Yearly Archives: 2023

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Dec 31, 2023
Crude oil climbs 3rd day on subdued dollar, US crude stocks’ drop

Oil prices rose early on Wednesday, extending gains from the previous two days, as the dollar fell after Federal Reserve Chair Jerome Powell sounded less hawkish on interest rates than markets had expected and as U.S. crude stocks surprisingly fell. Brent crude futures inched up by 11 cents, or 0.1%, to $83.80 a barrel at 0119 GMT, adding to a 3.3% gain in the previous session.

U.S. West Texas Intermediate (WTI) crude futures advanced by 13 cents, or 0.2%, to $77.27 a barrel, after jumping 4.1% in the previous session. The dollar index was down slightly at 103.29 in early trade, extending losses after Powell’s comments on Tuesday, making oil cheaper for those holding other currencies.

“If we have stronger than expected growth out of the developing world, (oil) prices will be firmer and OPEC will have to step up output. That’s not our core view. We don’t see a big surge in demand,” he said.

Supporting the market, weekly inventory data from the American Petroleum Institute industry group showed crude stocks fell by about 2.2 million barrels in the week ended Feb. 3, according to market sources.That defied expectations from nine analysts polled by Reuters, who had estimated crude stocks grew by 2.5 million barrels.

However, gasoline and distillate inventories rose more than expected, with gasoline stocks up by about 5.3 million barrels and distillate stocks, which include diesel and heating oil, up by about 1.1 million barrels. The market will be looking to see if data from the U.S. Energy Information Administration, due at 1530 GMT, confirms the decline in crude stocks.

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Dec 31, 2023
Bank Nifty support at 34000, use Call Ladder strategy in Nifty to make profits on weekly F&O expiry day

By Rajesh Palviya

In Nifty current series there has been a Short Build Up witnessed with decrease in price of -3.24% and increase in OI by 21% as on Wednesday wherein there was addition of 17.83 lakh shares in OI, increasing from 85.15 lakh to 102.99 lakh shares. Nifty current month rollover stands at 21.26% as on Wednesday, while Nifty Put Call Ratio, a sentiment indicator used by traders to gauge the market sentiment and mood, is currently at 0.69 compared to 0.70 of last week, indicating a bounce back. India Vix, a market volatility indicator often called the fear gauge, is currently trading 22.80% compared to 20.29% of last week. Implied Volatility of Nifty ATM options for the current series is at 21.65% in contrast to 20.05% of last week, indicating volatile movement on either side in the expiry session.

Nifty Option OI concentration

Nifty Option OI Change 

Nifty Bank Outlook 

In the current series there has been a short addition witnessed in Bank Nifty Fut with an decrease in price of -4.76% and increase in OI by 39% as on Wednesday wherein there was addition of 9.81 lakh shares in OI, increasing from 25.20 lakh to 35 lakh shares. Bank Nifty current series rollover stands at 9% as on Wednesday, while Bank Nifty Put Call Ratio, a sentiment indicator used by traders to gauge the market sentiment and mood, is currently at 0.85 compared to 0.86 of last week indicating flat-to-positive move.

Bank Nifty Put options OI distribution shows that 34,000 has highest OI concentration followed by 34,500 & 33,500 which may act as support for current expiry and on the Call front 35,000 followed by 36,000 & 35,500 witnessed significant OI concentration and may act as resistance.

In weekly options Call writing seen at 35,000, 35,200 & 35,500 strike while on the put side it was seen at 34,500 , 34,000 & 34,400 Options data indicated an immediate trading range between 35,500 and 34,000 levels.

Bank Nifty OI Concentration 

Bank Nifty OI Change 

Nifty 50 trading strategy for weekly F&O expiry day

The strategy which we are suggesting for this weekly expiry dated 19th May is a Moderately Bullish strategy called as Call Ladder, which involves Buying of one lot of Nifty 16,200 Call @ 205 & selling of one lot each of 16,400 Call @ 112 & one lot of 16,600 Call @ 54. The cost of the strategy involves outflow of Rs 1,950 which is the maximum loss if Nifty trades & remains below 16,250 levels on expiry. The maximum profit of Rs 8,050 will be attained at 16,400 levels, while strategy will start making loss above 16,750, hence it’s advisable to exit the strategy in total to avoid unlimited losses above 16,750. Break Even points of the strategy are 16,761 on upside & 16,239 on the lower side.

