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Can FinNIFTY Expiry Trigger Fresh Breakout? – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Maruti Suzuki recorded a 145.4% YoY growth in standalone profit at Rs 2,485.1 crore for the quarter, with a 22% growth in revenue.

Power Grid reported a 6% year-on-year decline in standalone profit at Rs 3,542.65 crore.

South Indian Bank’s board has approved the raising of funds up to Rs 1,000 crore from the issuance of equity shares, and Rs 500 crore through bonds.

Europe-based financial group Societe Generale has bought a 1.08% stake in Bandhan Bank from the open market for Rs 382 crores.

Major results today: Adani Total, Welspun, Triveni Turbine, GMDC, Thyrocare

What to Expect Today?

NIFTY started the day at 19,666 with a small gap-up. After the initial fall, it took support and moved up. The 3 PM candle also gave a breakout and NIFTY closed at 19,753, up by 107 points or 0.55% from last week.

BANK NIFTY started the week at 45,546 and fell 200 points. But support was taken like NIFTY and the index hit fresh day-highs. BANK NIFTY closed at 45,651, up 183 points or 0.4%.

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

The Asian markets are mostly trading in green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 19,883.

All the factors combined indicate a flat opening in the market.

NIFTY has supports at 19,660, 19,617 and 19,566. We can expect resistances at 19,760, 19,846 and 19,920.

BANK NIFTY has supports at 45,472, 45,230, and 44,900. Resistances are at 45,860, 46,000, and 46,240.

NIFTY has the highest call OI build-up at 19,800. The highest put OI build-up is at 19,600. There was a high put OI buildup yesterday, with call sellers rolling away farther. PCR is still bearish at 0.85.

BANK NIFTY has the highest call OI build-up at 46,000. The highest put OI build-up is at 45,500. The call sellers at 45,500 rolled away aggressively, bringing PCR to 0.90.

Last week, Foreign Institutional Investors net-sold shares worth Rs 701 crores. Domestic Institutional Investors covered up for it by buying shares worth Rs 2488 crores.

INDIA VIX is at 10.41, its worst-ever monthly closing level.

The July month’s candle has closed strongly which indicates the continued presence of bulls. The short covering of 19,800 is still possible if NIFTY aggressively tries to move up today, the strike is just 50 points away.

Otherwise, markets are indicating consolidation with a bullish bias in technicals, even as FIIs sell. Let us see if the PCR shifts to indicate this sentiment today and tomorrow.

Global markets are also consolidating near their all-time highs.

For the Fin NIFTY expiry, the levels to watch out for are very clear between 20,200 and 20,420. A breakout in HDFC Bank can contribute to a move above 19,800 for NIFTY too!

As a new month starts, industrial data will soon start coming out. The U.S. Jobs data also will come out this week, which should not move the market if there are no big surprises.

Hope you have an amazing trading day 🔥

We will be trading Smart Money(NIFTY) and Piggy Bank(BANK NIFTY) today. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Fresh Start for the Week. Will Call Sellers Cause Trouble? – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Marico reported a consolidated profit of Rs 436 crore for the quarter ended June FY24, rising 15.6% over the corresponding period last fiscal

Shree Cement has started commercial production at its clinker grinding unit in West Bengal with a cement capacity of 3.0 MTPA.

UCO Bank announced a profit of Rs 223 crore for the quarter ended June FY24, growing 80.8% YoY.

United Breweries, maker of Kingfisher beer maker, reported fall in profit of 15.8% YoY to Rs 136.2 crore.

IDFC First Bank recorded a 61% YoY growth in profit at Rs 765 crore for the quarter, driven by growth in core operating income.

Equitas Small Finance Bank recorded a profit of Rs 191 crore for the quarter, rising 97% over last year.

SBI Cards registered a 5% YoY fall in profit at Rs 593 crore for the quarter.

Major results today: Maruti Suzuki, GAIL, PowerGrid, UPL, Bosch, Petronet, Adani Green.

What to Expect Today?

