Author: Cherian Varghese

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Volatility Ahead of Interest Rate Decision! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day flat at 19,578. Initially, the index broke yesterday’s low of 19,520 levels and fell sharply to 19,470. It then consolidated near those levels till 1 PM. In the second half, the index started moving back up and gave an insane rally of nearly 180 points (aided by Reliance and ITC). Nifty closed at 19,632, up by 61 points or 0.32% 

Nifty chart Aug 9 - post-market analysis

BANK NIFTY (BNF) started the day flat at 44,973. Similar to Nifty, BNF also continued the down-trend, fell by nearly 400 points to 44,530 levels, and consolidated. In the second half, good buying kicked in, and the index shot back up 400 points. However, it couldn’t cross the day’s high. BNF closed at 44,880, down by 83 points or 0.19%. 

Bank Nifty chart Aug 9 - post-market analysis

Nifty Realty (-1.24%) and Nifty PSU Bank (-0.1%) also closed in the red. Nifty Media and Nifty Metal jumped >2%!

Major Asian markets closed mixed. European markets are currently trading up to 1% in the green.

Today’s Moves

Dr Reddy’s Labs (+3.7%) was NIFTY50’s top gainer. The stock hit a record high of ₹5,883.75 today. As per reports, market participants are looking for opportunities created by potential shortages caused by damages at Pfizer’s injectable plant in the US.

RattanIndia Enterprises (+19.93%) surged on the back of strong volumes. The stock has jumped nearly 36% over the past month.

V-Guard Industries (+10.3%) rallied after the company posted robust financial results for Q1 FY24. Its revenue from operations rose 19.3% YoY to ₹1,214.76 crore in Q1, while net profit stood at ₹64.22 crore, up 20% YoY.

Divi’s Labs (-2.8%) was NIFTY50’s top loser.

Hikal (-4.05%) fell after the pharma company said it has moved back to profitability in Q1.

EPL (-4.2%) fell up to 5% after reports said analysts are worried about the pace of the packaging company’s revenue growth.

Markets Ahead

Ahead of RBI’s interest rate decision and weekly expiry for NIFTY and BANK NIFTY tomorrow, the indices made huge intraday moves today. Strong buying was seen at lower levels. So we can expect more volatility and news-based movement tomorrow as well.

Nifty: The immediate support levels to watch out for in Nifty will be 19,600 and 19,560. The important resistance zones will be 19,680 and a gap-filling zone of 19,720. A breakdown from 19,600 levels will push the market down further. And for the up-move to sustain, the index has to come down to 19,600 levels, take support, and move up to the targets of 19,680 and 19,720.

Bank Nifty: Now, the important resistance in Bank Nifty is the round level of 45,000-100, and the important support will be 44,500-600 levels. The index can be volatile between these levels. If the index gives a breakout from 45,100, we can expect a target of 45,400 and 45,600 eventually. A breakdown from 44,500 can give us targets of 44,300 and 43,900.

Reduce your positions or follow a proper system tomorrow, as the markets are volatile!

We have U.S. inflation data coming out tomorrow. On the other hand, China slipped into deflation for the first time in more than two years in July as the country struggled to revive demand.

What levels are you watching out for expiry tomorrow? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

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Daily Market Feed Post Market Analysis

Calm Fin Nifty Expiry! – Post-Market Analysis

beach birds calm clouds
Photo by Pixabay on Pexels.com

NIFTY started the day at 19,627 with a gap-up of 29 points (near the resistance zone of 19,600). Immediately after opening, there was a sell-off of nearly 100 points to 19,530 levels. Then, the index tried moving up but there wasn’t enough strength, and it consolidated. Nifty closed at 19,570, down by 26 points or 0.13%. 

Nifty chart - Aug 8 post-market analysis

BANK NIFTY (BNF) started the day at 44,888 with a small gap-up of 51 points. With the help of ICICI Bank, the index moved up initially to 45,100 levels, took resistance, and mostly consolidated in a small range of 120 points between 45,050 and 44,900. BNF closed at 44,964, up by 126 points or 0.28%. 

Bank Nifty chart - Aug 8 post-market analysis

All other indices except Nifty Metal (-1.1%), Nifty Auto (-0.31%), Nifty FMCG (-0.28%), and Nifty Realty (-0.18%) closed in green. Nifty PSU Bank (+3.3%) moved up the most. 

Major Asian markets closed mixed. European markets are currently trading up to 1% in the red.

Today’s Moves

Hero MotoCorp (+3.8%) was NIFTY50’s top gainer. The company reported that it has received over 25,000 bookings for the Harley-Davidson X440.

SBI Life (+3.59%), Cipla (+3.5%), and Dr Reddy’s Labs (+0.48%) hit their respective 52-week highs today.

Gland Pharma (+20%-UC) rallied after posting a 41% YoY rise in Q1 revenue yesterday, aided by its acquisition of French pharma group Cenexi.

Adani Ent (-2.98%) was NIFTY50’s top loser amid broader weakness in the market.

Policybazaar (-4.7%) fell after the company’s loss narrowed from ₹204 crore in Q1 FY23 to ₹11.9 crore in Q1 FY24.

Markets Ahead

Nifty is looking weak, while Bank Nifty is looking strong. But overall, the markets are still under selling pressure for the short term. So major resistances have to be breached for markets to turn bullish again.

