Morning Notes

 

Trading Range:

Nifty opened gap down at 10089 on Wednesday and made a high and low of 10104 and 10033 respectively before closing negative at 10044.

Review/Outlook:

For the day, support for Nifty exists at 10000 and 9950 levels whereas resistance for Nifty stands at 10110 and 10150 levels.

Review/Outlook:

Bank Nifty opened gap down at 25066, made a high of 25077, low of 24814, and closed negative at 24852. For the day, support for Bank Nifty exists at 24750 and 24500 levels whereas resistance for Bank Nifty stands at 25000 and 25200 levels.

 
Dec 07, 2017
Market Scan
 
Benchmark Indices
Index
Clsg
Chg%
Sensex
32597
-0.63
Nifty
10044
-0.73
BSE 200
4445
-0.79
BSE Midcap
16663
-0.89
BSE Smallcap
17801
-0.66
Dow Jones 24140
-0.16
NASDAQ
6776

0.21

DERIVATIVES INDICATORS FOR DEC 07, 2017:

NIFTY
10044.10 (-74.15) (-0.73%)
NIFTY DEC FUTURE
10068.65 (24.55 Points Premium)
NIFTY PCR - OI
1.11 (-0.05)
NIFTY OPEN INTEREST
2.11 Cr (+5.07%)
INDIA VIX
15.08 (+0.53%)
NIFTY ROLLOVER
3%

NIFTY OPTIONS ACTIVITY (DEC SERIES)

CALL 10100 CE +8.37 lac Shares
CALL 10200 CE +7.73 lac Shares 
PUT 9900 PE +2.13 lac Shares
PUT 9800 PE +5.23 lac Shares

Sectoral Indices (BSE)
Index
Clsg
Chg%
Auto
24591

-0.73

Bankex
28110

-1.23

PSU
8932

-1.32

Healthcare
13772

-1.02

IT
10732

0.32


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

19.80

79.21
BSE 200

19.90

79.10

BSE 500

28.14

71.46
Total BSE

34.44

60.02

 
FII (Rs'cr')
 
06/12*
05/12*
FIIs
-1403.10
3.85
MFs
-
-
*Date refers to the day of activity and not the day on which it is reported.

 
Market Turn Over (`cr)
 
06/12
05/12
BSE Cash
3,423
4,187
NSE Cash
25,481
25,496
NSE F&O
677,444
511,011
BSE Delivery %