(Rajesh Palviya, VP – Research (Head Technical & Derivatives), Axis Securities. Views expressed are the author’s own.)

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Dec 29, 2023
SEBI proposes to introduce 5 new categories under ESG funds

Capital markets regulator Sebi has proposed allowing mutual funds to introduce five new categories under ESG (environmental, social and governance) scheme.

The five new categories should be exclusions, integration, best-in-class and positive screening, impact investing and sustainable objectives.

Considering that AMCs may want to launch multiple diversified ESG schemes under the ESG category, Sebi has proposed that each asset management company should be permitted to launch one ESG scheme each under the five subcategories.

ESG schemes under the proposed new category should be permitted with a minimum 80 per cent investment of total assets in equity or debt stocks of a particular theme as per the sub-categories. However, the residual portion of the investment should not be starkly in contrast to the philosophy of the scheme.

“AMCs should endeavour to have a higher proportion of the assets under the ESG theme and make suitable disclosures,” the Securities and Exchange Board of India (Sebi) said in its consultation paper issued on Monday.

For the ESG exclusions scheme — the regulator has suggested that mutual funds should exclude securities based on certain ESG-related activities, business practices, or business segments and the ESG integration scheme should explicitly consider ESG-related factors that are material to the risk and return of the investment, along with traditional financial factors.

ESG best-in-class and positive screening scheme should invest in companies that perform better than peers in ESG parameters.

ESG impact investing scheme should seek a non-financial (real world) impact and evaluate if that impact is being measured and monitored; and ESG sustainable objectives scheme should aim to invest in sectors, industries, or companies that are expected to benefit from a long-term macro or structural ESG related trends.

To boost transparency, the regulator has proposed to mandate the AMCs to include the name of the particular ESG strategy in the name of the concerned fund or scheme.

In addition, the regulator has recommended mandating ESG schemes to disclose the name of the ESG rating provider alongside the score disclosures in the monthly portfolio disclosures.

The requirement should be made mandatory from April 1, 2023, Sebi suggested and sought comments from the public till March 6 on the proposals.

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Dec 28, 2023
Rupee opens flat, may depreciate on FII outflow, elevated crude prices; USDINR to trade in this range

Rupee opened marginally higher at 82.69 per dollar on Wednesday against the previous close of 82.70 per dollar. The local unit is expected to depreciate today amid persistent FII outflow and surge in crude oil prices. Meanwhile, investors will closely watch RBI’s monetary policy, where the central bank is expected to hike interest rate by 25 bps to 6.50%. “The US$INR is likely to surpass the hurdle of 82.85 to continue trading towards the level of 83.00,” said ICICIdirect.

Rupee to trade in 82.40 – 83.10 range

In the previous session, rupee recovered after Monday’s sharp sell-off amid long unwinding ahead of the RBI monetary policy decision. The stable dollar index and recovery in domestic equities also supported the rupee in today’s trade. However, the bias for the rupee remains bearish following foreign fund (FII) outflows and weak technical chart set-up. We believe the central bank may try to protect the level of 83 but the direction could be difficult to change. “In the near term, spot USDINR has support at 82.10 and resistance at 83.10,” said Dilip Parmar, Research Analyst, HDFC Securities.

USDINR to trade sideways

“Rupee consolidated in a narrow range and volatility remained low ahead of the important RBI policy meeting scheduled today. The central bank is expected to raise rats by 25bps but importantly market participants will be awaiting for cues on inflation and growth going ahead. While headline CPI has eased, core inflation remains sticky. Most investors expect that the stance could continue to be a withdrawal of accommodation, even as liquidity is close to neutral,” said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

“On the other hand, dollar traded with high volatility after the Federal Reserve Chairman said that disinflation “has begun” but is going to take time. He added that if the data shows that inflation is running hotter than the Fed expects, that will mean higher rates. A couple of Fed members are also expected to speak today and that could trigger further volatility for th greenback. We expect the USDINR(Spot) to trade sideways and quote in the range of 82.40 and 82.90,” Somaiya added.

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Dec 26, 2023
NSE Bulk deals, February 1: Manaksia, Mahalaxmi Rubtech, CMNL and other major deals that took place on Wednesday

Nitn Kapoor bought 71,561 shares of AKG Exim Ltd (AKG) at Rs 30.10 per share.