Nifty: The index is now taking the 50% rejection from the Fib levels. So 19,650 is the major resistance for Nifty. There is also a trendline resistance that Nifty is respecting. So till this level, the markets may stay bearish. Now, the major support for Nifty is clearly the round levels of 19,500 levels.

A breakout from 19,650 levels can give us a target of 19,740 and a breakdown from 19,500 can give us a target of 19,380.

Bank Nifty: The index is looking strong compared to Nifty, and is in a range between 45,100 and 44,780. A breakdown from these levels can give us targets of 44,500 and 44,300. A breakout can give us targets of 45,470 and 45,740 eventually.

Finnifty: The index moved sideways today, and was volatile in a range of 120 points. Being an expiry, it was easy for non-directional players to trade as Fin Nifty is also moving in a range. A breakout or a breakdown is possible, so watch out for 20,100 as resistance and 20,000 as support levels.

The Reserve Bank of India (RBI) will hold its policy meeting on Thursday, where the expectation is for interest rates to remain unchanged. Meanwhile, the US dollar strengthened ahead of the release of US, Chinese economic data.

How was FIN NIFTY expiry? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

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Bearish Weekly Closing in Nifty – Post-Market Analysis

Post-Market Analysis for August 4, 2023:

NIFTY started the day at 19,462 with a gap-up of 81 points. Throughout the day, the index was trading between or stuck between yesterday’s high and today’s opening levels of 19,500 and 19,440, respectively. Nifty closed at 19,517, up by 135 points or 0.7%. 

Nifty chart - Aug 3 post-market analysis

BANK NIFTY (BNF) started the day at 44,754 with a gap-up of 241 points. Initially, the index fell to yesterday’s closing price and support zone of 44,500 levels. Then, it gave a strong up-move till 45,100, fell 500 points back to 44,600 zones, and then took resistance back at 44,900-45,000 levels. BNF closed at 44,879, up by 366 points or 0.82%. 

Bank Nifty - Aug 4 post-market analysis

All indices except Nifty PSU Bank (-0.7%) and Nifty Auto (-0.33%) closed flat-to-green. Nifty IT (+1.5%) moved up the most.

Major Asian markets closed mixed. Germany’s DAX and UK’s FTSE100 are trading in the red, while France’s CAC40 is trading in the green.

Today’s Moves

Cipla (+3.7%) was NIFTY50’s top gainer. World’s largest private equity fund, Blackstone, is set to submit a non-binding bid to acquire the entire 33.47% promoter stake in Cipla.

Zomato (+10.07%) surged after posting its first-ever profit of ₹2 crore in Q1.

IT stocks Coforge (+2.58%), Wipro (+2.3%), TechM (+2.84%), LTIM (+1.46%), TCS (+1.28%) and others moved up with strength.

SBIN (-2.9%) was NIFTY50’s top loser. The bank’s net profit jumped 178% YoY to ₹16,884 crore; beating street estimates.

JM Financial (-7.12%) fell heavily after its Q1 number disappointed investors.

Mahanagar Gas (-5.75%) shares fell even as profit nearly doubled in Q1.

Markets Ahead

Markets are at important long-term support zones: 19,300 for Nifty and 44,200-500 zones in Bank Nifty. If there’s global positivity and a breakout on the upside, we can expect the markets to move further up!

Nifty: The important support zone for Nifty is clearly 19,300 (but the immediate support can be 19,400). The next resistance level to watch out for is 19,500 zones. A breakout from 19,520 levels can give us targets of 19,600 and 19,730 levels in the coming week. A breakdown can give us targets of 19,300 and then eventually 18,900 in the coming weeks.

Bank Nifty: The major support in Bank Nifty is a larger zone between 44,200-500. The important resistance will be 45,000. A breakdown from the support zone can give us a target of 43,000. A breakout on the upper side can give us targets of 45,300 and 45,750 in the coming week.

Markets had a bearish week. But if there’s a follow-up, it can turn into major bearishness for a few months. If support is taken at the levels mentioned above, the markets can bounce back!

Meanwhile, reports say the U.S. jobs report on Friday will help the Federal Reserve understand how its changes in monetary policy are affecting things. It could also tell the Fed if the U.S. economy is slowing down enough to skip another increase in interest rates.

How did this week go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

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Panic Selling in the Markets. Pharma Stocks Surge! – Post-Market Analysis

NIFTY started the day at 19,463 with a gap-down of 62 points. Initially, the index tried moving up, but the earlier support of 19,500 now turned into resistance. After forming a double top near the 19,500 zone, the index crashed without a retracement till 19,300 and then gave a sharp recovery of 100 points like yesterday to 19,400 levels. Nifty closed at 19,381, down by 144 points or 0.74%. 

BANK NIFTY (BNF) started the day at 44,862 with a gap-down of 132 points. Initially, the index tried moving above 45,000, but that level acted as a strong resistance. Similar to Nifty, Bank Nifty also fell nearly 750 points to the low of 44,300 levels (which is also a support zone). Then, there was a small retracement to 44,600. BNF closed at 44,513, down by 482 points or 1.07%. 

All indices except Nifty Pharma (+1.04%) and Nifty Media (+0.91%) closed in red. Nifty Realty (-1.78%) fell the most. 

