Morning Notes
25th Oct, 2019

Trading Range:

Nifty opened gap up at 11662 on Thursday and made a high and low of 11680 and 11535 respectively before closing negative at 11583.


For the day, support for Nifty exists at 11540 and 11490 levels whereas resistance for Nifty stands at 11650 and 11700 levels.


Bank Nifty opened gap up at 29604, made a high of 29693, low of 28994, and closed negative at 29108. For the day, support for Bank Nifty exists at 28800 and 28500 levels whereas resistance for Bank Nifty stands at 29400 and 29600 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 39,020 -0.10
Nifty 11,583 -0.19
BSE 200 4,852 -0.25
BSE Midcap 14,339 -0.39
BSE Smallcap 13,204 -0.14
Dow Jones 26,806 -0.11
NASDAQ 8,186 +0.81


NIFTY 11582.60 (-21.50) (-0.19%)
NIFTY OCT FUTURE 11611.15 (28.55 Points Premium)
NIFTY PCR - OI 1.25(+0.06)
NIFTY OPEN INTEREST 1.65Cr. (+0.28%)
INDIA VIX 16.24 (-1.78%)


CALL 11600 CE +4.92 lac Shares
CALL 11700 CE +4.79 lac Shares
PUT 11600 PE +2.54 lac Shares
PUT 11500 PE +1.91 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 18,020 +1.18
Bankex 33,304 +0.17
PSU 6,896 +0.10
Healthcare 12,861 +0.22
IT 14,535 +1.15
Market Turn Over (`cr)
Index 24/10 23/10
BSE Cash 2,474 2,675
NSE Cash 41,587 40,684
NSE F&O 2,881,937 1,278,289
BSE Delivery % 39.67 43.31
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 37.62 62.38
BSE 200 43.28 56.72
BSE 500 40.48 58.52
Total BSE 40.93 52.81
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 56.23 +0.46
Gold Rs./ 10 Gms 38352.00 +0.92
Silver Rs./ Kg 45992.00 +1.50
Rs.- US $ 70.99 +0.33
Rs.- Euro 78.84 +0.08
FII (Rs cr )
24/10* 23/10*
FIIs -149.07 -1073.90
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       66,077.00       4,604.77       71,078.00       4,931.73    1,74,125.00     14,129.39  (326.96)
Index Options  78,72,967.00  5,16,391.27  78,60,469.00  5,15,580.99    6,01,042.00     49,215.97   810.28
Stock Futures    2,80,402.00     16,260.08    2,89,630.00     16,629.48  15,44,162.00     92,924.81  (369.40)
Stock Options    1,55,400.00       9,672.15    1,54,243.00       9,619.00    1,17,657.00       6,723.72     53.15
Total  83,74,846.00  5,46,928.27  83,75,420.00  5,46,761.20  24,36,986.00  1,62,993.89   167.07
Corporate News
Maruti Suzuki India (MSIL) is treading cautiously on the launch of its electric vehicle by 2020 due to not enough support from the government and lack of infrastructure. The company, however, may launch the vehicle only for transporting people (cab aggregators) next year. The company had earlier announced plans to launch electric car based on WagonR by 2020, which is being tested on the Indian roads since last year. (BL).
Hindustan Petroleum Corporation Ltd (HPCL) has been accorded the status of a ‘Maharatna’, said a statement from the Ministry of Heavy Industries and Public Enterprises. (ET).
Aurobindo Pharma Limited has received final approval from the US Food & Drug Administration (USFDA) to manufacture Guaifenesin extended-release tablets. (BL).
Gujarat Poly Electronics has said the company earlier had informed about the sale of surplus land at Industrial Plot B-17/P of Gandhinagar Electronics Estate, Gandhinagar, subject to receipt of all statutory and regulatory approvals from the concerned authorities and signing of the definitive documents. (ET).
IndiGo lowered its capacity growth guidance for 2019-20 to 25 percent from 30 percent. For Q3 it expects capacity to grow by 22 percent. Capacity during Q2 increased by only 24 percent as against company guidance of 28 percent. (BQ).
Bandhan Bank: Board approved increasing shareholding limits for the foreign portfolio investors to 49 percent from 24 percent. This would provide further dilution of the shareholding of the promoter Bandhan Bank Financial Holdings to 40 percent from 60.96 percent to comply with RBI guidelines for new banks in the private sector. Board to seek approval from shareholders to reduce authorised share capital to Rs 3,200 crore from Rs 5,200 crore. (BQ).
Quarterly Earnings
The net profit of the diversified conglomerate DCM Shriram has dipped by nearly 30 per cent in Q2 to Rs 119 crore, even though the Q2 revenue reported a marginal 3 per cent increase to Rs 1,753 crore as against Rs 1,700 crore in the corresponding quarter of 2018-19, a company statement said on Thursday. The lacklustre Q2 performance was mainly on account of lower volumes of sugar sales and distillery. While the sugar sales were down by 6 per cent yoy, that of distillery came down by 27 per cent because of better sales recorded in the corresponding quarter last fiscal, it said. Despite drop in net profits, the Board declared an interim dividend of 200 per cent. (BL).
Tata Steel BSL, formerly known as Bhushan Steel Ltd, on Thursday said it has posted a standalone net loss of Rs 255.89 crore for the quarter ended September 30. The company had posted a net profit of Rs 60.7 crore during the corresponding quarter of 2018-19, the company said in a BSE filing. Its total income during the September 2019 quarter fell to Rs 4,580.47 crore from Rs 5,907.47 crore in the year-ago period, the filing said. (BS).
IDFC First Bank reported a loss of Rs 680 crore due to taking an one-time impact on deferred tax asset markdown as against Rs 617 crore in the quarter ago period. The profit before tax came at Rs 100 crore, as against a loss of Rs 583 crore in the year-ago period. The bank, which has been formed with the merger of infra-focused IDFC Bank and the non-bank lender Capital First in January 2019, reduced its loan book by over Rs 5,000 crore to focus only on retail loans during the quarter, which now constitute 45 per cent of the book. The cost to income ratio for the bank came down to 75.61 per cent from the 78.60 per cent three months ago. (BL).
