Author: Ajay Ajith

Today’s Market Summarised

Reliance continues to pull down the market as banks show strength.

NIFTY opened with a small gap-down at 16,257. The index shot up initially and then cooled back down. Towards 1 PM, resistance was taken and a fresh day-low was created towards closing time. NIFTY ended the day at 16,240, down by 62 points or 0.38%.

BANK NIFTY started the day at 34,244 and shot up 200 points in 5 minutes. The index took resistance at 34,800 and fell nearly 400 points towards the closing time. BANK NIFTY ended the day at 34,482, up by 207 points or 0.60%.

NIFTY METAL(-5.20%) and NIFTY REALTY(-2.94%) crashed once again. Pharma(-1.48%) and IT(-1%) sectors also fell.

Asian markets mostly closed in the red. European markets are up in the green currently.  

Today’s Moves 

Eicher Motors(+3.04%) closed as the top-gainer in NIFTY 50 after a 6 trading day fall. Hindustan Unilever(+3.01%) also bounced back.

Asian Paints(+2.70%) moved up after announcing flat Q4 net profits growth at Rs 874 crores.

Energy stocks crashed along with global stocks as international energy prices dived. US Oil prices fell 8% in 2 days. Coal India(-7.10%), ONGC(-6.25%), Reliance(-1.73%) and NTPC(-2.23%) were among the top-losers in NIFTY 50.

Other commodity prices also fell internationally and our stocks reacted. Tata Steel(-6.98%), JSW Steel(-4.87%) and Hindalco(-4.75%) fell from NIFTY 50.

National Aluminium(-6.68%), Jindal Steel(-6.58%) and Vedanta(-5.65%) were other metal stocks which crashed.

Kotak Bank(+1.68%) is testing and breaking a downtrend. We may see a good breakout in the coming weeks if Bank Nifty supports.

Markets Ahead

It is worth noting that Metals have fallen significantly. This makes the fall more than 15% from the high. International metal and realty stocks have been falling after the interest rate hike are expected to cause a fall in housing demand.

Rupee falling to the lowest did hurt the market sentiments that led to the heavy selling in the last hour. India’s Consumer Price Inflation data will be a crucial event in this scenario. The data is expected to be out on Thursday. Also, we have U.S. CPI to be released tomorrow evening.

Now that the interest rate hikes have started based on a certain targeted inflation rate, this data would affect the market.

The European markets are sustaining the initial gains of the day along with the positivity in the US futures. 

For NIFTY, 16,400 has again proven its strength as a resistance level. Our markets have closed at the intraday low and it will be interesting to see if the US closes in the green and might cause a gap-up tomorrow for us. In that case, traders who shorted the market towards the end seeing the weak close will suffer a setback, just like what we have been seeing for the last month.

Let us closely watch 16,000 on the downside if the fall continues. Reliance showing bearishness as international energy prices fall is expected. So do expect this bearishness for NIFTY, as well.

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

The afternoon session for the markets turns bearish after a gap-down opening.

NIFTY opened at 16,415 with a nearly 267 point gap-down. The index moved in a 140 point zone for the whole day sideways. By closing time, markets moved up to opening range. NIFTY ended the day at 16,411, down by 271 points or 1.63%.

BANK NIFTY started the day at 34,676 and fell a further 300 points. With a lot of volatility, the index moved in a zone of 450 points. BANK NIFTY ended the day at 34,591, down by 641 points or 1.82%.

All sectoral indices closed in the red. NIFTY REALTY(-3.56%), NIFTY IT(-2.27%) and NIFTY Finserv(-2.25%) fell the most.

Asian markets closed mostly in the red. European markets are trading in the red currently.  

Today’s Moves 

Hero Motocorp(+2.47%) touched a 40-day high and once again closed in the top-gainers list.

Bajaj Finance(-4.90%) and Bajaj Finserv(-3.53%) continued to see good selling once again.

Vedanta(-11.06%) closed in the red after accounting for a Rs 31.50/share dividend/.

Even with a sharp rise in net profits for the quarter, Chola Finance(-10.97%) fell. Voltas(-7.62%) fell after disappointing profit numbers.

Catholic Syrian Bank(+9.97%) had a breakout in the last 30 minutes of the day.

Realty stocks fell heavily in the day as housing loan rates are set to increase. Sobha(-6.20%), Phoenix Ltd(-5.03%) and Prestige(-4.08%) fell sharply.

FMCG index stayed stable in the day with ITC(+1.76%), Britannia(+0.94%) and PGHH(+2.03%) closing in green. Marico fell 3%.

