Tag: HDFC Bank share

Today’s Market Summarised

Market once again consolidates in the day, with a small bearish sentiment after the RBI Governor’s speech.

Nifty opened the day at 15,713 and tried to move up. But all it could do in the first 1 hour was touch a fresh high of 15,734. From here, the index fell slowly more thann 100 points. A small pullback was seen towards the end. Nifty closed the day at 15,670, down just 20 points or 0.13%.

Bank Nifty was much more bearish than Nifty. After opening at 35,665, the index went up more than 200 points very quickly. But from the day’s high, a 600+ point fall was seen. Bank Nifty closed at 35,291, down 357 points or 1%. 

Nifty Bank(-1%) closed as the worst performing sector in the day. Nifty Metal(+1.35%) was up followed by Nifty Media(+1.02%). All other sectoral indices closed flat.

Asian markets also closed flat with a bearish bias. Interestingly, European markets are all trading flat and in the red.

News Picks

With PNB Housing Finance gaining 91% this week, other housing finance stocks moved up today. Indiabulls Housing Finance(+14.23%) and LIC Housing(+6.12%) were the notable gainers.

RBI’s Monetary Policy Committee maintains Repo Rate at 4% while keeping all other rates the same as well. The central banker of India reduces FY22 GDP forecast to 9.5% from earlier estimate of 10.5%. Markets expected the same so no significant move happened.

Adani Enterprises once again shot up in the day, gaining 7.44%. With this, the stock has gained nearly 30% this week. Adani Power is up by 4.9%

Coal India is said to raise the reserve price for the upcoming auction of coal. The stock closed 2.75% up. Along with this, NMDC went up 4% As private miners are said to likely have hiked prices.

Shares of Grasim hit a new 52-week high and closed as Nifty 50’s top gainer. You can read more about the company here.

Jaguar Land Rover’s sales data for May from U.K was published. Total sales for May stood at 7,858 units, up 526% YoY and down 6% compared to last month. Tata Motors closed 2.8% up. 

Also, Tesla is looking to bring its Model 3 cars to India by July-August for testing.

Along with other NBFCs, Bajaj Finserv, Bajaj Finance and HDFC showed up on the top-gainers list with small gains.

With rising international crude oil prices, ONGC shares closed 2.4% up in the day. The stock is up nearly 12% this week.

Bharat Forge reported Q4 standalone net profit at Rs 205 crores against a loss of Rs 11.5 crores last year, and a 65% increase compared to last quarter. The stock shot up and closed 7.9% up.

Gujarat State Petroleum Ltd gained 7.5% after posting good Q4 results yesterday.

RBI announced a Rs 15,000 crore scheme provided for hotels & restaurant sectors. Hotel stocks shot up in the morning.

Indian Hotels(+1%), Lemon Tree(+3.4%), EI Hotel(+5%), EIH Associated Hotels(+20%), Delta Corp(+3.8%) moved after the news. SpiceJet gained 2.4%.

Sources say Niti Ayog has sent IOB(+10%) and Bank of Maharashtra(+13%) names for privatisation policy to Dipam and the Department of Financial Services. The stocks moved up.

Defence stocks including BHEL(+2.1%), BEML(+3.1%), HAL(+1.27%) moved up in the day once again.

Sources say Axis Bank is in talks to acquire Spandana Sphoorty. The finance company’s stock closed 8% up after being up nearly 20% in the day. It was up 20% yesterday.

Top banks including SBIN, HDFC Bank, ICICI Bank and Axis Bank featured in the top-losers segment of Nifty 50 with 1% losses.

Markets Ahead

With the RBI reducing India’s growth outlook for this financial year, the market saw some selling near the top. Weakness was seen in many banking stocks as well. But even when Nifty fell to 15,600, buyers kicked in to take the index back up. 

Also, midcaps and smallcaps again outperformed by closing in the green, while Nifty fell. If you look at the candlesticks Nifty has created in the 1D chart, you can see that there is a loss of strength.

Interestingly, the RBI Monetary Panel has asked the Governmet to cut petrol and diesel taxes. Increased prices in fuel usually pushes up inflation.

Another week has gone by, and Nifty has closed with an amazing 270 point gain from Monday. I personally feel that the next week would see consolidation around this zone. 

With India VIX being low, there is a consolidating market condition now. The high number of Call Options being written around 15,700 also indicate that Nifty’s rally might take a break next week.

How did this week go for you? Nifty has hit all-time highs, so how are your swing and intraday results for the week? Let us know in the comments of the marketfeed app.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Once again an all-time high for Nifty, but this time with much less power.

Nifty opened the day at 15,667 with a gap-up and was highly volatile. But then it slowly fell over the day  and moved down in the day. It kept moving down slowly and went down to nearly 15,600 levels. From here, Nifty gained 95 points and even touched a new all-time high within 2 hours. Nifty closed the day at 15,690, up 114 points or 0.73%.

Bank Nifty opened at 35,597 and consolidated in a 200 point range for 4 hours. After testing the day-low again, the index moved up just 300 points, breaking the 35,600 level. It took resistance at the high of June 1st. Bank Nifty closed the day at 35,649, up 275 points or 0.78%.

