20 -June:
Market Outlook : US market closed on positive note after US FDA changed its tone to dovish , but kept the interest rates unchanged. However it did indicate to cut interest rate in the next policy meet. Gold Prices jumps to more than 5 years high to $ 1382 / ounce on buying by Central Banks and concerns of global economic slowdown. On domestic front we will be having GST council meet today - Market is expecting reduction in the number of items in the highest tax slab of 28%. Today being the weekly expiry we expect Nifty and Bank Nifty to be in the range between 11620 to 11780 and 30200 to 30700 respectively. Markets are witnessing pressure on higher levels.
Actionable : Buy Havells, Titan, Muthoot Finance.
Buy for Investment: ICICI Bank and DCB Bank at lower levels.
Global market:
DOW:+38
SGX NIFTY:+40
NIFTY 50: 11691
Sensex : 39112
Institution:
FII: -97 Cr
DII: -104 Cr
Currency:
Dollar:69.54
Commodity:
Gold: $ 1382.60 per ounce
Crude: $ 62.49 per barrel
Bonds:
10 year US bond rate: 1.98 percent
10 year Indian Bond rate: 6.84
Updates :
HDFC Ltd to acquire 51.2% stake in Apollo Munich Health from Apollo Hospital ltd . This will help Apollo hospital to reduce its debt which stands at Rs3430 Cr. Positive for company
Rating agency India Rating maintains negative outlook on J&K Bank . Negative for the stock .
State-owned Punjab National Bank (PNB) recovered Rs 20,000 crore of bad loans during the financial year ended March 2019, almost double the recovery amount in the preceding year
Derivative View - VIX closed at 14.73. Max Put OI is at 11500 then 11700 strike while Max Call OI is at 12000 then 11800 strike. Option data suggests a trading range in between 11500 to 11900.