investment management firm, has moved a step closer to taking control of the entire wholesale book of crisis-ridden DHFL. (ET).
Gurgaon-based luxury malls developer, DLF is planning to focus more on food and beverages (F&B) and allocate around 20 per cent of space to the dining options across its project offerings, a senior company official said. (ET).
Adani Enterprises Limited (AEL) has incorporated a Company namely "Adani Guwahati International Airport Limited" on 2nd September 2019. Adani Guwahati International Airport Limited will carry out the operations e. maintenance related activities of Lokpriya Gopinath Bordoloi International Airport located at Guwahati, Assam and is yet to commence its business operations. (BL).
As many as 17 Indian companies, including Infosys, TCS, and HDFC, have been named in the list of World’s Best Regarded Companies compiled by Forbes. IT major Infosys has been ranked third in the list of World’s Best Regarded Companies, along with global payments technology company Visa and Italian car-maker Ferrari on the first and second position, respectively. (ET).
Biotech major Biocon has announced that its subsidiary, Biocon Biologics, has acquired R&D capital assets for a 60,000-sq ft ‘bench to pilot scale’ biologics research facility at TICEL Bio Park in Chennai. Biocon Biologics has acquired these assets from Pfizer Healthcare India. (ET).
Sterlite Power, a power transmission assets developer, will take the assistance of robots to install certain high sensitive equipments. The company will use robotic technology for installation of optical ground wire on high voltage power transmission lines. An optical ground wire is a type of cable that is used in overhead power lines. This cable combines the functions of grounding and communications. (BS).
Moody's Investors Service has assigned a Ba2 rating to the proposed senior unsecured notes to be issued by JSW Steel Limited (Ba2 positive). The rating outlook is positive. The proposed notes rank pari passu with JSW's existing senior unsecured notes and are therefore rated at the same level as these notes, and also at the same level as JSW's Ba2 corporate family rating (CFR). In more news, JSW Steel plans to raise funds from the overseas market for its capital expansion. The company will be investing upto Rs 15,000 crore this fiscal amid slowing demand and rising inventory in the industry. (BL).
Kajaria Ceramics announced on Tuesday that the Board of Directors of the Company has considered and approved the scheme of amalgamation for the merger of Kajaria Tiles Private Limited (Formerly known as Kajaria Floera Ceramics Private Limited), wholly-owned subsidiary of the Company with the Company, subject to requisite statutory and regulatory approvals under applicable laws including approval of the National Company Law Tribunal. (ET).
Economy and Sector News
The Labour Ministry on Tuesday notified 8.65 rate of interest on Employees’ Provident Fund (EPF) for 2018-19. This will enable crediting the interest amount of Rs 54,000 crore into accounts of over 6 crore subscribers. Besides, it would enable Employees’ Provident Fund Organisation (EPFO) to settle withdrawal claims on this rate. This 8.65 per cent rate of interest is 10 basis points higher than that for 2017-18. The rate was raised to 8.65 per cent for the previous financial year from 8.55 per cent provided in 2017-18. The EPFO had earlier reduced the interest rate for 2016-17 to 8.65 per cent as compared with 8.8 per cent for 2015-16. (BL).
The Reserve Bank of India has ordered Punjab and Maharashtra Co-operative (PMC) Bank not to do any business for six months and capped depositor withdrawals at Rs 1,000, throwing the lives of thousands of traders, self-employed and daily wage earners into disarray. The regulator has also appointed an administrator for the bank. (ET).
South Korean automaker Hyundai indicated that with world class manufacturing capabilities, its Chennai factory continues to play a major role in boosting the automaker’s global exports. Amid slow down in the Indian market, Hyundai’s car exports from India continue to grow in double digits. During the first 5-month period of this fiscal, Hyundai’s exports from India grew 20 per cent at 86,300 units compared with 71,465 units, according to a company statement. (BL).
The Narendra Modi government is seeking to regulate India’s booming gig economy by bringing lakhs of workers hired by food delivery firms, Swiggy and Zomato, and ride hailing firms, Uber and Ola, under a social security scheme. The move forms a key part of the new ‘Code on Social Security’ drafted by the government and is aimed at ensuring the social security needs of gig workers, but it could create a furore among gig economy giants, which have made freelance workers the backbone of their business. (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 into the red by the close on Tuesday, despite opening strongly after Treasury Secretary Steven Mnuchin confirmed that trade talks between China and the US would resume next month. The Dow Jones Index closed at 26,808, down 142.22 points by 0.53%. The Standard & Poors 500 index closed at 2,967, down 25.18 points by 0.84%. The Nasdaq Composite Index closed at 7,994, down 118.83 points by 1.46%.

FTSE 100

UK markets slid further into the red by the close on Tuesday, while sterling enjoyed some time in the green after the Supreme Court ruled that Prime Minister Boris Johnson's five week suspension of parliament was unlawful. The FTSE 100 index closed at 7,292, down 34.65 points by 0.47%.

Global Indices
24/09/2019 Clsg Chg%
Dow Jones 26,808 -0.53
NASDAQ 7,994 -1.46
FTSE 100 7,292 -0.47
Bovespa 103,876 -0.73
25/09/2019 Latest
(6:36AM IST)
Nikkei 21,943 -0.70
Hang Seng 26,281 +0.22


Asian stocks fell on Wednesday after the U.S. lawmakers called for an impeachment inquiry into President Donald Trump, increasing the prospects of prolonged political uncertainty in the world’s largest economy. Nikkei is currently trading at 21,943, down 155.12 points by 0.70%.

Precious Metals

Gold prices logged their highest finish in nearly three weeks Tuesday, after President Donald Trump criticized China and took a hard-line stance on Iran during his speech at the United Nations General Assembly, pressuring U.S. stocks and boosting the metal’s haven appeal.

Base Metals

The three-month zinc price on the London Metal Exchange was lower at the close of trading on Tuesday September 24, dipping below the $2,300-per-tonne support level despite falling exchange stocks, while aluminium futures closed at their lowest level since September 3.

Crude Oil

Oil futures declined on Wednesday, reflecting concerns that political uncertainty and U.S.-China trade friction will weigh on global economic growth.


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