APM Terminal Pipavav (Gujarat Pipavav Port Ltd) on Thursday saw a 21.87 per cent jump in its consolidated net profit to Rs 76.28 crore for the quarter ended September 30. The firm had clocked a net profit of Rs 62.59 crore for the second quarter in the previous fiscal. Its total income rose to Rs 210.82 crore during the quarter as against Rs 186 crore in the corresponding period of the previous fiscal. (ET).
FMCG major Colgate-Palmolive India Ltd (CPIL) on Thursday reported a 24.31 per cent increase in net profit at Rs 244.11 crore for the second quarter ended September 2019. The company had posted a net profit of Rs 196.37 crore in the July-September quarter a year ago, CPIL said in a BSE filing. Net sales during the quarter under review stood at Rs 1,213.21 crore, up 4.53 per cent from Rs 1,160.63 crore reported in the corresponding quarter a year ago. (BL).
Reliance Nippon Life Asset Management (RNAM) on Thursday reported 21 per cent jump in profit after tax at Rs 137 crore for the September quarter, due to lower tax rate. The company had reported a profit after tax (PAT) of Rs 113.07 crore in the year-ago period, RNAM said in a filing to the stock exchanges. Total income declined to Rs 322.60 crore in the second quarter of the ongoing fiscal from Rs 424 crore in the year-ago period. (ET).
Diageo-controlled United Spirits on Thursday reported net profit decline of 13% at Rs 224.6 crore for the second quarter ended September. The maker of McDowell whiskey reported a 2.15 % increase in net sales at Rs 7295.6 crore. (BL).
IndiGo Thursday posted a record loss for the July-September quarter on a weak operating performance, primarily a failure to keep a check on costs. India’s biggest airline by market share posted a net loss of Rs 1,062 crore in second quarter of the ongoing financial year, compared to Rs 652 crore a year earlier which was its first net loss since it was listed on the exchanges in November 2015. IndiGo posted a 31% increase in its revenue from operations to Rs 8,105 crore. Its revenue per available passenger kilometer, a measure of per seat revenue, increased 5.7% while its yield or average price increased by 9.4%. Its fuel cost increased just 3% to Rs 3,115 crore. But the airline’s other costs excluding fuel increased 45% to Rs 6,456.2 crore, widening its net loss. (BL).
FMCG major ITC on Thursday posted a 36.16 per cent year-on-year rise in standalone profit at Rs 4,023.10 crore for the quarter ended September 30. The company had posted a profit of Rs 2,954.67 crore in the corresponding quarter last year. Bottomline of the company also got a boost from one-time tax credit of Rs 166.16 crore during the quarter under review. Revenue from operations rose 5.31 per cent to Rs 11,871.47 crore. Segment wise, revenue from cigarettes jumped to Rs 5,326.83 crore over Rs 5,020.06 crore last year. EBIT from the segment came in at Rs 3,844.45 crore against Rs 3,579.07 crore in the same period last year. (BL).
Maruti Suzuki on Thursday posted 39.35 per cent year-on-year (YoY) decline in net profit at Rs 1,358.60 crore for the quarter ended September 2019. It had posted a net profit of Rs 2,240.4 crore in the corresponding quarter last year. Net sales of the company dropped 22.50 per cent YoY to Rs 16,120.40 crore in Q2FY20. Sales volume fell 30.2 per cent YoY to 338317 units during the quarter under review. (BL).
Economy and Sector News
Chennai-based KritiLabs Technologies Pvt Ltd, which is a remote asset management IoT start-up, has raised an undisclosed amount in a pre-Series A round led by Pontaq, a cross-border innovation fund that invests in early-stage technology businesses in the UK, India, the US and Canada. (BL).
Fitch Ratings on Thursday slashed the growth forecast of India’s gross domestic product (GDP) forecast in the current fiscal to 5.5 per cent saying a large credit squeeze emanating from shadow banks has pushed economic growth to a six year low. Fitch, which had in June this year put India’s GDP growth at 6.6 per cent for the fiscal year that began in April 2019, said the recent government measures to boost economy including a cut in corporate tax rates will gradually nudge growth. (ET).
India has climbed 14 places, to be ranked 63 among 190 countries, in the World Bank’s Ease of Doing Business 2020 report. It was also among the top ten economies with the most notable improvement in doing business. The country performed better in six of the ten parameters used for ranking including starting a business, dealing with construction permits, trading across borders, resolving insolvency, paying taxes and getting electricity. (BL).
The Supreme Court today has rejected telecom companies' appeal against government's definition of adjusted gross revenue (AGR) and allowed the department of telecommunications to recover Rs1.33 lakh cr from telecom companies - Bharti Airtel, Reliance Communications and Vodafone Idea. (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 turned in a mixed performance on Thursday as the busiest day of the earnings season kicked off amid fresh headlines around the ongoing US-China trade talks. The Dow Jones Index closed at 26,806, down 28.42 points by 0.11%. The Standard & Poors 500 index closed at 3,010, up 5.77 points by 0.19%. The Nasdaq Composite Index closed at 8,186, up 66.00 points by 0.81%.

