Morning Notes
26th Sep, 2019

Trading Range:

Nifty opened gap down at 11565 on Wednesday and made a high and low of 11565 and 11416 respectively before closing negative at 11440.


For the day, support for Nifty exists at 11380 and 11300 levels whereas resistance for Nifty stands at 11510 and 11580 levels.


Bank Nifty opened gap down at 30029, made a high of 30068, low of 29470, and closed negative at 29586. For the day, support for Bank Nifty exists at 29300 and 29100 levels whereas resistance for Bank Nifty stands at 29800 and 30000 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 38,594 -1.29
Nifty 11,440 -1.28
BSE 200 4,791 -1.34
BSE Midcap 14,225 -1.76
BSE Smallcap 13,384 -1.50
Dow Jones 26,971 +0.61
NASDAQ 8,077 +1.05


NIFTY 11440.20 (-148.00) (-1.28%)
NIFTY SEP FUTURE 11469.10 (28.90 Points Premium)
NIFTY PCR - OI 1.27(-0.17)
NIFTY OPEN INTEREST 2.01Cr. (-8.83%)
INDIA VIX 16.16 (-3.36%)


CALL 11500 CE +14.86 lac Shares
CALL 11600 CE +6.96 lac Shares
PUT 11500 PE -13.78 lac Shares
PUT 11400 PE +4.86 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 16,729 -3.84
Bankex 33,377 -1.96
PSU 6,647 -1.92
Healthcare 12,808 -1.47
IT 15,481 +0.42
Market Turn Over (`cr)
Index 25/09 24/09
BSE Cash 2,968 2,992
NSE Cash 39,830 43,848
NSE F&O 1,570,828 1,369,103
BSE Delivery % 43.41 36.52
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 21.78 78.22
BSE 200 22.89 77.11
BSE 500 21.56 78.24
Total BSE 27.15 68.17
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 56.63 +0.25
Gold Rs./ 10 Gms 37602.00 -1.33
Silver Rs./ Kg 37602.00 -2.58
Rs.- US $ 71.17 -0.03
Rs.- Euro 77.94 -0.56
FII (Rs cr )
25/09* 24/09*
FIIs -747.05 +2804.28
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    1,42,963.00     11,576.81    1,46,374.00     11,743.13    2,64,355.00     21,182.99    (166.32)
Index Options  40,11,948.00  2,77,615.89  39,93,241.00  2,75,808.46  10,42,290.00     81,695.91  1,807.43
Stock Futures    6,34,057.00     37,256.86    6,45,351.00     37,865.11  15,90,320.00     96,755.74    (608.25)
Stock Options       96,473.00       6,243.75       94,994.00       6,171.45       79,414.00       4,829.91       72.30
Total  48,85,441.00  3,32,693.31  48,79,960.00  3,31,588.15  29,76,379.00  2,04,464.55  1,105.16
Corporate News
The country’s top elevator and escalator company Johnson Lifts is eyeing a significant growth in its topline, supported by Rs.138-crore capacity expansion, penetration into more locations and strong order book. (BL).
‘Nature’s Basket’, a wholly-owned subsidiary of Spencers Retail, is expected to break-even over the next two years. Earlier this year, The RP-Sanjiv Goenka Group had acquired the premium grocery brand, Nature’s Basket, from Godrej for Rs 300 crore. (ET).
Hyundai Motor India Ltd (HMIL) on Wednesday said it has signed an agreement with Bank of Baroda to be the preferred financier for its dealers and consumers. (BL).
Country's largest carmaker Maruti Suzuki India (MSIL) has become the first company to pass on the government's recent announcement of lowering taxes, to its customers. (ET).
Essel Group on Wednesday announced and confirmed that its lenders have unanimously agreed to extend the timeline, enabling the Group to optimize the value output from the sale of its assets. (ET).
NTPC has signed a Memorandum of Understanding (MoU) with the Himachal Pradesh government to set up two hydro projects totalling 520 MW in the state. The projects are the 400 MW Seli Hydro-Electric Power (HEP) which is a Run of River Project with pondage scheme and Miyar HEP, a 120 MW Run of river project without pondage scheme. (BL).
GVK Goindwal Sahib project in Punjab is likely to see a lender swap with Deutsche Bank all set to replace existing senior lenders of the coal fired thermal project. The project, which had to go tough times after its commissioning due to lack of coal supplies, has begun to generate power again after it secured fuel allocation under the Power Ministry’s Shakthi Scheme. (ET).
Pharma major Lupin on Wednesday announced the appointment of Jon Stelzmiller as the President of its US speciality business. (ET).
In a first, nearly 80 employees of HCL Technologies, who are deployed at Google office in Pittsburgh, have voted to unionize citing lesser pay and benefits, said the United Steelworkers (USW) union on Tuesday. (BS).
Strides Pharma Science Ltd said it has received an Information Request today from the USFDA to provide test data on Ranitidine tablets in the next 30 days. Strides has also received an Information Request (IR) today from USFDA to provide test data in the next 30 days. The company is in the process of responding to the IR comprehensively. Further, updates on the product will be provided post completion of the requisite tests. (BL).
Economy and Sector News
The Domestic oil marketing companies (OMC) have discontinued the 0.75 per cent cashback offered to credit card holders on petrol and diesel purchases. In more news, Dvara KGFS today announced that it has raised Rs.70 crore in the final round of Series E funding taking the total tally of funds raised under this round to Rs.167 crore. (BL).
The Asian Development Bank (ADB) on Wednesday lowered growth projection for India by 50 basis points or half a percentage. This is second successive lowering of estimates by the regional development bank in three months. In an report titled, Update of Asian Development Outlook (ADO) 2019, the agency said that the growth rate is expected now at 6.5 per cent during current fiscal, i.e., 2019-20. In more news, Retail prices of onion continued to remain high at Rs 70-80 per kg on Wednesday in the national capital and other parts of the country. As per data maintained by the consumer affairs ministry, retail onion price was ruling at Rs 60/kg in cities like Delhi, Mumbai and Lucknow. It was being sold at Rs 58/kg in Mumbai and Rs 42/kg in Chennai. In Kanpur, onion prices were at Rs 70/kg and at Rs 80/kg in Port Blair. However, trade data showed retail onion prices ruling in the range of Rs 70-80 a kg in most parts of the country, depending on quality and region. (ET).
Oral anti-diabetic drug maker USV Pvt Ltd on Wednesday announced fresh investment of Rs 400 crore on a new state-of-art formulations plant at Vadodara. The investment announcement comes on the back of recent government measure to reduce corporate tax. It is believed to increase capital spending and generate employment in the pharmaceutical sector. In more news, The Mumbai Bench of NCLT on Wednesday directed Jet Airways' Committee of Creditors (CoC) to disperse interim funding within 15 days. The Resolution Professional had filed a miscellaneous application appealing for interim funding of Rs 63 crore. (BL).
SpiceJet Ltd is weighing an order for at least 100 Airbus SE planes as Boeing Co. grapples with the fallout over its grounded 737 Max. The budget carrier, a major global customer for the Max, may buy a sizeable number of Airbus A321LR and XLR jets to accommodate a planned expansion, SpiceJet Chairman Ajay Singh said Tuesday. No decision has been made, he said, and the airline would consider a competing mid-range jet-liner if Boeing decides to build one. (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 on a positive note on Wednesday, even as Donald Trump faced a formal impeachment inquiry, after the president suggested a trade deal with China could be closer than markets were anticipating. The Dow Jones Index closed at 26,971, up 162.94 points by 0.61%. The Standard & Poors 500 index closed at 2,985, up 18.27 points by 0.62%. The Nasdaq Composite Index closed at 8,077, up 83.76 points by 1.05%.

