Morning Notes
26th Jun, 2019

Trading Range:

Nifty opened gap down at 11681 on Tuesday and made a high and low of 11814 and 11651 respectively before closing positive at 11796.


For the day, support for Nifty exists at 11720 and 11640 levels whereas resistance for Nifty stands at 11840 and 11910 levels.


Bank Nifty opened gap down at 30568, made a high of 30913, low of 30451, and closed positive at 30847. For the day, support for Bank Nifty exists at 30600 and 30400 levels whereas resistance for Bank Nifty stands at 31000 and 31200 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 39,435 +0.80
Nifty 11,796 +0.83
BSE 200 4,917 +0.75
BSE Midcap 14,674 +0.66
BSE Smallcap 14,108 +0.32
Dow Jones 26,548 -0.67
NASDAQ 7,885 -1.51


NIFTY 11796.45 (+96.80) (+0.83%)
NIFTY JUN FUTURE 11810.30  (13.85 Points Premium)
NIFTY PCR - OI 1.52(+0.22)
NIFTY OPEN INTEREST 2.22Cr. (+0.62%)
INDIA VIX 15.01 (-1.04%)


CALL 11800 CE -9.76 lac Shares
CALL 11900 CE -6.36 lac Shares
PUT 11700 PE +11.62 lac Shares
PUT 11750 PE +7.02 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,790 +0.56
Bankex 34,700 +0.87
PSU 7,749 +1.23
Healthcare 12,734 +0.31
IT 15,926 +0.03
Market Turn Over (`cr)
Index 25/06 24/06
BSE Cash 5,558 3,355
NSE Cash 31,237 26,916
NSE F&O 1,157,999 803,655
BSE Delivery % 42.36 57.85
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 74.26 24.75
BSE 200 69.15 29.85
BSE 500 59.08 40.32
Total BSE 46.47 47.40
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 58.83 +1.73
Gold Rs./ 10 Gms 34556.00 +0.33
Silver Rs./ Kg 38002.00 -0.19
Rs.- US $ 69.33 +0.03
Rs.- Euro 78.78 -0.35
FII (Rs cr )
25/06* 24/06*
FIIs +56.67 -1001.83
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       94,481.00       7,646.79    1,09,367.00       8,750.21    3,04,037.00     24,664.92  (1,103.42)
Index Options  30,58,836.00  2,14,063.32  30,58,368.00  2,14,018.82    7,74,799.00     63,942.83        44.50
Stock Futures    6,29,354.00     36,823.95    6,11,887.00     36,129.79  14,20,055.00     88,758.41      694.17
Stock Options       71,422.00       4,489.62       71,502.00       4,508.58       74,489.00       4,145.74       (18.95)
Total  38,54,093.00  2,63,023.68  38,51,124.00  2,63,407.39  25,73,380.00  1,81,511.90     (383.71)
Corporate News
For Anirudh B, a Vice-President in Mindtree who is in his late 30s, each day passes by in search of a new job. On its part, L&T has said Mindtree would continue to be run independently. (BL).
Nissan shareholders on Tuesday approved an overhaul intended to strengthen governance at the crisis-hit Japanese auto maker, which is still reeling from the Carlos Ghosn scandal and tensions with French partner Renault. (ET).
Malabar Gold & Diamonds is planning to launch Brides of India Golden Heart initiative, a reach out programme for would-be-brides from the economically weaker sections pan India. (BL).
Reliance Industries Ltd on Tuesday said it has signed agreements with offshore lenders to borrow long-term loans aggregating $1.85 billion (about Rs.12,900 crore) to help fund a part of its planned capital expenditure. The oil-to-telecom conglomerate owned by Mukesh Ambani did not disclose details of the lenders, the tenure of the loan and the interest rate in a filing to the BSE. (ET).
PT Jyothi Datta Drugmaker Lupin is embarking on a quality transformation initiative at its manufacturing plants, to train employees to take greater ownership, says Managing Director Nilesh Gupta. (ET).
Dr Reddy’s Laboratories Ltd has launched Tobramycin Inhalation Solution, a therapeutic equivalent generic version of TOBI (tobramycin) Inhalation Solution, approved by the U.S. Food and Drug Administration (USFDA). (BL).
Hindalco Industries Ltd., a company of the Aditya Birla Group, Ball Beverage Packaging (India) and Can-Pack India have formed a consortium to popularise the use of aluminium beverage packagings. (ET).
Ajay Piramel-led Piramal Enterprises and American private equity firm TPG are looking to exit Shriram Capital, said the company (Shriram Capital). It also said that going forward, the group firms will be managed by the Shriram Ownership Trust (SOT), which will actively work with Sanlam, the partner in Shriram Capital and insurance ventures. (BL).
Drug firm Alembic Pharmaceuticals on Tuesday said it has received approval from the US health regulator for Oseltamivir Phosphate capsules, used for treatment of influenza infection. The approved product is therapeutically equivalent to the reference listed drug (RLD), Tamiflu Capsules of Hoffman-La Roche, Inc. (ET).
DHFL the company has made proportionate payment of 40 percent i.e Rs.150 crore towards maturity of the commercial papers of aggregate value of Rs 375 crore and the balance of Rs 225 crore will be paid once the surplus cash flow position improves over the next couple of days. The default has occurred on the gross principal of Rs 225 crore. (BQ).
Reliance Capital Brickwork Ratings downgraded long-term debt programme and market linked debenture’s rating to BBB from A. Short-term debt programme has been downgraded to A3 from A2+. (BQ).
Economy and Sector News
To give micro, small and medium enterprises (MSMEs) a leg up, an RBI panel has recommended establishing a ₹5,000-crore distressed assets fund, setting up a non-profit special purpose vehicle (SPV) to support crowd-funding, and doubling the limit for banks to extend loans without collateral to Rs.20 lakh. (BL).
The number of telephones stood at 1,183.41 million as on March 31, 2019 against 1197.89 million on December 31, 2018. This implies a decrease of 14.48 million during the period, attributed to a decrease in number of telephones in the private sector by 15.41 million during the period, the Telecom ministry has said. The tele-density, which was 91.45% in the beginning of the quarter reduced to 90.10% by the end of the March 2019, as per the quarterly (Jan-March) numbers of Department of Telecom. (ET).
The Reserve Bank of India (RBI) on Tuesday issued a report of the expert committee on Micro, Small and Medium Enterprises (MSME). The committee is chaired by UK Sinha, former chairman, Securities and Exchange Board of India (Sebi). The panel recommended setting up a distressed asset fund of Rs.5,000cr to assist units in clusters where a change in the external environment has led to a large number of MSMEs becoming non-performing assets (NPA). Also, the MSME panel said that Sidbi should ideally play the role of a facilitator to create a platform wherein various Venture Capital Funds can participate and in turn create a multiplier effect for providing Equity Support to MSMEs. (BL).
India Ratings and Research (Fitch Group) believes the credit profile of oil marketing companies (OMCs) will improve marginally in FY20 driven by higher EBITDA generation on account of better gross refining margins (GRM). Ind-Ra further expects subsidy receivables to streamline and reduce with the Government of India’s (GoI) likely higher petroleum subsidy budget allocation for FY20, and lower dividends and buybacks as cash balances with the OMCs have declined significantly. However, the improvement in leverage will be limited by capex outflows for the transition to BS-VI, refining capacity and petrochemical expansion. The weighted average GRM of the OMCs had declined to USD5.1/bbl in FY19 (FY18: USD 7.8/bbl) driven by higher crude prices leading to inventory losses and a steep fall in crack spreads of gasoline. Ind-Ra expects GRMs to improve in FY20 driven by increasing crack spread on diesel, supported by International Maritime Organisation (IMO) regulations, and improvement in refining complexities, distillate yields and capacity utilisations. However, GRMs will remain susceptible to movements in the crude price. (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 south after a session of losses on Tuesday, as tensions between Washington and Tehran continued to build and on the heels of some much weaker-than-expected consumer confidence data. The Dow Jones Index closed at 26,548, down 179.32 points by 0.67%. The Standard & Poor s 500 index closed at 2,917, down 27.97 points by 0.95%. The Nasdaq Composite Index closed at 7,884, down 120.98 points by 1.51%.

