Morning Notes
08th Jan, 2020
 

Trading Range:

Nifty opened gap up at 12079 on Tuesday and made a high and low of 12152 and 12005 respectively before closing positive at 12053.

Review/Outlook:

For the day, support for Nifty exists at 11970 and 11900 levels whereas resistance for Nifty stands at 12150 and 12220 levels.

Review/Outlook:

Bank Nifty opened gap up at 31598, made a high of 31851, low of 31201, and closed positive at 31399. For the day, support for Bank Nifty exists at 31200 and 31000 levels whereas resistance for Bank Nifty stands at 31700 and 31850 levels.
Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 40,869 +0.47
Nifty 12,053 +0.50
BSE 200 5,033 +0.53
BSE Midcap 14,862 +0.65
BSE Smallcap 13,851 +0.99
Dow Jones 28,584 -0.42
NASDAQ 9,069 -0.03
 

DERIVATIVES INDICATORS FOR JAN 08, 2020:

NIFTY 12052.95 (+59.90) (+0.50%)
NIFTY JAN FUTURE 12106.70 (53.75 Points Premium)
NIFTY PCR - OI 1.19 (+0.07)
NIFTY OPEN INTEREST 1.31 Cr. (+0.06%)
INDIA VIX 14.61 (-1.13%)
NIFTY ROLLOVER 9%

NIFTY OPTIONS ACTIVITY (30-JAN SERIES)

CALL 12200 CE -2.31 lac Shares
CALL 12100 CE +1.22 lac Shares
PUT 12000 PE +3.94 lac Shares
PUT 12100 PE +2.78 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,946 +0.29
Bankex 35,762 +0.37
PSU 6,813 -0.02
Healthcare 13,451 +0.59
IT 15,658 -0.26
 
