Daily Market Update- Equity 8 Aug 2022 | Globe Capital Market LTD.
Daily Market Update- Equity 8 Aug 2022

Nifty index ended flat after a lackluster trading session, closed shop at 17397 levels, up 15 points from its previous closing value.

Overview and Outlook

Global Market update

  • US equity markets ended mix, Down Jones gained 0.23% while Nasdaq lost 0.5%
  • European equity markets also settled on flat to negative note
  • Asian equity markets are mix
  • SGX Nifty is little changed, down 39 points (as on 8:17 AM)


News Highlights from across the globe

  • Saudi Arabia raised oil prices for Asian buyers to record levels, a sign the world’s largest exporter sees the region’s market remaining tight despite concerns that a slowing global economy may hurt demand.
  • U.S. stocks had ended with weekly gains as a surprisingly strong jobs report eased recession fears but increased chances of a large rate hikes by the Fed at its next meeting.


Important news & Earnings Updates from the domestic front

  • Foreign portfolio investors have have net invested Rs 14,000 crore in the first week of August, after having turned net buyers in July.
  • State Bank of India: The country’s largest lender reported a 6.7 percent year-on-year decline in profit at Rs 6,068 crore for the quarter ended June FY23 impacted by lower operating profit and other income, though supported by lower provisions. Net interest income during the quarter grew by 12.87 percent YoY to Rs 31,196 crore, but operating profit declined 32.8 percent YoY to Rs 12,753 crore.
  • SJVN: The company has bagged 200 MW Solar Project at Rs 2.90/unit on build, own and operate basis from Maharashtra State Electricity Distribution Company. The tentative cost of construction / development of this project is around Rs 1,200 crore and the PPA shall be signed for 25 years.
  • Indian Bank: The bank revised Repo Benchmark Rate for all loans from 4.9% to 5.4% and Repo Benchmark Lending Rate from 7.7% to 8.2%. The revision in rates is effective from Aug. 6.
  • NTPC: The company commissioned 250 MW Kolyat, Bikaner Solar PV Project at Bikaner, Rajasthan. With this, the company’s installed and commercial capacity will become 69,433 MW.
  • Marico: The FMCG company reported a 3.3 percent YoY increase in consolidated profit at Rs 377 crore for the June FY23 quarter supported by higher operating performance.
  • One 97 Communications: Digital payments platform operator Paytm has posted consolidated loss of Rs 645.4 crore for the quarter ended June FY23, widening from loss of Rs 381.9 crore in same period last fiscal. Revenue from operations grew by 88.5 percent to Rs 1,679.60 crore during the same period.


Nifty Outlook

Nifty index ended flat after a lackluster trading session, closed shop at 17397 levels, up 15 points from its previous closing value.

Broader markets performance was in line with benchmark, Mid cap index was up 0.22% while Small cap index was almost flat. Market breadth was slightly tilted towards the advancing side.

Sector performance was mix, Auto, Consumer Durable index lost maximum, down over 1% each.

Nifty index is trading in range 17200-500 levels; an either side break is needed for next directional move.


Derivatives Overview & Outlook

On Friday, Nifty futures remained almost unchanged on the price front and added around 2% of open interest whereas Banknifty futures added around 4% of open interest as long buildup.

On sectoral front, long buildup was seen among Cement, Infra and Textile stocks whereas some short buildup was seen among Auto and Realty stocks.

On options front, put writing was seen at multiple strikes along with call writing at multiple strike and maximum positions are at 17000 PE and 18000 CE closely followed by 17500 CE.


FII & DII Trading Activity

Last week, FIIs bought stocks worth Rs 14312 Cr in cash segment, bought stocks futures worth Rs 1257 Cr, and sold index futures worth Rs 1135 Cr. DIIs were net sellers in the cash segment to the tune of Rs 1765 Cr during the week.


Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 17500-17600; Supports 17275-17175

Banknifty Futures – Resistances 38250-38600; Supports 37550-37250


Earnings Today

Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid Corporation of India, NALCO, Astrazeneca Pharma India, Chemcon Speciality Chemicals, City Union Bank, Delhivery, Dhanlaxmi Bank, Gujarat Narmada Valley Fertilizers & Chemicals, Housing & Urban Development Corporation, JK Tyre & Industries, Jaypee Infratech, Vedant Fashions, Samvardhana Motherson International, Sequent Scientific, Sun Pharma Advanced Research Company, Subex, Torrent Power, Whirlpool of India




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