Tag: Russia

News Shots 

Sobha achieved best-ever sales value and volume in Q4. It reported a total sales value of Rs 1109.6 crore in Q4. Cash flows were healthy during the quarter, resulting in further net debt reduction. The average cost of borrowing has further come down during the quarter.

Infosys along with Rolls-Royce announced their joint ‘Aerospace Engineering and Digital Innovation Centre’ in Bengaluru.

 Virgin Atlantic Airways is in code-share talks with Air India and IndiGo, CCO Juha Jarvinen said.

Sonata Software appointed Samir Dhir as the chief executive officer effective April 8 after Srikar Reddy voluntarily stepped down from the position.

Indiabulls Real Estate approved the issue price of its Rs 1,500-crore QIB offering at Rs 106.38 per share.

L&T received a letter from the Ministry of Corporate Affairs seeking information and documents for the period between 2003 to 2008. The letter does not refer to any governance lapses on the part of the company, it said.

What to Expect? 

NIFTY opened with a gap-down at 17,755  and moved down. There was an up-move which took the index near 17,800 but selling pressure kicked in and NIFTY fell to 17,625. The index finally closed at 17,640, down 168 points or 0.94%.

BANK NIFTY opened lower at 37,500 and consolidated for a while. This was followed by a sharp up-move but the index faced resistance at 38,000. There was a huge sell-off there and BNF closed at 37,557, down 75 points or 0.2%.

Pharma moved higher.

The US markets closed in the green. The European markets closed in the red.

The Asian markets are mixed. The U.S. Futures are trading slightly in the green and the European futures are trading lower.

SGX NIFTY is trading at 17,766. All the factors indicate a flat opening.

NIFTY has supports at 17,620, 17,550 and 17,500. We can expect resistances at 17,700, 17,780 and 17,820.

BANK NIFTY has supports at 37,500, 37,390 and 37,190. Resistances are at 37,700, 37,800 and 38,000.

INDIA VIX is at 19.

Foreign Institutional Investors net sold shares worth Rs 5,000 crores. Domestic Institutional Investors net bought shares worth Rs 1,800 crores. 

RBI monetary policy decision will be out today. They may continue their accommodative stance. At the same time, we cannot rule out the chance of a hike in the reverse repo rate.

Inflation is now at 6.07% which is higher than the RBI threshold of 6%. Also, if crude oil prices stay around $100, it will be much harder to bring down inflation below 5.5%. Currently, the inflation forecast by RBI for FY 22 is 4.5% and they may raise it.

Crude oil has gone below 100 now. Let us keep an eye on the crude oil prices as well.

Once the market closes today, we will have a very short week as the markets are off on Thursday and Friday. As a result, decay would be different today. We can add IV element owing to the event.

Let us closely watch 17,780 on the upside and 17,550 on the downside in Nifty.

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News Shots 

Zee Entertainment’s shareholder Invesco will sell a 7.8% stake in the company. Once the bookbuild is complete Invesco will continue to own at least an 11% stake in the company.

IDFC bank signed a definitive agreement to sell IDFC asset management company and IDFC AMC trustee to a consortium comprising Bandhan Financial Holdings, GIC and Chrys Capital for a consideration of Rs 4500 crore. It also declared an interim dividend of Rs 1 per equity share, 10% of paid-up share capital.

Godrej Consumer reported sales growth in the high single-digit, driven entirely by pricing. Unprecedented commodity inflation and subsequent price hikes impacted volumes. Within categories, personal care sustained its double-digit growth trajectory, primarily led by pricing. 

Titan’s overall revenue drops 3%. Revenue of its jewellery business dropped 4% YoY.

Tata Steel executed a share purchase agreement to acquire the entire equity stake of Steel Authority of India held in S&T Mining Company, a Joint Venture between SAIL and the company. On completion of the acquisition, S&T Mining will become a wholly-owned subsidiary of the company.

What to Expect? 

NIFTY opened with a gap-down at 17,852 and was volatile for the first ten minutes. There was bearishness though an attempt was made to move higher. Nifty fell again and consolidate to close at 17,808, down 150 points or 0.83%.

