Morning Notes
29th Aug, 2019

Trading Range:

Nifty opened flat at 11101 on Tuesday and made a high and low of 11130 and 10988 respectively before closing negative at 11046.


For the day, support for Nifty exists at 10980 and 10900 levels whereas resistance for Nifty stands at 11120 and 11180 levels.


Bank Nifty opened gap down at 28080, made a high of 28096, low of 27635, and closed negative at 27804. For the day, support for Bank Nifty exists at 27600 and 27400 levels whereas resistance for Bank Nifty stands at 28000 and 28200 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 37,451 -0.50
Nifty 11,046 -0.53
BSE 200 4,604 -0.57
BSE Midcap 13,356 -0.92
BSE Smallcap 12,508 -0.64
Dow Jones 26,036 +1.00
NASDAQ 7,856 +0.38


NIFTY 11046.10 (-59.25) (-0.53%)
NIFTY AUG FUTURE 11049.25 (3.15 Points Premium)
INDIA VIX 16.83 (+5.15%)
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 15,784 -1.91
Bankex 31,379 -1.17
PSU 6,397 -1.33
Healthcare 12,475 -0.68
IT 16,011 +1.27
Market Turn Over (`cr)
Index 28/08 27/08
BSE Cash 3,740 2,514
NSE Cash 29,719 46,885
NSE F&O 1,463,805 1,257,676
BSE Delivery % 38.32 41.75
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 32.67 66.34
BSE 200 30.35 69.15
BSE 500 30.54 68.86
Total BSE 34.76 59.91
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 55.79 +0.02
Gold Rs./ 10 Gms 39165.00 +0.31
Silver Rs./ Kg 46646.00 +1.47
Rs.- US $ 71.88 +0.34
Rs.- Euro 79.68 +0.28
FII (Rs cr )
28/08* 27/08*
FIIs -1060.20 -706.28
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    1,15,858.00       8,880.73    1,33,720.00     10,300.52    3,58,338.00     28,028.33  (1,419.79)
Index Options  40,93,902.00  2,66,438.73  40,78,195.00  2,65,400.44    9,54,744.00     71,746.81   1,038.29
Stock Futures    4,94,155.00     27,459.47    5,03,744.00     27,746.53  16,19,742.00     94,409.96     (287.06)
Stock Options       62,130.00       3,605.70       61,742.00       3,611.47       81,698.00       4,353.64        (5.77)
Total  47,66,045.00  3,06,384.63  47,77,401.00  3,07,058.96  30,14,522.00  1,98,538.74     (674.33)
Corporate News
State-run oil refiner Indian Oil Corporation Ltd will set up a 1 Giga Watt (GW) plant to make batteries used for running electric vehicles (EVs) in partnership with an overseas start-up using a non-lithium ion raw material that is locally available, Chairman Sanjiv Singh said on Wednesday. (BL).
Piramal Enterprises on Wednesday said it has deferred the issue of privately placed non-convertible debentures (NCDs) aggregating Rs.3,000 crore to a future date. At the meeting of Administrative Committee of the Board, the committee has decided to defer the issue of privately placed NCDs aggregating up to Rs.3,000 crore (including an option to retain over-subscription of up to Rs.2,500 crore) to a future date, Piramal Enterprises said in a BSE filing. (ET).
Coffee Day Enterprises has got a 45-day extension from the Registrar of Companies (RoC) for its annual general meeting for 2018-19 financial year. The company had sought extension of the AGM which was scheduled for September 30, 2019, as per a regulatory filing. (BL).
City-based Vummidi Bangaru Jewellers (VBJ) launched their nature-inspired, hand-crafted platinum collections – The Ginkgo Leaf and Buddha Pod – to mark its foray in designer platinum jewellery. It was unveiled at the VBJ Creative Centre. (ET).
Toyota Motor Corporation (Toyota) and Suzuki Motor Corporation (Suzuki) on Wednesday have announced that the two companies entered into an agreement regarding a capital alliance (the Alliance). This is to establish and promote a long-term partnership between the two companies forcollaboration in new fields, including autonomous driving. (ET).
The National Company Law Tribunal (NCLT) on Wednesday cleared the sale of IL&FS’s seven wind energy assets to Japan’s Orix Corporation for Rs 4,800 crore, which will partially help reduce its debt burden of over Rs 99,000 crore. (BL).
Philips Innovation Campus (PIC) Bengaluru is looking to accelerate healthcare solutions by engaging with Indian and global start-ups. (BS).
LG Electronics India is putting a lot of emphasis in expanding its B2B and enterprises business with new products and offerings, which contributes around 10 per cent to its overall revenues. The company is looking to expand its B2B business to solar power solutions segment by next year. (ET).
ICRA has withdrawn ratings assigned to the borrowing programme of MEP Infrastructure Developers. The agency has withdrawn the rating for the company's bank limit of Rs.50 crore. (ET).
Moody's Investors Service has today downgraded Yes Bank's long-term foreign-currency issuer rating to Ba3 from Ba1. Moody's has also downgraded the bank's long term foreign and local currency bank deposit ratings to Ba3 from Ba1, foreign currency senior unsecured MTN program rating to (P)Ba3 from (P)Ba1, and Baseline Credit Assessment (BCA) and adjusted BCA to b1 from ba2. (ET).
Coffee Day Enterprises said that CARE downgraded credit rating on Coffee Day Global's long-term bank facilities to BBB from A and continued on credit watch with negative implications. (BL).
Economy and Sector News
Construction equipment maker Doosan Bobcat India, the wholly-owned subsidiary of Seoul-headquartered $3.6-billion Doosan Bobcat Inc, has announced the start of commercial production at its new Rs.190-crore manufacturing facility at Gummudipoondi near Chennai. In more news, Betting on the growing demand for pleasure products (non-condom) segment in the country, leading condom brand Skore today announced its foray into sexual wellness segment with the launch of a new range of products for men and women. (BL).
The government on Wednesday announced a Rs 6,268 crore subsidy for export of 6 million tonnes of sugar during the 2019-20 marketing year starting October in order to liquidate surplus domestic stock and help mills in clearing huge sugarcane arrears to farmers. The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi. In more news, government on Wednesday approved an export subsidy of Rs.10,448 per tonne of sugar up to a maximum of 6 million tonnes at an estimated cost of Rs.6,268 crore, an official statement said. (ET).
India Ratings & Research (Ind-Ra) on Wednesday lowered its projections on India’s GDP (Gross Domestic Product) growth rate by 60 basis points. The agency said the GDP growth rate could slip to 6.7 per cent during the current fiscal year (FY20). This is 60 basis points (100 basis points mean one percentage point) lower than the earlier estimate of 7.3 per cent and 10 basis points lower than 6.8 per cent registered in 2018-19. For the first three months of the current fiscal (first quarter or April-June period), it estimated the growth rate could come down to 5.7 per cent which is 10 basis points less than 5.8 per cent during the fourth quarter of the previous fiscal year. The Government will release the growth numbers for the first quarter on Friday. (BL).
To help revive economic activity by attracting more foreign direct investment (FDI), the Union Cabinet on Wednesday relaxed several rules in areas such as single-brand retail, contract manufacturing, coal mining and digital media. Most of the decisions taken on Wednesday are in line with the announcements made in the Union Budget last month. 100 per cent FDI under the automatic route has been allowed in contract manufacturing to give a boost to domestic manufacturing, Commerce and Industry Minister Piyush Goyal informed the media after the Cabinet meeting. (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 climbed on Wednesday, recovering from early declines on gains in energy and financial shares, but investors remained leery about the potential for another flare-up in the U.S.-China trade war. The Dow Jones Index closed at 26,036, up 258.20 points by 1.00%. The Standard & Poors 500 index closed at 2,888, up 18.78 points by 0.65%. The Nasdaq Composite Index closed at 7,857, up 29.94 points by 0.38%.

