Daily Market Update- Equity 20 Feb 2023 | Globe Capital Market LTD.
Daily Market Update- Equity 20 Feb 2023

Benchmark Nifty index settled lower at 17944 levels, down 91 points from its previous closing values.

Overview and Outlook

Global Market Update

  • US equity markets ended mix Nasdaq was down 0.58% while Dow jones ended flat to positive note
  • European equity markets settled on flat to negative note
  • Asian equity markets are trading mix
  • SGX Nifty is trading up by 30 points (as on 8:17 AM)


News highlights from across the globe

  • The dollar rose in early trading on Monday, adding to a third week of gains as hawkish comments by Federal Reserve officials and geopolitical tensions bolstered the appeal of the greenback.
  • The yield on 10-year Treasuries advanced to 3.81%. Crude prices were trading around $83-mark.


Important news updates from the domestic front

  • Infosys: The company appointed Shaji Mathew as group head of human resources, effective March 22, 2023, after the retirement of Krish Shankar from the post.
  • Hindustan Unilever: The company will sell its ‘Annapurna’ and ‘Captain Cook’ brands to Uma Global Foods Pte. Ltd. (Singapore) and Uma Consumer Products Pvt. Ltd. (India), subsidiaries of Reactive Brands International, for Rs 60.4 crore.
  • Marico: The board will meet on Feb. 27 to consider and approve interim dividend for the current fiscal.
  • Ambuja Cements/ACC: The index committee has decided to drop the stocks of the two companies from S&P BSE 100 ESG Index, effective at the open of Wednesday, February 22, 2023. The companies came under review after they were flagged under the Media and Stakeholder Analysis list.
  • United Breweries: Rishi Pardal resigned from the position of managing director and CEO of the company on Feb. 16, effective six months from his date of resignation.
  • Max Ventures and Industries: Max Estates, the real estate arm of the company, has entered the residential real estate market in Gurugram through a joint development agreement, with development potential of 2.4 million square feet and gross development value over Rs 3,200 crore.
  • Pennar Industries: The company received orders worth Rs 851 crore across its various business verticals.


Nifty Outlook

Benchmark Nifty index settled lower at 17944 levels, down 91 points from its previous closing values.

Mid cap index underperformed the benchmark, lost 1.04% while small cap index traded in line with benchmark. Market breadth was inclined towards the declining side as 1397 declines were recorded against 837 advances at NSE.

All sectoral gauges tracked at NSE settled in red. Nifty Realty and PSU Bank index lost maximum, down 1.78% and 1.55% respectively.

Nifty index manage to close above 17900 levels. Going ahead, we reiterate our bullish view on Nifty index till it is holding above 17900 levels on closing basis.


Derivatives Overview & Outlook

On Friday, both Nifty and Banknifty futures added around 1.5% & 15.5% of open interest respectively as short buildup.

Majority of F&O sectors settled lower. Amongst them, Banking and Media stocks witnessed maximum addition of short positions.

On options front, call writing was seen at multiple strikes with maximum writing at 18000 strikes  and maximum positions are also at 18000 CE and 18000 PE.


FII & DII Trading Activity

Last week, FIIs bought stocks worth Rs 4005 Cr in the cash segment, bought stocks futures worth Rs 2171 Cr and also bought index futures worth Rs 2239 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 2736 Cr.



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.