BANK NIFTY opened lower at 37,734 and followed the general market by moving down though without violent moves. BNF closed the day at 37,633, down 435 points or 1.14%.

Metals moved higher.

The US markets had a volatile yesterday and closed in the red. The European markets also dropped.

The Asian markets are down. The U.S. Futures and the European futures are trading in the red.

SGX NIFTY is trading at 17,761 indicating a gap-down opening.

NIFTY has supports at 17,780, 17,700, 17,620 and 17,600. We can expect resistances at 17,840, 17,890 and 17,965.

BANK NIFTY has supports at 37,500, 37,390 and 37,190. Resistances are at 37,700, 37,800 and 38,000.

NIFTY has the highest call OI build-up at 18,000 followed by 18,100 and 17,900. The highest put OI build-up is at 17,500 followed by 17,800.

BANK NIFTY has the highest call OI build-up at 38,000 and the largest put OI build-up is at 37,500.

INDIA VIX is at 19.

Foreign Institutional Investors net sold shares worth Rs 2,300 crores. Domestic Institutional Investors net bought shares worth Rs 600 crores. 

The Fed Minutes was responsible for the volatility and the fall in the US markets. Fed is planning a rapid reduction in the balance sheet. The reduction will be at the rate of $95 Billion per month. Fed also indicated a hike of 50 basis points.

Experts said that there is a higher chance for RBI to maintain an accommodative stance in their latest monetary policy to be out tomorrow. However, we cannot rule out the chance for a hike in the reverse repo rate.

India’s agricultural exports have touched a new peak at $50 Billion. 

Zelensky said that Russia has not abandoned its plan to occupy the whole of Ukraine. German Finance Minister said that they should give up Russian oil and gas and it should happen as soon as possible. The world is awaiting fresh sanctions on Russia.

India was warned by the US Economic Adviser regarding alignment with Russia.

We can see that all the markets are down with hawkish Fed minutes. We will open lower but what we will have to wait and see is whether there is enough negativity to pull the markets even lower. 

Compared to last week, India VIX is lower whereas the S&P VIX has spiked.

Let us closely watch 17,600 if there is a further fall. Get ready for a volatile expiry!

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News Shots 

Tata Steel reported annual crude steel production of 1.9 crore tonnes–a growth of 13% year on year. During Q4 FY22, crude steel production rose 2% QoQ to 49 lakh tonnes. Deliveries grew 16% sequentially to 51.2 lakh tonnes– the highest ever for a quarter.

TVS Motor will collaborate with Jio-BP to explore creating public electric-vehicle solutions.

Marico expects “marginal growth” in profit in the quarter ended March as consumption trends remained subdued amid weak rural sentiment, and aggravating inflation in global commodities due to geopolitical tensions.

UGRO Capital filed a draft prospectus for the public issue of non-convertible debentures up to Rs 100 crore.

Dish TV received an RBI nod to divest its stake in the Sri Lankan arm.

What to expect? 

NIFTY opened with a gap-up at 18,090 and profit-booking followed. There was net consolidation till the last hour when the prices fell. NIFTY closed the day at 17,957, down 96 points or 0.53%.

BANK NIFTY opened higher at 38,759 but was weaker throughout the day. There was a huge fall in the last hour as well. BNF closed the day at 38,068, down 567 points or 1.47%.

Other sectors closed in the green.

The US markets fell yesterday. The European markets also went down except for FTSE.

The Asian markets are down. The U.S. Futures and the European futures are trading in the red.

SGX NIFTY is trading at 17,868 indicating a gap-down opening.

NIFTY has supports at 17,890, 17,800 and 17,700. We can expect resistances at 17,965, 18,000 and 18,100.

BANK NIFTY has supports at 38,000, 37,400 and 36,900. Resistances are at 38,200, 38,300 and 38,800.

NIFTY has the highest call OI build-up at 18,500 followed by 18,000. The highest put OI build-up is at 18,000 followed by 17,500.

BANK NIFTY has the highest call OI build-up at 38,000 and the largest put OI build-up is at 37,500.

INDIA VIX is at 18.5.

