Morning Notes

 

Trading Range:

Nifty opened gap down at 10118 on Tuesday and made a high and low of 10148 and 10069 respectively before closing flat at 10118.

Review/Outlook:

For the day, support for Nifty exists at 10070 and 10000 levels whereas resistance for Nifty stands at 10150 and 10210 levels.

Review/Outlook:

Bank Nifty opened gap down at 25031, made a high of 25218, low of 24921, and closed positive at 25125. For the day, support for Bank Nifty exists at 24900 and 24750 levels whereas resistance for Bank Nifty stands at 25300 and 25500 levels.

 
Dec 06, 2017
Market Scan
 
Benchmark Indices
Index
Clsg
Chg%
Sensex
32802
-0.20
Nifty
10118
-0.09
BSE 200
4480
-0.05
BSE Midcap
16812
0.41
BSE Smallcap
17918
-0.03
Dow Jones 24181
-0.45
NASDAQ
6762

-0.19

DERIVATIVES INDICATORS FOR DEC 06, 2017:

NIFTY
10118.25 (-9.50) (-0.09%)
NIFTY DEC FUTURE
10146.70 (28.45 Points Premium)
NIFTY PCR - OI
1.16 (-0.03)
NIFTY OPEN INTEREST
2.01 Cr (+5.89%)
INDIA VIX
15.00 (+1.03%)
NIFTY ROLLOVER
3%

NIFTY OPTIONS ACTIVITY (DEC SERIES)

CALL 10100 CE +8.18 lac Shares
CALL 10200 CE +7.56 lac Shares 
PUT 9900 PE +5.65 lac Shares
PUT 9800 PE +5.24 lac Shares

Sectoral Indices (BSE)
Index
Clsg
Chg%
Auto
24771

-0.52

Bankex
28459

0.38

PSU
9051

-0.02

Healthcare
13913

0.09

IT
10697

-0.38


Advances / Decines BSE Cash
 
Adv(%)
Dec(%)
BSE 100

45.54

53.47
BSE 200

43.78

54.23

BSE 500

41.80

56.60
Total BSE

34.20

60.90

 
FII (Rs'cr')
 
05/12*
04/12*
FIIs
3.85
-602.83
MFs
-
-
*Date refers to the day of activity and not the day on which it is reported.

 
Market Turn Over (`cr)
 
05/12
04/12
BSE Cash
4,187
3,733
NSE Cash
25,496
24,736
NSE F&O
511,011
385,866
BSE Delivery %