FTSE 100

UK markets clawed back some of their earlier losses in afternoon trade on Wednesday, but remained in the red at the close, as political woes on both sides of the pond dented sentiment. The FTSE 100 index closed at 7,289, down 1.44 points by 0.02%.

Global Indices
25/09/2019 Clsg Chg%
Dow Jones 26,971 +0.61
NASDAQ 8,077 +1.05
FTSE 100 7,289 -0.02
Bovespa 104,481 +0.58
26/09/2019 Latest
(6:28AM IST)
Nikkei 22,103 +0.38
Hang Seng 25,945 -1.28


Asian stocks pushed higher Thursday as signs of easing trade tensions overshadowed impeachment inquiry proceedings in Washington. The dollar steadied after climbing the most since March and the slide in Treasuries eased. Nikkei is currently trading at 22,103, up 83.23 points by 0.38%.

Precious Metals

Gold added 0.2% to $1,506.55 an ounce on Thursday after sliding 1.8% on Wednesday.

Base Metals

The London Metal Exchange three-month lead price continued to rise over the day’s trading on Wednesday September 25, closing up by 2.4% on the previous day at $2,107 per tonne.

Crude Oil

West Texas Intermediate crude advanced 0.4% to $56.70 a barrel on Thursday.


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 brokera3ge 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.