Nifty Realty(+3.79%) once again went up, and was followed by Nifty Media(+1.64%). All other sectors closed with a less than 1% move.

Asian markets closed mixed in the day. European markets are all trading flat and in the red.

News Picks

Titan gained 6.65% in the day to close as Nifty 50’s top gainer. Gold prices are moving up, and consumer demand for the company’s products is moving back to normal. Market cap of the Tata Group company now stands at Rs 1.5 lakh crore.

With prices of Brent Crude moving up in the international markets, ONGC gained 4% and OIL India gained 1.5%. The stocks have hit their 52-week highs. To track such international news, including crude prices, read our Top 10 International News article on marketfeed.

After reports of Hinduja Bank’s licence being cancelled by Cayman Islands for money laundering, IndusInd Bank saw sharp selling pressure. After this, the bank gained back after it denied all reports of being a unit of Hinduja Bank. The stock closed 2.1% down as Nifty’s top loser.

Snowman Logistics closed 11% up after it partners with Dr Reddy’s for Sputnik vaccine in India.

Muthoot Finance gained another 6.8% in the day, continuing its rally from yesterday after posting results.

The central government is set to reduce GST on shipping Maintenance, repair and operation supplies from 18% to 5%. Stocks like GESHIP, COCHINSHIP,SCI and GRSE shot up in the morning and then cooled down to close in the green.

Phoenix Mills will receive Rs 830 crores from Singapore Government’s wealth fund according to Shishir Shrivastava of Phoenix Mills. The stock closed 6.7% up.

Shalby Hospital ties up with Serum Institute of India , Bharat Biotech and Dr Reddys for providing Covid-19 vaccine. Stock closed 5% up. Many hospital stocks gained in the day. Apollo Hospitals gained 4.64%, while MaxHealthcare gained 6.2%.

APL Apollo Tubes reported Q4 consolidated net profit at Rs 119 crores, up 109% YoY and down 9% from the last quarter. The stock closed 4.9% up.

The government has brought forward the target date ethanol blending programme. Eid Parry(+1.67%), DCM Shriram(+2%) and Balramchini(+3.2%) moved up.

Cadila HealthCare got tentative approval from USFDA for Osimertinib tablets used for treating lung cancer. The stock gained but was pulled down by other Pharma stocks and closed 1.1% up.

Leading domestic steelmakers have hiked the prices of hot-rolled coil (HRC) and cold-rolled coil (CRC) by up to Rs 4,000 and Rs 4,900 per tonne. Nifty Metal closed with just 0.66% gains.

Electronics stocks like Voltas(+7.6%), Crompton(+2.2%), Dixon(+2%), Blue Star(+2.3%), Havells(+2.4%) moved well in the day

From the auto sector, Escorts gained 4.7% and Eicher Motors gained 3.3%. Most other auto stocks remained flat.

Mothersumi fell 6.89% in the day after gaining over 12% yesterday. This happened after downgrades from Jefferies, CLSA and Nomura that the recent rally has made the stock a bit overvalued.

Major Realty stocks like Oberoi Realty(+9%), Sunteck(+3.7%), Godrej Properties(+1.1%), Sobha(+2.4%), Indiabulls Real Estate(+5.7%), DLF(+2.3%), Prestige Estates(+5.3%) performed well. This was after the government rolled out a new framework, Model Tenancy Act, for rental housing in India.

Markets Ahead

What a boring day honestly in the market. These are days where investors will smile and traders won’t. Not to say there were no interesting moments in the day. Bank Nifty bouncing back from the day-low and breaking the consolidation was a great sight. But even after this, the movement was limited.

No stock other than Indusind Bank fell more than 1% from Nifty 50. As this consolidation was happening, the midcap index once again rallied to its all-time highs. Nifty Smallcap gained 1.3% as well.

This was the first weekly expiry with the reduced leverage rules by SEBI. Did it affect your trades in a good or a bad way? Let us know in the comments of the marketfeed app.

Most of this consolidation is contributed by India VIX dropping another 8% today, indicating that the markets are now very less volatile.

According to an official, the government is soon set to notify Production Linked Incentive(PLI) schemes for auto components, steel and textile sector. Do make a list of your favourite companies from this space, and have a study.

Do have a study of the Model Tenancy Act discussed above as well. Expecting some renewed power in the realty sector in the next cycle of markets rally.

Hope you had a great day in the market!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty closes in the green after a sharp turnaround from the day lows.

Nifty opened the day at 15,536 and moved down in the day. It kept moving down slowly and even went down below 15,500. Just after touching the day-low at 1:15 pm, the index flew back up to 15,600 ranges. Nifty closed the day at 15,576, up 1 point or 0.01%. Now that is consolidation!

Bank Nifty opened at 35,277 and moved down. It took support at the 35,000 zone all along the day. Just in the afternoon, the index broke the opening range and moved up. Bank Nifty closed the day at 35,373, up 37 points or 0.1% in the day.

Nifty PSU Bank gained 3% while Metal closed with gains of 2.18%. Nifty Realty(1.45%) while all other sectors closed flat.