Anant Aggarwal bought 44,800 shares of Aristo Bio-Tech and Lifescience Ltd (ARISTO) at Rs 82.84 per share.

Madhu Devi Godha sold 16,70,514 shares of Godha Cabcon Insulat Ltd (GODHA) at Rs 1.50 per share.

Econo Trading & Investment Pvt Ltd bought 99,697 shares of Goyal Aluminiums Ltd (GOYALALUM) at Rs 202.40 per share.

Millennial Family Trust bought 56,000 shares of Globesecure Techno Ltd (GSTL) at Rs 96.15 per share.

Sanjay B Shah (HUF) sold 21,000 shares of Homesfy Realty Ltd (HOMESFY) at Rs 526.89 per share.

Vignesh sold 2,32,828 shares of Jet Freight Logistics Ltd (JETFREIGHT) at Rs 20.15 per share.

Kumar Sandeep bought 5,03,329 shares of Manaksia Ltd (MANAKSIA) at Rs 130.98 per share.

Amaysha Textiles Pvt Ltd bought 1,55,748 shares of Mahalaxmi Rubtech Ltd (MHLXMIRU) at Rs 256.32 per share.

Vipulkumar Kalyanji Thakor sold 17,000 shares of Richa Info Systems Ltd (RICHA) at Rs 104.00 per share.

Nakshatra Tradelink Pvt Ltd sold 3,32,472 shares of SecUR Credentials Ltd (SECURCRED) at Rs 26.24 per share.

Anshul Aggarwal bought 84,000 shares of Shri Ram Switchgears Ltd (SRIRAM) at Rs 6.70 per share.

A bulk deal is one in which the total number of shares purchased or sold exceeds 0.5% of the company’s share capital. A bulk deal can be completed using either the usual trading window or the block trading window. If a bulk deal is conducted through the block window, the trade must be notified to the exchange promptly.

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Dec 21, 2023
Kishangarh Bas Rajasthan Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

Kishangarh Bas RJ Assembly Election 2023 Details: The election for Kishangarh Bas Assembly Constituency in Rajasthan will be held on November 25 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Kishangarh Bas Constituency Assembly Election 2023 that you should know.

Kishangarh Bas Constituency Rajasthan Assembly Election 2023: Voting Date

November 25 is the date of voting for the Kishangarh Bas Assembly Constituency Election 2023 as announced by the Election Commission of India.

Kishangarh Bas Constituency Rajasthan Election 2023: Candidates List

Bharatiya Janta Party (BJP), Congress and other political parties in the state will announce their candidates for the Kishangarh Bas Assembly Constituency Election 2023 after the announcement of voting dates by the Election Commission of India.

Why Kishangarh Bas Constituency Assembly Election 2023 is Important

Kishangarh Bas is a state Assembly/Vidhan Sabha constituency in the state of Rajasthan and is part of the Kishangarh Bas Lok Sabha/Parliamentary constituency. Kishangarh Bas falls in the Kishangarh Bas district of Rajasthan and is categorised as an urban seat.

Kishangarh Bas Constituency RJ Election Result: What happened in 2018

Deepchand of the Bahujan Samaj Party was the winning candidate from the Kishangarh Bas constituency in the RJ Assembly elections 2018, securing 73799 votes while 63883 votes were polled in favour of Ramhet Singh Yadav of the Bharatiya Janata Party. The margin of victory was 9916 votes.

2018 Kishangarh Bas Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesDeepchandBahujan Samaj Party73799

Candidate List Party Name Votes Gained (Vote %) Deepchand Bahujan Samaj Party 73799 (41.12%) Ramhet Singh Yadav Bharatiya Janata Party 63883 (35.59%) Dr Karan Singh Yadav Indian National Congress 39033 (21.75%) None Of The Above None Of The Above 980 (0.55%) Jagdish Chandra Abhinav Rajasthan Party 691 (0.38%) Subedin Aam Aadmi Party 680 (0.38%) Sahabuddin Khan Bharatiya Yuva Shakti 424 (0.24%)

Kishangarh Bas Constituency RJ Election Result: What happened in 2013

Ramhet Singh Yadav of the Bharatiya Janata Party was the winning candidate from the Kishangarh Bas constituency in the RJ Assembly elections 2013, securing 71354 votes while 56538 votes were polled in favour of Deep Chand Khairiya of the Indian National Congress. The margin of victory was 14816 votes.