NIFTY started last week at 19,748 with a small gap-down. By Tuesday, it fell and tried to recover. Week’s low was created on Friday. And NIFTY closed at 19,646, down by 99 points or 0.6% from last week.

BANK NIFTY started the week at 46,131 and tried to take support at 46k multiple times.  Thursday was the highest opening ever for the index, but then crashed. BANK NIFTY closed at 45,468, down -1.31%, week on week.

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

The Asian markets are all trading in the green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 19,786.

All the factors combined indicate a flat to gap-down opening in the market.

NIFTY has supports at 19,560, 19,500 and 19,430, 19,300. We can expect resistances at 19,750, 19,800 and 19,890.

BANK NIFTY has supports at 45,220, 44,860 and 44,600. Resistances are at 45,650,  45,930, and 46,225.

NIFTY has the highest call OI build-up at 19,800. The highest put OI build-up is at 19,600. There was an aggressive option selling on Friday. And the PCR is bearish, 0.63.

BANK NIFTY has a straddle at 45,500, with PCR at 0.68.

Last week, Foreign Institutional Investors net-sold shares worth Rs 3,000 crores. Domestic Institutional Investors covered up for it by buying shares worth Rs 5,200 crores.

INDIA VIX is flat at 10.13.

With this week having very less possibility of news-based movements, and the monthly expiry being done, the chances exist for another good move.

For Monday, it will be interesting to see how aggressive option sellers will be on the call side. If more and more calls are added while the support at 19,500 is defended in the next 2 days, it could indicate bullishness with a chance of short covering.

The global markets are also bullish, even after the Fed interest rate hike.

The technicals indicate a wick in the closing of July’s monthly candle. If today is a green day, the July candle will end strong.

Do have an eye on crude oil’s 4% rally, which may limit our markets even while global markets move up.

We will be trading Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) today. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Market News Top 10 News

ABB India to Automate India-Bangladesh Cross-Border Oil Pipeline – Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

ABB India to automate India-Bangladesh cross-border oil pipeline

ABB India will secure the 130-kilometre Indo-Bangla Friendship Pipeline (IBFPL) through integrated automation and control solutions. The pipeline will carry diesel from India to Bangladesh. With a potential capacity of one million metric tonnes per annum (MMTPA), the pipeline will enable Bangladesh to access large volumes of energy to meet its growing domestic demand.

Read more here.

Jindal Stainless to invest Rs 1,290 crore in nickel pig iron JV in Indonesia

Jindal Stainless signed a joint venture agreement with an Eternal Tsingshan unit to develop a greenfield 200,000 metric tonne nickel pig iron plant in Indonesia. The company will invest $157 million (~Rs 1,290 crore) in the project over the next two years for a 49% equity stake. New Yaking Pte, a unit of Eternal Tsingshan, will hold the remaining stake.

Read more here.

IndiGo partners with VisitBritain to promote travel between India and UK

IndiGo has partnered with VisitBritain to promote travel to the United Kingdom through its codeshare partnership with Turkish Airlines. The airline will offer connectivity to London, Manchester, and Birmingham via Istanbul. IndiGo’s collaboration with VisitBritain is expected to boost travel and tourism between India and UK and promote mutual economic growth and development.

Read more here.

Gogoro, Zomato, Kotak Mahindra Prime partners to accelerate adoption of EVs

Taiwan-based battery swapping firm Gogoro Inc has partnered with Zomato and Kotak Mahindra Prime to promote fast adoption of electric mobility in the last-mile transportation segment. As per the partnership, the companies will offer last-mile delivery partners associated with Zomato affordable loan terms and battery-swapping services. Zomato currently has over 3 lakh delivery partners in the country.

Read more here.

UCO Bank hopes to earn Rs 1,500 crore net this fiscal: MD & CEO

UCO Bank hopes to achieve a net profit of Rs 1,500 crore this fiscal year, said MD & CEO of S S Prasad. He added that the bank had also doubled market capitalisation in less than a year from Rs 13,000 crore to Rs 28,000 crore, thereby increasing the wealth of the shareholders. The total business of the bank had touched Rs 4 lakh crore. 