Foreign Institutional Investors net bought shares worth Rs 400 crores. Domestic Institutional Investors net sold shares worth Rs 100 crores. 

Yesterday’s fall was led by Reliance and HDFC twins. You can consider the down-move as a correction by the twins. The broader market performed well yesterday.

Adani stocks performed well. Also, Tata Power moved higher.

The European Union has made it clear that they will not allow Russian trucks to enter EU countries.

There is no progress in the peace talks. Zelensky said that there is less chance for the meeting of Presidents to take place whereas Russia did not rule out the chance for the same. He showed a video of dead bodies where he asked the UN to act immediately or dissolve altogether.

The major reason for yesterday’s fall in the US markets is Fed Governor Lael Brainard’s statement that Fed will have to move to rapid reductions in the balance sheet. This along with the expectations of fresh sanctions on Russia led to the fall. The US 10 year bond yield has surged to the peak since August 2019. Keep in mind that Fed minutes for March will be released tonight.

There is a good straddle build-up at 18,000. 18,090 is a good level on the upside whereas breaking 17,890 is not a good sign for the bulls though 17,800 can act as a good support.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

News Shots 

Vedanta achieved the highest ever alumina production of 19.7 lakh tonnes while its aluminium output rose 15% year-on-year to 22.7 lakh tonnes, helped by operational efficiencies.

Reliance Industries has received NCLT’s approval for the scheme of amalgamation of the company and Reliance Syngas.

Glenmark approved the repurchase of an aggregate principal amount of $75 million of bonds due in 2022 by way of on-market purchases at an early redemption amount plus accrued and unpaid interest.

Competition Commission of India will investigate Zomato and Swiggy after the National Restaurant Association of India complained of an alleged contravention of rules by the two food-delivery companies. The CCI Director-General will submit the report in 60 days.

Mindtree will consider the declaration of the final dividend on April 18.

AU Small Finance Bank: The lender has clocked deposit growth of 46%/19% YoY/QoQ to Rs 52,585 crore in Q4 FY22. CASA ratio stood at 37.1% vs 23%/39% YoY/QoQ.

What to expect? 

NIFTY opened with a gap-up at 17,816 and fired up. Fall started at 18,100 but the index saw another round of buying. NIFTY closed the day at 18,053, up 383 points or 2.17%.

BANK NIFTY opened higher at 37,861 and crossed the major levels on the upside. The level of 38,800 was respected but the sell-off was short-lived. BNF closed the day at 38,635, up 1,487 points or 4%.

All the sectors moved higher.

The US markets and the European markets moved higher.

The Asian markets are trading in the green. The U.S. Futures and the European futures are trading slightly in the red.

SGX NIFTY is trading at 18,190 indicating another gap-up opening.

NIFTY has supports at 17,900, 17,800 and 17,700. We can expect resistances at 18,100, 18,250 and 18,310.

BANK NIFTY has supports at 38,500, 38,200 and 38,000. Resistances are at 38,800, 39,000 and 39,350.

NIFTY has the highest call OI build-up at 18,500. The highest put OI build-up is at 18,000.

BANK NIFTY has the highest call OI build-up at 40,000 and the largest put OI build-up is at 38,000.

INDIA VIX is at 17.9.

Foreign Institutional Investors net bought shares worth Rs 1,200 crores. Domestic Institutional Investors net bought shares worth Rs 1,700 crores. 

HDFC-HDFC Bank merger was the highlight of the day. HDFC approved the merger with HDFC Bank and the owners of the former will have 41% of the shares of the latter in a ratio of 42:25. 

There was a strong up-move with both the stocks moving up by 10%. The close above 18,000 is a good sign for the bulls.

The unemployment rate in India has gone down to 7.6% from 8.1%.

There is no progress in the peace talks. Russia has boosted oil production. Putin signed a decree restricting visas to unfriendly countries. Ukraine said that they are anticipating a heavy attack in the east by Russian troops.

The Competition Commission of India has asked for an investigation on Swiggy and Zomato related to their delay in the payment cycle. This was following the complaint by the National Restaurant Association of India. 

