Morning Notes
24th Dec, 2019
 

Trading Range:

Nifty opened gap down at 12235 on Monday and made a high and low of 12287 and 12213 respectively before closing flat at 12263.

Review/Outlook:

For the day, support for Nifty exists at 12190 and 12100 levels whereas resistance for Nifty stands at 12310 and 12350 levels.

Review/Outlook:

Bank Nifty opened flat at 32381, made a high of 32503, low of 32197, and closed flat to negative at 32339. For the day, support for Bank Nifty exists at 32000 and 31800 levels whereas resistance for Bank Nifty stands at 32500 and 32700 levels.
Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 41,643 -0.09
Nifty 12,263 -0.07
BSE 200 5,101 -0.07
BSE Midcap 14,823 -0.09
BSE Smallcap 13,382 -0.07
Dow Jones 28,552 +0.34
NASDAQ 8,946 +0.23
 

DERIVATIVES INDICATORS FOR DEC 24, 2019:

NIFTY 12262.75 (-9.05) (-0.07%)
NIFTY DEC FUTURE 12276.45 (13.70 Points Premium)
NIFTY PCR - OI 1.66 (-0.07)
NIFTY OPEN INTEREST 1.65 Cr. (+1.11%)
INDIA VIX 11.95 (-2.98%)
NIFTY ROLLOVER 33%

NIFTY OPTIONS ACTIVITY (26-DEC SERIES)

CALL 12300 CE +4.21 lac Shares
CALL 12250 CE +4.08 lac Shares
PUT 12250 PE +3.34 lac Shares
PUT 12200 PE -3.33 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 18,298 +0.50
Bankex 36,833 -0.07
PSU 6,843 -0.63
Healthcare 13,388 -0.07
IT 15,709 +0.31
 