FTSE 100

UK markets finished in the green on Thursday, helped along by a softer pound and some well-received corporate releases as investors awaited the EU's decision on a Brexit extension. The FTSE 100 index closed at 7,328, up 67.51 points by 0.93%.

Global Indices
24/10/2019 Clsg Chg%
Dow Jones 26,806 -0.11
NASDAQ 8,186 +0.81
FTSE 100 7,328 +0.93
Bovespa 106,986 -0.52
25/10/2019 Latest
(4:01AM IST)
Nikkei 22,751 +0.55
Hang Seng 26,797 +0.87


Asian shares started trading onm Friday early in the morning on a positive note as the investors will be watching the US markets closely. Nikkei is currently trading at 22,751, up 125.22 points by 0.55%.

Precious Metals

Gold prices climbed above the key $1,500 mark on Thursday to mark their highest finish in about two weeks, as a monthly drop in U.S. durable goods orders buoyed haven appeal for the metal.

Base Metals

The three-month tin price on the London Metal Exchange was higher at the close of trading on Thursday October 24, climbing by more than 1% amid low turnover while nickel futures maintained upward momentum over the afternoon.

Crude Oil

The three-month tin price on the London Metal Exchange was higher at the close of trading on Thursday October 24, climbing by more than 1% amid low turnover while nickel futures maintained upward momentum over the afternoon.


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