Let us watch HDFC twins today to see whether there is a profit-booking or an up-move. Remember they are heavyweights and contribute around 15% together to NIFTY.

18,310 is the next major level on the upside breaking which NIFTY will have to test the all-time high.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

News Shots 

Adani Group achieved financial closure of Navi Mumbai International Airport project through execution of financial documents with State Bank of India.

Welspun’s Saudi Arabia associate East Pipes Integrated Company for Industry has won an order of Rs 1,001.38 crore from Saline Water Conversion Corp.

Emami is looking to grow its personal and healthcare businesses in India mainly through acquisitions, Bloomberg reported. CFO N.H. Bhansali said the strategy is to grow through the inorganic route.

Hero MotoCorp dismissed media reports of alleged bogus expenses incurred by the company. It also increased prices of its motorcycles and scooters by Rs 2,000 effective April 5.

ONGC will sell 1.5% stake via an offer for sale on March 30. The floor price is Rs 159 per share.

What to expect? 

NIFTY opened with a gap-up at 17,299 but hesitated to move up. The index made a failed attempt to cross 17,350 to establish strength where 17,320 acted as a major resistance. There was huge selling pressure with up-moves but the market finally broke the levels to close the day at 17,325, up 103 points or 0.6%.

BANK NIFTY opened with a gap-up at 35,933. The resistance level of 36,000 pushed the index lower. The sector rallied towards the end and closed at 35,959, up 110 points or 0.3%.

Pharma moved higher.

The US markets fell in the first half after a gap-up and then moved up to close in the green. The European markets closed well in the green.

The Asian markets are mixed. The U.S. Futures and the European futures are trading in the red.

SGX NIFTY is trading at 17,530 indicating a gap-up opening.

NIFTY has supports at 17,310, 17,230, 17,150. We can expect resistances at 17,350, 17,480 and 17,620.

BANK NIFTY has supports at 35,500, 35,300, 35,000. Resistances are at 36,000, 36,450 and 36,900.

NIFTY has the highest call OI build-up at 17,500 followed by 17,800. The highest put OI build-up is at 17,000 followed by 17,200.

BANK NIFTY has the highest call OI build-up at 36,000 and the largest put OI build-up is at 35,500.

INDIA VIX is at 22.6.

Foreign Institutional Investors net bought shares worth Rs 35 crores. Domestic Institutional Investors net bought  shares worth Rs 1,700 crores. 

Both Russian and Ukrainian representatives have confirmed that there has been enough progress in the peace talks. There is a chance for the meeting of Presidents of both the nations soon. This led to the positivity in the European markets at around 5 PM. DAX closed nearly 3% in the green yesterday. Also, Zelensky shared hope in his daily address at around 10 PM IST.

Though there is hope regarding the war, the talks failed to achieve ceasefire. Russia has only promised to cut down military operations in Kyiv and not in the Southern region where fightings are still going on. Ukraine has asked Russia for guarantee in territories except for Crimea and the separatist area. Biden remains dubious and has asked the world to wait till the war is over.

NIFTY was trading in a downward channel, consolidating in a tight range before the final hour breakout happened. Sgx Nifty almost touched 17,600 yesterday. 

The premium is quite surprising with ATM put premium much lower than the corresponding call premium. VIX also has dropped making it hard for new option sellers yet to enter positions for the weekly expiry.

USA will release the GDP data for the quarter tonight.

I will be watching 17,250 on the downside and 17,500 on the upside in NIFTY.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

News Shots 

Tata Power and Rustomjee Group have collaborated to set up electric vehicle charging infrastructure at the commercial and residential projects of the latter across Mumbai metropolitan region.

GR Infraprojects emerged as L-1 bidder in financial bid opening for tenders invited by NHAI for two projects respectively – four laning of existing 2-lane stretch from Govindpur to Rajura in Maharashtra and another four laning of existing 2-lane stretch from Bamni to MH/TG border in Maharashtra.

Aurobindo Pharma  approved the acquisition of business and certain assets of Veritaz Healthcare which is a pharmaceutical industry selling branded generic formulations and other health care related products.

ICICI Bank signed an agreement for investment in India Debt Resolution Company. ICICI Bank will buy 15% stake in IDRC for Rs 7.5 crore with the first investment of Rs 3 crore by March 31.

