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Sensex, Nifty Climb As Health Care Stocks Rally On RBI Easing

Sensex, Nifty Climb As Health Care Stocks Rally On RBI Easing
The Bombay Stock Exchange (BSE), right, stands behind the Bombay High Court building in Mumbai, India (Photographer: Adeel Halim/Bloomberg)  
5 years ago
India stocks rose after the central bank unveiled measures to further support the economy as coronavirus cases continue to surge.

We feel the timely intervention by the apex bank has relieved the participants to some extent amid the prevailing uncertainty. However, it failed to trigger a decisive move in the benchmark indices and we might see further consolidation. On the flip side, there’s no shortage of trading opportunities on the stock-specific front so participants should align their positions accordingly while keeping a check on leveraged trades.
Ajit Mishra, VP - Research, Religare Broking

  • Net income Rs 153 crore vs. Rs 51.88 crore y/y, estimate Rs 110 crore
  • Revenue Rs 2,290 crore, +46% y/y, estimate Rs 2,194 crore
  • Total costs Rs 2,160 crore, +45% y/y
  • Dividend per share Rs 18
  • Clears additional Rs 1,210 crore investment by way of Capex

Second Covid-19 Wave May Derail India’s Budding Recovery: S&P Ratings

  • SBI Life options volume 2.8x the 20-day average, with 21,297 calls changing hands vs 6,106 puts
    • Stock down 0.8%, volume 1.7x the 20-day average for this time of day
  • ONGC options volume 2.1x the average, with 9,974 calls vs 2,417 puts
    • Stock up 1.6%, volume 1.5x the average
  • Sun Pharma options volume 1.5x the average, with 33,343 calls vs 8,689 puts
    • Stock up 4.5%, volume 1.5x the average
  • Nifty 50 options volume 0.5x the average, with 5.07 million calls vs 3.99 million puts; gauge up 0.7%
    • Cost of hedging as measured by the 90/110, one-month skew ranks in the 99th percentile over the past year
  • Nifty Bank index options volume 0.6x the average, with 8.97 million calls vs 7.58 million puts; gauge up 1.5%
    • 90/110, one-month skew in the 48th percentile
  • India VIX Index down 3%

Chris Wood Has A Message For Foreign Investors Looking To Buy Indian Stocks

Source: IHS Markit release.

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