Read more here.

Vedanta announces 5th interim dividend of Rs 20.5 per share

Vedanta has declared a fifth interim dividend of Rs 20.50 per equity share for the current financial year 2022-23 (FY23). The dividend will amount to Rs 7,621 crore. The company has already set April 7 as the record date for the same. The record date determines the eligibility of shareholders for the said dividend payment. In FY23, Vedanta has already declared four equity dividends of Rs 12.50, Rs 17,50, Rs 19.50, and Rs 31.50, respectively.

Read more here.

GR Infraprojects secures projects worth Rs 1,614 crore

GR Infraprojects Ltd has secured two projects worth Rs 1,614 crore from the National Highways Authority of India (NHAI). The first project includes the construction of a 4-6 lane bypass from Belagavi City. The second project includes the construction of a 4-lane with paved shoulders in the Belgaum-Hungund-Raichur section of NH‐748A in Karnataka.

Read more here.

Reliance in talks to increase batch of forex loans to $4.5 billion: Report

According to a Bloomberg report, Reliance Industries and its telecom arm Jio are reportedly planning an increase in a batch of foreign currency loans from $3 billion to $4.5 billion due to a large number of bids. The move comes in response to a large number of bids received, and both companies have already raised $1.5 billion each.

Read more here.

Embassy Office REIT to acquire Embassy Business Hub in Bengaluru for Rs 334.8 crore

Embassy Office Parks REIT will acquire Embassy Business Hub, Bengaluru, for an aggregate value of Rs 334.8 crore. This acquisition will come with exclusive ownership rights to approximately of 1.4 million square feet of leasable area on full completion. The company plans to primarily fund the acquisition through debt at an 8.1% interest cost per annum.

Read more here.

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Market News Top 10 News

RBI Raises Repo Rate by 50 bps to 5.4% – Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

RBI raises repo rate by 50 bps to 5.4%

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has raised the repo rate by 50 basis points to 5.4% to bring down inflation in the country. “The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth,” said RBI governor Shaktikanta Das. The RBI has retained its gross domestic product (GDP) forecast for FY23 at 7.2%.

Repo rate is the interest rate at which a central bank lends money to all the other banks in the country. A hike in repo rates makes bank loans costlier, leading to lower circulation of money in the economy.

Read more here.

Titan Q1 Results: Net profit jumps 13x YoY to Rs 793 crore

Titan Company Ltd reported a 1200% YoY jump in net profit to Rs 793 crore for the quarter ended June (Q1 FY23). Its revenue from operations rose 175.8% YoY to Rs 8,961 crore during the same period. Its jewellery business posted an income of Rs 7,600 crore in Q1, up 208% YoY. Income from Titan’s watches & wearables segment grew 169% YoY to Rs 785 crore.

Read more here.

Havells India launches innovative range of ‘Signia’ switches

Havells India Ltd unveiled its innovative range of ‘Crabtree Signia’ switches in Kochi. The range comprises of two categories: smart and luxury switches (Signia Smart and Signia Grande). They are equipped with high-end aesthetics and technology. It was designed in-house at Havells India’s research & development (R&D) center.

Read more here.

M&M Q1 Results: Net profit at Rs 2,360.7 crore

Mahindra & Mahindra Ltd (M&M) reported a consolidated net profit of Rs 2,360.7 crore for the quarter ended June (Q1 FY23). It had posted a net loss of Rs 331.74 crore in the corresponding quarter last year (Q1 FY22). Its revenue from operations rose 48.2% YoY to Rs 28,412.38 crore in Q1 FY23. M&M sold 1,49,803 vehicles during the quarter, registering a growth of 74% YoY. 

Read more here.