Zensar Technologies opened a global delivery centre in Kolkata to support global clients and leverage local talent.

What to expect? 

NIFTY opened flat at 17,197 yesterday. Bears took the market to 17,000 from where there was a good bounce back. NIFTY closed the day at 17,222, up 70 points or 0.4%.

BANK NIFTY opened flat at 35,572 and moved down. The index took support at 35,000 and moved higher to close the day at 35,710, up 300 points or 0.85%.

IT closed in the red.

The US markets fell in the first half and then closed in the green. The European markets closed in the green.

The Asian markets are trading higher now. The U.S. Futures and the European futures are trading flat.

SGX NIFTY is trading at 17,375 indicating a gap-up opening.

NIFTY has supports at 17,150, 17,000 and 16,880. We can expect resistances at 17,250, 17,350 and 17,480.

BANK NIFTY has supports at 35,300, 35,000 and 34,500. Resistances are at 36,000, 36,450 and 36,900.

NIFTY has the highest call OI build-up at 17,500. The highest put OI build-up is at 17,000.

BANK NIFTY has the highest call OI build-up at 37,000 and the largest put OI build-up is at 35,000.

INDIA VIX is at 22.6.

Foreign Institutional Investors net bought shares worth Rs 800 crores. Domestic Institutional Investors net sold shares worth Rs 1,200 crores. 

There is war situation prevailing in Ukraine and the Saudi Aramco sites were attacked by Houthi. Still, the crude oil prices dropped yesterday. The reason is quite simple: Shanghai has announced lockdown in the city. China is the largest crude oil importer. The demand effect led to the fall in prices.

A Russian lawmaker made it clear that the failure of G-7 Nations to make payment in Ruble will lead to a halt in supplies.

With the switching in daylight saving time, European markets have started opening at 12:30 PM IST. This is after five months.

The US 10 year bond yield crossed 2.5%, the highest since April 2019.

Biden said yesterday that the Ultra HNI clients will be taxed higher. The US markets went down with this but later shot up with S&P 500 closing 0.7% in the green. Nikkei is trading 0.5% higher now and what is interesting is Sgx Nifty indicating such a huge gap-up.

Jio has come up with prepaid plans sticking to the monthly calendar. 

Looking at the charts, you can see the similarity in how Nifty bounced back from 17,000 on last Tuesday and yesterday. The strike has seen a good put addition.

I will be watching 17,000 on the downside and 17,500 on the upside in NIFTY for the rest of the week.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

News Shots 

PVR has approved a merger with Inox Leisure. Shareholders will get three shares of PVR for every ten shares they hold of Inox. PVR now operates the largest multiplex network in India with 871 screens at 181 properties in 73 cities (India and Sri Lanka).

The board of Vedanta approved capital expenditure of $687 million in Cairn Oil & Gas to increase near-term volume. It earmarked a capex of $466 million towards Zinc International’s Gamsberg Phase 2 project. Further, it has set aside $348 million for an expansion project at its subsidiary ESL Steel.

The Ministry of Defence has signed a contract with Larsen & Toubro for acquisition of two multipurpose vessels for Indian Navy at an overall cost of Rs 887 crore.

Emam has acquired Dermicool category from Reckitt Benckiser Group Plc for Rs 432 crore.

Bharti Airtel will buy 4.7% stake in Indus Towers for Rs 2,388.06 crore.

GAIL India will buyback of its shares on March 31.

What to expect? 

NIFTY opened with a gap-up at 17,295 on Friday. There was a down-move till 17,080 from where NIFTY shot up to close the day at 17,153, down by 70 points or 0.4%.

BANK NIFTY opened with a gap-up at 35,710 and had a volatile day. 35,200 offered a good support and the index moved higher, closing the day at 35,410, down by 117 points or 0.33%.

All the sectors moved down whereas Metals consolidated.

The US markets and the European markets closed in the green.

The Asian markets are down now. The U.S. Futures and the European futures are trading flat to green.

SGX NIFTY is trading at 17,215. All the factors together indicate a flat opening.