Asian markets mostly closed flat, with some even in the red. European markets are all trading flat and in the green.

News Picks

Major fertilizer shares gained over the day with India expecting a good monsoon this year. UPL(+2.76%) featured as Nifty 50’s top gainer. Pi Industries(+2%) also gained.

Reliance has announced that its Annual General Meeting will be on June 24th. Jio-Google 5G smartphone and Jio laptop launch, and Jio 5G rollout date are expected. The stock gained sharply from day-low to close 1.5% up.

Metal stocks remained volatile with many closing as top-gainers today, after being top-losers yesterday. Tata Steel(+2.1%) and JSW Steel(+1.6%) closed in Nifty’s top-gainers. Vedanta Limited(+2.5%) also gained.

Motherson Sumi reported Q4 consolidated net profit at Rs 714 crores , up 290% YoY and down 10% compared to last quarter. Interestingly, the company reported net debt has reduced to Rs 4,820 crores, down from Rs 6,206 crores in the last quarter(-22%). The stock flew up to close 13% up.

Following this result, other auto ancillary shares gained. Bharat Forge(+4.6%) was the most notable.

Mangalore Refinery & Petrochemicals(MRPL) is set to consider and approve the joining of ONGC Mangalore Petrochemicals Limited (OMPL) with the company. Stock closed 4% up.

Adani Enterprises gained 9.21% in the day, after gaining 8% yesterday. The stock is at all-time high levels. Other Adani stocks including Adani Ports(+1.67%), ATGL(+9%), Adani Trans(+3.9%), Adani Green(+2.9%) performed very well.

Gujarat Gas closed 4.8% up after announcing good results for Q4. The company is also set to acquire City Gas Distribution business for Amritsar and Bhatinda geographical areas from Gujarat State Petronet for Rs 163.31 crore.

Muthoot Finance reported a Q4 consolidated net profit at Rs 1,000 crores, up 20% YoY and flat compared to last quarter. The lender is also considering fundraising up to Rs 5,000 crores. The stock closed 8% up. Peer company Manappuram gained 2% after the results. 

ICICI Securities posted a bullish call on IDFC First Bank and saying ‘Superior incremental unit economics demonstrates business potential’. IDFC First Bank gained 5.91% in the day, while parent company IDFC gained 2.5%.

PSU Banks moved up well in the day. SBI closed 1% up at fresh highs, while PNB gained 5.6%. Central Bank closed 10% up in a day where all participants of the index closed in the green.

HFCL is set to participate in PLI for telecom and networking products manufacturing. The stock closed 3.6% up

Adani Green is commissioning a 150 MW wind power project. This is 9 months before the scheduled date. Share closed 2.3% up in the day.

Lupin gets USFDA approval for Pegfilgrastim Biosimilar application, which is used in chemotherapy. The stock closed 3.1% up.

PVR reported Q4 consolidated net loss at Rs 289 crores vs a loss of Rs 74.5 crores last year vs a loss of Rs 49.1 crores last quarter. The company plans to raise funds around Rs 500 crores. The stock closed 1% up in green after high volatility. 

Glenmark Pharmaceuticals Ltd announced the launch of anti-epileptic drug Rufinamide tablets in the US market. The stock closed 3.3% up.

ITC Limited fell 2.9% after reporting a 3% YoY decline in consolidated net profit to Rs 3,755 crore for Q4.

Midcaps outperformed Nifty 50 with midcap index up 1.4% to post record close.

Markets Ahead

Nifty was mostly in a mood to consolidate in the day. It slowly moved down and broke yesterday’s low and then went further down. But in the last 2 hours, especially with power from Reliance and private banks. 

15,600 continued to act as a resistance but it is only a gap-up distance away now. 

PNB gained in the day as we had discussed it could move up after the PNB Housing Finance’s fundraising news. Other PSU Banks also closed in the green. 

I feel like the market is topping out for this week and clearly consolidating even with the bullish close. One sign of this was midcaps and smallcaps outperforming Nifty 50. Usually this happens when the benchmark index has rallied and is ready to consolidate.

Reliance has closed just near yesterday’s high but above Rs 2,200. I expect that this is the time when Reliance will actually move back to its all-time highs above 2,300.

Keep an eye out for Life Insurance companies as well. They featured among the top-gainers, and are trying to break the bearish phase.

Hope you had a great day in the market!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Market consolidates at the top with every sectoral index consolidating in the day.

Nifty opened the day at 15,630 and tried to move up. After facing weakness at the top, it fell 130 points the day-low. But from here, Nifty moved up with a lot of volatility. At the end of the day, Nifty closed flat at 15,574, down 8 points or 0.05%.

Bank Nifty opened at 35,651 and it too did not have any power near the top. ICICI Bank fell heavily in the morning to take Bank Nifty down to 35,200 levels. From here, the index tried to gain back but was highly volatile. Bank Nifty closed the day at 35,337, down 190 points or 0.53% in the day.

All sectoral indices closed without giving even a 1% move today.

Asian markets mostly closed in the green today. European markets are all trading in the green, with good manufacturing data coming from U.K.