Major Asian markets closed mixed (Japan’s Nikkei fell 1.6%). European markets are currently trading in the red.

Today’s Moves

Adani Ent (+2.39%) was NIFTY50’s top gainer. The company posted a 44% YoY increase in net profit to ₹674 crore, while revenue fell 38% YoY to ₹25,438 crore.

IRFC (+12.6%) hit a 52-week high of ₹45.3 today. IRFC and RITES signed an agreement to explore avenues of mutual collaboration in the railway ecosystem and transport infrastructure sector. Read more reasons for the stock’s recent rally here.

Pharma stocks Mankind Pharma (+9.1%), Laurus Labs (+5.4%), Lupin (+4.1%), Gland Pharma (+3.1%), and others showed strong grains in a weak market.

UPL (-3.02%) was NIFTY50’s top loser. The stock hit over a 2-year low on weak June quarter results.

Vedanta (-6.65%) fell up to 9% after a block deal took place on the exchanges wherein ~16.5 crore shares of the company worth ₹4,270 crore changed hands.

Godrej Properties (-5.2%) fell after the company said its pre-sales declined by 11% YoY to ₹2,250 crore as delayed launches adversely affected bookings. 

Markets Ahead

As said in yesterday’s post-market report, the target of 19,300 in Nifty was achieved today. But 44,150 in Bank Nifty is yet to be achieved.

Markets are clearly under selling pressure without any retracement. So tomorrow, we can expect a range-bound movement if the market opens with a big gap up or gap down. If the market opens flat and breaches today’s low, more bearishness can kick in.

Nifty: The important support for Nifty is now clearly 19,300. If that level is breached, the index can fall to 19,200 levels. The important resistance to watch out for is the 19,400-420 region, and 19,500 can be achieved if this resistance is crossed.

Bank Nifty: The important support for Bank Nifty is at 44,500 and the important resistance will be 44,750. A breakdown from 44,500 can give us a target of 44,150 and a breakout from 44,750 can give us targets of 45,000-200.

The markets are still under selling pressure. So even if there’s an up-move, it can be just a pullback, and the markets can continue to fall in the coming days.

If one played safely on today’s expiry day, it could’ve been an easy day for non-directional option sellers as well. Option buyers might have found it difficult to capture the trade as there was no retracement given for an entry.

Meanwhile, India’s services activity recorded the fastest growth rate in 13 years on strong demand. S&P Global’s India Services Purchasing Managers’ Index rose from 58.5 in June to 62.3 in July.

How did your expiry go? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

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IndiGo Posts Rs 3,091Cr Profit in Q1 – Top Indian Market Updates

indigo

Here are some of the major updates that could move the markets tomorrow:

IndiGo Q1 Results: Net profit at ₹3,091 crore

InterGlobe Aviation (IndiGo) reported a consolidated net profit of ₹3,091 crore for the quarter ended June (Q1 FY24); beating street estimates. This is the highest-ever quarterly net profit reported by the budget carrier. The airline posted a loss of ₹1,064 crore in Q1 FY23. Its revenue from operations rose 30% YoY to ₹16,683 crore during the same period. IndiGo’s passenger ticket revenues were at Rs 14,996 crore, up 31% YoY.

Read more here.

Carlyle to acquire 5.91% stake in SpiceJet at Rs 48 per share

SpiceJet Ltd has sought shareholder approval to issue a 5.91% stake in the low-cost airline to Carlyle Aviation Partners (CAP). CAP is the aircraft financing unit of global private equity giant Carlyle Group. The company will also issue equity shares of 20% to promoter Ajay Singh (the airline’s CEO) at ₹10 per share.

Read more here.

Titan Q1 Results: Net profit falls 2% YoY to ₹777 crore

Titan reported a 2% YoY decline in net profit of ₹777 crore for the quarter ended June (Q1 FY24). Its revenue from operations rose 19% YoY to ₹10,306 crore during the same period. The company’s jewellery segment posted revenue of ₹9,070 corre in Q1, up 19% YoY. Titan’s watches and wearables business recorded a total income of ₹890 crore, up 13% YoY.

Read more here.

Tata Power RE signs PPAs with MSEDCL for solar projects

Tata Power Renewable Energy Limited (TPREL) has signed two power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) for commissioning two solar power projects. Located in Maharashtra, these projects of 200 MW and 150 MW will play a crucial role in fulfilling the state’s renewable energy target.

Read more here.

Gujarat Gas Q1 Results: Net profit falls 43% YoY to ₹216 crore

Gujarat Gas reported a 43% YoY fall in consolidated net profit to ₹216 crore for the quarter ended June (Q1 FY24). Its revenue from operations fell 26% YoY to ₹3,923.7 crore during the same period. EBITDA fell 36% YoY to ₹388 crore in Q1. Its total gas sales volume for the quarter stood at 9.22 million metric standard cubic meters per day (mmscmd), compared to 8.86 mmscmd in Q1 FY23.

Read more here.

Ambuja-ACC is frontrunner to acquire Sanghi Cements

Adani Group’s Ambuja-ACC has emerged as the frontrunner to acquire Sanghi Cements after deal negotiations moved forward over the past week. The group has come close to the expected enterprise value of ₹6000 crore that Sanghi Cement’s promoters have demanded as consideration for the sale of the company.