Market Turn Over (`cr)
Index 23/12 20/12
BSE Cash 1,935 2,039
NSE Cash 30,154 41,834
NSE F&O 1,007,983 732,177
BSE Delivery % 44.47 38.19
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 54.46 45.54
BSE 200 45.77 53.73
BSE 500 43.71 55.49
Total BSE 41.09 51.82
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 60.55 +0.05
Gold Rs./ 10 Gms 38257.00 +0.70
Silver Rs./ Kg 45661.00 +1.69
Rs.- US $ 71.21 +0.21
Rs.- Euro 78.98 +0.28
FII (Rs cr )
23/12* 20/12*
FIIs +472.32 +836.43
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       64,346.00       5,522.50       58,059.00       4,910.73    1,94,512.00     16,972.36     611.77
Index Options  22,15,168.00  1,60,978.10  22,01,702.00  1,59,801.08    6,49,664.00     56,572.57  1,177.02
Stock Futures    6,48,552.00     40,519.80    6,15,915.00     39,715.43  15,46,865.00  1,00,673.00     804.37
Stock Options       54,523.00       3,695.47       53,958.00       3,661.89       51,316.00       2,940.58       33.58
Total  29,82,589.00  2,10,715.87  29,29,634.00  2,08,089.13  24,42,357.00  1,77,158.51  2,626.74
Corporate News
Reliance Infrastructure has won an arbitration award of Rs.1,250 crore against Damodar Valley Corporation (DVC), a Government of India undertaking. The three member tribunal directed DVC to pay Rs.896 crore and return the bank guarantees of Rs.354 crore within four weeks or pay additional interest at the rate of 15 per cent per annum for any delay in payment beyond four weeks. (BL).
Close on the heels of Mahindra & Mahindra’s announcement last week about Anand Mahindra stepping down as the chairman of the company and other key changes; it announced further changes today in its group corporate office and within its auto and farm sectors, effective from April 1, 2020. In its Group Corporate Office (GCO), S Durgashankar will have an enhanced role as Group Controller of Finance and Accounts, M&M said in a statement. (ET).
Pidilite Industries Ltd has increased its focus on sales, distribution and innovation owing to a slowdown in the FMCG sector, a top official said. (BL).
The Registrar of Companies (RoC) on Monday moved the National Company Law Appellate Tribunal (NCLAT) seeking an “impleadment” in the Tata-Mistry case and seeking amendments of the appellate tribunal’s last week’s order. (ET).
Tata Power has bagged the licence for supplying power to Odisha for 25 years. In a filing to the exchanges, Tata Power said that the Odisha Electricity Regulatory Commission (OERC), selected the company for the distribution and retail supply of electricity in Odisha's five circles, together constituting Central Electricity Supply Utility of Odisha (CESU). These five circles span across Bhubaneswar, Cuttack, Paradip and Dhenkanal. (BL).
Coal India Ltd (CIL) has joined hands with Odisha Coal and Power Ltd (OCPL) for buying 6,000 tonnes per day from the Manoharpur captive mine of OCPL, owned by the Odisha government. Mahanadi Coalfields Ltd (MCL), the Odisha-based subsidiary of CIL, and OCPL have entered into an MoU for provisioning of excess coal from Manoharpur coal block to the miner, said a press statement issued by CIL. (BS).
Global steel giant ArcelorMittal will sell a 50 per cent stake in its shipping arm Global Chartering Ltd to DryLog Ltd to form a joint venture and pare its debt, the company announced on Monday. (BL).
Even while it is consolidating its current round of expansion, SAIL’s Bhilai Steel Plant (BSP) is looking to commence documentation work and undertake feasibility study for the next phase of expansion. (ET).
Realty firm Puravankara Ltd will invest around Rs 850 crore over the next four years to develop three ultra luxury residential projects in Bengaluru, Chennai and Mumbai. (BL).
Kishore Biyani has said the promoter entities of Future Retail scaled down the level of shares pledged with banks and financial institutions last week after repaying loans of about Rs 1,500 crore. (BL).
The creditors of shuttered Jet Airways have decided to seek fresh initial bids for the airline. (ET).
The RBI on Monday said IFSC Banking Units can open foreign currency current accounts of entities operating in IFSC and of non-resident institutional investors to facilitate their investment transactions. However, IBUs are not allowed to open savings accounts. (BL).
Mankind Pharmaceuticals Ltd. and Glenmark Pharmaceuticals Ltd. today inked a sub-licensing agreement to co-market sodium-glucose co-transporter-2 (SGLT2) inhibitor, Remogliflozin Etabonate (Remogliflozin) in India. Under the agreement, Mankind will market the drug under its own trademark while Glenmark will manufacture and supply Remogliflozin to Mankind. (BL).
Economy and Sector News
Home interiors start-up, HomeLane, announced its Series D funding round of $30 million, led by new investors Evolvence India Fund (EIF), Pidilite Group and FJ Labs, with participation from Sequoia Capital, Accel Partners and JSW Ventures. With the current round, the total funding raised by HomeLane stands at $46 million. In more news, Dues owed by power distribution companies (discoms) has gone up by more than 50 per cent to Rs.80,000 crore, as government subsidy continues to get delayed. (BL).
GoAir has cancelled 18 domestic flights from cities including Delhi, Mumbai, Bengaluru, Kolkata and Patna, due to non-availability of aircraft and adequate cockpit crew, a source said. The budget carrier has reported a series of incidents involving engine glitches, mainly in its A320 Neo planes, which has resulted in non-availability of some of such planes for operations, the source said. In more news, the gap between requirement and collection of compensation cess could touch Rs.63,200 crore at the end of current fiscal, a note for GST (Goods & Services Tax) Council meeting has disclosed. The meeting took place on December 18. (ET).
As many as 377 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of more than Rs 3.94 lakh crore owing to delays and other reasons, according to a report.. (BL).
To protect consumers interest, the Reserve Bank on Monday said that on a peer-to-peer lending (P2P) platform the permissible exposure of a lender to all borrowers should not exceed Rs 50 lakh at any given point of time. (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 turned in another round of record closes on Monday, ahead of the Christmas break in trading later in the week and as investors reacted to the news of the immediate departure of Boeing’s chief executive officer. The Dow Jones Index closed at 28,552, up 96.44 points by 0.34%. The Standard & Poors 500 index closed at 3,224, up 2.79 points by 0.09%. The Nasdaq Composite Index closed at 8,946, up 20.69 points by 0.23%.

FTSE 100

UK markets moved to within striking distance of their 2019 highs on Monday, following more good news around international trade and as the pound shed some of its recent strength. The FTSE 100 index closed at 7,624, up 41.11 points by 0.54%.

 
 
Global Indices
23/12/2019 Clsg Chg%
Dow Jones 28,552 +0.34
NASDAQ 8,946 +0.23
FTSE 100 7,624 +0.54
Bovespa 115,863 +0.64
24/12/2019 Latest
(7:10AM IST) 		Chg%
Nikkei 23,814 -0.03
Hang Seng 27,902 -0.02

Nikkei

Asian markets started trading early in the morning on Tuesday on a negative note as the investors watch the US markets closely. Nikkei is currently trading at 23,814, down 7.47 points by 0.03%.

Precious Metals

February gold up 0.3% at $1,486/oz. on Monday.

Base Metals

Zinc was the worst performer at the London Metal Exchange 5pm close on Monday December 23, while the other base metals consolidated in quiet market conditions.

Crude Oil

Oil prices edged higher on Tuesday after Russia’s energy minister, Alexander Novak, said cooperation with OPEC on supporting the market would continue and as analysts forecast a second weekly decline in U.S. crude inventories.
 
 
 

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Hrishikesh Yedve D: 91 22 2858 3207
Neeraj Sharma D: 91 22 2858 3208
Rohan Gawale D: 91 22 2858 3213

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Email: retailresearch@acm.co.in

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