Market Turn Over (`cr)
Index 07/01 06/01
BSE Cash 2,756 2,843
NSE Cash 32,664 31,100
NSE F&O 1,828,329 1,296,579
BSE Delivery % 51.32 53.64
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 71.29 28.71
BSE 200 71.64 27.86
BSE 500 72.00 27.40
Total BSE 58.41 34.98
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 65.38 +4.27
Gold Rs./ 10 Gms 40663.00 +0.47
Silver Rs./ Kg 48106.00 +1.18
Rs.- US $ 71.98 +0.21
Rs.- Euro 80.35 -0.09
FII (Rs cr )
07/01* 06/01*
FIIs -18.99 +1301.97
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       69,332.00       5,490.03       55,597.00       4,098.38    1,40,829.00     11,882.70  1,391.65
Index Options  52,47,965.00  3,72,765.96  52,35,871.00  3,71,890.31    7,21,941.00     59,571.03     875.65
Stock Futures    1,69,665.00     11,635.93    1,62,886.00     11,088.59  14,67,128.00     97,110.26     547.34
Stock Options       58,138.00       4,327.28       57,107.00       4,247.98       52,160.00       3,511.28       79.30
Total  55,45,100.00  3,94,219.20  55,11,461.00  3,91,325.26  23,82,058.00  1,72,075.27  2,893.94
Corporate News
Jindal Steel and Power Ltd (JSPL) on Tuesday said its steel production stood at 1.61 million tonnes (MT) in the December quarter of ongoing fiscal. JSPL has witnessed the highest ever quarterly production of 1.61 million tonnes of steel in Q3 FY19-20. JSPL’s Raigarh and Angul operations contributed 8,17,344 and 7,92,822 metric tonnes to the production in October-December period. (BL).
Glenmark Pharmaceuticals on Tuesday said it has got final approval from the US health regulator for Deferasirox tablets for oral suspension. (ET).
To keep its brands relevant, Marico is tuning in to the cultural zeitgeist. The company’s marketing strategy for its haircare range combines the demographic knowledge of its customers with cultural insights, often ignored in traditional marketing. (BL).
Royal Enfield on Tuesday said it has launched BS VI-compliant version of its model Classic 350, with price starting at Rs 1.65 lakh (ex-showroom). The model is the first motorcycle under the company’s unit construction engine (UCE) platform to transition to the new regulatory emission norms. (BL).
Top Indian coal-fired power generators Adani Power and NTPC Ltd have sought two-to-three-year extensions of deadlines to install emissions-cutting equipment at some plants, according to documents reviewed by Reuters, even as the country battles rampant pollution. (ET).
Manappuram Finance Ltd. has successfully raised $300mn by way of senior secured fixed rate notes issuance for a 3-year tenor. The issue was placed with a coupon of 5.90%. This is the first issuance by the Company in the global bond market, tapping investors in Asia and Europe, Middle East and Africa (EMEA). The proceeds of the issue will be used for onward lending and other activities as permitted by the RBI and extant guidelines for external commercial borrowings. (ET).
Economy and Sector News
The Central Statistics Office has projected the economy’s growth rate for 2019-20 at 5 per cent, the lowest in the current series with 2011-12 as the base year. This projection is a 11-year low. The Central Statistics Office has projected the economy’s growth rate for 2019-20 at 5 per cent, the lowest in the current series with 2011-12 as the base year. This projection is a 11-year low. The government estimated that the gross value added (GVA) — a more realistic guide to measure changes in the aggregate value of goods and services produced — will grow at 4.9 per cent in 2019-20. In more news, India’s per-capita monthly income is estimated to have risen by 6.8 per cent to Rs 11,254 during 2019-20, Government data on national income showed on Tuesday. In 2018-19, the monthly per-capita income had stood at Rs 10,534. The per-capita net national income during 2019-20 is estimated to be Rs 1,35,050 showing a rise of 6.8 per cent as compared to Rs 1,26,406 during 2018-19 with the growth rate of 10.0 per cent, according to the annual national income and GDP 2019-20 data released by the Ministry of Statistics and Programme Implementation (MoSPI). (BL).
India-Iran trade declined a sharp 79.4 per cent in the first eight months of the current fiscal to $3.5 billion from $17 billion in the comparable period last year after the lapse of the oil sanction waiver extended by the US to India. Escalating tension between Iran and the US after the recent killing of Iranian general Qasem Soleimani in a US drone attack could hurt trade further as India’s exports to Iran, which have sustained despite the economic sanctions, could now take a hit. This is true especially with the balance in the rupee-rial account running out, fear exporters. In more news, With the launch of total 223, 325 units, the home launches in eight cities grew by 23 per cent in 2019. Out of which the 112, 150 units were launched in total second half of 2019, according to a report by Knight Frank India, a real estate consulting firm. The report titled, 'India Real Estate: H2 2019', mentioned that Mumbai saw the highest number of homes launches in 2019 at 79,810 units, followed by Pune at 44,660 units, and Bengaluru at 33,772 units. (ET).
A Group of Ministers (GoM) headed, by Union Home Minister Amit Shah, approved the Expression of Interest (EoI) as well as the share purchase agreement for Air India’s privatisation, a senior government official said. The EoI and the share-purchase agreement would be issued in January itself, he said. The last GoM meeting took place in September 2019. In more news, Xerox has acquired $24 billion funding to proceed with its proposal to acquire IT giant Hewlett Packard (HP). The company is now bullish on merging the two companies and is going forward with its $33 billion offer for the acquisition. (BL).
India has informally asked palm oil refiners and traders to avoid buying Malaysian palm oil, government and industry sources said, following Kuala Lumpur's criticism of India's actions in Kashmir and its new citizenship law. Palm oil inventories could spike in Malaysia, and prices may come under pressure if India, the world's biggest buyer of palm oil, reduces purchases from the country. In more news, the overall information and communications technology (ICT) spending in India is estimated to rise to $144 billion by 2023 from $101 billion in 2018 at a compound annual growth rate (CAGR) of 7.2%, according to GlobalData, a data and analytics company. The services segment is estimated to account for nearly 52% of the overall ICT spending in India by 2023. The Indian IT industry continues to be one of the fastest growing markets globally, according to GlobalData, as it transitions from enterprise servicing to becoming an enterprise solutions provider. (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 closed lower on Tuesday as investors continued to monitor headlines surrounding tensions in the Middle East. The Dow Jones Index closed at 28,584, down 119.70 points by 0.42%. The Standard & Poors 500 index closed at 3,237, down 9.10 points by 0.28%. The Nasdaq Composite Index closed at 9,069, down 2.88 points by 0.03%.

FTSE 100

UK markets headed below the waterline to close lower on Tuesday, as ongoing tensions between the US and Iran returned to the fore, with Aston Martin tanking on the back of a profit warning. The FTSE 100 index closed at 7,574, down 1.49 points by 0.02%.

 
 
Global Indices
07/01/2019 Clsg Chg%
Dow Jones 28,584 -0.42
NASDAQ 9,069 -0.03
FTSE 100 7,574 -0.02
Bovespa 116,662 -0.18
08/01/2020 Latest
(6:31AM IST) 		Chg%
Nikkei 22,983 -2.52
Hang Seng 28,322 +0.34

Nikkei

Asian markets started trading early in the morning on Wednesday on a negative note as the investors watch the US markets closely. Nikkei is currently trading at 22,983, down 593.26 points by 2.52%.

Precious Metals

Gold futures marked a 10th straight climb on Tuesday, the longest streak of gains in two years, with prices at their highest finish since 2013.

Base Metals

The three-month zinc price on the London Metal Exchange climbed by 1.3% by the close of trading on Tuesday January 7, topping gains in the complex amid moderately low turnover across the board, while the aluminium price shed 1% of over the afternoon.

Crude Oil

Crude oil prices surged and U.S. stock market futures tumbled late Tuesday after Iran fired multiple missiles at air bases in Iraq housing U.S. troops, raising fears of a wider Middle East conflict.
 
 
 

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