International Markets:

U.S & Europe

Particulars 19th Feb Chg Chg(%)
Nasdaq 9817.18 84.44 0.87
Dow 29348.03 115.84 0.40
FTSE 7457.02 75.01 1.02
CAC 6111.24 54.42 0.90
DAX 13789.00 107.81 0.79
Dow Fut.* 29337.00 0.00 0.00

*As per 20th feb

Asian markets:

Particulars 20th Feb. Chg Chg(%)
SGX Nifty* 12115.50 -30.50 -0.25
Nikkei 23630.23 229.53 0.98
Straits Times 3204.36 -9.35 -0.29
Hang Seng 27570.56 -85.25 -0.31
Shanghai 2980.57 5.17 0.17

 

ADR Watch:

Particulars 19th  Feb Chg Chg(%)
Dr Reddy 45.65 0.39 0.86
HDFC Bank 58.44 -0.31 -0.53
ICICI Bank 15.16 0.09 0.60
Infosys 11.30 0.09 0.80
Tata Motor 11.12 -0.09 -0.80
Wipro 3.83 0.03 0.79

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.600 0.00
Brent 59.57 0.76
Gold 1612.40 0.04
Silver 18.348 0.20

 

FIIs & DIIs

Particulars 19th  Feb. 18th  Feb.
FIIs -190.66 -74.39
DIIs 590.12 -309.43

 

View on market: Buy on dips

 

Japanese stocks gained after a slide in the yen, while stocks elsewhere in Asia opened with more modest gains as investors scrutinized the infection rate for the coronavirus after another methodology change in China. Shares in South Korea and Australia opened firmer. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded little changed at 12,115.50 as of 8 a.m.

 

Key Data/ Action, Result and Board meeting to watch:

 

NCC and Yes Bank are under the F&O ban for February 20. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

Fund View:

 

Aurobindo Pharma Citi Maintained ‘Buy’ with a price target at Rs 820. OIA classifaction was a key concern on the street. Expect 10-12 percent annual approvals from this facility. VAI for Unit IV a key positive catalyst.

Hero MotoCorp Citi Maintained ‘Buy’ with a price target at Rs 3,200. Company is planning to invest Rs 10,000 crore in R&D facilities over the next 5-7 years. After Xtreme and Xpulse, co plan to foray into bigger bikes. Now only three models left on BS-IV The company sees some pre-buying demand ahead of BS-VI

 

News Update:

 

GAIL clarified that it had received provisional assessment orders towards AGR dues worth Rs 1.83 lakh crore. The company said that telecom dues matter under examination and the amount assessed in the telecom dues order is legally not tenable. The company has filed an application with Supreme Court on Jan. 23 for seeking clarification of judgment passed.
Vodafone Idea: Brickwork Ratings downgraded company’s NCDs worth Rs 2,500 crore to BWR BBB- from BWR BB-.

Reliance Industries assessing U.S. sanctions implication on Rosneft unit and will comply with the U.S. rules in its dealings with Rosneft. The entire company’s purchase of Venezuela crude oil is reported to and permitted by the U.S. government.

NIIT to merge its two wholly-owned arms NIIT Institute of Process Excellence and NIIT Yuva Jyoti, with self. The company has approved the proposal of voluntary liquidation of both the afore-mentioned arms.

Sterlite Technologies received orders worth Rs 1,500 crore in new order bookings from European Telecom players. Orders range from optical connectivity solutions and network services.

Infibeam Avenues to foray into digital payments business in the U.S.

Jain Irrigation Systems expects consensus among lenders regarding the company’s debt resolution to emerge in the next two to three weeks, Anil Jain, managing director said in the firm’s earnings call, according to a Bloomberg report.

Fed policymakers cautiously optimistic on US economy despite new risks: Minutes Federal Reserve policymakers were cautiously optimistic about their ability to hold interest rates steady this year, minutes of the central bank’s last policy meeting showed, even as they acknowledged new risks caused by the coronavirus outbreak.

The readout on Wednesday of the policy discussion, at which policymakers unanimously voted to keep interest rates unchanged in a target range of between 1.50% and 1.75%, also showed Fed officials were skeptical about any big rethink of the central bank’s inflation target

Oil up on slowing pace of coronavirus, Venezuela sanctions Benchmark Brent oil prices rose for a seventh consecutive day after demand worries eased with a slowing of new coronavirus cases in China and supply was curtailed by a US move to cut more Venezuelan crude from the market.

Brent was up 71 cents at $58.46 a barrel at 1510 GMT. The global benchmark has risen nearly 10% since falling last week to its lowest this year. US oil was up 53 cents at $52.58 a barrel.

 


DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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