46.88

49.02


Commodities, Forex & Debt
 
Clsg
Chg%
Crude Oil NYMEX $ bl
56.11

0.27

Gold `/ 10 Gms

28967.00

0.28
Silver `/ Kg
37444.00
-0.48
`- US $
64.54
0.19
`- Euro

76.12

-0.07

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
    28,661.00
   2,528.17
    36,387.00
   2,974.55
   2,03,668.00
    16,081.31
 (446.38)
Index Options
 7,55,055.00
 66,768.57
 7,55,382.00
 66,709.84
 11,70,378.00
    92,236.59
    58.74
Stock Futures
 1,16,039.00
   8,124.56
 1,08,768.00
   7,606.50
   9,98,888.00
    68,042.85
  518.06
Stock Options
    52,400.00
   3,775.25
    52,948.00
   3,811.02
      47,171.00
      3,355.60
   (35.78)
Total
 9,52,155.00
 81,196.55
 9,53,485.00
 81,101.91
 24,20,105.00
 1,79,716.34
    94.65
Corporate News
TVS Motor has launched the Apache RR 310 marking its entry into super premium motorcycles. With the launch of the Rs. 2.05-lakh Apache RR 310, TVS Motor also storms the bastion of Royal Enfield Motors, which is a dominant player in fast-growing above-250cc to 350cc segment with annual volumes of more than six lakh units. (BL).
Iron ore mining major NMDC Ltd outlined its plans to consolidate its iron ore mining business while laying special focus on growing its mining for gold and diamonds in India and abroad, apart from stepping up efforts for tungsten mines. (BL).
GAIL (India) Ltd’s capital expenditure is expected to grow by over 55 per cent in the next financial year. Speaking to reporters at the sidelines of an event to announce the Oil and Gas HSE (Health and Safety Executive) Conclave 2018, Ashutosh Karnatak, Director (Projects), GAIL (India), said, next year, capex is Rs. 6,000 crore for pipelines in the financial year 2018-2019. This investment is to construct another 2,500 km gas pipelines by 2020. (BL).
In a move to broaden its presence, Tulip Infratech, a real estate company, has announced its entry into infrastructure development. On Wednesday, the Gurugram-based company signed a joint venture with China-based CCTEB (China Construction Third Engineering Bureau) to develop strategic infrastructure in India. (BL).
Indian Oil Corporation (IOC) will start exporting aviation turbine fuel (ATF) to Myanmar from next month. The State-owned oil major is also exploring the prospects of LPG exports and will open an office in Yangon. (BL).
Rashtriya Ispat Nigam Ltd - Visakhapatnam Steel Plant has achieved significant growth in production during the April-November period of the current fiscal, according to a press release. (BL).
Suven Life Sciences has secured a product patent each from Eurasia and Norway for the treatment of disorders associated with neurodegenerative diseases. (BL).
Anil Ambani-led Reliance Infrastructure Ltd said it has bagged contracts worth Rs. 5,000 crore in Bangladesh, which includes setting up the entire infrastructure for a 750 MW LNG-based combined cycle power plant. (BL).
On Dec 2, 2017 Claris Lifesciences received letter from the promoter of the company, Athanas Enterprise Private Limited expressing intention to voluntarily delist the company’s equity shares by acquiring the shares held by public shareholders  either by itself or along with one or more subsidiaries.On Dec 6, 2017 in the board meeting company has considered the Delisting Proposal to voluntary delist the equity shares of the company from BSE limited. Board further noted that proposal is required to be approved after taking into account a due diligence certificate from a SEBI registered merchant banker and necessary approvals of its public shareholders and BSE and other statutory authorities. (BL).
Public lender Bank of Maharashtra announced its marginal cost of funds based lending rate (MCLR) for one year at 8.65%. For all the tenors: overnight, one month, three months, six months and one year, the bank had cut the MCLR by 8.10%, 8.15%, 8.20%, 8.55% and 8.65%, respectively. The bank said it has kept the base rate unchanged at 9.60%. As per RBI guidelines, the bank has approved MCLR with effect from December 7, 2017. (BL).
Economy and Sector News
As was widely expected, the six-member monetary policy committee (MPC) on Wednesday voted 5:1 in favour of a status quo on the policy repo rate, citing various reasons, including the possibility of retail inflation edging up, risk of fiscal slippage, and oil prices going up. The central bank nudged up its inflation projection to the 4.3-4.7 per cent range for the third and fourth quarters of FY18 against 4.2-4.6 per cent projected in the October bi-monthly policy. It, however, retained the gross value added (GVA) projection at 6.7 per cent. (BL).
To protect domestic pepper growers against a surge in imports possibly originating from South-East Asia, especially Vietnam, the government has approved a proposal from the Spices Board for imposing a minimum import price (MIP) of ₹500/kg on the spice. (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 ended Wednesday mixed. A bounce by tech stocks allowed the Nasdaq Composite index to snap a three-day losing streak, while a fractional loss for the S&P 500 left the benchmark down for a fourth consecutive session. The Dow Jones Index closed at 24,141, down 39.73 points by 0.16%. The Standard & Poor's 500 Index closed at 2,629, down 0.30 points by 0.01%. The Nasdaq Composite Index closed at 6,776, up 14.16 points by 0.21%.

FTSE 100
UK markets
reversed earlier losses to finish just a touch higher on Wednesday as the pound remained under pressure on account of the breakdown in Brexit talks, with M&A news providing a welcome distraction. The FTSE 100 index closed at 7,348, up 20.53 points by 0.28%.

Nikkei
Asian shares held close to a two-month low on Thursday as softer oil and copper as well as U.S. policy uncertainty kept sentiment in check, while high-tech stocks struggled to recover after a searing sell-off. The Nikkei 225 index is currently trading at 22,454, down 277.19 points by 1.25.

 

Global Indices

06/12/2017

Clsg

Chg%

Dow Jones

24,141
-0.16

NASDAQ

6,776
0.21

FTSE 100

7,348

0.28

Bovespa

73,268

1.00

07/12/2017

Latest (6:53 AM IST)

Chg%

Nikkei

22,454

1.25

Hang Seng

28,225

-2.14

Precious Metals
Gold futures eked out a gain on Wednesday to settle above a four-month low, with analysts pinning the rebound in part on geopolitical worries.

Base Metals
Comex copper prices rebounded during midday trading on Wednesday December 6 after collapsing to a two-month low yesterday, although prices remain vulnerable with investors preparing for an extended holiday break.

Crude Oil
Oil prices inched up on Thursday on a decrease in U.S. crude inventories, but rising gasoline stocks and crude production weighed on the market.


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.