Markets Ahead

U.S. markets fell to its worst day since 2020 as investors adjusted to their perception of interest rate hikes. This surprised global markets which thought that the worst was over.

I am sure including today’s selling, foreign institutional investors have sold of many thousands of crores of stocks for the week.

FII holdings in NIFTY 50 stocks are at a 9-year low.

Watch out for FMCG stocks which are staying stable. However, news specific movements could still rock these stocks. 

It is still the results season and we are seeing crazy movements. It looks like the move is totally random, as always and not depending on the quality of the result.

NIFTY crossing the 16,650 level on the downwards side indicates bearishness. Meanwhile, Infosys and Bajaj Finance are at important support zones.

Rumours of Axis Bank mutual fund scam are also running around. Bank of England has also flagged a risk of recession.

How did this week go for you? Let us know in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

The afternoon session for the markets turns bearish after a gap-up opening.

NIFTY opened at 16,862 with a nearly 200 point gap-up. After an initial fall, the index took off and reached a high near 16,950. A fall of 300 points was seen from the top. After a recovery, NIFTY ended the day at 16,682, up by 5 points or 0.03%.

BANK NIFTY started the day at 35,713 and tried to move up first. After crossing the 35,900 mark, there was weakness seen and the index fell 800 points till the day low. BANK NIFTY ended the day at 35,232, down by 30 points or 0.09%.

NIFTY IT(+2.1%) moved up in the day. Meanwhile, NIFTY REALTY(-1.62%) fell sharply.

Asian markets closed mostly in the red. European markets are trading in the green currently.  

Today’s Moves 

IT stocks featured in the top-gainers list of NIFTY 50. TechM(+4.17%), Infosys(+3.23%), HCL Tech(+2.59%) and Wipro(+1.91%) closed with good gains.

Hero MotoCorp and Tata Steel gained back after yesterday’s fall post Q4 results.

IndusInd Bank(-4.24%) fell sharply in the day and was balanced in Bank Nifty by the slight gains in ICICI Bank and Kotak Bank.

Adani Green and Adani Power gained after both companies posted good Q4 results.

ABB India(+10%) shot up after their Q4 results. 

Markets Ahead

The repo rate hike has affected the market sentiments badly that the fall continued for the second day. Though the positive global cues were taken into account in the first half, NIFTY fell heavily in the second half. 

This was even after the U.S. markets closed in the green yesterday. NASDAQ moving up 3% helped the NIFTY IT index gain some confidence. Do note here that our indices have closed flat as they had opened with a gap-up.

The day candles look rather bearish. However, the previous day-low was not broken. Once the level is broken, we will see more down-move.

VIX has dropped despite the intraday fall. But you can expect volatility in the coming days. As the markets will be closed for the weekend, there is a chance of squaring of positions by the big players.

It is certain that NIFTY will find it hard to cross 16,950 on the upside. A move below 16,600 will be a red signal!

How did the expiry day go for you? Let us know if you are in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

Markets fall sharply after RBI announces hike in interest rates.

NIFTY opened at 17,111 and started falling. It tried to take support at 16,920 and played around that zone. There was high volatility after the RBI announcement and market started falling. NIFTY ended the day at 16,677, down by 391 points or 2.29%.

BANK NIFTY opened at 36,288 and fell along with the entire market. A fall of 1,000 points was seen after 2PM as the markets crashed. BANK NIFTY ended the day at 35,264, down by 899 points or 2.49%.

All sectoral indices closed in the red. NIFTY MEDIA (-.2%), NIFTY REALTY (-3.2%) and NIFTY METAL (-3.2%) fell the most in the day.

Asian markets closed mostly in the red. European markets are trading in the red currently.  

Today’s Moves 

ONGC (+3.7%) gained sharply in the day as international crude oil prices gain strength. Other power stocks PowerGrid (+2.6%), Petronet (+2.6%) and Gujarat Gas (+1.2%) also gained.

Adani Ports (-5.1%) fell with profit booking even after a 30% YoY increase in profits. 

Hindalco (-4.7%) fell as aluminium prices fell across the world. National Aluminium also crashed.

Bajaj Finserv (-4.2%) and Bajaj Finance (-4.3%) closed in the top-losers list as institutional investors sold off the stock.

Titan (-4%) stock fell as the company’s Q4 profits fell 7% YoY. Tata group stock Voltas also fell to a long-term support.

Britannia (+3.5%) gained after the Q4 results. The stock flew up in the first 5 minutes then cooled down.

