Daily Market Update- Equity 14 Nov 2022 | Globe Capital Market LTD.
Daily Market Update- Equity 14 Nov 2022

Nifty index soared 320 points to settle at 18348 levels.

Overview and Outlook

Global Market Update

  • US equity markets ended on flat to positive note, Nasdaq gained 1.88%
  • European equity markets were mix,
  • Asian equity markets are also trading on a mix note
  • SGX Nifty is little changed (as on 8:22 AM)


News highlights from across the globe

  • The S&P 500 closed near session highs in the biggest weekly gain since June. The dollar slumped more than 1% on Friday in the biggest weekly drop since March 2020, causing the rupee to register strong gains.
  • Oil advanced for a third session as investors weighed the outlook for Chinese demand as the market tightens heading into winter.


Important news updates from the domestic front

  • NDTV: The open offer for the company will begin from Nov. 22 with VCPL, AMG Media Networks and Adani Enterprises as acquirers. Meanwhile, the company and its subsidiary, NDTV Networks, have put on hold the proposed sale of their 20% shareholding of Astro Awani Network, a Malaysia-based media company.
  • Life Insurance Corporation of India: The insurer increased its shareholding in Welspun Corp to 7.25% from 5.24%.
  • Hindustan Zinc: The board will convene on Nov. 16 to consider the proposal for an interim dividend for the current fiscal. The record date for the dividend, if declared, will be Nov. 24.
  • HEG: The company will start manufacturing of graphite anodes for lithium-ion cells as well as allied and ancillary products through incorporation of a subsidiary company.
  • Bharat Electronics: The company confirmed that it has signed an MoU with Aerosense Technologies for development and marketing of Drones and soft kill aerial anti drone.
  • Glenmark Pharmaceuticals: The pharma company reported a 1.1 percent year-on-year growth in profit at Rs 260.4 crore for the quarter ended September FY23, with revenue rising 7.2% YoY to Rs 3,375.2 crore for the quarter impacted by North America business that fell 0.1% YoY but India business grew by 12.7% and Europe 11.9% YoY.
  • ABB India: The company clocked a massive 68.6% year-on-year growth in profit at Rs 202.5 crore for the quarter ended September FY23 with revenue rising 19.2% YoY to Rs 2,119.7 crore. The strong performance for the quarter can be attributed to its expanding customer base and industry-leading product portfolio.
  • Zee Entertainment Enterprises: The media and entertainment company reported a 58% year-on-year decline in profit at Rs 112.8 crore for the September FY23 quarter, dented by weak operating performance and muted topline growth.


Nifty Outlook

Nifty index soared 320 points on the final trading session of the week to settle at 18349 levels.

Broader markets underperformed the benchmark as Mid & Small cap index ended on flattish note. This clearly goes to show that handful of large cap stocks drive markets higher.

Majority of sector gauges tracked at NSE settled in green, IT was at the top of the tally, up 3.8%.

We see bullish bias to persist, 18500 is next immediate levels that we are eyeing at while 18200/250 will act as immediate supports.


Derivatives Overview & Outlook

On Friday, both Nifty & Banknifty futures added around 2% & 15% of open interest respectively as long buildup.

On sectoral front, long buildup was seen among, Realty, Power, Banking and Metal stocks whereas some short covering was seen among IT and Media stocks.

On options front, put writing was seen at multiple strikes and maximum positions are at 19000 CE and 18000 PE.


FII & DII Trading Activity

Last week, FIIs bought stocks worth Rs 6058 Cr in the cash segment, bought stocks futures worth Rs 1759 Cr and sold index futures worth Rs 126 Cr. DIIs too were net sellers in the cash segment to the tune of Rs 2255 Cr during the week.


