17 Sep 20
BSE CLOSED @ 38979.85 ❌ 323.00 Points
NSE CLOSED @ 11516.10 ❌ 88.45 Points
BankNifty Closed 22320.35 ❌ 253.20 Points
India VIX Closed 20.1000 ✅ 0.4400 Points.
Thursday 17 September 2020
Stocks To Watch
HCL Technologies: Announces expansion of strategic partnership with Google Cloud.
Aviation Stocks: Civil Aviation Minister Hardeep Singh Puri, in a written reply to parliament said that airline operators have sought government help to ask banks to defer loan repayments by six months and not to classify such loans as an NPA. Carriers have also sought Aviation Turbine Fuel (ATF) to be included under the GST regime and excise duty on jet fuel to be abolished.
Dhanuka Agritech: Sets September 28 as record date for buyback of shares. The board had approved a buyback worth Rs 100 crore at Rs 1,000 per share on July 22.
ICICI Bank: Board approved proposal to resume seeking approval from RBI for the appointment of Sandeep Batra as a whole-time director (designated as Executive Director) of the bank, for a period of five years.
Suven Pharma: September 28 set as record date for bonus issue. The company had approved a 1:1 bonus issue on August 17.
Puravankara: Board approves raising Rs 70 crore through NCDs.
Intellect Design Arena: Company’s banking platform has gone live for Bank of Bahrain and Kuwait.
HSIL: To consider share buy-back on Sept.21.
Deepak Nitrite: CRISIL upgrades long-term rating outlook of the company's bank loan facilities worth Rs 750 crore to CRISIL AA-/Positive from CRISIL AA-/Stable. It has also re-affirmed the short-term rating as CRISIL A1+.
Sanofi India: Charles Billard resigns as CFO from September 30, to take up a new role within the group. He will continue as the non-executive director of the company.
India Energy Exchange: Dalmia Cement (Bharat) acquired 70 lakh shares (2.34%) at Rs 206.2 per share and DPVL Ventures sold 70 lakh shares (2.34%) at Rs 206.2 per share
FNO ANALYSIS
F&O Cues
Nifty September futures closed at 11,612; premium of 7 points from 12 points
Nifty September futures add 4.4% and 5 lakh shares in Open Interest
Nifty Bank September futures closed at 22,646; premium of 72 points from 131 points
Nifty Bank September futures shed 3% and add 51,000 shares in Open Interest
Nifty Put-Call Ratio at 1.32
Enters F&O Ban: Aurobindo Pharma
Stocks In F&O Ban: Adani Enterprises, Aurobindo Pharma, Bank of Baroda, BHEL, Canara Bank, Escorts, Indiabulls Housing Finance, JSPL, Tata Chemicals, Vedanta, Vodafone Idea
Nifty Weekly Expiry: September 17
Maximum Open Interest on Call side at 11,700 strike (27.7 lakh shares)
Maximum Open Interest on Put side at 11,500 strike (31.7 lakh shares)
Active Options: 11,600 Put (14.9 lakh shares) and 11,500 Call (-11.4lakh shares)
Nifty Monthly Expiry: September 24
Maximum Open Interest on Call side at 12,000 strike (26.2 lakh shares)
Maximum Open Interest on Put side at 11,500 strike (32.2 lakh shares)
Stocks in the news
HCL Technologies: The company and Google Cloud expanded partnership to deliver accelerated business intelligence platform.
Action Construction Equipment: ICRA assigned a long-term rating of AA- with a stable outlook to Rs 395 crore bank facilities of the company.
Genus Paper & Boards: SEBI imposed a penalty on three erstwhile promoters (including the company) of Genus Prime Infra for certain non-compliances of regulations.
GMR Infrastructure: Promoter entity GMR Enterprises created a pledge on 3.75 crore equity shares of the company.
B&A Packaging India: CRISIL upgraded the company's long term credit rating to BBB/Stable from BBB-/Stable and short term rating to A3+ from A3.
Dhanuka Agritech: The company approved the proposal of buyback of shares worth up to Rs 100 crore and fixed September 28 as record for determining the entitlement of equity shareholders.