FTSE 100

UK markets finished the session little changed on Tuesday as investors shunned risky assets amid rising geopolitical tensions and as they waited on the upcoming G-20 leaders summit in Japan, where the US and Chinese Presidents were scheduled to meet again to talk trade. The FTSE 100 index closed at 7,422, up 5.74 points by 0.08%.

Global Indices
25/06/2019 Clsg Chg%
Dow Jones 26,548 -0.67
NASDAQ 7,884 -1.51
FTSE 100 7,422 +0.08
Bovespa 100,093 -1.93
26/06/2019 Latest
(7:20 AM IST)
Nikkei 21,081 -0.53
Hang Seng 28,091 -0.34


Asian stocks slipped on Wednesday and the dollar pulled back from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing. Nikkei is currently trading at 21,081, down 112.52 points by 0.53%.

Precious Metals

Spot gold slipped from a six-year high of $1,438.63 an ounce on Wednesday after the comments from Fed officials trimmed expectations for a rate hike in July. Gold last traded at $1,418.18 an ounce.

Base Metals

Base metals traded on the London Metal Exchange broadly closed up at the afternoon kerb on Tuesday June 25, while a spate of short-covering meant healthy trading volumes drove gains across the majority of the complex.

Crude Oil

U.S. crude oil futures edged up to a four-week high of $58.87 per barrel on Wednesday after data showed a decline in U.S. crude stocks.


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