Shares of VIP Industries Ltd will be in focus in trade on Monday, July 14 as the promoters, Dilip Piramal and family, have entered into a definitive agreement with a group of sellers to offload 32 percent in the firm.
Multiples Private Equity Fund IV, Multiples Private Equity Gift Fund IV, Samvibhag Securities Pvt. Ltd., along with Mithun and Siddhartha Sancheti, have collectively agreed to acquire a 32 percent stake in VIP Industries. The transaction was officially announced on Sunday evening.
Global Stock Market Today
Benchmark Nifty index ended lower at 25150 spot levels after a cut of 205 points from its previous closing values.
Broader markets fell in line with the benchmark as Mid and Small cap indices were down 0.88% & 1.02% respectively.
Majority of sectoral indices, tracked at NSE, ended in red. Amongst them, Auto, IT, Media, Oil & Gas and PSU bank index were the worst hit, fell in range 1.14% to 1.78%. Pharma and FMCG index provided some support to the bulls, rose just over 0.5% each.
Technically, Nifty index breached the declining channel pattern on the lower side and it might come down to test next supports that are placed around 25000-24800 spot levels. Going ahead, we suggest traders to adopt stocks specific trading approach.
Derivatives Overview & Outlook
Last Friday, Nifty and Banknifty futures added 1.3% and 1.6% of open interest respectively as short buildup along with some long unwinding in Midcapnifty futures with decrease in open interest by 1%, while no significant change was seen in Finnifty futures on open interest front.
All the sectoral indices, barring Pharma, settled on a negative note . Amongst them, Finance, Technology and Telecom stocks witnessed maximum addition of short positions. On the other hand, some long buildup was seen in Pharma stocks.
On option front, call writing along with some put addition at lower strikes was seen at multiple strikes. Maximum positions are at 25500 CE followed by 26000 CE and maximum Put positions are at 24000 PE followed by 25000 PE.
Institutional Trading Activity
Last Week, FIIs sold stocks worth Rs 537 Cr in the cash segment, sold index futures worth Rs 7300 Cr also sold stocks futures worth Rs 7923 Cr. DIIs were net buyers in the cash segment to the tune of Rs 8291 Cr during this week.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25300-25400; Supports 25100-25000
Banknifty – Resistances 57200-57500; Supports 56700-56400
Finnifty – Resistances 27000- 27100; Supports 26800-26700
F&O Security in Ban Today: GLENMARK, HINDCOPPER & RBLBANK
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