News Picks

Adani stocks saw renewed strength in the day. Adani Ports (+3.7%), closed as Nifty 50’s top gainer. Also, Adani Ent(+7.5%), Adani Power(+3%), Adani Trans(+1.7%) and ATGL(6.8%) also moved in the day

ONGC gained nearly 3.5% in the day and is just 4% away from its 52-week high now. It is a good resistance zone for the stock, and might see a good move if crossing these levels.

Nifty Auto tried to move up in the day but closed 0.32% in the red. Many auto companies reported their auto sales data for May. 

The only auto stock to gain considerably was Bajaj Auto, which closed 1.1% up. The stock was up nearly 3.5% in the morning but fell soon afterwards. Bajaj Auto reported May Total Sales at 2.71 lakh units, up 113%. But the numbers were still down 30% compared to April, as expected.

Ashok Leyland reported a 60% month-on-month fall in total sales at 3,199 units. The stock closed 1.46% down.

Even as Auto stocks consolidated, auto ancillary stocks moved down. Bharat Forge, Mothersumi and Balkrishna Industries closed more than 1% down.

Cabinet Ministry says Railways loaded the highest ever freight of 114.8 metric tonne in May, up 9.7% from May 2019. Concor moved nearly 3% from day low and closed 1.35% up.

Reports of Chinese steel mills profits falling in May, and the potential easing of restrictions to increase China’s steel supply. Most steel companies fel sharply in the day, but regained a bit. JSW Steel(-2.31%), Tata Steel(-2.2%) closed as Nifty 50’s top-losers. SAIL(-4.2%), Jindal Steel(-2.63%) also fell.

Crisil Ratings says shrimp exports to rebound 20% and that India will regain the top spot. Avanti Feed gained 1.76% in the day and Apex Frozen gained 2.3%.

OIL India completed transfer of shares of Numaligarh Refinery Limited to the Government of Assam. The stock jumped and closed 2.7% up.

Radico Khaitan Ltd reported Q4 net profit at Rs 73.5 crores, up 124% YoY. The stock closed with 1% gains.

Balrampur Chini Mills, sugar manufacturer, reported Q4 consolidated net profit at Rs 235 crores vs Rs 241 crores last year(-2.4%) vs Rs 26.9 crores last quarter(+773%). The stock closed flat.

Except for SBI, all Nifty Bank constituents closed in the red. ICICI Bank was down by 1.91%. top loser.

HDFC Mutual Fund acquired 24.81 lakh equity shares in IRB Infrastructure at Rs 111 per share.  IRB Infrastructure moved 5% from day low and closed 2.6% up at Rs 116.

PNB Housing again closed 20% up in the day after yesterday’s fund-raising news. The stock has now gained 44% in the last 2 days.

Stocks like Capri Global(+18.6%), FluoroChem(+11%), NH(+12.4%) and Venkey’s(+10%) were in a different trend in a consolidating market.

Markets Ahead

A very uneventful start of the month for the Indian markets.

Markets looked in a mood to consolidate after the rally in the last 2 days. With the high number of call option contracts being written at 15,600 and above, a further bullish move will have to wait. This shows that the level may act as a good resistance for the week. 

Even when profit booking kicked in for Nifty, the index easily gained back and closed above 15,550. If you look at the 1-Day charts, Nifty has closed in the red after 7 trading days. The candle still shows a bit of strength, and today’s high and low levels can be watched for catching a good movement tomorrow.

India VIX is slightly up, by 3%. SBI still looking strong and closing in the green might be a good sign for more moves from PSU Banks, especially PNB with PNB Housing Finance showing such a big turnaround. 

Hope you had a great day in the market!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Once you pass a barrier, the rest of the journey is said to be easy. Nifty clearly showed that in today’s trade.

Nifty opened the day flat at 15,440 and moved down. It took support immediately and reversed. From the day-low, Nifty easily broke 15,500 and even touched 15,600 by the day-closing. With help from Reliance and Banks, Nifty closed at fresh all-time high levels of 15,582, up by 148 points or 0.95%.

Bank Nifty opened at 35,109 and moved down just like Nifty. It tried to break the 35,000 support but bounced back chrome there. With a lot of help from ICICI Bank, the index kept moving up in the day, but was more volatile than Nifty. Bank Nifty closed the day at 35,526, up by 385 points or 1.10%.

Nifty Metal gained nearly 2% in the day, followed by Nifty Bank, Finserv, FMCG and Realty at just above 1% gains. Nifty Media fell 1.36% while all others consolidated. Nifty Energy was up 1.7% in the day.

Asian markets closed mixed, but mostly in the green today. European markets are trading flat in the red. 

News Picks

Reliance once again continued its rally back to all-time levels by gaining more than 3.1% in the day. The stock closed at 2,160 after touching an intraday high of Rs 2,190. 4. The company is set to receive in cash a sum of Rs 13,281 crores on account of the first call for its rights issue.

With Morgan Stanley saying that a steel price hike is likely in the 1st week of June, Nifty Metal shot up. JSW Steel(+3%), Tata Steel(+2%) and Hindalco(+1.7%) featured in Nifty 50’s top-gainers list. SAIL(+4.71%) also moved up in the day.