Markets Ahead

Markets have crashed after RBI increased interest rate after almost two years.

NIFTY has broken its consolidation zone and fallen to a 45-day low. The fall is also the largest since March 7th.

Institutions are aggressively selling Indian stocks as profit booking continues. In good news we continue to see participation for the LIC IPO. Subscription has reached 61% with mostly policyholders applying.

With the key interest rate hikes, banks and NBFCs also will increase their interest rates on loans. Long-term loans with floating interest rates may automatically adjust.

With tomorrow being the weekly expiry, we have many factors to watch out for. The U.S. Federal Reserve meeting will conclude tonight and we are expecting an interest rate hike there too. Also, the volatility index or INDIA VIX has reached its highest since late March. 

Tomorrow will be an interesting weekly expiry for sure! Do you trade on weekly expiries? Let us know if you are in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

Markets end the day nearly flat after morning bearishness.

NIFTY opened at 16,949 with a gap-down and slowly moved up. After a lot of afternoon consolidation, the index saw buying in the last hour of trade. NIFTY ended the day at 17,069, down by 33 points or 0.20%.

BANK NIFTY opened at 36,682 and gained 300 points in the first candle. After a lot of consolidation, the index gave a breakout towards closing time.BANK NIFTY ended the day at 36,163, up by 75 points or 0.21%.

NIFTY IT (-1.5%) closed well in the red again followed by NIFTY AUTO (-1.2%). All other sectors closed with consolidation.

Asian markets which were open today closed mixed. European markets are trading in the red currently.  

Today’s Moves 

IndusInd Bank (+4%) shot up and closed as the top gainer of NIFTY after publishing its Q4 results. The bank reported higher net profits.

Coal India (+2.6%) shot up on the day after the company reported a 27% increase in production for April.

Bajaj Auto (-2.8%) closed in the top losers of NIFTY after April sales fell. Eicher Motors also moved down.

Tata Chem (+9.8%) and CanFin Home (+8.4%) closed sharply in green after publishing their results last day.

Dixon (-9.1%) moved down sharply after its partner Xiaomi’s assets were seized by the Enforcement Directorate. Meanwhile, competitor Amber Enterprises gained.

Solara Active Pharma (-20%) crashed after MD & CEO resigned. Net sales also fell.

Kitex shares moved up towards 52-week highs ahead of their Q4 results today.

Markets Ahead

IT stocks have failed to recover even after many tries. The NIFTY IT index has fallen to a 9-month low. 

This is not a one-off event. Global tech stocks are also having a bearish phase with the tech-heavy NASDAQ falling 4% last day alone. The U.S. index is at more than a 1-year low.

NIFTY is still stuck in the 16,950 to 17,450 zone. 

Last day’s fall now looks like institutional selling. With the fact that NIFTY was unable to make up Friday’s fall and IT stocks not showing strength, there is a temporary indication of bearishness in the market.

Tomorrow is a market holiday on account of Eid, and hence we have a 4-day trading week. Eid wishes to everyone celebrating!

Are you invested in IT stocks or mutual funds? Let us know if you are in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

Markets crash sharply in the afternoon after news of Covid-19 from China.

NIFTY opened at 17,331 with a gap-up and fell back down. However, the index moved back up after taking support and touched the resistance level of 17,380. Institutional selling and panic from China saw the index falling 320 points in just 2 hours. NIFTY ended the day at 17,102, down by 142 points or 0.83%.

BANK NIFTY opened at 36,524 and slowly moved up. By noon, the index hit an intraday high and then started showing weakness. A 750 points fall was seen from the day-high. BANK NIFTY ended the day at 36,088, down by 334 points or 0.92%.

All sectoral indices closed in the red today. NIFTY MEDIA (-2.8%), NIFTY PSU Bank (-1.6%) and NIFTY REALTY(-1.1%) closed the worst.

Asian markets closed well in the green today. European markets are also trading in the green currently. 

Today’s Moves 

HDFC Life (+1.9%) closed in the top-gainers list of NIFTY 50 today. HDFC Bank (+0.97%) and HDFC (+0.26%) also closed slightly in green even when the general market was bearish.

In a good move for insurers, IRDAI hiked insurers’ exposure to financial and insurance activities up to 30%. This could be the reason behind the good move in insurance stocks.

Tata Consumer (+1.5%) tried to move up in the day from FMCG stocks.

Axis Bank(-6.5%) crashed to a 1-month low after reporting its Q4 results. Meanwhile, Shriram Transport Finance (+5.2%) gained on the back of good results.

