Morning Notes
27th Mar, 2020
 

Trading Range:

Nifty opened gap up at 8451 on Thursday and made a high and low of 8749 and 8305 respectively before closing positive at 8641.

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 up at 18782, made a high of 20409, low of 18364, and closed positive at 19656. For the day, support for Bank Nifty exists at 18400 and 17900 levels whereas resistance for Bank Nifty stands at 20100 and 20600 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 29,947 +4.94
Nifty 8,641 +3.89
BSE 200 3,472 +5.84
BSE Midcap 10,211 +3.53
BSE Smallcap 9,129 +2.84
Dow Jones 21,201 +2.39
NASDAQ 7,384 -0.45
 

DERIVATIVES INDICATORS FOR MAR 27, 2020:

NIFTY 8641.45 (+323.60) (+3.89%)
NIFTY APR FUTURE 8677.25 (35.80 Points Premium)
NIFTY PCR - OI 1.42 (+0.20)
NIFTY OPEN INTEREST 1.15 Cr. (-33.05%)
INDIA VIX 71.53 (-7.85%)
NIFTY ROLLOVER 62%

NIFTY OPTIONS ACTIVITY (30-APR SERIES)

CALL 8500 CE +2.29 lac Shares
CALL 9000 CE +5.15 lac Shares
PUT 8500 PE +0.63 lac Shares
PUT 8000 PE +6.59 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 11,494 +2.15
Bankex 22,747 +6.69
PSU 4,255 +2.31
Healthcare 11,607 +1.55
IT 12,767 +3.83
 
