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

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