Earnings Today – Life Insurance Corporation of India, Hindalco Industries, Mahindra & Mahindra, EID-Parry (India), Bharat Heavy Electricals, Hindustan Aeronautics, Zydus Lifesciences, Jindal Saw, Glenmark Pharmaceuticals, Alkem Laboratories, Zee Entertainment Enterprises, Delhivery, Thermax, IPCA Laboratories, Mahanagar Gas, Fortis Healthcare, Alembic Pharmaceuticals, Astral, Medplus Health Services, Glaxosmithkline Pharmaceuticals, SJVN, Sun TV Network, Graphite India, Emami, JB Chemicals and Pharmaceuticals, Ujjivan Financial Services, Sobha, Bharat Dynamics, Krishna Institute of Medical Science, V-Mart Retail, Restaurant Brands Asia, Shilpa Medicare, Vedant Fashions, Lemon Tree Hotels, MOIL, Thyrocare Technologies, Easy Trip Planners, ABB India, Adani Power, Advanced Enzymes Technologies, Advanced Enzymes Technologies, Aether Industries, Borosil, DB Realty, Electronics Mart India, ESAB India, Exide Industries, Gujarat Ambuja Exports, Great Eastern Shipping Company, HBL Power Systems, HEG, IndiaBulls Real Estate, IDFC, Ingersoll-Rand(India), Ircon International, ISGEC Heavy Engineering, KRBL, LA Opala RG, Mirza International, Nirlon, NLC India, Procter & Gamble Health, Religare Enterprises, Reliance Infrastructure, R Systems International, Thomas Cook (India), Unichem Laboratories


Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, USE and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates.

Globe Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. Rolex Finvest Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited  are associates of GCML. Globe Comex International DMCC is step down subsidiary of GCML.

This report has been prepared by GCML and published in accordance with the provisions of Regulation 19 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, for use by the recipient as information only and is not for general circulation or public distribution. This report is not to be altered, transmitted, reproduced, copied, redistributed, uploaded, published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from GCML. The projections and the forecasts described in this report are based on estimates and assumptions and are inherently subject to significant uncertainties and contingencies. Projections and forecasts are necessarily speculative in nature, and it can be expected that one or more of the estimates on which the projections are forecasts were based may not materialize or may vary significantly from actual results and such variations will likely increase over the period of time. This report should not be construed as an offer to sell or the solicitation of an offer to buy, purchase or subscribe to any securities, and neither this report nor anything contained therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. It does not constitute a personal recommendation or take into account the particular investment objective, financial situation or needs of any individual in particular. The research analysts of GCML have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. The recipients of this report must make their own investment decisions, based on their own investment objectives, financial situation or needs and other factors. The recipients should consider and independently evaluate whether it is suitable for its/ his/ her/their particular circumstances and if necessary, seek professional / financial advice as there is substantial risk of loss. GCML does not take any responsibility thereof.

Any such recipient shall be responsible for conducting his/her/its/their own investigation and analysis of the information contained or referred to in this report and of evaluating the merits and risks involved in securities forming the subject matter of this report. The price and value of the investment referred to in this report and income from them may go up as well as down, and investors may realize profit/loss on their investments. Past performance is not a guide for future performance. Actual results may differ materially from those set forth in the projection.

This report has been prepared by GCML based on the information available in the public domain and other public sources believed to be reliable. Though utmost care has been taken to ensure its accuracy and completeness, no representation or warranty, express or implied is made by GCML that such information is accurate or complete and/or is independently verified. The contents of this report represent the assumptions and projections of GCML and GCML does not guarantee the accuracy or reliability of any projection, assurances or advice made herein. Nothing in this report constitutes investment, legal, accounting and/or tax advice or a representation that any investment or strategy is suitable or appropriate to recipients’ specific circumstances.

Since GCML or its associates are engaged in various financial activities, they might have financial interest or beneficial ownership in various companies including subject company/companies mentioned in the report. GCML or its associates have not received any compensation for investment banking or merchant banking from the subject company in the past 12 months.  GCML or its associates might have received any compensation including brokerage services and for products or services other than investment banking or merchant banking from the subject company in the past 12 months. It is confirmed that GCML or research analyst or its associates have not managed or co-managed public offering of securities for the subject company in the past 12 months.

Research analyst or GCML or its relatives’/associates’ have no material conflict of interest at the time of publication of this report. Neither research analyst nor GCML are engaged in market making activity for the subject company. It is confirmed that research analysts do not serve as an officer, director or employee of the subject company. It is also confirmed that research analyst have not received any compensation from the subject company in the past 12 months.

No material disciplinary action has been taken on GCML by any regulatory authority impacting Equity Research Analysis activities.

The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. This information is subject to change, as per applicable law, without any prior notice. GCML reserves the right to make modifications and alternations to this statement, as may be required, from time to time.

Research analyst or GCML or its relatives’/associates’ do not have actual/beneficial ownership of 1% or more in securities of the subject company, at the end of the month immediately preceding the date of publication of the document.