Market Turn Over (`cr)
Index 26/03 25/03
BSE Cash 6,672 13,557
NSE Cash 48,647 41,151
NSE F&O 1,446,506 681,477
BSE Delivery % 57.99 75.22
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 80.20 18.81
BSE 200 80.10 19.40
BSE 500 78.24 21.16
Total BSE 60.84 32.42
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 23.30 +3.05
Gold Rs./ 10 Gms 43542.00 +3.14
Silver Rs./ Kg 41322.00 -0.92
Rs.- US $ 75.27 -1.06
Rs.- Euro 83.09 -0.30
FII (Rs cr )
26/03* 25/03*
FIIs -3788.54 -2640.13
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    1,88,598.00     10,681.69    1,93,399.00     11,042.12    1,21,492.00    7,400.71     (360.43)
Index Options  36,44,409.00  1,92,274.93  36,57,453.00  1,93,393.95    4,06,416.00  25,888.05  (1,119.02)
Stock Futures    3,60,718.00     16,188.65    3,67,006.00     16,444.88  12,93,172.00  60,343.14     (256.23)
Stock Options        8,819.00         468.93        9,397.00         495.07        7,577.00       354.50       (26.14)
Total  42,02,544.00  2,19,614.20  42,27,255.00  2,21,376.02  18,28,657.00  93,986.40  (1,761.82)
Corporate News
Apollo Hospitals on Thursday announced that it plans to launch 5,000 isolation rooms across the country for people who have tested positive for the coronavirus. The announcement came during the first-ever virtual media conference held by the Apollo Hospitals Group, with the entire top management in attendance, to announce its comprehensive and integrated response plan ‘Project Kavach’, which means ‘shield’, to take on the Covid-19 pandemic. (BL).
The Bajaj Group has announced that it will contribute a fund of Rs 100 crore towards the fight against Covid-19. The group will work with the Government and network of over 200 NGO partners to ensure these resources reach those who need it the most. (ET).
Mahindra & Mahindra Ltd (M&M) has teamed up with two public sector undertakings (PSUs) to work with an existing manufacturer of high spec ventilators to help simplify design and scale up capacity, in the wake of the Coronavirus outbreak in the country. In more news, Mahindra Holidays and Resorts has announced that it will be suspending operations in most of its resorts till March 31 due to the outbreak of Coronavirus. The holiday company said that the temporary shutdown will impact the company’s business. (BL).
Caplin Steriles Ltd, a wholly-owned subsidiary of Caplin Point Laboratories Ltd, has received the final approval from the United States Food and Drug Administration (US FDA) for its Abbreviated New Drug Application (ANDA) Verapamil Hydrochloride injection USP. (ET).
Drug major Cipla on Thursday said it has received final approval from the US health regulator for generic Esomeprazole for oral suspension used for treatment of gastroesophageal reflux disease. The company has received final approval for its abbreviated new drug application (ANDA) for Esomeprazole for oral suspension in the strengths of 10mg, 20mg and 40mg from the United States Food and Drug Administration (USFDA), Cipla said in a statement. (BL).
Laurus Labs informed the exchanges that further to the communication dated March 12, 2020 regarding the payment of interim dividend, considering the current pandemic situation of COVID-19, the company has decided that the interim dividend will be paid on March 27, 2020 itself, instead of earlier informed date of March 30, 2020. (BL).
JSW Steel said it has partially shut operations at some of its plants as a precautionary measure due to the Covid-19 outbreak. Consequently, the capacity utilisation is expected to come down significantly during the lockdown period. The overall adverse impact on the operations of the company during the lockdown period and the expected financial impact cannot be ascertained at this stage, it said. (BS).
Economy and Sector News
In a clear indication that the ongoing economic slowdown combined with the impact of the coronavirus epidemic has hit India Inc hard, CRISIL has reviewed 120 corporates most-affected by the situation. the companies belonging to sectors such as airlines, hotels, tourism, malls, organised brick & mortar retail, multiplexes, and restaurants. Of these, 80 companies have been downgraded or put under ‘ negative watch’ by the rating agency. in more news, CRISIL has slashed its base-case gross domestic product (GDP) growth forecast for fiscal 2021 to 3.5 per cent from 5.2 per cent expected earlier. The past few days have seen global growth forecasts slashed and financial markets heaving as the Novel Coronavirus (Covid-19) pandemic spread geometrically. (BL).
In light of the novel coronavirus (Covid-19) outbreak in India, the Ministry of Health and Family Welfare has paved way for drugs to be available on the doorsteps of the sick, through a notification issued on March 26. (ET).
The G20 nations have agreed to collectively inject $5 trillion into the world economy to counteract the social, economic and financial effects of the Covid-19 pandemic that has infected close to 5,00,000 people across countries and claimed more than 22,000 lives. Prime Minister Narendra Modi, who represented India in a video-conference of G20 economies on Thursday, stressed on a new concept of globalisation that focusses on humanity and collective welfare rather than individual interest. (BL).
Following the lockdown as per Ministry of Home Affairs (MHA) guidelines, the Ministry of Road Transportation and Highways (MORTH) has suspended tolling on all national highways for the 21-day period. The constrained vehicular movement in the run up to the lockdown due to Covid-19 followed by suspension of tolling will further push the toll collections into negative territory for FY2020. Already, the performance of toll road projects has remained sub-par during 9MFY2020 owing to the dual impact of revision in axle load norms and the general slowdown in economy which resulted in muted growth in toll collections in the range of 1-2%. Overall, the annual toll collections for FY2020 are expected to witness a decline by around 2-3%. For the month of March 2020, the decline in toll collections is estimated to be more than 40%. Further, now with the constrained vehicular movement likely to persist beyond April, 2020 given the current situation, ICRA expects the Q1 FY2021 toll collections also to get adversely affected. However, some succour is there for toll operators, as according to MORTH circular dated March 25, 2020, the 21-day toll suspension would be treated as force majeure event. (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 higher for a third consecutive session on Thursday after the head of the country's central bank assured investors that more could be done if needed to help the economy through the fallout of the coronavirus epidemic. The Dow Jones Index closed at 22,552, up 1,351.62 points by 6.38%. The Standard & Poors 500 index closed at 2,630 up 154.51 points by 6.24%. The Nasdaq Composite Index closed at 7,798, up 413.24 points by 5.60%.

FTSE 0100

UK markets turned around to finish higher in afternoon trading on Thursday, as investors digested the latest scheduled announcement from the Bank of England and record US initial jobless claims numbers. The FTSE 100 index closed at 5,815, up 127.53 points by 2.24%.

 
 
Global Indices
26/03/2020 Clsg Chg%
Dow Jones 22,552 +6.38
NASDAQ 7,798 +5.60
FTSE 100 5,815 +2.24
Bovespa 77,710 +3.67
27/03/2020 Latest
(6:50AM IST)
Chg%
Nikkei 19,057 +2.10
Hang Seng 23,352 -0.74

Nikkei

Asian stocks rose on Friday as investors wagered policymakers will roll out additional stimulus measures to combat the coronavirus pandemic after U.S. unemployment filings surged to a record. Nikkei is currently trading at 19,057, up 392.16 points by 2.10%.

Precious Metals

Gold, normally bought as a safe haven, was slightly lower on Friday. Spot gold fell 0.30% to $1,626.58 per ounce.

Base Metals

The three-month price of lead on the London Metal Exchange was the standout performer at the close of trading on Thursday March 26, climbing by just over 3% to close at its highest level since March 16, while copper futures found support above the $4,800 per tonne threshold.

Crude Oil

U.S. crude ticked up 1.77% to $23 a barrel in Asia on Friday. Energy markets have been caught in a tug-of-war between hopes for stimulus spending and worries about excess supplies of crude.

 
 
 

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