Read more here.

Sula Vineyards receives excise duty notice of ₹116 crore from Maharashtra govt

Sula Vineyards Ltd (SVL) has received an excise duty notice of ₹116 crore from the Maharashtra excise department. This comes after the minister (State Excise Revenue) vacated the interim stay granted on the demand notice issued by the Nashik collector for recovery of excise duty from SVL. Sula Vineyards has been recognised as the market leader across wine variants, including red, white, and sparkling wines.

Read more here.

Ambuja Cements Q1 Results: Net profit rises 31% YoY to ₹1,135 crore

Ambuja Cements reported a 31% YoY rise in consolidated net profit to ₹1,135 crore for the quarter ended June (Q1 FY24). Its revenue from operations rose 9% YoY to ₹8,713 crore during the same period. The company’s EBITDA stood at ₹948.8 crore in Q1, up 38% YoY. Its total sales volume rose 23% YoY to ₹9.1 million tonnes (MT).

Read more here.

Brookfield India REIT raises ₹2,305 crore via sale of units

Brookfield India Real Estate Trust has raised ₹2,305 crore by selling units to institutional investors on a private placement basis. The firm will mainly use this fund for the acquisition of two assets in Gurugram and Mumbai. The company has approved the allotment of 9.13 crore units to 64 successful eligible institutional investors at the issue price of ₹252.50 per unit.

To learn more about REITs, click here.

Read more here.

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Bearishness Continues. What to Expect on Weekly Expiry? – Post-Market Analysis

NIFTY started the day at 19,655 with a gap-down of 78 points (below the important support zone of 19,700). It was a straight fall of 250 points from the day’s high to the low of 19,424 levels! In between, the index tried to consolidate near 19,500 zones, but couldn’t sustain it. Post 2:30 PM, the index recovered over 100 points from 19,420 levels. Nifty closed at 19,526, down by 207 points or 1.05%. 

Nifty chart weekly expiry - Aug 2

BANK NIFTY (BNF) started the day at 45,234 with a gap-down of 357 points (near the support zones of 45,300). The index fell below important supports to 44,700 levels. After falling more than 650 points, BNF retraced a bit and closed at 44,995, down by 596 points or 1.31%. 

Bank Nifty chart weekly expiry - Aug 2

All indices closed in red today. Nifty PSU Bank (-2.6%) and Nifty Metal (-2%) fell the most. 

Major Asian markets closed up to 2.4% in the red. European markets are currently trading in the red.

Today’s Moves

Divi’s Labs (+1.4%) was NIFTY50’s top gainer on the back of strong volumes.

Indiabulls Housing Finance rose 5.37% today. Last week, the company’s board approved raising up to ₹35,000 crore via the issue of debt securities. It has also approved a final dividend of ₹1.25 per share for FY23.

Hero MotoCorp (-3.5%) was NIFTY50’s top loser. The two-wheeler manufacturer’s total sales declined by 12% YoY to 3.91 lakh units in July.

PSU banking stocks Canara Bank (-3.9%), Bank of Baroda (-3.1%), PSB (-3.1%), SBIN (-2.19%), IOB (-2.9%), and others moved down with strength today.

Redington India (-10.37%) fell sharply amid weak Q1 FY24 results.

Markets Ahead

Markets are clearly bearish now. Being a weekly expiry tomorrow, markets can be volatile and might continue the downtrend. 

Nifty: Now, the important support level to watch out for is today’s low of 19,400. The important resistance to watch out for is the 19,570 zone. A breakout on the upside will create some volatility, and the index might move sideways. But if there’s a breakdown and the market falls below 19,400, we can expect a target of 19,300.

Bank Nifty: The index is between the support zone of 44,500 and 45,300 resistance. In this zone, BNF can act sideways and become volatile. If there’s a breakdown from 44,500 round levels, we can expect a target of 44,150. A breakout on the upside can give us a target of 45,750.

Both indices might be volatile within a range for tomorrow’s expiry. So watch out for the levels mentioned above, and plan your trades accordingly!

Meanwhile, global stock markets have fallen after Fitch Ratings downgraded the US sovereign credit from AAA to AA+, citing “a steady deterioration in standards of governance” and the US government’s growing debt burden.

FIIs net sold for ₹1,877.84 crore in the Indian markets, while DIIs net sold for ₹2.23 crore.

What levels are you watching out for weekly expiry tomorrow? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

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Nifty Closes Below 19,750. IT Stocks Gain – Post-Market Analysis

NIFTY started the day at 19,784 with a small gap-up of 30 points. Initially, the index moved up to the round levels of 19,800, took rejection, and fell to breach the important support zone of 19,750. Then, it went down to 19,700 levels and strong buying kicked in. The index mostly consolidated within the 19,700 and 19,800 zones today. Nifty closed at 19,733, down by 20 points or 0.1%. 

BANK NIFTY (BNF) started the day at 45,740 with a gap-up of 88 points. After initial consolidation, the index faced selling pressure. BNF fell below the 45,600 support zone and came down to 45,470 zones (which was the previous day’s swing). It then bounced back, but 45,600 acted as resistance. BNF closed at 45,592, down by 58 points or 0.13%. 

