Morning Notes
23rd Mar, 2020
 

Trading Range:

Nifty opened gap up at 8284 on Friday on made a high and low of 8883 and 8178 respectively before closing positive at 8745.

Review/Outlook:

For the day, support for Nifty exists at 8400 and 8000 levels whereas resistance for Nifty stands at 9000 and 9200 levels.

Review/Outlook:

Bank Nifty opened gap down at 19898, made a high of 20925, low of 19265, and closed positive at 20318. For the day, support for Bank Nifty exists at 19200 and 18500 levels whereas resistance for Bank Nifty stands at 21000 and 22000 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 29,916 +5.75
Nifty 8,745 +5.83
BSE 200 3,684 +5.54
BSE Midcap 11,141 +4.18
BSE Smallcap 10,113 +4.03
Dow Jones 19,174 -4.55
NASDAQ 6,880 -3.79
 

DERIVATIVES INDICATORS FOR MAR 23, 2020:

NIFTY 8745.45 (+482.00) (+5.83%)
NIFTY MAR FUTURE 8723.10 (22.35 Points Discount)
NIFTY PCR - OI 1.19 (+0.04)
NIFTY OPEN INTEREST 2.05 Cr. (+3.88%)
INDIA VIX 67.10 (-7.06%)
NIFTY ROLLOVER 30%

NIFTY OPTIONS ACTIVITY (26-MAR SERIES)

CALL 9000 CE +1.58 lac Shares
CALL 9200 CE +1.77 lac Shares
PUT 8600 PE +2.46 lac Shares
PUT 8500 PE +3.71 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 12,168 +3.90
Bankex 23,266 +1.49
PSU 4,586 +6.19
Healthcare 11,992 +5.22
IT 12,342 +8.36
 