FTSE 100

UK markets finished higher on Wednesday, outperforming European peers as sterling slumped on news that Parliament would be prorogued for almost five weeks instead of the more typical one week, raising the odds of a 'no deal' Brexit, although it was still not seen as the most likely scenario by analysts, even if only by a scant margin. The FTSE 100 index closed at 7,115, up 25.13 points by 0.35%.

Global Indices
28/08/2019 Clsg Chg%
Dow Jones 26,036 +1.00
NASDAQ 7,857 +0.38
FTSE 100 7,115 +0.35
Bovespa 98,194 +0.94
29/08/2019 Latest
(6:19AM IST)
Nikkei 20,453 -0.13
Hang Seng 25,615 -0.19


Asian shares started trading early on Thursday morning in the negative as investors will be watching the US and other global markets closely. Nikkei is currently trading at 20,453, down 26.60 points by 0.13%.

Precious Metals

Gold futures turned lower on Wednesday, after the sharp rally in the past month to the highest levels since 2013, discouraged some potential buyers who are now waiting for a dip or some consolidation in prices in order to invest.

Base Metals

The three-month nickel price on the London Metal Exchange was higher at the close of trading on Wednesday August 28, breaching the $16,000 per tonne resistance level in a bout of short covering, while tightness in the metal’s forward curve meant that it continued to trade at record levels.

Crude Oil

Oil prices clung to gains on Thursday after official data confirmed a big drop in U.S. crude inventories, helping ease concerns about weakening demand, but worries about wider economic growth held prices in check.


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

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.