Aurobindo Pharma reported Q4 consolidated net profit posted at Rs 802 crore, down 7% YoY and below expectations. The stock closed 2% in the red after volatility.

With PNB Housing Finance’s board approving fundraising of Rs 4,000 crores by a preferential issue of shares, the stock hit 20% Upper Circuit in the day. Carlyle Group is said to increase its stake from 26% to 30% in the NBFC. Former chief of HDFC Bank, Aditya Puri, also took part in the fundraising and is likely to be nominated to the board to increase investor confidence.

With investors concerned about M&M’s low forecast for Tractor sale growth and high capital expansion plans, the stock fell sharply in the morning. Gained back some losses but closed 4.48% in the red.

With natural gas futures rising 3% in the last 3 days on India’s MCX and increasing international prices, gas stocks went up in the day. GAIL(+4.58%), GujGas(+5%), IGL(+3%) and MGL(1.4%) were the notable gainers. 

Dr Reddy’s closed 2.21% in the green after reports saying that the company is in talks with the Government to bring Sputnik Light into India. 

Bharti Airtel moved up 2% after announcing it upgraded its mobile network in North East by adding 10 Mhz spectrum in the 2300 Mhz band for offering the “best experience” to its customers.

Gold-lenders Manappuram(4.22%) & Muthoot Fin(+3.6%) gained on rising gold prices.

The Q4 results of Divis Lab were above estimates and the stock moved 1.7% up. Meanwhile, Bank of Baroda Q4 reported a net loss of Rs 1,047 crore and fell 3.5%.

Mall developer Phoenix Mills and Canada Pension Plan Investment Board have agreed to form a joint venture to develop a regional retail centre in Alipore, Kolkata. The stock moved 6% up in the morning and closed 3% up.

ITC closes with a gain of 1% ahead of announcing its Q4 earnings. High growth in revenue is expected for the company. 

Markets Ahead

The Supreme Court has grilled the Government today on account of the unavailability of vaccines. The Government once again said that it estimates the entire eligible population to be vaccinated by year-end.

Just after the market closed, India’s Fiscal Deficit numbers for FY21 were reported. It stands at Rs 18.21 lakh crore compared to last year’s Rs 9.34 lakh crore, but near revised estimates. The government has been spending heavily after the beginning of the pandemic and this was expected.

Starting tomorrow, Auto sales data for the month of April will be announced. Do not expect it to be good, as most parts of the country went into lockdown this month.

The country’s GDP data is also expected today. A decent growth is expected and markets will not be reacting if the data is as expected. But if the GDP numbers are too poor, it may affect the market.

Once again, small-cap and midcap indices saw very little movement in the day as Nifty hit new highs. 

Adani increasing the tariffs in Lucknow Airport by up to 10 times is interesting. Will have to now hedge Air Travel with Adani Ent(+1%) shares. 

Airtel has shown a strong closing and might move up more in the coming days as Reliance has. The 500-520 support zone is strong for the stock.

A fresh month starting tomorrow! With India’s Volatility Index(VIX) reaching the lowest levels in a year, expecting some calm moves in the market. How was the month of May for you? Let us know in the comments of the marketfeed app.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

A day of achievement for the market as Nifty touches a fresh all-time high in trading hours. Reliance and HDFC Bank help Nifty close at record levels.

Nifty opened the day at 15,424 with a gap-up of nearly 90 points.The index mostly consolidated in a tight range, taking 15,400 as support. Even when Reliance kept moving up, other heavyweights kept Nifty flat. Nifty closed the day at 15,435, up 98 points or 0.74%. 

Bank Nifty opened at 35,345, its highest level since March 16th. The index was generally weak. It took support near the 35,000 zone and jumped towards the end with power from HDFC Bank. Mostly a day of consolidation for the index. Bank Nifty closed the day at 35,141, up just 46 points or 0.13%.

Nifty Pharma closed 1.18% in the red. No other sectoral index closed with a more than 1% up or down move. Nifty Energy, which is a thematic index, closed 1.4% up.

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

News Picks

Reliance closed as Nifty 50’s top-gainer after a long time. The stock went up 6% in the day and was pushing up Nifty the most. With Jefferies noting that the energy business of the company is likely to see better profits, there was huge buying interest in the stock.

AstraZeneca Pharma and Sun Pharma discontinued the dealfor the distribution of a diabetes medicine. SunPharma fell nearly 4.25% after reporting a loss for US-subsidiary Taro.

United Breweries: Banks began inquiries with brokers to sell a 16.15% stake in the company. The stock saw heavy selling and closed nearly 2% down.

Canara Bank approved the capital raising for the year 2021-22 for Rs 9,000 crores from equity and debt instruments. The stock gained more than 5% in the day.

Mahindra & Mahindra closed 2% up after gaining sharply from the day-low. This was after the company reported Q4 Net Profit of Rs 48.4 crore against a loss last year.  This is including a one time loss of Rs 890 crore.

Grasim featured in top-gainers section by gaining 3.41%. The stock has been gaining since announcing Q4 results earlier this week.