All indices except Nifty IT (+1.2%), Nifty Metal (+0.18%), and Nifty Pharma (+0.06%) closed in the red. Nifty Realty (-1.7%) fell the most. 

Major Asian markets closed mixed. European markets are currently trading in the red.

Today’s Moves

Coal India (+4.8%) was NIFTY50’s top gainer. The company posted a 13.4% YoY growth in coal production at 53.6 million tonnes (MT) in July.

NCLAT has listed IDBI’s (+8.6%) appeal against ZEEL for a hearing tomorrow.

TechM (+2.5%), LTTS (+3.18%), HCL Tech (+1.95%), TCS (+0.9%), and other IT stocks showed strong gains.

PowerGrid (-5.3%) was NIFTY50’s top loser. The company posted disappointing Q1 results and announced a 1:3 bonus issue.

Kei Industries (-6.5%) crashed to 8% after reporting a 17% YoY rise in net profit to ₹121.4 crore in Q1.

DLF (-3.3%) fell after promoters sold stake worth ₹1,086 crore in the real estate company.

Hero MotoCorp (-3.1%) fell sharply after the Enforcement Directorate conducted raids at the residence of the company’s chairman Pawan Munjal.

Markets Ahead

After the buying seen yesterday, our markets seem stuck in a range. A breakout or breakdown from these levels can give us good moves.

Nifty: The index is currently facing rejection from 19,750 levels, which could act as the first resistance. If that level is crossed, we can expect the index to move to 19,840 levels. If the index falls below 19,750, a round level target of 19,700 could act as strong support. And if 19,700 is breached, we can expect Nifty to fall to 19,600 as well.

Bank Nifty: BNF is looking weaker than Nifty. 45,600 is acting as a strong resistance. If the index stays below this level, we can expect targets of 45,470 (today’s low) and 45,300. If there’s a breakout on the upside, we can expect a target of 45,800 and the round levels of 46,000 eventually.

Nifty Finserv moved in a range today. So it was an easy expiry for non-directional option sellers.

Meanwhile, the S&P Global Purchasing Managers’ Index (PMI) fell marginally to 57.7 in July from 57.8 in June. The rates of output and new order expansion remained slightly lower than in June. However, companies continued to grow their workforce and purchasing activities in response to these developments.

How was FIN NIFTY expiry? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

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Maruti Suzuki Posts 2.5x Jump in Net Profit in Q1 – Top Indian Market Updates

"Bangalore, India - January 29, 2013: Signage at a car showroom belonging to Maruti Suzuki India Ltd. in Bangalore, India. The company is a subsidiary of Japan's Suzuki Motor Corporation, and has been the leader in the Indian car market for two and half decades with a capacity of 1.7 million cars annually."

Here are some of the major updates that could move the markets tomorrow:

Maruti Suzuki Q1 Results: Net profit jumps 2.5x to ₹2,485 crore

Maruti Suzuki India reported a 2.5x YoY jump in consolidated net profit to ₹2,485 crore for the quarter ended June (Q1 FY24). Its revenue from operations rose 22% YoY to ₹32,327 crore during the same period. The automaker sold 498,030 units during the quarter, registering a growth of 6.4% YoY.

Read more here.

SAIL awards ₹30,483 crore mine development project to Power Mech

Power Mech Projects has secured a mine development and operation (MDO) project of ₹30,438 crore by state-owned steel maker SAIL. The duration of the contract is 28 years, which includes two years of development period. The contract will primarily comprise mine infrastructure development, removal of overburden and extraction of coking coal, crushing, transportation, and setting up of coal washery of 3.5 MTPA capacity.

Read more here.

UPL Q1 Results: Net profit falls 81% to ₹166 crore

UPL Limited reported an 81% YoY decline in consolidated net profit to ₹166 crores for the quarter ended June (Q1 FY24). Its revenue from operations fell 17% YoY to ₹8,963 crore during the same period. UPL has significantly cut its earnings guidance for FY24. The company now sees revenue growing 1-5% in FY24, compared to 6-10% earlier.

Read more here.

Nirma closes in on Glenmark’s API subsidiary

The Nirma Group is the frontrunner to acquire Glenmark Life Sciences (GLS), an 82.84% subsidiary of Glenmark Pharmaceuticals. The conglomerate emerged as the sole bidder late last week. Nirma is using healthcare subsidiary Aculife Healthcare as the likely vehicle for the acquisition. GLS is a leading active pharmaceutical ingredient (API) platform.

Read more here.

Adani Green Q1 Results: Net profit rises 51% YoY to ₹323 crore

Adani Green Energy Ltd reported a 51% YoY increase in consolidated net profit to ₹166 crores for the quarter ended June (Q1 FY24). Its revenue from operations rose 33% YoY to ₹2,176 crore during the same period. Revenue from power supply was up 55% YoY to ₹2,059 crore in Q1. The sale of energy has increased by 70% YoY to 6,023 million units.

Read more here.

DGCA renews Jet Airways flying permit

The Directorate General of Civil Aviation (DGCA) has renewed Jet Airways’ flying permit till September as the fate of the airline still remains uncertain. The company’s air operator’s certificate (AOC) lapsed after it shut operations in April 2019. The airline has been undergoing insolvency proceedings in India’s bankruptcy court (NCLT).

