| Indian Market | 7-Mar-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Nifty | 15863.15 | -382.20 | -2.35% |
| Sensex | 52842.75 | -1491.06 | -2.74% |
| Banknifty | 32871.25 | -1536.55 | -4.47% |
| Indian Market | 7-Mar-22 | ||
|---|---|---|---|
| Other Indices | Close | Change | % chg |
| Nifty Mid-Cap 100 | 26865.90 | -651.20 | -2.37% |
| Nifty Small-Cap 100 | 9552.60 | -199.35 | -2.04% |
| India VIX | 29.33 | 1.37 | 4.90% |
| US Market | 7-Mar-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Dow 30 | 32817.38 | -797.42 | -2.37% |
| S&P 500 | 4201.09 | -127.78 | -2.95% |
| Nasdaq | 12830.96 | -482.48 | -3.62% |
| Currency / Commodity | 7-Mar-22 |
|---|---|
| Indices | Current |
| USD/INR | 77.10 |
| EUR/INR | 83.4650 |
| Dollar Index | 99.080 |
| US 10-year bond | 1.796% |
| WTI Crude Oil | $ 119.08 |
| Brent Crude Oil | $ 123.21 |
| Gold | $ 1991.40 |
| Bitcoin | $ 38,188 |
| FII / DII Activity | 7-Mar-22 | Rs. (In Crores) |
|---|---|---|
| (Provisional) | Buy | Sell |
| FII | 7482.08 | |
| DII | 5331.03 |
Trade Setup
- Indian market opened gap-down and was reacting to oil-shock over the weekend. Brent crude oil tested $130 in Monday’s opening trade, Banknifty underperformed with 4.47% down compared to Nifty with 2.35% cut.
- Wall street ended with 2.37% - 3.63% cut on major indices. Geo-political continues to nerve the market as sanctions on Russia have sky rocketed commodity prices.
- Nickel was up around 70% in yesterday’s trade. WTI & Brent crude oil cooled off from yesterday’s high, but still trading around $120. High commodity prices trigger the fear of stagflation.
- Exit poll of 5 state assembly was out yesterday with Uttar Pradesh in focus, exit-poll giving Yogi led BJP government to retain power. AAP expected to form government in Punjab, BJP may retain Manipur. Goa & Uttarakhand is showing neck-to-neck fight as per exit poll.
- SGX Nifty @ 15745 down 98 points at 8:25 AM.
Technical View
- Nifty RSI @ 30.47 & RSI average @ 37.70 is currently in over-sold zone, Nifty could take support at 15729 level.
- Nifty below 15729 could test 15379 and in case of technical bounce back – Nifty could test at 16447.
- Banknifty continues to underperform, RSI @ 27.04 RSI average @ 37.05. Banknifty now enter critical level, where technical bounce on chart is possible.
- VIX @ 29.33 – continues to remain at elevated level, we remain cautious and are seeing one strong bounce from Nifty holding on 15729 & Banknifty holding on to 31500 level.
Stock Updates
- Dish TV: SEBI passed an interim order against the company, promoter, and MD Jawahar Goel, and the board of directors for alleged violation of listing regulations. The capital markets regulator also directed the compliance officer to disclose the voting results of the AGM and told depositories to freeze the demat accounts of Dish TV’s directors and compliance officer until they are out.
- Natco Pharma: The company first generic version of Revlimid (Lenalidomide capsules) in the U.S. market for treatment of multiple myeloma in combination with the medicine dexamethasone, certain myelodysplastic syndromes, and mantle cell lymphoma following specific prior treatment. The capsules are available in 5 mg, l0 mg, 15 mg, and 25 mg strengths.
- NLC India: The company declared interim dividend of Rs 1.5/share.
- Metro Brands: The company declared interim dividend of Rs 1.5 per share. Chief Operating Officer Sahel Kamdar resigned.
- Axis Bank: Report on Citi India retail deal speculative. Lender denies taking any such decision.
- Future Retail: Shareholders, creditors to meet on April 20-21 to discuss the Reliance deal.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.