Coal India (-3.9%), Adani Ports (-3.4%) and PowerGrid (-3.3%) saw profit booking and moved down.

TV18Broadcast (-13.1%) and Network18 (-5.6%) continued their crash from yesterday.

India PM Modi in a semiconductor conference says “Aims to establish India as one of the three partners in global semiconductor supply chain”.

Tata Motors (+0.36%) was trading in the green for the most part of the day after revealing Avinya, an electric car based on Pure EV architecture. It fell along with the rest of the market after noon.

City-gas stocks IGL, MGL and Gujarat Gas fell during the day.

Markets Ahead

The last hour’s panic in the market has been attributed to Covid new variant scare in China. Our country is also expected to get the 4th wave of Covid soon.

With NIFTY closing the last 3 out of 4 months in red, it is interesting to note that the midcap index has gained for 2 months in a row now.

NIFTY IT has fallen more than 10% in the month of April. 

Adani stocks are trading near their all-time highs, so keep an eye for more moves from them, especially in NIFTY’s Adani Ports.

The IRDAI rule is also interesting. Companies can have higher exposure to capital markets which may increase their profits.

Was today panic selling, or actual institutional selling? Let us know what you think in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

Uptrending day in NIFTY ends with high volatility.

NIFTY opened at 17,153 with a gap-up of more than 100 points. It took support near yesterday’s high and started moving up. A rally of 250+ points was seen till the day-high after which a sharp fall came. NIFTY ended the day at 17,245, up by 206 points or 1.21%.

BANK NIFTY opened at 36,240 with a gap-up and fell back to below the 36k mark. A rally of 500 points took the index to 36,500 where it found resistance and fell. Volatility towards the end saw prices flying up and down. BANK NIFTY ended the day at 36,422, up by 393 points or 1.06%.

All sectoral indices except NIFTY MEDIA(-3.1%) closed in green. NIFTY FMCG (+2.1%), NIFTY Bank (+1%) and NIFTY IT (+1%) outperformed.

Asian markets closed well in the green today. European markets are also trading in the green currently. 

Today’s Moves 

Hindustan Unilever (+4.5%) closed as NIFTY’s top gainer after the FMCG major reported a 5% YoY increase in net profits.

Life insurance stocks gained with HDFC Life (+4.3%) and SBI Life (+4%) leading gains in NIFTY 50. ICICI Prudential Life (+3%) also gained ahead of the LIC IPO next week.

Bajaj-Auto (-1.8%) fell after profit booking post announcing Q4 results. 

Network18 (-20%) and TV18Broadcast (-17.7%) ended sharply down even after a gap-up opening. Profit booking kicked in after Reliance and Viacom18 announced a strategic partnership with Bodhi Tree Systems.

BHEL (+2.2%) moved up after signing an agreement with GE Power conversion for the development of integrated electric propulsion systems for the Indian Navy.

Markets Ahead

Today closed with NIFTY in the green, and at the highest point for the week. The index was once again boosted by Reliance which hit a fresh 52-week high.

However, even with all the support of Reliance, NIFTY has ended the monthly series in the red. With this, NIFTY has ended 5 out of 6 monthly series in the red. The monthly series is the range between one monthly index options expiry and the next.

And the midcap index has gained for the last 2 months.

Currently, we are watching for some recovery in IT stocks and some more movement in FMCG stocks. That is what we need for the market to actually turn bullish.

The current zone between 16,950 and 17,500 is holding NIFTY sideways. A strong break outside of this zone may end up turning the month of May very interesting!

Let us know what you think in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

Indian markets fall as a reaction to a global correction.

NIFTY opened at 17,077 with a gap-down and could not recover. It broke the 17k mark and moved down before recovering at 1 PM. Overall it was a bearish day with the market unable to move back to green. NIFTY ended the day at 17,038, down by 162 points or 0.94%.

BANK NIFTY opened at 36,077 with a gap-down. The index could not show real recovery and crashed down more than 400 points from the day-high. Even with the afternoon recovery, BANK NIFTY ended the day at 36,028, down by 376 points or 1.03%.

Most sectoral indices closed in the red. NIFTY Finserv (-1.4%) and NIFTY BANK (-1%)closed well in the red, while NIFTY MEDIA (+0.07%) stayed flat.

Asian markets closed mostly in the red today. European markets are trading in the green currently. 

Today’s Moves 

Hero MotoCorp(+3.85%) moved up sharply after announcing its first electric scooter yesterday.

