Insight Online News
From Advisory Desk : Vikash Sahay
20th May 2022
Market Outlook: US markets slightly closed in red after a volatile session. However, futures were trading higher by a half percent. Asian markets including SGX Nifty have started on a positive note after China’s central bank cuts policy loan rates and pledged more easing to stabilize the economy. So far announced monetary and fiscal measures value worth $5.4 trillion which will be pumped into its economy in this year. Yesterday, Nifty again holds the recent low of 15740 level which acts as an immediate support. After today’s gap-up opening, Nifty has to cross and hold 16000 level for further recovery.
Actionable: Buy HAL, ITC, Ashok Leyland.
Global market:
DOW: -236
SGX NIFTY: +200 (prev. close 15785)
NIFTY 50 : 15809
Sensex : 52792
Institution:
FII: – 4900 Cr
DII: + 3226 Cr
NSE:
Advances: 779 / Declines: 2557
Currency:
Dollar: $ 77.72
Dollar Index: 102.93
Commodity:
Gold: $1837 per ounce
Crude: $111.75 per barrel
Bonds:
10 year US bond rate: 2.86
10 year Indian Bond rate: 7.32
Derivative:
PCR: 0.95
VIX: 24.55
Today’s results announcement: NTPC, One 97 Communications (PayTM), Amara Raja Batteries, Gati, Heidelberg Cement India, Indiabulls Housing Finance, IDFC, Indigo Paints, Indian Railway Finance Corporation, JK Tyre and Industries, CE Info Systems, Metro Brands, Narayana Hrudayalaya, Nuvoco Vistas Corporation, Paras Defence and Space Technologies, Pfizer, SML Isuzu, Sobha, Thermax, and Zydus Lifesciences.
Results update:
Above estimates: Ashok Leyland, Endurance Tech, Alkyl Amines, V-Guard
Inline estimates: Gland Pharma, Bosch, Godrej CP
Below estimates: Container Corporation, Dr Reddy’s labs, HPCL
Updates:
IIFL Finance – Company plans to buy back overseas bonds it sold more than two years ago for $400 million.
Biocon -Biocon Biologics and Viatris (formerly Mylan) have launched cancer drug bevacizumab under the brand name Abevmy in Canada. Abevmy was co-developed by the two companies. It is a biosimilar to Roche’s Avastin and has been approved by Health Canada across four oncology indications.
Yes Bank – Yes bank has picked JC Flowers Asset Reconstruction Company (ARC) as its joint venture partner to offload nearly ₹51,000 crore of distressed loans.
Securities in Ban: Delta Corp, GNFC, Indiabulls Housing Finance, PNB.
Derivative View : VIX closed at 24.55. Max Put OI is at 15500 and 15800. Immediate max Call OI is at 16000 and 16200. Option data suggests a wider trading range between 15500 to 16200.