49.02

49.63


Commodities, Forex & Debt
 
Clsg
Chg%
Crude Oil NYMEX $ bl
57.35

-0.47

Gold `/ 10 Gms

28932.00

-0.33
Silver `/ Kg
37037.00
-1.22
`- US $
64.42
0.09
`- Euro

76.17

0.33

Details
Buy
Sell
Open interest at the
end of the day
Net Position
No. of
Contracts
Value
(` Cr)
No. of
Contracts
Value
(` Cr)
No. of
Contracts
Value
(` Cr)
Value
(` Cr)
Index Futures
    21,200.00
   1,826.58
    47,392.00
   3,805.21
   1,97,884.00
    15,611.89
 (1,978.62)
Index Options
 6,46,969.00
 56,165.69
 6,41,403.00
 55,711.59
 10,99,539.00
    86,987.22
     454.11
Stock Futures
 1,14,115.00
   8,070.40
 1,11,449.00
   7,792.78
   9,83,663.00
    67,597.56
     277.62
Stock Options
    56,391.00
   4,037.56
    56,675.00
   4,079.91
      44,375.00
      3,192.48
      (42.36)
Total
 8,38,675.00
 70,100.23
 8,56,919.00
 71,389.49
 23,25,461.00
 1,73,389.15
 (1,289.25)
Corporate News
The Asian Development Bank’s (ADB) board of directors has approved debt financing and partial risk guarantees totalling $583 million to develop Reliance Power's liquified natural gas (LNG) terminal and a 750-MW power project in Bangladesh. The project, which includes a power generation facility to be located in Meghnaghat, near the capital city of Dhaka, and an LNG terminal near Kutubdia Island, south of Chiitagong, will significantly increase power generation and improve energy infrastructure in Bangladesh. (BL).
Amusement park operator Wonderla Holidays Ltd has inaugurated a Rs. 40-crore attraction ‘Mission Interstellar,’ a space flying ride experience, at its facility in Hyderabad. (BL).
QSR restaurant chain KFC India said it will switch to rice bran oil as a cooking medium across its restaurants from early next year. The company said the move is part of its efforts to improve the nutrition profile of its food. (BL).
Godrej Appliances will look to push the share of premium offerings in its portfolio. Nearly 25 per cent (or one-fourth) of its sales will go premium over the next three years. (BL).
Indiabulls Pharmaceuticals, an Indiabulls Group company, has raised Rs. 155 crore from Singapore-based investment firm Clermont Group. The company will use the investments to strengthen its healthcare products and services in India, with the intention of being amongst the top 10 players in the coming decade. (BL).
BHEL has secured an order worth Rs. 215 crore for renovation and modernisation of electrostatic precipitators (ESPs) at Kahalgaon Super Thermal Power Station (STPS) in Bihar. Originally supplied along with four units (4X210 MW) by BHEL, the ESPs have been in operation for more than 25 years since their commissioning, the state-owned power equipment maker said in a statement. (BL).
Fortuna Public Relations Pvt Ltd has filed an insolvency petition against phone carrier Reliance Communications Ltd over a claim for unpaid dues of Rs. 44 lakh. (BL).
The Idea-Vodafone merger is likely to close faster, as early as next March-April, six months before the more conservative September 2018 timeline recently suggested by Vodafone Group CEO Vittorio Colao. (ET).
Dalmia Bharat Cement, India’s second-oldest manufacturer of the primary building material, has entered into an agreement with the Piramal Bain Resurgence Fund to bid for debt-laden Binani Cement Ltd. (ET).
HCL Technologies (HCL), a leading global IT services company, has entered into a strategic partnership with Siemens on Industry 4.0 solutions, with a strategic collaboration on the Siemens Industry Software Suite. (ET).
As per BSE filing, Punjab National Bank (PNB) has raised Rs1,315cr through sale of shares in subsidiary firm, PNB Housing Finance (PNBHFL), through the offer for sale (OFS) route. The bank successfully sold 98,15,860 equity shares of PNBHFL to different investors (non-retail and retail) at above the floor price/cut-off price. (BL).
Economy and Sector News
Activity in India’s dominant services industry shrank in November as rising prices, driven up in part by the new national sales tax, took a toll on both foreign and domestic demand, a business survey showed on Tuesday. November’s Nikkei/IHS Markit Services Purchasing Managers’ Index fell to 48.5 - its lowest since August - from 51.7 in October, well below the 50 mark that separates expansion from contraction. (BL).
Public debt of the central government rose by 2.53 per cent to Rs. 65.65 lakh crore in the July-September quarter compared to the previous quarter. The Public Debt (excluding liabilities under the ‘Public Account’) of the central government provisionally increased to Rs. 65,65,652 crore at end-September 2017 from Rs. 64,03,138 crore at end-June 2017, the Quarterly Report on Public Debt Management for July–September 2017 said. Internal debt constituted 93 per cent of public debt at end-September 2017, while marketable securities accounted for 82.6 per cent of public debt. (BL).
Two separate tenders floated by state-run Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL) to hire an oil super tanker and a Suezmax tanker, respectively, on five-year contracts from local shipowners to provide them a much-awaited long-term cargo support has backfired. (BL).
The Ministry of Finance has rejected the Foreign Direct Investment (FDI) proposal of SBI Macquarie Infrastructure Management Ltd. An official statement said that an approval was sought for undertaking capital and profit repatriation to shareholders, and to continue to act as an asset manager and investment advisor without minimum capitalisation norms. (BL).
Axis Securities, a subsidiary of Axis Bank, has become the first-ever broking arm of a bank to take membership of a commodity exchange by registering itself with NCDEX. (BL).
* 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 downbeat note on Tuesday, as traders digest weaker-than-expected readings on service sector activity and foreign trade while scanning the headlines for news regarding the US tax reform proposals, which were making their way through Congress. The Dow Jones Index closed at 24,181, down 109.41 points by 0.45%. The Standard & Poor's 500 Index closed at 2,629, down 9.87 points by 0.37%. The Nasdaq Composite Index closed at 6,762, down 13.15 points by 0.19%.

FTSE 100
UK markets
pared early gains to finish lower on Tuesday as services data disappointed, mining stocks lurched lower and the pound made a late rally after more encouraging reports on Brexit negotiations. The FTSE 100 index closed at 7,327, up 11.47 points by 0.16%.

Nikkei
Asian stocks slipped on Wednesday, pressured by losses on Wall Street as the technology sector stuttered yet again after a brief rebound, while the dollar sagged on lower long-term U.S. yields. The Nikkei 225 index is currently trading at 22,499, down 122.41 points by 0.54.

 

Global Indices

05/12/2017

Clsg

Chg%

Dow Jones

24,181
-0.45

NASDAQ

6,762
-0.19

FTSE 100

7,327

-0.16

Bovespa

72,546

-0.74

06/12/2017

Latest (6:54 AM IST)

Chg%

Nikkei

22,499

-0.54

Hang Seng

28,843

-1.01

Precious Metals
Gold settled at a nearly four-month low on Tuesday as strength in the U.S. dollar and stock market, and upbeat economic data, weighed on the metal’s haven appeal.

Base Metals
Base metals prices on the London Metal Exchange closed the day in negative territory on Tuesday December 5, with copper falling to its lowest since October 5.

Crude Oil
U.S. crude oil futures CLc1 were down 0.3 percent at $57.44 per barrel on Wednesday after American Petroleum Institute data showed that U.S. gasoline stocks and distillate inventories rose more than expected last week.


Disclaimer: This document has been prepared by the Research Desk of Asit C Mehta Investment Interrmediates Ltd. and is meant for use of the recipient only and is not for circulation. This document is not to be reported or copied or made available to others. It should not be considered as an offer to sell or a solicitation to buy any security. The information contained herein is from sources believed reliable. We do not represent that it is accurate or complete and it should not be relied upon as such. We may from time to time have positions in and buy and sell securities referred to herein.