NIFTY has supports at 17,000, 16,880 and 16,650. We can expect resistances at 17,250, 17,350 and 17,480.

BANK NIFTY has supports at 35,300, 35,000 and 34,500. Resistances are at 36,000, 36,450 and 36,900.

NIFTY has the highest call OI build-up at 17,500. The highest put OI build-up is at 17,000.

BANK NIFTY has the highest call OI build-up at 36,000 and the largest put OI build-up is at 35,000.

INDIA VIX is at 23.4.

Foreign Institutional Investors net bought shares worth Rs 1,500 crores. Domestic Institutional Investors net sold shares worth Rs 1,400 crores. 

Considering the Houthi attacks on Saudi oil sites, we will have to watch crude oil prices. Saudi has said that they will not be responsible for the shortage. US will release oil from their strategic reserves. Currently, crude oil is down by 1%.

Loksabha has passed the finance bill 2022 which includes 39 official amendments. FM mentioned that the number of taxpayers has doubled in the last ten years.

There are reports that the Russian govt has given a deadline of May 9 for the Ukrainian invasion. It is their ‘victory over Nazi’ day. 

China has announced lockdown in Shanghai after the rapid spread of Covid.

Let us see how Reliance performs today.

I will be watching 17,000 on the downside and 17,350 on the upside in NIFTY.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!

News Shots 

Tata Consumer will consider preferential issue of equity shares representing 1.5% of the paid-up share capital to a foreign company on March 29.

Punjab and Sind Bank will consider approval for the exercise of the Call Option on the Additional Tier I Bond Series on March 29.

SEBI levied a penalty of Rs 5 lakh on Axis bank for violation of debt issuance norms. The matter related to issue of debt securities between 2016 and 2019, where the bank acted as a merchant banker.

Zen Technology received a project order sanction from the Indian Army for design and development of a prototype of the Integrated Air Defence Combat Simulator. The equipment will help in imparting training to gunners at unit level.

Yes Bank will consider redemption/interest payment date of bonds on April 12.

What to expect? 

 NIFTY opened with a gap-down at 17,114 but started moving higher. There was resistance at 17,300 and NIFTY started fell to 17,150. There was some volatile moves and NIFTY closed the day at 17,223, down 23 points or 0.13%.

BANK NIFTY opened with a gap-down at 35,696 and moved up. Resistance at 36,000 pushed the index lower. BANK NIFTY consolidated above 35,400 and closed the day at 35,527, down 620 points or 1.72%.

IT and Metals moved higher.

The US markets closed in the green. The European markets closed flat.

The Asian markets are slightly in the red. The U.S. Futures and the European futures are trading flat to green.

SGX NIFTY is trading at 17,289 indicating a gap-up opening.

NIFTY has supports at 17,200, 17,150, 17,100 and 17,000. We can expect resistances at 17,250, 17,300, 17,350, 17,480 and 17,620.

BANK NIFTY has supports at 35,300, 35,000 and 34,500. Resistances are at 35,700, 36,000 and 36,400.

NIFTY has the highest call OI build-up at 18,000. The highest put OI build-up is at 16,000.

BANK NIFTY has the highest call OI build-up at 37,000 and the largest put OI build-up is at 34,500.

INDIA VIX is at 23.9.

Foreign Institutional Investors net sold shares worth Rs 1700 crores. Domestic Institutional Investors net bought shares worth Rs 2100 crores. 

Crude oil prices will continue to have an impact our market in the coming days. It is staying around $120 now.

G-7 Nations have warned Russia of the use of chemical and nuclear weapons. NATO has decided to increase the military deployment in the Eastern Europe. US said that they are working with NATO to prepare for possible nuclear incident from Russia’s side.

There was a block deal in Kotak Bank and the stock has fallen by more than 3% as a result. It was the financial sector which dragged NIFTY which would have otherwise closed in the green with the help of the other sectors.

The candle at 1:25 was a huge volume green candle followed by a doji. But there was no follow-up candle reminding us of the previous day’s 2:30 candle. 

I will be watching 17,000 on the downside and 17,350 on the upside in NIFTY.

Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!