Government may tweak FDI rules to allow 100% FDI in BPCL, which means a foreign entity could fully takeover the PSU. The final proposal will be sent to the cabinet soon. BPCL closed nearly 1% up in the day.

Eicher Motors reported a 73 per cent jump in consolidated profit after tax at Rs 526.14 crore. The stock moved up 1%.

Markets Ahead

Nifty moving ahead to all-time highs and closing near the top. The bull market continues. Interestingly, Nifty is up 98 points and Reliance contributed 88 points just on its own.

More participation from Bank Nifty and Reliance is expected next week as Nifty targets 15,800 and even 16,000 levels in the coming months. A good short term support has formed near 15,000 and a longer-term support is seen at 14,600 for Nifty.

Nifty Media gained the most this week, up by 7%. Nifty PSU Bank gained 4% this week mostly from SBI hitting new all-time highs. IT index gained 3.9%.

Governments are slowly opening up and lifting lockdown restrictions as Covid cases reduce across the country. A stimulus package is also being planned. Improved economic data from the United States, which has shown that vaccination can indeed help economies is also a positive.

Now all eyes are on the Q4 GDP data from India. It will be announced on 31st of May, Monday. Markets are surely expecting some good numbers.

Interestingly, Midcap and Smallcap indices closed in the red even with Nifty forming a small green candle. There is a chance that money will flow into quality largecaps in the coming few sessions as smaller stocks cool down.

Have some chill time and take good care of your health. But also don’t forget to take some time out and study some charts. Have a great weekend!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

A day that started off as very boring, but closed as one of the most interesting monthly expiries in the market!

Nifty opened the day at 15,335 and tried to move down. From the morning low, the index moved up very slowly. For more than 2 hours at the middle, the index consolidated in a 35 point range. In the last 2 hours, Nifty fell to the day low then shot up to new day-highs. Nifty closed the day at 15,337, up 36 points or 0.24%.

Bank Nifty opened at 34,732 and tried to move down. The zone near 34,500 acted as strong support multiple times and by 10.35 am, Kotak Bank started moving up like crazy. From here there was no looking back. Resistance was taken near the 35,000 level first. But in the last 1 hour, the index jumped nearly 500 points especially with power from SBI. 

Bank Nifty closed at 35,095, up 410 points or 1.18%.

Nifty PSU Bank(+2.85%) was the best performing sector of the day. Bank Nifty(+1.18%), Nifty IT(+1.14%) and Nifty Realty(-1.19%) moved the most in the day. All other sectors moved less than 1%.

Asian markets closed mixed in the day. European markets are mostly trading flat.

News Picks

Markets gained a lot of positivity after the RBI released its annual report for the nine-month financial year of 2020. RBI said that Indian economy not as hard hit as first wave but uncertainties remain. RBI says, fiscal policy stance brightens prospects of eco recovery. RBI said they will ensure that system liquidity remains comfortable in FY22.

Kotak Mahindra Bank plans to consider fundraising via issuing bonds/debt securities on May 29. The stock closed nearly 2% up.

SBI touched a new 52-week high and closed 2.82% up in the day. The rally in SBI near the market close took Bank Nifty up.

Reliance closed 1% up in the day with Google CEO Pichai once again says they are working closely with Jio to launch affordable smartphones.

BPCL interestingly opened with a small gap-up and closed 0.5% in the red. Many market participants expected the stock to shoot up after declaring good results and a great dividend. But the news that BPCL divestment may take time pulled the stock down.

Privatization of BPCL is likely to be delayed by another six months over open offers to Petronet & IGL shareholders, which may raise the acquisition cost by Rs 20,000 crore

Kerala-based Kalyan Jewellers reported Q4 consolidated net profit at Rs 74.2 crores vs Rs 48.1 crores last year(+54%) vs Rs 132 crores last quarter(-43%). Revenue at Rs 3057 crores vs Rs 2141 crores last year vs Rs 2936 crores last quarter. The stock closed nearly 3.5% down in the day.

Cement stocks gained sharply, especially near market close. Shree Cements(+3.65%), and UltraCemCo(+1.40%) closed among top-gainers in the day.

Wockhardt Pharma reported Q4 consolidated net loss at Rs 92.8 crores vs a profit of Rs 48.3 crores last year. The stock crashed and closed 14% down.

Alkyl Amines gained 8% after reporting Q4 consolidated net profit at Rs 92.6 crores vs Rs 49.2 crores last year(+88%) vs Rs 84.44 crores last quarter(+9%).

India Govt extends deadlines for merchant banker bids for RCF and NFL Offer For Sales by 1 week. Both stocks closed 2-3% in the red.

RCF closed 3.8% down after reporting Q4 consolidated net profit at Rs 154 crores, down -23% YoY and but up 56% compared to last quarter.

PayTM is looking to target a Rs 21,818 crores IPO, largest ever for India.

Piramal Enterprises rose 6% following National Company Law Appellate Tribunal’s stay on their order in the DHFL case.

Sun Pharma closed flat in the day and reported Q4 consolidated net profit after market close. Net profits are at Rs 894 crore, up 110% YoY , but down 52% compared to last quarter.

