Morning Notes
25th Nov, 2019
 

Trading Range:

Nifty opened flat at 11967 on Friday and made a high and low of 11968 and 11883 respectively before closing negative at 11914.

Review/Outlook:

For the day, support for Nifty exists at 11880 and 11800 levels whereas resistance for Nifty stands at 11970 and 12020 levels.

Review/Outlook:

Bank Nifty opened gap up at 31390, made a high of 31394, low of 31055, and closed negative at 31112. For the day, support for Bank Nifty exists at 30900 and 30700 levels, whereas resistance for Bank Nifty stands at 31300 and 31500 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 40,359 -0.53
Nifty 11,914 -0.45
BSE 200 4,979 -0.38
BSE Midcap 14,738 -0.14
BSE Smallcap 13,353 -0.03
Dow Jones 27,876 +0.39
NASDAQ 8,519 +0.16
 

DERIVATIVES INDICATORS FOR NOV 25, 2019:

NIFTY 11914.40 (-54.00) (-0.45%)
NIFTY NOV FUTURE 11914.50 (0.10 Points Premium)
NIFTY PCR - OI 1.31(-0.22)
NIFTY OPEN INTEREST 1.51Cr. (-6.25%)
INDIA VIX 14.87 (-0.68%)
NIFTY ROLLOVER 13%

NIFTY OPTIONS ACTIVITY (28-NOV SERIES)

CALL 11900 CE +11.89 lac Shares
CALL 12000 CE +10.80 lac Shares
PUT 12000 PE -3.90 lac Shares
PUT 11700 PE -7.13 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,990 +0.39
Bankex 35,198 -0.74
PSU 7,006 +0.37
Healthcare 13,401 -0.15
IT 14,869 -2.21
 