2013 Kishangarh Bas Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesRamhet Singh YadavBharatiya Janata Party71354

Candidate List Party Name Votes Gained (Vote %) Ramhet Singh Yadav Bharatiya Janata Party 71354 (46.43%) Deep Chand Khairiya Indian National Congress 56538 (36.79%) Dr Dinesh Yadav Independent 13313 (8.66%) Sapat Khan Bahujan Samaj Party 8530 (5.55%) None Of The Above None Of The Above 1722 (1.12%) Shyam Lal Independent 1012 (0.66%) Kurshed Janata Dal (secular) 328 (0.21%) Shiv Kumar Gour Jammu & Kashmir National Panthers Party 255 (0.17%) Mintu Kumar Indian Peoples Green Party 226 (0.15%) Shahbudin Bharatiya Yuva Shakti 222 (0.14%) Raju Samajwadi Party 186 (0.12%)

Kishangarh Bas Constituency RJ Election Result: What happened in 2008

Ramhaet Singh of the BJP was the winning candidate from the Kishangarh Bas constituency in the RJ Assembly elections 2008, securing 31594 votes while 29484 votes were polled in favour of Deep Chand of the INC. The margin of victory was 2110 votes.

2008 Kishangarh Bas Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesRamhaet SinghBJP31594

Candidate List Party Name Votes Gained (Vote %) Ramhaet Singh BJP 31594 (26.48%) Deep Chand INC 29484 (24.71%) Sher Mohmed BSP 17835 (14.95%) Om Prakash Rogha IND 16401 (13.75%) Bharat Yadav IND 11851 (9.93%) Dr Veer Singh IND 2484 (2.08%) Jameel Khan IND 2400 (2.01%) Het Ram LJP 2088 (1.75%) Sahab Singh IND 1294 (1.08%) Suraj Bhan IND 845 (0.71%) Shyam Lal IND 491 (0.41%) Rohitash IND 461 (0.39%) Mool Chand IND 388 (0.33%) Anil Kumar IND 357 (0.3%) Suresh Chand IND 308 (0.26%) Tej Prakash IND 265 (0.22%) Inder Singh IND 236 (0.2%) Babu Lal IND 173 (0.15%) Dayananad Jat IND 133 (0.11%) Ashok IND 116 (0.1%) Daulat Ram (bharti) IND 97 (0.08%)

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Dec 21, 2023
Adani Enterprises share price rises 25%, Adani Transmission hits upper circuit as Hindenburg effect dims

Adani Enterprises shares surged 25% today, touching an intraday high of Rs 1965.50 on BSE after a freefall of 54% over the last eight trading sessions in the aftermath of the Hindenburg Research report, which accused the Adani group of manipulating stocks and money laundering. The other shares of the Adani group companies too were broadly trading in the green today. Adani Transmission shares were locked in the upper circuit, rising 5% to Rs 1324.45 after the company’s net profit rose 73% on-year to Rs 478 crore, aided by a one-time income of Rs 240 crore from a regulatory order. Adani Ports and Special Economic Zone shares rose 6.35% to Rs 580.70, ahead of its fiscal third quarter results due later today. Adani Green shares rose 2.75% to Rs 912.00; Adani Wilmar shares rose 5% to Rs 399.40; Adani Power Ltd fell 2% to Rs 178.80; and Adani Total Gas slipped 5% to Rs 1467.50.

The rise in the Adani stocks follows the announcement made by the group on Monday that it will prepay loans backed by pledged shares across group companies Adani Green, Adani Transmission, and Adani Ports. Adani Green said that the group promoters have posted as much as $1.1 billion of amount towards prepayment of the share-backed facility ahead of its maturity of September 2024. Adani group has released 12% of the promoter holding in Adani Ports; 3% of promoter holding in Adani Green; and 1.4% of promoter holding in Adani Transmission.

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Dec 20, 2023
Rating: add; Equitas SFB – Steady improvement

Equitas Small Finance Bank reported 57% y/y earnings on the back of 24% y/y operating profit growth and 35% y-o-y decline in provisions resulting in RoA crossing 2% and RoE nearing 15%. Total stress pool declined with gross/net NPL ratios down 30/20 bps q/q. Growth momentum improved with loan growth implying business normalisation.

Retain ADD rating . NII growth of 20% y/y drove strong revenue performance, while operating expenses were up 16% y/y driven by employee additions. AUM growth was broad-based with all the key segments (SBL, MFI and vehicle finance) growing at 25-30% y/y, indicating management’s comfort in growing across the board.