V-Guard Industries reported doubling of its consolidated net profit to Rs 68.38 crore for the fourth quarter. Stock is up by 5.5%

Manappuram Finance fell by 3.8% after reporting their quarterly profits yesterday.

Markets Ahead

What an interesting day in the market. Nifty was looking in a consolidation mood even as Bank Nifty jumped nearly 700 points up from the day-low. Even as banks went up, HDFC and other stocks fell to keep Nifty level. 

This is what happens in the expiry days. Consolidation means if some stock is performing well, others will pull down the index.

With this close, Nifty is closer than ever to its all-time high again. If you look at the last 30 minutes in large-cap stocks, a lot of buying and selling was happening. Huge volumes were being traded as positions were closed on the last Thursday of the month.

15,300 resistance was broken as the market closed near the day-high. The strong close indicates that bullishness could continue tomorrow. A fresh start in June’s monthly series tomorrow, let us see how the market goes.

With two more trading day left in May, what do you think? Will Nifty conquer its all-time highs tomorrow? Or will it face resistance in this zone? Let me know in the comments of marketfeed app.

And yes, the GDP Data for Q4 is coming out on Monday the 31st of May! That is the next significant event in the market with most reports predicting a 1-2% GDP growth rate compared as the economy re-opened.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty keeps moving up, nearing all-time high levels with each trading day.

Nifty opened the day at 15,258 and tried to move down. But the index took support before reaching yesterday’s low and started moving back up. With a splendid move from Infosys, Nifty kept moving up even as Banks remained weak. The zone just above 15,300 was a sharp resistance zone and Nifty closed at 15,301, up 93 points or 0.61%.

Bank Nifty opened at 34,765 and fell sharply taking Nifty down as well. But it went back up and consolidated through the day, and the index traded between yesterday’s high and low. Bank Nifty closed flat at 34,684, up 22 points or 0.06%.

Nifty Metal(-1.86%) again fell in the day. Nifty Realty(+2.84%) was the best performing sectoral index followed by Nifty Media(+1.87%) and Nifty IT(+1.76%). All other indices consolidated without giving even a 1% move.

Most Asian markets closed in the green, signalling the gap-up for Nifty today as well. European markets are trading flat.

News Picks

Bajaj Finance(+2.7%) and Bajaj Finserv(+4.6%) closed as Nifty 50’s top-gainers of the day. They were consolidating all through last month as other financial stocks went up.

Expecting a good monsoon season ahead, fertilizer and chemical stocks gained some momentum. UPL and NFL closed 2% and 3.2% up respectively. RCF, ChambalFert, FACT moved 1%.

IT stocks were bullish throughout the day. Infosys(+2.6%), Wipro(+1.87%) and TechM(+1.53%), TCS(1.4%) performed well, giving some movements to Nifty 50.

A Subject Expert Committee (SEC) suggests Emergency Use Authorisation (EUA) for Remdesivir tablets by Jubilant Life Sciences. The stock closed 6% up in the day.

Wockhardt Pharma approaches Govt, asks for help in tying up with COVID vaccine makers. The company said there are 3 facilities that can be repurposed for vaccine manufacturing. The stock gained over 8.5% in the day.

Happiest Minds signs a strategic partnership with IT solutions co Yotta Infra. The stock closed 4.3% up.

V-Guard reported a Q4 net profit posted of Rs 67.8 crores, up 110% YoY, and a fall of 12% compared to last quarter. The stock closed 4.8% up in the day. 

Berger Paints saw sharp buying near the end and closed 1.6% up after reporting Q4 profit numbers. Net profit stands at Rs 211 crores, down 23% compared to last quarter but much above estimates. 

Interestingly, Shalimar Paints is up 10.8% and even Asian Paints is up 0.88%.

Manappuram Finance fell from the day high and closed 0.5% up after reporting an 18% YoY increase in Q4 consolidated net profit at Rs 468 crores. The results were below estimates.

HDFC said it will raise up to Rs 7,000 crore by issuing bonds on a private placement basis. The stock is up by 1.46%

Realty stocks gained in the day lead by DLF(+4.5%) and Indiabulls Real Estate(+8%). Also, IndiaBulls Housing Finance gained 4.5% in the day.

Metals stocks are still in the red side. Jindal Steel(-4.3%), Sail(-4.2%), JSW Steel(-2.6%), Hindalco(-2.6%), NMDC(-2.5%), Tata Steel(-2%) Coal India(-1.1%) are the major losers.

Mahanagar Gas gained 4.5% on better than expected Q4 earnings reported yesterday.

Markets Ahead

Today’s most interesting moves came from the Bajaj Twins which have been consolidating till now in May. While all other financial stocks went up sharply, these two had been consolidating and gave a beautiful breakout in the day. Can watch them for further movements.

We had discussed expecting a move from fertiliser stocks including UPL on last Friday. Anyone who entered then could have exited with some handsome profits by today. Also, include some good stocks from the sector in your long-term portfolio as well. 

Infosys is all set for more moves and is such a stock that has never disappointed investors. Along with TCS, it gave nearly 40 points to Nifty’s 90 point move today.