Read more here.

GAIL Q1 Results: Net profit falls 51% YoY to ₹1,412 crore

GAIL (India) Ltd reported a 51.5% YoY decline in net profit to ₹1,412 crores for the quarter ended June (Q1 FY24). Its revenue from operations fell 14% YoY to ₹32,227.47 crore during the same period. The company’s board has approved a proposal to increase the cost of its new petrochemical plant in the Raigad district of Maharashtra from ₹7,823 crore to ₹11,256 crore.

Read more here.

Laxmi Organic board approves ₹710 crore capex to set up manufacturing site

Laxmi Organic Industries Ltd’s board has approved a capital expenditure of ₹710 crore for setting up a manufacturing site in Dahej, Gujarat. The proposed capacity addition of the site in Dahej will be more than 1 lakh tonnes every year. The first phase of the product portfolio at this new site will include speciality items like Diketene and Ketene derivatives.

Read more here.

Vi partners with TSSC to launch IoT Centre of Excellence

Vodafone Idea Foundation has partnered with the Telecom Sector Skill Council (TSSC) to launch the IoT Centre of Excellence at Indira Gandhi Delhi Technical University for Women (IGDTUW) in Delhi. The centre will provide hands-on training in new age and emerging technologies such as 5G, artificial intelligence/machine learning (AI/ML), IoT (internet of things), security, and surveillance to build a skilled workforce for the future.

Read more here.

India’s core sector growth output at 5-month high of 8.2% in June

Growth of eight key infrastructure sectors slowed down to 8.2% YoY in June 2023 due to a decline in the production of crude oil, natural gas, and electricity, as against 5% in May. The coal sector saw a growth of 9.8% YoY in June after growing 32.1% in the same month a year ago. Natural gas grew 3.6% YoY, while crude oil saw a dip of 0.6% YoY.

Read more here.

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Daily Market Feed Post Market Analysis

Weak Weekly Closing for the Month – Post-Market Analysis

Post-Market Analysis for July 28, 2023:

NIFTY started the day flat at 19,659. Throughout the day, the index mostly consolidated with a negative bias. After moving down to the support level of 19,600, Nifty gave a small breakdown, went to the earlier swing of 19,560 levels, and reversed back to close at 19,646, down by 13 points or 0.07%.

Nifty chart post-market report - July 28

BANK NIFTY (BNF) started the day at 45,560 with a gap-down of 118 points. Similar to Nifty, Bank Nifty also mostly consolidated within a 250-point range between yesterday’s closing and 45,300 major support levels. BNF closed at 45,468, down by 211 points or 0.46%. 

Bank Nifty chart post-market report - July 18

Nifty Realty (+1.8%) and Nifty Media (+1.38%) closed well in green, while Nifty IT (-0.8%) fell the most. 

Major Asian markets closed mixed. Germany’s DAX and France’s CAC40 are currently trading in the red, while UK’s FTSE 100 is trading in the green.

Today’s Moves

NTPC (+3.9%) was NIFTY50’s top gainer. Yesterday, the company reported the declaration of the second unit of 660 MW capacity at Barh Super Thermal Power Station.

Intellect Design Arena (+19.7%) jumped after posting strong Q1 results.


Godfrey Phillips (+8.6%) continued its up-move after the company posted a 68.6% YoY risein consolidated net profit to ₹220.97 crore for Q1.

Bajaj Finserv (-1.8%) was NIFTY50’s top loser. The company’s net profit rose 48% YoY to ₹1,943 crore in Q1 FY24.

Supreme Industries (-7.8%) fell sharply after posting weak Q1 results. 

Markets Ahead

Markets took a pause after a huge fall yesterday (monthly expiry). Nifty has given a negative closing on a weekly time frame. This is the first negative closing for Nifty after a strong rally (from 18,900 to 19,990 levels).

Nifty: The major support zone in Nifty is clearly 19,600 levels, and the important resistance now will be 19,700. A breakdown from this support can give us a target of 19,560 and 19,520, while a breakout on the upside can give us a target of 19,750 and 19,820.

Bank Nifty: The next important support level for the index is 45,300, and major resistance would be 45,600. A breakout from 45,600 can give us a target of 46,200 and a breakdown can give us a target of 45,000 and 44,800 eventually.

In the next trading session, major bearishness could hit the markets if the market moves below today’s low and a trend reversal will also be confirmed.

US gross domestic product (GDP) expanded by 2.4% annually in the April-June quarter, surpassing the expected 1.8%. Despite robust economic data from the US, crude oil futures traded lower today morning. Look out for important economic data like India’s manufacturing & services PMI, auto sales data, and others next week!

How did this week go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

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Daily Market Feed Post Market Analysis

Blood Bath on Monthly Expiry! – Post-Market Analysis

Post-Market Analysis for July 27, 2023:

NIFTY started the day at 19,850 with a gap-up of 72 points (above the resistance zone of 19,840). Right from the beginning, Nifty started moving down with strength. It gave a continuous fall to 19,600! Yes, a 250+ point down-move! Post 3 PM, there was a strong recovery of 100 points. Nifty closed at 19,659, down by 118 points or 0.6%.