Estimates indicate that 36% of the peak restructured book has slipped into NPA in the past 4 quarters. While slippages were higher than expected, the broader improvement in trend on delinquencies and net slippages give us comfort on asset quality improvement. While Covid posed a challenge for bank’s customer base, a low share of unsecured loans prevented a sharp deterioration in asset quality.

Higher focus on business growth should now help the bank report steady improvement in earnings.

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Dec 19, 2023
Nifty slips below 17850, Sensex falls 200 pts in early trade on Fri, Feb 10; Zomato shares tank 4%, LIC gains 2%

Domestic equity indices opened in the red on Friday amid weak global cues. The BSE Sensex fell 244 pts or 0.40% to 60,562.17 and NSE Nifty 50 slipped 75.70% or 0.42% to 17,817.75. The top gainers on Sensex were Larsen & Toubro (up 0.82%), Power Grid (up 0.52%), State Bank of India (SBIN) (up 0.0.48%), Bajaj Finance (up 0.42%) and UltraTech Cement (up 0.40%) while HCL Tech (down 2.29%), Tata Steel (down 1.93%), Wipro (down 1.08%), Infosys (down 1.04%) and Reliance Industries Ltd (down 1.05%) were the top laggards.

Zomato shares tanked 4.41% to Rs 52.00 after the company’s fiscal third-quarter net loss widened over five-fold on-year to Rs 343 crore from Rs 66 crore, mainly due to an exceptional gain in the same quarter last year.

Sectoral Indices

The sectoral indices were trading mostly lower. Bank Nifty fell 0.09%, Nifty Auto was down 0.15%, Nifty FMCG was down 0.38%, Nifty Pharma was down 0.71%, Nifty Realty was down 0.48%, and Nifty Metal dropped 1.63%.

Asian and US stock markets

Most of the Asian markets were trading in red with China’s Shanghai Composite index falling 0.16%, Hong Kong’s Hang Seng dropping 1%, South Korea’s KOSPI dipping 0.48% and Japan’s Nikkei 225 rising 0.53%.

The US markets ended the overnight session lower. The Dow Jones Industrial Average fell 249.13 pts or 0.73% to 33,699.88, S&P 500 sank 36.36 pts or 0.88% to 4,081.50 and Nasdaq tanked 120.94 pts or 1.04% to 11,789.58.

FII and DII data

Foreign institutional investors (FII) sold shares worth a net Rs 144.73 crore while domestic institutional investors (DII) offloaded shares worth a net Rs 205.25 crore on Thursday, February 9, 2023, according to the data available on NSE. For the month till February 9, FIIs sold shares worth a net Rs 6,872.23 crore while DIIs bought shares worth a net Rs 6,744.39 crore.

NSE F&O Ban

Indiabulls Housing Finance and Ambuja Cements are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Friday, February 10. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). 

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Dec 18, 2023
Rupee gains 10 paise to close at 82.72 against US dollar

The rupee appreciated by 10 paise to close at 82.72 (provisional) against the US dollar on Monday, as the American currency retreated from its elevated levels.

Forex traders said a muted trend in domestic equities and foreign fund outflows weighed on investor sentiments and restricted the appreciation bias.

During the trading session, the rupee touched a high of 82.62 and a low of 82.74 against the dollar.

Also read: Global trends, FIIs activities to dictate domestic markets; Apollo Tyres, Bajaj Finance among top stock picks

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.04 per cent to 103.90.

Global oil benchmark Brent crude futures advanced 1.05 per cent to USD 83.87 per barrel.

“Rupee traded strong near 82.75 as dollar index traded below USD 104 guiding rupee strength. Asian currencies were trading strong on the back of weakness in the dollar,” said Jateen Trivedi, VP Research Analyst at LKP Securities.

Also read: Sensex rises 130 pts, Nifty above 17950 in early trade on Monday, Feb 20; HUL stock gains, Cipla shares fall 5%

Trivedi further noted that the US Fed’s minutes update will be keenly watched this week for further trend.

On the domestic equity market front, the 30-share BSE Sensex declined 311.03 points or 0.51 per cent to end at 60,691.54, while the broader NSE Nifty fell 99.60 points or 0.56 per cent to 17,844.60.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday as they offloaded shares worth Rs 624.61 crore, according to exchange data.

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