Market Turn Over (`cr)
Index 22/11 21/11
BSE Cash 2,272 2,360
NSE Cash 34,800 42,789
NSE F&O 766,847 2,361,815
BSE Delivery % 34.02 37.79
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 46.53 53.47
BSE 200 40.80 59.20
BSE 500 41.92 57.68
Total BSE 44.42 48.82
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 57.77 -1.38
Gold Rs./ 10 Gms 37895.00 -0.15
Silver Rs./ Kg 44480.00 -0.58
Rs.- US $ 71.79 +0.01
Rs.- Euro 79.12 -0.11
FII (Rs cr )
22/11* 21/11*
FIIs +5006.08 +427.96
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       32,363.00       2,397.49       41,186.00       3,230.02    2,14,856.00     17,773.24  (832.53)
Index Options  20,26,568.00  1,44,795.23  20,17,441.00  1,44,116.43    6,73,022.00     56,598.65   678.80
Stock Futures    2,53,271.00     14,321.80    2,52,330.00     14,363.77  16,13,959.00     94,701.24    (41.97)
Stock Options    1,06,781.00       6,717.93    1,06,396.00       6,709.09       91,526.00       5,115.30       8.84
Total  24,18,983.00  1,68,232.45  24,17,353.00  1,68,419.31  25,93,363.00  1,74,188.43  (186.86)
Corporate News
Aurobindo Pharma expects to become a debt free company in the three next years barring the amount it is spending on acquisition of Sandoz products, a senior official of the city-based company has said. (BL).
In a bid to offer great transparency and to enhance customer experience, Bharat Petroleum Corporation Ltd (BPCL) launched a slew of advance technology and digital initiatives. (ET).
L&T Valves, a wholly-owned subsidiary of Larsen & Toubro, has received the ‘Green Channel Status’ from the Indian government. (BL).
SAIL is awaiting a response from ArcelorMittal regarding setting up a joint high-end automotive steel plant in India for which its board had given the go-ahead about two years ago, a top company official of the state-run steel major said. (ET).
The American health regulator has pulled up Torrent Pharmaceuticals’ US-based subsidiary for violations of good manufacturing practices, including a lack of adequately designed equipment and packing material. (ET).
Lenders of beleaguered Reliance Communications (RCom) have rejected the resignations of its directors, including that of Chairman Anil Ambani, and want them to continue with their duties till the completion of the insolvency process. (BS).
Lenders of Jaypee Infratech will meet on November 28 for further discussions on bids submitted by state-owned NBCC and Mumbai-based Suraksha Realty to acquire the debt-laden realty firm in the ongoing insolvency process. In a regulatory filing, Jaypee Infratech’s Interim Resolution Professional (IRP) Anuj Jain said “a meeting of Committee of Creditors will be held on November 28”. The agenda of the meeting was not disclosed. (BL).
Ashoka Buildcon on Saturday said its subsidiary Ashoka Concessions Ltd (ACL) has received a Letter of Award (LOA) from NHAI for a highway project in Telangana worth Rs 1,000 crore. (BL).
Power Grid declared as successful bidder in 2 intra-state transmission system projects of UP under tariff based competitive bidding. (MQ).
Vodafone Idea CRISIL cut company's NCDs rating to BBB- with negative watch. CARE Ratings downgrades its rating on Long Term Bank Facilities and Non-Convertible Debentures rating to CARE BBB-. (MQ).
Economy and Sector News
Men’s denim and casual wear brand, Mufti, is looking to expand presence in Tier-3 towns even as it focusses on expanding the offerings basket. The brand recently introduced footwear and athleisure as new categories and is now looking at more variants. (BL).
Amid criticism over high joblessness rate, a survey by the National Statistical Office (NSO) on Saturday showed that urban unemployment rate dropped to the lowest level in four quarters at 9.3 per cent during January-March 2019. (ET).
Boeing unveiled its latest version of the 737 MAX on Friday even as the aircraft remains grounded globally following two deadly crashes. Officials unveiled the 737 MAX 10 at a company ceremony at Boeing’s Renton, Washington factory and released a photograph of the white and blue plane emblazoned with the Boeing logo. (BL).
The delay in kharif harvesting may have eaten into rabi sowing in many parts of the country with the total area sown with winter crops remaining at 251 lakh hectares, about 10 per cent lower than the 276.83 lh planted in the corresponding week last year. (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 closed higher on Friday ahead of the Thanksgiving Day holiday as stocks snapped the three-day losing streak that halted its historic rally. The Dow Jones Index closed at 27,876, up 109.33 points by 0.39%. The Standard & Poors 500 index closed at 3,111, up 6.75 points by 0.22%. The Nasdaq Composite Index closed at 8,520, up 13.67 points by 0.16%.

FTSE 100

UK markets rose at the end of the week on Friday as sterling fell after the release of weak PMI data, with sentiment underpinned by renewed optimism about a China-US trade deal. The FTSE 100 index closed at 7,326, up 88.26 points by 1.22%.

 
 
Global Indices
22/11/2019 Clsg Chg%
Dow Jones 27,876 +0.39
NASDAQ 8,520 +0.16
FTSE 100 7,326 +1.22
Bovespa 108,693 +1.11
25/11/2019 Latest
(7:27AM IST)
Chg%
Nikkei 23,315 +0.87
Hang Seng 26,999 +1.52

Nikkei

Asian shares made guarded gains on Monday as investors braced for another week of likely conflicting commentary on the Sino-U.S. trade dispute, while the outperformance of recent U.S. economic data gave the dollar a leg up on its peers. Nikkei is currently trading at 23,315, up 201.20 points by 0.87%.

Precious Metals

Spot gold was flat at $1,460.62 per ounce, restrained by the bounce in the dollar on Monday.

Base Metals

Base metals prices on the London Metal Exchange consolidated at the close of trading on Friday November 22, with nickel futures notching a 1% rise over the day against sideways trading and moderate turnover generally.

Crude Oil

Oil prices on Monday held near two-month highs helped by expectations of an extension to OPEC+ production cuts. Brent crude futures firmed 19 cents to $63.58, while U.S. crude rose 24 cents to $58.01 a barrel.

 
 
 

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
Email: retailresearch@acm.co.in

Research Analyst Registration Number:
INH000002483
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).

Disclosures
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.

Disclaimer:
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.