Market Outlook: The S&P500 and Nasdaq indices surged to a new 52 week-high after the data showed inflation slowing to a more than two year low, raising optimism among market participants that the FED may be inclined to temporarily halt their course of interest rates tonight. Asian markets have started on a flat to positive note, with SGX Nifty indicating a slightly positive opening. Yesterday, domestic benchmark indices witnessed a strong positive momentum after days of lacklustre move and closed just 1% away from an all-time high. In the last few sessions, mid and small-cap counters have continued to show good strength, and we expect this trend to continue. Overall, we remain positive and expect market momentum to persist.
Actionable: Buy DLF, Axis bank, Titan.
Delivery Ideas: Buy Bata India, Real Estate basket (Real estate stocks are experiencing good momentum, and one can consider buying them).
Global market:
DOW: + 145
SGX NIFTY: + 40 (prev.close 18785)
NIFTY 50 : 18716
Sensex : 63143
Institution:
FII: + 1678 Cr
DII: - 203 Cr
NSE:
Advances: 2117 / Declines: 1469
Currency:
Dollar: $ 82.37
Dollar Index: 103.25
Commodity:
Gold: $ 1960 per ounce
Crude: $ 74.05 per barrel
Bonds:
10 year US bond rate: 3.80
10 year Indian Bond rate: 7.00
Derivative:
PCR: 0.95
VIX: 11.11
Updates:
Tata Chemicals - After Nirma slashed its prices by Rs.2000 MT, Tata Chemicals followed with a higher cut of Soda Ash prices by Rs.2,300 per metric tonne.
Zydus Lifesciences - USFDA inspection at injectables manufacturing facility at Zydus Biotech Park in Changodar concluded with nil observations. USFDA inspection happened at the facility from Jun. 5 to Jun. 13.
KEC International - The company has bagged new orders worth Rs.1,373 crore across its railways, civil, transmission and distribution, cables businesses.
Anupam Rasayan - Company has signed a letter of intent worth $265 million (Rs.2,186 crore) for next 5 years with one of the leading Japanese speciality chemical companies to supply new age patented life science active ingredient.
Campus footwear/Relaxo footwear/Metro brands - As per reports, Toys, leather and new age e-bikes will be added to the production Linked incentive (PLI) scheme that currently covers 14 sectors. These new sectors will be within the Rs.1.97-lakh-crore PLI allocation made three years ago when it was launched.
Securities in ban: BHEL, DELTACORP, IBULHSGFIN, IEX, INDIACEM, MANAPPURAM FINANCE.
Derivative View: On option front, weekly maximum Call OI is at 18900 then 18700 strike while Maximum Put OI is at 18700 then 18600 strike. Option data suggests an immediate trading range in between 18600 to 18800 zones.
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