Market Turn Over (`cr)
Index 20/03 19/03
BSE Cash 3,244 3,386
NSE Cash 57,640 53,587
NSE F&O 677,811 1,807,622
BSE Delivery % 39.28 36.55
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 87.13 11.88
BSE 200 84.08 15.42
BSE 500 75.20 24.00
Total BSE 54.74 39.58
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 22.12 -2.25
Gold Rs./ 10 Gms 40358.00 +1.32
Silver Rs./ Kg 35843.00 +2.11
Rs.- US $ 75.39 -0.51
Rs.- Euro 80.68 -0.47
FII (Rs cr )
20/03* 19/03*
FIIs -4581.68 -5044.64
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
Contracts
Value
(Rs. Cr)
No. of
Contracts
Value
(Rs. Cr)
No. of
Contracts
Value
(Rs. Cr)
Value
(Rs. Cr)
Index Futures    2,12,592.00     12,102.76    1,75,538.00       9,674.62    2,89,163.00     17,683.93   2,428.14
Index Options  17,35,318.00     97,881.99  17,17,303.00     97,068.77    9,43,558.00     59,075.92      813.22
Stock Futures    5,00,400.00     22,232.73    5,18,382.00     23,283.72  14,92,333.00     70,591.00  (1,050.99)
Stock Options       47,524.00       2,414.52       47,971.00       2,443.98       80,080.00       3,842.55       (29.46)
Total  24,95,834.00  1,34,632.00  24,59,194.00  1,32,471.09  28,05,134.00  1,51,193.40   2,160.91
Corporate News
With Covid-19 cases on the rise, leading automobile manufacturers, including Maruti Suzuki India, Hero MotoCorp, Tata Motors, Bajaj Auto, Fiat and Mercedes-Benz India, have decided to halt operations till next week. (BL).
Anand Mahindra, Chairman, Mahindra Group on Sunday said that his group will begin work to use existing manufacturing facilities to make ventilators to combat Coronavirus. (ET).
Auto components manufacturer Lumax Industries has decided either to temporarily close or is in the process of closing its manufacturing facilities across the country with immediate effect. (BL).
Vedanta Ltd has set up a dedicated Rs.100 crore fund as part of its endeavour to combat the widespread outbreak of deadly COVID-19. (ET).
Realty major DLF has raised Rs 1,000 crore through the issue of non-convertible debentures on (NCD) a private placement basis. The company has allotted 10,000 senior, secured, rated, listed, redeemable, non-convertible debentures of the face value of Rs 10 lakh each at par, according to a regulatory filing. (BL).
Graphite Cova GmbH German group of companies, wholly-owned subsidiary of Graphite India Ltd, has decided to gradually and completely shut down production in the course of next week, beginning March 23. (BL).
Coming to the rescue of its stressed airline clients, Indian Oil Corporation Ltd (IndiaOil) has reduced aviation turbine fuel (ATF) prices by almost 12 per cent with effect from Saturday in line with international prices of the product. (BS).
Reliance Retail, the retail arm Mukesh Ambani-led Reliance Industries Ltd, is keeping all its grocery stores, except those in the malls, open from 7 am to 11 pm, even as many cities have closed down following the coronavirus crisis. (BL).
NMDC is implementing various preventive measures at its headquarters, various plants and offices to protect its employees and their families against the spread of Coronavirus (COVID-19). (BL).
FMCG major Hindustan Unilever on Friday said it is reducing the prices of Lifebuoy sanitisers, Lifebuoy Liquid handwash and Domex floor cleaners by 15 per cent. It has also committed Rs 100 crore to “help in the fight against coronavirus”. (ET).
It’s yesterday once more for Cipla doyen Dr YK Hamied, as the medicines are being evaluated for their possible impact on the novel coronavirus (Covid-19) are all available with the Mumbai-based drugmaker. (BL).
To help policyholders who are unable to pay insurance premium on time due to the coronavirus outbreak, state-run insurer Life Insurance Corporation (LIC) has extended the deadline up to April 15, 2020. To contain the spread of the novel coronavirus, a majority of the states have asked people to maintain social distancing and avoid travel unless necessary. (ET).
Economy and Sector News
Honda Cars India Ltd (HCIL) on Sunday said it has decided to suspend production at its two manufacturing plants in the country till the end of this month in view of the coronavirus outbreak. Production operations at both its manufacturing plants in Greater Noida (Uttar Pradesh) and Tapukara (Rajasthan) will be temporarily suspended from March 23 till March 31, HCIL said in a statement. (BL).
Freight rates for shipping commodities into India from countries requiring a voyage period of less than 14 days is expected to see a huge spike after the country’s maritime administration said that ships arriving from ports of Coronavirus infected countries identified for mandatory quarantine would have to wait outside the port till the two week period ends before allowed to unload cargo. (ET).
Jet fuel prices were slashed by 12 per cent after oil firms reverted back to fortnightly revisions to pass on the benefit of falling crude oil prices, but rates of petrol and diesel remained unchanged for the seventh straight day to adjust the hike in excise duty. State-owned oil firms cut aviation turbine fuel (ATF) price by Rs.6,687.75 per kilolitre (kl) or 11.76 per cent, to Rs.50,171.26 per kl - the lowest since September 2017, according to a price notification of oil marketing companies. (BL).
Nearly 75 per cent of airports owned and managed by the Airport Authority of India (AAI) made losses in FY 2018-2019, according to government data. As many as 102 airports out of 137 airports managed by AAI, together made losses of Rs 1,646.66 crore. The Bhopal airport made the highest losses at Rs 65.46 crore, followed by Varanasai airport at Rs 61.14 crore, Aurangabad at 58.71 crore, and Imphal incurred losses worth Rs 58.63 crore. (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 fell sharply on Friday at the end of the week as Congressmen failed to agree on a fiscal stimulus package against the coronavirus pandemic. The Dow Jones Index closed at 19,174, down 913.21 points by 4.55%. The Standard & Poors 500 index closed at 2,305 down 104.47 points by 4.34%. The Nasdaq Composite Index closed at 6,880, down 271.06 points by 3.79%.

FTSE 100

UK markets managed to finish just above the waterline on Friday, having slowly lost much of their earlier gains through the afternoon, as investors welcomed central bank intervention but continued to digest the tidal wave of Covid-19 profit warnings and dividend cancellations. The FTSE 100 index closed at 5,191, up 39.17 points by 0.76%.

 
 
Global Indices
20/03/2020 Clsg Chg%
Dow Jones 19,174 -4.55
NASDAQ 6,880 -3.79
FTSE 100 5,191 +0.76
Bovespa 67,069 -1.85
23/03/2020 Latest
(6:04AM IST)
Chg%
Nikkei 16,704 +0.91
Hang Seng 22,805 +5.05

Nikkei

Asian share markets started trading early in the morning on Monday on a positive note as the investors will be closely watching the US markets. Nikkei is currently trading at 16,704, up 150.86 points by 0.91%.

Precious Metals

Gold futures rose Friday, finding support after indiscriminate selling across financial markets weighed even on some traditional havens, sending prices for the precious metal lower for the week.

Base Metals

The copper price closed below $5,000 per tonne on the London Metal Exchange, having traded no higher than $4,938 per tonne earlier on Friday March 20.

Crude Oil

Oil settled sharply lower on Friday, with U.S. prices down 29% for the week—the largest weekly loss since 1991—as economic stimulus plans from government and central banks fail to offset expectations for steep fall in demand due to coronavirus pandemic, and as Saudi Arabia and Russia oversupply the market..

 
 
 

Retail Research Desk:

Akhil Rathi D: 91 22 2858 3210
Hrishikesh Yedve D: 91 22 2858 3207
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

 
 

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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).

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