HDFC raises $1.1 billion ‘social loan’ for financing affordable housing segment

Housing Development Finance Corp (HDFC) Ltd has raised $1.1 billion (~Rs 8,700 crore) from investors under the ‘Syndicated Social Loan Facility’ to cater to the affordable housing segment. The company has raised the amount via external commercial borrowings (ECBs). Proceeds from the social loan would go towards financing affordable housing loans across India.

Read more here.

UCO Bank Q1 Results: Net profit rises 22% YoY to Rs 123.6 crore

UCO Bank reported a 22% YoY increase in net profit to Rs 123.61 crore from the quarter ended June (Q1 FY23). Its net interest income (NII) rose 12.96% YoY to Rs 1,649.54 crore during the same period. [NII is the difference between the interest income a bank earns on loans and the interest it pays depositors.] The gross non-performing assets (GNPA) ratio stood at 7.42% in Q1 FY23, compared to 9.37% in Q1 FY22. Provisions fell 78% YoY to Rs 246.83 crore in Q1 FY23.

Read more here.

Alkem Labs Q1 Results: Net profit falls 73% YoY to Rs 127 crore

Alkem Laboratories Ltd reported a 72.7% YoY decline in consolidated net profit to Rs 127.64 crore for the quarter ended June (Q1 FY23). Its revenue from operations fell 5.67% YoY to Rs 2,576.38 crore during the same period. International sales declined by 3.8% YoY to Rs 760.4 crore in Q1. EBITDA stood at Rs 203 crore, down 66% YoY.

Read more here.

NTPC partners with Ohmium, Spirare Energy to generate green hydrogen

US-based Ohmium International, Inc., is partnering with Spirare Energy to generate green hydrogen at the NTPC Energy Technology Research Alliance (NETRA) campus. Spirare Energy will manage the engineering, procurement, and construction (EPC) of the project, while Ohmium will provide the hydrogen electrolyzers. NTPC, the largest power utility in India, set up NETRA in 2009.

In other news, NTPC has commissioned the full capacity of the 296 megawatts (MW) Fatehgarh solar power project in Rajasthan.

Read more here.

Nykaa Q1 Results: Net profit rises 33% YoY to Rs 4.5 crore

FSN E-Commerce Ventures Ltd (Nykaa) reported a 33.4% YoY rise in consolidated net profit to Rs 4.55 crore for the quarter ended June (Q1 FY23). However, net profit declined by 47.6% when compared to the previous quarter. Its revenue from operations rose 40.5% YoY to Rs 1,148.42 crore during the same period. Nykaa’s gross merchandise volume (GMV) stood at Rs 2,155.8 crore in Q1, up 47% YoY.

Read more here.

SJVN secures 200 MW solar project worth Rs 1,200 crore in Maharashtra

SJVN Ltd has secured a 200 MW solar project in an e-reverse auction by Maharashtra State Electricity Distribution Company Ltd (MSEDCL). This ground-mounted solar project will be developed by SJVN anywhere in Maharashtra through an EPC contract. The tentative cost for the development of this project is Rs 1,200 crore.

Read more here.

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Market News Top 10 News

OIL Reports 111% YoY Jump in Net Profit in Q2 – Top Indian Market News

crude oil prices

Oil India Q2 Results: Net profit jumps 111% YoY to Rs 504.46 crore

Oil India Limited (OIL) reported a 111% YoY jump in net profit to Rs 504.46 crore for the quarter ended September (Q2 FY22). Its turnover rose 52.8% YoY to Rs 3,311.18 crore during the same period. EBITDA stood at Rs 1,290.99 crore in Q2, an increase of 50.9% YoY. Crude oil price realisation for Q2 FY22 rose to $71.35 per barrel, compared to $42.74 per barrel in the corresponding period last year. OIL’s board has recommended an interim dividend of Rs 3.5 per share.

Read more here.

Bank of Baroda Q2 Results: Net profit rises 24% YoY to Rs 2,088 crore

Bank of Baroda reported a 24.4% YoY increase in net profit to Rs 2,087.9 crore for the quarter ended September (Q2 FY22). Its net interest income (NII) rose 2.11% YoY to Rs 7,566 crore during the same period. The gross non-performing assets (GNPA) ratio stood at 8.11% in Q2, compared to 8.9% in the previous quarter. The bank’s provisions fell 2% YoY to Rs 2,754 crore.