BANK NIFTY (BNF) started the day at 46,285 with a gap-up of 223 points (near the important resistance zone of 46,200). When Nifty was falling initially, Bank Nifty tried to stay at its opening levels but eventually gave a breakdown and fell 750 points from the day’s high to the low of 45,570 levels. BNF closed at 45,679, down by 383 points or 0.8%. 

All indices except Nifty Pharma (+3.05%), Nifty Realty (+2.1%), and Nifty PSU Bank (+0.5%) closed in the red. Nifty PSU Auto (-1.2%) fell the most.

Major Asian markets closed mixed. European markets are currently trading in the green.

Today’s Moves

Cipla (+9.6%) was NIFTY50’s top gainer. The company posted a 45% YoY rise in consolidated net profit to ₹996 crore for Q1 FY24; beating street estimates.

Godfrey Phillips (+10.7%) zoomed up to 16% after the company posted a 68.6% YoY rise in consolidated net profit to ₹220.97 crore for Q1. 

Netweb Technologies‘ shares listed at ₹947 on NSE, at a premium of 89.4% compared to the issue price of ₹500.

M&M (-6.3%) was NIFTY50’s top loser. The shares fell after the company disclosed plans to pick up a stake in RBL Bank.

RVNL (-6.15%) fell after the company’s two-day offer for sale (OFS) kicked off today.

Markets Ahead

In yesterday’s post-market analysis, we clearly stated that the indices are experiencing selling pressure, and we anticipate a directional move on monthly expiry.

A huge gap-up was formed in our markets because of the US Federal Reserve’s interest rate decision. But immediately after opening, the gap was sold into— indicating that markets are now under selling pressure.

Nifty: The major support for Nifty will be the round level of 19,600, and the major resistance will be 19,700. A breakdown from these levels can give us a target of 19,560 and 19,520. A breakout from 19,700 can give us a target of 19,750 and 19,840 eventually.

Bank Nifty: The index is in a very broad range between 45,600 and 46,200, and can be volatile in this region. Currently, the index is at the bottom support zone of 45,600. If there is a breakdown on the downside, the index can give us a target of 45,300 and 45,000. If it moves up back into the zone, 46,000 can be watched as the target and the first resistance.

Being monthly expiry today, you could have made decent returns if your analysis pointed towards the right direction! How did expiry day trading go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

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Market News Top 10 News

Axis Bank Posts 40% YoY Rise in Q1 Net Profit – Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

Axis Bank Q1 Results: Net profit rises 40% YoY to ₹5,797 crore

Axis Bank reported a 40% year-on-year (YoY) increase in consolidated net profit of ₹5,797 crore for the quarter ended June (Q1 FY24). Its net interest income (NII) rose 27% YoY to ₹11,959 crore during the same period. The bank’s operating profit grew 50% YoY to ₹8,814 crore. The gross non-performing assets (GNPA) ratio declined by 80 basis points to 1.96% in Q1 FY24.

Read more here.

M&M acquires 3.53% stake in RBL Bank for ₹417 crore

Mahindra & Mahindra has acquired a 3.53% stake in RBL Bank Ltd for ₹417 crore. The automaker said it will consider further investment subject to regulatory approval and required procedures, but won’t acquire more than a 9.9% stake. While the exact date of the transaction remains unclear, RBL Bank had not mentioned M&M in its June shareholding data.

Read more here.

Tech Mahindra Q1 Results: Net profit falls 39% YoY to ₹693 crore

Tech Mahindra reported a 39% YoY decline in consolidated net profit to ₹693 crore for the quarter ended June (Q1 FY24); missing street estimates. Its consolidated revenue rose 4% YoY to ₹13,159 crore during the same period. EBITDA fell 29% YoY to ₹1,338 crore in Q1. The new deal wins in the June quarter more than halved to $359 million.

Read more here.

Embassy Office Parks REIT expects to lease 6 million sq ft of office space in FY24

Embassy Office Parks REIT expects to lease 6 million sq. ft. of office space in FY24, despite global financial turmoil and corporates reassessing their real estate portfolio. The company leased 1.1 million sq. ft. across 22 deals, encompassing 4 lakh sq. ft. of new leases and pre-leasing of 4.48 lakh sq. ft., at premium rates to market rents. In Q1 FY24, Embassy REIT achieved a net operating income (NOI) of ₹738 crores, marking a 9% YoY growth.

Read more here.

Cipla Q1 Results: Net profit rises 45% YoY to ₹996 crore

Cipla Ltd reported a 45% YoY increase in consolidated net profit to ₹996 crore for the quarter ended June (Q1 FY24); beating street estimates. Its revenue from operations stood at ₹6,329 crore during the same period, up 18% YoY. EBITDA grew 31% YoY to ₹1,494.02 crore in Q1. The 12% growth in its Indian business was led by growth across branded prescription, trade generics, and consumer health.

Read more here.

BHEL synchronises 660 MW Unit-2 of Maitree thermal power project

Bharat Heavy Electricals Ltd has synchronised 660-MW unit-2 of the 1,320-MW Maitree Super Thermal Power Project (STPP) with the electricity grid in Bangladesh. Synchronisation of a thermal power plant means the beginning of electricity supply through the main grid at prescribed parameters. Maitree STPP is being set up by BHEL for the Bangladesh-India Friendship Power Company (BIFPCL).

Read more here.