Bajaj Finance (-7.24%) crashed despite better Q4 results. The stock featured as the top loser in NIFTY 50 along with Bajaj Finserv(-3.94%).

Tyre stocks Apollo Tyres(+2.96%), and Balkrishna Industries(+2.90%) continued their up-move despite markets slowing down.

UTI AMC (-7.51%) crashed after net profits for Q4 fell by more than 60% on higher expenses.

Mahindra Logistics (+8.7%) moved up 7.34% after the Q4 result. Net profit was up 107% compared to last quarter.

Markets Ahead

Global markets turned spoilsport and pushed down our indices today. Yesterday’s bullishness was lost as the U.S. markets closed in deep red, and affected us too.

Today, Reliance hit a fresh 52-wek high at Rs 2,828 and fell nearly 2% from there. It is interesting to note that HDFC Bank is consolidating near it 52-week low. We need to watch for a reversal in the stock soon. 

Nifty’s 17,050, 17,000,16,950 and 16,900 levels need to watched in the coming days.

Nifty IT is not showing no signs of recovery and the index is trading nearly 25% down from its all-time high. The index once again has taken support at a trendline.

European markets shooting back up after the opening fall. So there continues to be hope for such a move in our markets tomorrow!

Let us know what you think in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

Volatile day, with a sharp gain towards the closing.

NIFTY opened at 17,121 with a good gap-up of 167 pts or 1%. The 17,180 resistance was tested multiple times today and the index fell sharply towards the amazing support at 17,064. The 3 PM rally helped the market to make a safe close today. NIFTY ended the day at 17,200, up by 246 points or 1.46%.

BANK NIFTY opened at 36,530, with a gap-up of 433 pts or 1.2%. The index traded in a 325 pts range, but the movements were volatile. Check the sudden red candles it made today. The index did not participate much in the last hour rally. BANK NIFTY ended the day at 36,404, up by 322 points or 0.89%.

All the indices closed in the green. NIFTY AUTO (+2.8%), NIFTY FMCG (+1.8%), NIFTY MEDIA (+1.9%), NIFTY PSU BANK (+2.3%), and NIFTY REALTY (+3.5%) had a great day.

Asian markets closed in the red today. European markets are also trading in the red currently. 

Today’s Moves 

Adani Ports (+5.8%) share gained sharply in the day to an all-time high. The Adani Group is in advanced talks for Holcim’s holding in Ambuja Cements (+2.3%).

Adani Ent (+4.8%), Adani Wilmar (+5%-UC), Adani Green (+4.5%), Adani Power (+5%-UC) and even Adani Transmission (+7.5%-UC) shot up in the day.

Bajaj-Auto (+5.6%), Hero Motocorp (+5.1%) and M&M (+4%) were among the top-gainers of NIFTY 50 as the auto index gained back to a 2-month high.

Auto-ancillary company Mahindra CIE (+12.3%) moved up on stable operational performance in the March quarter. India’s Road Minister said plans are being made to make India into an auto manufacturing hub for the world.

Tyre stocks Apollo Tyres (+6.3%), Balkrishna Industries (+5.2%) and MRF (+3.2%) also gained along with the auto sector.

Reliance (+3%) also recovered silently, while contributing more than 70 points to NIFTY.

Chola Finance (+6.8%), Indiabulls Housing (+6%), Shriram Transport Finance (+5.5%) and LIC Housing (+4.9%) outperformed the mid-cap finance sector.

Zee Learn (-19.3%) crashed after Yes Bank initiated an insolvency resolution against the company for Rs 468 crores of bad loans.

CAMS has been appointed as the Registrar and Transfer Agent for Zerodha’s proposed Mutual Fund business. Keep an eye out on the stock for the future.

Bajaj Finance is up by 3.3% ahead of the Q4 result that would announce today.

Markets Ahead

Reliance shot up in the day with the results of the oil-to-telecom giant to be announced soon. It has also quickly recovered from the fall after Future Group’s deal failed.

Right from the morning, options data indicated that a bullish move was about to come. Even with the market falling intraday, the put buildup in the market continued to be strong with very few calls being written. This indicated bullishness.

And just as this data indicated, the index shot up towards closing to fresh day-highs. The support at 16,815 from last Tuesday looks interesting in the short term.

European markets are also recovering after the fall yesterday. If the U.S. markets continue to be bullish, then we may see a gap-up opening tomorrow.

For the current bearish sentiments to go away, support in international markets will have to be seen. 

Will Reliance stock rally to dethrone Adani as Asia’s richest man? Let us know what you think in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.