Read more here.

LTTS partners with Microsoft to offer industrial Io-based smart solutions

L&T Technology Services Ltd (LTTS) has partnered with Microsoft Corp. to offer its Energy & Sustainability Manager (ESM) solution on Microsoft Azure to digitally transform and create sustainable factories of the future. LTTS’ ESM is a comprehensive compliance and standard-driven solution that tracks energy losses across plants. It helps to reduce wastage sustainably throughout a business and provides visibility into utilities and plant equipment.

Read more here.

Berger Paints Q2 Results: Net profit falls 1% YoY to Rs 219 crore

Berger Paints Ltd reported a 1% YoY decline in consolidated net profit to Rs 219.21 crore for the quarter ended September (Q2 FY22). Its revenue from operations rose 27.68% YoY to Rs 2,225.01 crore during the same period. The paint manufacturer’s total expenses stood at Rs 1,939.59 crore in Q2, an increase of 31.7% YoY.

Read more here.

DLF to add 2.3 million sq. ft. in retail portfolio

DLF Limited will add 2.3 million square feet to its existing 4.2 million sq. ft. of retail portfolio with six new properties as part of its expansion plans. The realty company is introducing a new line of growth with the introduction of premium neighborhood plazas in Gurugram, Chennai, and Delhi. In addition to this, DLF Retail will be entering the Goa market with Patto Plaza, a 0.3 million sq. ft. premium offering at one of the most prime localities in the city. 

Read more here.

Alembic Pharma Q2 Results: Net profit falls 50% YoY to Rs 169 crore

Alembic Pharmaceuticals Ltd reported a 50% YoY decline in net profit to Rs 169.29 crore for the quarter ended September (Q2 FY22). Its revenue from operations fell 11% YoY to Rs 1,292.32 crore during the same period. The US generics business posted a 40% YoY fall in sales to Rs 348 crore in Q2. Revenue from its domestic formulations business stood at Rs 509 crore, registering a growth of 23% YoY. 

Read more here. 

UCO Bank enters co-lending agreement with Aadhar Housing Finance

UCO Bank has entered into a co-lending agreement with Aadhar Housing Finance to offer home loans at competitive rates. The partnership aims at providing easy and convenient home finance solutions to customers from the economically weaker sections of society. The co-lending framework of the Reserve Bank of India (RBI) provides a tool for banks and non-banks to collaborate, leverage on their respective strengths to give an affordable solution to the unserved and underserved sections.

Read more here.

Cadila Healthcare gets USFDA approval for pre-surgery injection

Cadila Healthcare has received final approval from the US Food & Drug Administration (USFDA) for Glycopyrrolate injection. The drug is used before surgery to decrease the volume of secretions from the mouth, lungs, and stomach. It will be manufactured at the group’s injectables manufacturing facility at CHL-Jarod, near Vadodara in Gujarat.

Read more here.

Cabinet approves ethanol price hike by up to Rs 1.4 per litre for blending in petrol

The Union Cabinet has hiked the price of ethanol extracted from sugarcane for blending in petrol by up to Rs 1.47 per litre for the 2021-22 marketing year, starting December. It is part of the government’s target to achieve 20% doping by 2025. Higher mixing of ethanol in petrol will help India cut its oil import bill and also benefit sugar cane farmers and sugar mills.

Read more here.

Bharti Airtel, Oracle enter into a data centre and cloud deal in India

Bharti Airtel and Oracle have extended their partnership to support the growth of India’s digital economy by bringing a range of industry-leading cloud solutions to more than 10 lakh enterprise customers. Oracle will expand its India West (Mumbai) region capacity with Nxtra by Airtel to support the increasing demand for cloud services in India. Nxtra by Airtel operates India’s largest data centre network of 10 hyper data centres and 120 edge data centres.

Read more here.