Dr Reddy’s Labs Q1 Results: Net profit rises 18% to ₹1,405 crore

Dr Reddy’s Labs reported an 18.2% YoY increase in consolidated net profit to ₹1,405 crore for the quarter ended June (Q1 FY24); beating street estimates. Its revenue from operations rose 29% YoY to ₹6,758 crore during the same period. The growth in the consolidated revenue of Dr Reddy’s was primarily on account of new product launches, continued momentum in existing products, and favourable forex rates movement.

Read more here.

Shree Cement to invest ₹7,000 crore on capacity expansion

Shree Cement said it will invest ₹7,000 crore for capacity expansion in the next phase of capacity augmentation. The company will invest in setting up a clinker capacity of 3.65 million tonnes in Pali, Rajasthan. It will also invest in a cement capacity of 6 million tonnes at Pali, Rajasthan and Etah, Uttar Pradesh.

Read more here.

Tata Consumer Q1 Results: Net profit rises 30% YoY to ₹359 crore

Tata Consumer Products Ltd reported a 30% YoY increase in consolidated net profit to ₹359  crore for the quarter ended June (Q1 FY24). Its revenue from operations rose 12% YoY to ₹3,741 crore during the same period.  The revenue growth is mainly driven by a strong 16% uptick in India Business, 3% in international business, and 5% in non-branded business. EBITDA stood at ₹547 crore in Q1, up 19% YoY.

Read more here.

Tata Motors to convert DVR shares to ordinary shares

The board of Tata Motors approved the cancellation of its entire DVR or ‘A’ ordinary shares. Holders of the DVR will get seven ordinary shares for every 10 DVRs held. This marks a premium of 23% over the previous day’s close of the DVR shares and a 30% discount to Tata Motors’ ordinary shares. The proposed scheme to cancel DVR shares will lead to a reduction in Tata Motor’s outstanding equity shares by 4.2%.

To learn more about DVR shares, click here.

Read more here.

Bajaj Finance Q1 Results: Net profit rises 32% YoY to ₹3,437 crore

Bajaj Finance reported a 32.4% YoY increase in consolidated net profit to ₹3,437 crore for the quarter ended June (Q1 FY24). Its revenue from operations rose 35% YoY to ₹12,498 crore during the same period. Net interest income (NII) for the quarter increased by 26% YoY to ₹8,398 crore. The company’s assets under management (AUM) as of June 30 stood at ₹2.70 lakh crore, up 32% from the year-ago period.

Read more here.

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Daily Market Feed Post Market Analysis

Trending Monthly Expiry? – Post-Market Analysis

NIFTY started the day at 19,733 with a gap-up of 52 points (above the important resistance zone of 19,700). There was a good upside movement till 19,820 levels initially. After that, the index mostly consolidated within a 45-point range till 2:40 PM and then broke down from the consolidation. Nifty closed at 19,788, up by 97 points or 0.5%.

Nifty chart - July 26

BANK NIFTY (BNF) started the day at 45,935 with a gap-up of 90 points. Throughout the day, the index consolidation with a positive bias in a channel. The resistance level of 46,000 still acted strong, and there was no good breakout from there. BNF closed at 46,062, up by 217 points or 0.47%. 

Bank Nifty chart - July 26

All indices closed flat-to-green today. Nifty PSU Bank (+1.5%) and Nifty Realty (+1.19%) moved up the most. 

Major Asian markets closed mixed. European markets are currently trading in the red.

Today’s Moves

L&T (+3.3%) was NIFTY50’s top gainer. The stock hit a 52-week high of ₹2,673.85 on the back of strong Q1 results and buyback announcement.

Reliance (+1.6%) rose up to 3% after reports revealed that the Qatar Investment Authority (QIA) is in talks to buy a stake in Reliance Retail Ventures.

Tata Motors DVR (+12%) surged after Tata Motors decided to cancel the differential voting rights (DVRs) to further simplify the capital structure. Tata Motors will issue 7 ordinary shares for every 10 DVR shares held.

Bajaj Finance (-2.28%) was NIFTY50’s top loser. The company posted a 32.4% YoY rise in consolidated net profit to ₹3,437 crore for Q1 FY24, beating street estimates.

Can Fin Homes (-9.4%) fell sharply after the company reported that employees at one of its branches committed fraud of nearly ₹38.53 crore.

Markets Ahead

The Indian market is still looking weak, and today’s move can be just another retracement from the bottom levels for further fall to come.

Nifty: The major support now in Nifty will be 19,750 and the important resistance to watch out for is 19,840 levels. If there’s a breakdown from 19,750, we can expect the index to come down to 19,700 and then to 19,620 levels eventually. A breakout on the upside could give us targets of 19,880 and 19,900.

Bank Nifty: If today’s parallel channel is breached on the downside (below 46,000), the index can give us a target of 45,620 levels. A breakout on the upside can give us a target of 46,200 and 46,350.

Being a monthly expiry tomorrow, both indices can be volatile with directional moves. So trade cautiously and watch the levels mentioned above!

Meanwhile, the US Federal Reserve is expected to hike interest rates again at today’s Federal Open Market Committee (FOMC) meeting by 25 basis points to 5.5% (versus 5.25% earlier).

What levels are you watching out for expiry tomorrow? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!