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CAPITALSTARS PRESENT MONDAY CURRENT MARKET NEWS : 19 October 2020

19 second

Shares turn rangebound; metal stocks rise for 2nd day.

Key barometers traded in a narrow range in early afternoon trade. Hopes of fresh US stimulus package before the election and expectation of coronavirus vaccine by the end of the year boosted investors sentiment. At 12:24 IST, the barometer index, the S&P BSE Sensex, was up 352.99 points or 0.88% at 40,335.97. The Nifty 50 index added 81.40 points or 0.69% to 11,843.85.

In the broader market, the S&P BSE Mid-Cap index gained 0.13% while the S&P BSE Small-Cap index rose 0.39%.

The market breadth was strong. On the BSE, 1376 shares rose and 1029 shares fell. A total of 137 shares were unchanged.

Derivatives:

The NSE’s India VIX, a gauge of market’s expectation of volatility over the near term, rose 2.50% to 22.1875. The Nifty October 2020 futures were trading at 11,855, at a premium of 11.15 points compared with the spot at 11,843.85.

The Nifty option chain for 22 October 2020 expiry showed maximum call open interest (OI) of 33.06 lakh contracts at the 12,000 strike price. Maximum put OI of 24.81 lakh contracts was seen at 11,800 strike price.

The Nifty option chain for 29 October 2020 expiry showed maximum Call OI of 24.81 lakh contracts at the 12,000 strike price. Maximum Put OI of 33.91 lakh contracts was seen at 10,500 strike price.

Buzzing Segment:

The Nifty Metal index rose 0.98% to 2,352.65. The index has gained 5% in two sessions.

Mishra Dhatu Nigam (up 3.07%), SAIL (up 2.66%), Jindal Steel & Power (up 2.56%), MOIL (up 2.23%), Hindustan Zinc (up 1.98%), JSW Steel (up 1.45%), Coal India (up 1.44%), NMDC (up 1.38%) and National Aluminum Co. (up 0.82%) edged higher.

Stocks in Spotlight:

Inox Wind rose 0.62% to Rs 40.55 after the company announced new orders for the supply and installation of wind turbine generators of 40 megawatts from retail customers spread across various industries. The projects will be executed on a turnkey basis across locations in Gujarat and Karnataka. The contracts include supply and commissioning of 2 MW DFIG 113 meters rotor diameter wind turbine generators (WTGs) as well as providing comprehensive operations and maintenance services for the life time of the project. The orders are expected to be commissioned by March 2021.

DLF added 0.52% to Rs 163.15. The company’s rental arm DLF Cyber City Developers (DCCDL) has reportedly raised Rs 2,400 crore debt from SBI to refinance its existing debt and fund future expansion plans.

Jet Airways (India) hit an upper circuit of 5% at Rs 42.15. The airline’s committee of creditors has approved the resolution plan submitted by Murari Lal Jalan and Florian Fritsch. As per reports, the Kalrock Capital-Murari Lal Jalan consortium has proposed to re-launch Jet Airways as a full-service carrier, with an initial investment of Rs 1,000 crore. It has initiated discussions with lessors and international airlines for contracts and partnerships.

Adani Ports and Special Economic Zone fell 1.42% to Rs 346.90. The company has reportedly completed the acquisition of Krishnapatnam Port Company (KPCL) for Rs 12,000 crore. This will give APSEZ a controlling stake of 75% in KPCL, previously owned by the CVR Group and other investors, the reports added.



Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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