If you remember, the day all-time high was hit by Nifty was a red candle in the daily charts. And today’s resistance zone was near the closing level of that candle of 16th May. It is Nifty’s best close since 15th May.

But interestingly, heavyweight stocks including HDFC Bank, HDFC, and Reliance are far from their 52-week highs. So more rally from these stocks could indeed take Nifty up till the all-time high levels.

15,300 resistance we discussed yesterday was very strong in the day. But Nifty has closed above this level indicating bullishness. If global markets do remain positive, we might see Nifty reaching the all-time high zones this week itself. 15,200 and 15,100 will act as good supports for this week and 15,000 will act as a good support going into next month.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Once again a day of consolidation in the market, but with a bearish bias.

Nifty opened the day at 15,293 with a 100-point gap-up. But this level was not sustained, and the index fell slowly from there the whole day/ Between 10 am and 1 pm, Nifty consolidated in a 50-point zone but soon saw a fall. After the huge volatility, Nifty gained back to close the day at 15,208, up 10 points or 0.07%.

Bank Nifty opened at 35,124 and fell sharply. HDFC Bank was pulling the index down the whole day and by afternoon others joined in. Even with the fall, the index managed to close above yesterday’s low of 34,500. Bank Nifty fell to close at 34,662, down 281 points or 0.81%.

Nifty PSU Bank(-1.3%) fell the most today. Nifty Media(+3.17%) was the best performing sectoral index. All other indices consolidated without giving even a 1% move.

All Asian markets closed in the green, signalling the gap-up for Nifty today. Meanwhile, European markets are trading flat.

News Picks

Asian Paints broke out above its all-time high and closed 3.3% up as Nifty’s top-gainer. The stock has gained 14% after announcing its results on May 12.

Auto stocks including Eicher Motors(+2.89%) and TVS Motors(+2%) were mostly up in the day as metal prices(which are an important raw material) cooled down throughout the world. Analytics firm Jefferies also expects the decline in Covid-19 cases indicates to a revival in economic activity.

PVR(+3.43%) and Inox(+2.5%) closed with gains in the day. EIHotel(+3.21%) and Indian Hotels(+3.3%) also gained in expectation of lockdowns ending soon.

Also, there were reports that India is planning a stimulus package to support economic growth. The proposal is mainly to boost the aviation, tourism and hospitality industries.

Indigo(2.5%) and SpiceJet(+1%) closed in the green with gains.

Amaraja Batteries(-6.32%) opened with a big gap-down and fell 2% further. The stock fell after car battery maker Clarios announced that it would sell 1.71 crore shares or a 10% stake in the company by a block deal.

Financial stocks which gained sharply last week saw profit booking. HDFC Bank(-2.05%) was followed by Axis Bank(-1.3%) in Nifty 50. CholaFin(-4.3%) and M&MFin(-3.5%) saw a good fall in the day.

LTI launched an operational technology transformation solution with American Software company – ServiceNow. The stock moved to close 1.1% up.

BPCL may sell some stake in IGL & Petronet LNG to shed promoter status. Both IGL and Petronet shares saw a sharp fall from their day-highs.

TTK Prestige reported an 895% YoY increase in net profit for Q4 to Rs 85.4 crores. A 2% increase in net profits was seen compared to last quarter. The stock closed 14% up.

Alkem Lab reported Q4 net profit as Rs 240 crores, down 46% compared to last quarter. The negative result impact was huge and the stock fell to close 3% down.

Colgate Palmolive(ColPal) gains 5% to hit record high following an upgrade by UBS.

CONCOR continues the gaining momentum following Land Licensing Fee resolution. Closed 5.3% up.

Ramco Cements Ltd reported a 51.08% YoY increase in consolidated net profit to Rs 216.16 crore for the quarter ended March (Q4).  Stock is down by 2.7%

Balaji Amines Ltd reported a 174.17% YoY jump in consolidated net profit to Rs 84.50 crore for the quarter ended March (Q4). Stock is down by 3.4%

Markets Ahead

Sputnik Lite, the vaccine which needs only a single shot, is undergoing 3rd phase of clinical trials and will be produced in India. Also, Pfizer said they are in discussions with the Indian Govt for supplies of the Covid-19 vaccine. A bit hard to understand how even after more than a month of lockdown in multiple states, the vaccine shortage is nowhere near over.

Only 3% of India’s population is fully vaccinated, whereas in the USA is at 40%.

Markets have already factored all this in and look like Nifty is setting the stage for more rally. Even the intraday fall was gained back and Nifty managed to close above 15,200. This is a good sign for the market.

15,300 is developing as a good resistance for the week. And the markets are expected to close in and around the 15,200 mark for this Thursday. 

What we saw today was majorly a fall from those stocks which have outperformed last week. I feel that the bullishness still continues for the medium term as long as 14,900 support is respected.

A higher vaccination rate along with re-opening of the economy will push Nifty further up in the coming weeks. Can keep a watch on Pfizer stock for more rally, it is seeing some accumulation around in the current zone.

Catch you all on The Stock Market Show tonight!