FNO BAN STOCKS 17.09.20
Securities in Ban For Trade Date 17-SEP-2020:
ADANIENT
AUROPHARMA
BANKBARODA
BHEL
CANBK
ESCORTS
IBULHSGFIN
IDEA
JINDALSTEL
TATACHEM
VEDL
Some key events coming
Here are some key events coming up:
Bank of Japan, Bank Indonesia and Bank of England policy decisions come Thursday.
Friday sees quadruple witching -- the quarterly expiration of futures and options on indexes and stocks -- in U.S. markets
These are some of the main moves in markets:
Stocks
The S&P 500 fell 0.5% as of 4 p.m. New York time.
The Stoxx Europe 600 Index climbed 0.6%.
The MSCI Asia Pacific Index increased 0.6%.
Currencies
The Bloomberg Dollar Spot Index declined 0.1%.
The euro was little changed at $1.1817.
The Japanese yen was little changed at 104.96 per dollar.
Bonds
The yield on 10-year Treasuries gained two basis points to 0.70%.
Germany’s 10-year yield fell one basis point to -0.48%.
Britain’s 10-year yield decreased one basis point to 0.211%.
Commodities
The Bloomberg Commodity Index gained 0.7%.
West Texas Intermediate crude increased 5% to $40.18 a barrel.
Gold was little changed at $1,959.20 an ounce.
World Market News
Asia stocks dip as the Fed signals low rates for years; Australia’s August jobs data ahead
Stocks in major Asia-Pacific markets mostly traded lower Thursday morning as investors react to overnight developments from the U.S. Federal Reserve.
Japan’s Nikkei 225 slipped 0.14% in early trade while the Topix index hovered above the flatline. South Korea’s Kospi shed 0.18%.
In Australia, the S&P/ASX 200 traded slightly lower.
Overall, the MSCI Asia ex-Japan index shed 0.13%.
On the economic data front, Australia’s employment data for August is expected to be out at around 9:30 a.m. HK/SIN.
The Bank of Japan is also set to release its monetary policy statement at around 12:30 p.m. HK/SIN.
Fed reaction watched
Investor reaction was watched, as members of the U.S. central bank’s policymaking committee indicated the overnight rate could stay close to zero for years to reach its 2% inflation target.
“With regard to interest rates, we now indicate that we expect it will be appropriate to maintain the current zero to 0.25% target range for the federal funds rates until labor market conditions have reached levels consistent with the committee’s assessments of maximum employment and inflation has risen to 2% and is on track to moderately exceed 2% for some time,” said Fed Chairman Jerome Powell.
Overnight on Wall Street, the Dow Jones Industrial Average closed 36.78 points higher, or 0.1%, at 28,032.38. The S&P 500, meanwhile, slipped 0.5% to finish its trading day at 3,385.49. The tech-heavy Nasdaq Composite dropped 1.3% to close at 11,050.47.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, sat at 93.179 after earlier rising from levels below 93.0.
The Japanese yen traded at 104.98 per dollar following its strengthening yesterday from levels above 105.2 against the greenback. The Australian dollar changed hands at $0.7291 after seeing levels around $0.733 yesterday.
Oil prices nudged higher in the morning of Asian trading hours, with international benchmark Brent crude futures up slightly at $42.25 per barrel. U.S. crude futures hovered above the flatline at $40.17 per barrel.
World Market
Asian stocks headed for a cautious start Thursday after the Fed's latest comments, and tech shares retreated in the U.S. Futures were flat in Japan while those in Hong Kong and Australia slipped. The S&P 500 Index earlier erased gains to end the session lower after Powell said he’s not sure if the faster-than-expected recovery will continue. A tumble in tech behemoths such as Apple and Facebook also dragged down the gauge. The Treasury yield curve steepened as Powell stopped short of offering new specifics on the Fed’s approach to the monthly bond purchases that have buttressed markets. Some traders may have been expecting signals regarding plans to target longer maturities. The dollar was little changed. Elsewhere, oil surged after government data showed shrinking U.S. crude stockpiles.
The S&P 500 initially jumped as the Fed signaled it would hold rates near zero through at least 2023. The rally quickly fizzled out after Powell said he’s not sure if the faster-than-expected recovery will continue. A tumble in tech behemoths such as Apple and Facebook also dragged down the gauge. The Treasury yield curve steepened as the U.S. central bank stopped short of offering new specifics on its approach to the monthly bond purchases that have buttressed markets. Some traders might have been expecting signals regarding plans to target longer maturities.
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