Tag: marketfeed

Today’s Market Summarised

Markets continue to see profit booking, with mid-cap and small-cap selling continuing.

Nifty opened the day at 16,402 with a big gap down and tried to move up. The level of 16,510 was taken as resistance more than once in the day but could not be broken. With some last-minute selling, Nifty ended the day at 16,450, down 118 points or 0.71%.

Bank Nifty opened at 35,200 with a 250 points gap-down. The index was more weak than Nifty, and could not move up above 36,100 in the afternoon. The index kept playing around the 35k mark and Bank Nifty closed the day at 35,033, down 520 points or 1.46%.

All sectoral indices except Nifty FMCG closed in deep reds. Nifty Metal, Nifty Realty, Nifty PSU Bank and Nifty Auto were the worst-performing sectors.

Asian markets closed mixed in the day. All the European markets are currently trading slightly in the red.

News Picks

FMCG stocks performed well in the day with Hindustan Unilever(+5.3%), Britannia(+4.7%), Nestle India(+3.4%) and Tata Consumer(+0.7%) closing in the top-gainers list of Nifty 50. 

Metal stocks in Nifty and even around the world crashed as prices of Iron Ore Futures fell. Nifty’s top-losers were mostly from the sector with Tata Steel(-8.3%), JSW Steel(7.1%) and Hindalco(-5.4%) in the red.

All Nifty Metal stocks closed in the red with NMDC(-9.5%), Vedanta(-9%), Jindal Steel(-7.6%) and SAIL(-7.3%) closing in the most red.

UPL(-4.4%) fell sharply and is down more than 12% in the last month.

MindTree(+4.6%) continued its rally while most other IT stocks closed in the red. Interestingly, Nifty IT was down only 0.3% showing that there was strength in the market.

CarTrade IPO opened 1% below its issue price, and fell further. The stock closed at 1501, down 7.2%.

Tata Motors(-3.4%) moved down after Land Rover recalled more than 1 lakh Range Rover Sports and LR4S over fire risk. Ashok Leyland(-4.9%) also moved down while Maruti stayed flat.

Auto ancillary stocks including BharatForge(-6.2%), MotherSumi(-5.1%) and Bosch(-2.1%) came under profit-booking after research firm IHS Markit predicted a sharp fall in cars output worldwide.

Ujjivan Small Finance Bank(-18%) fell to deep red after the company’ MD & CEO Nithin Chugh resigned. Parent company Ujjivan(-12.2%) also saw huge selling.

Markets Ahead

We had noted on Tuesday that the market is being cautious after hitting fresh all-time highs. We noted that the FMCG and IT stocks were outperforming, with smart money pouring into these defensive sectors.

Once again to repeat, Defensive stocks are shares of those companies that have continual demand for their products despite market conditions.  Usually, there is a demand in these stocks when markets turn cautious or investors feel they are overvalued.

We saw this trend continue on Wednesday and today as well. There is a shifting of money from stocks that have already rallied to FMCG and IT. We even saw Hindustan Unilever touching Rs 6 lakh crore market cap in the day.

FMCG stocks are a must-have in your long-term portfolio and will give you good returns in the longer term. We also saw other “safe stocks” like HDFC Bank(up 2% from day-open) and Bajaj Finance(up 2.% from day open) moving up despite a bearish market.

Smallcaps and midcaps also saw profit booking which saw the index being pulled down.

Sometimes these slow and safe bets are the way to go. Especially when markets are cooling down like they are now!

How did the 4-day week go for you? Is your current holdings mostly filled with largecap or midcap stocks? Let us know in the comments of the marketfeed app.

Catch you all at The Stock Market Show sharp at 6:30 PM!

Today’s Market Summarised

Nifty fell sharply in the day after opening with a huge gap-up.

Nifty after opening with a gap up started to rise and hit a fresh all time high at 16,701. The move was majorly powered by Reliance and INFY. Nifty tried to break 16,700 multiple times, but started falling slowly and continuously. The NSE index opened 77 points up, majorly contributed by 2.7% gap up opening of HDFC Bank. Nifty moved down till 16,535 and closed at 16,568, 45 pts or 0.28% down.

Bank Nifty opened above 36,200 with a gap up of 0.99%. But just after the opening, major banking stocks started to move down, taking Bank Nifty to the day low at 35,432. It managed to close above 35,500 at 35,554, down by 312 pts or 0.87%.

Nifty IT showed some bullishness in the initial stage, but closed flat.

Asian markets closed in the green with China and Taiwan indices gaining nearly 1% up. All the major European markets are currently trading in small red.

News Picks

Eicher Motors(+2.9%) closed as the Nifty 50’s top gainer.

Three stocks from Bajaj family, Bajaj Finance(+2%), Bajaj Finserv(+1.8%), Bajaj Auto(+0.67%) also topped in the list.

FMCG stocks continued yesterday’s up movement with Tata Consumer(+1%), Nestle(+0.95%), Britannia(+0.66%) closing as Nifty 50 gainers. Other FMCG stocks including UBL(+6.2%). MCDOWELL(+9.7%), Jubilant Food(+3.8%) also closed in the green.

Cement stocks like UltraTech(+2.6%), Ambuja Cements(+1.9%), Ramco Cements(+1.5%), ACC(+2%) India Cement(+1.5%) ended the day in the green. Grasim also moved 1.3% up.

HDFC Bank opened with a gap up of 2.7% after RBI gave permission to issue credit cards. But after the profit booking the stock closed flat. Other banking stocks, Kotak Bank(-2.1%), ICICI Bank(-1.8%), IndusInd Bank(-1%) also closed in the red.

Major metal stocks WelCorp(-3.8%), NATIONALUM(-2.5%), VEDL(-2.3%), Hindalco(+2.2%), Jindal Steel(-1.6%), SAIL(-1.2%), closed in the red.

IDEA(+12.1%) is in discussion with bond holders to refinance over Rs 6,000 crores of debt that is due in the next four-six months. Indus Tower(+1.8%) and IDFC First Bank(+1.1%) also moved up after the news.

HAL(+4.9%) moved up after it placed an order of Rs 5,375 crore for 99 F404-GE-IN20 engines and support services with GE Aviation, USA to power the Tejas Light Combat Aircraft.

Canara Bank(+2.9%) has opened its QIP to raise up to Rs 2,500 crore and set the floor price of the issue at Rs 155.58 per equity share.

Apollo Hospital(-2.6%) witnessed profit booking after yesterday’s rally.

BHEL(+3.2%) moved up after it invited bids for multi-crystalline solar modules for a 6.5 MW rooftop solar project.

IRCTC(+1.8%) is considering revamping the private train tender process to attract more bids.

Markets Ahead

Markets opened with a gap up with the power of HDFC Bank. But the strength could not be continued and we saw general profit booking.

After the huge contribution by HDFC Bank in the morning, at the end only Reliance was the heavyweight keeping Nifty up.

With today being the weekly expiry, volatility was expected and that is exactly what we got.

Tomorrow is a holiday on behalf of Muharram, and it could be the right opportunity for us to take a moment and relax. But don’t forget to study some stocks and identify some charts too!

How did the weekly expiry go for you? Did you get a chance to catch the fall in Bank Nifty? Let us know in the comments of the marketfeed app.

Catch you all at The Stock Market Show sharp at 6:30 PM!

Today’s Market Summarised

Nifty hits an all-time high for the 4th day in a row, and closes with strength.

Nifty opened the day at 16,547 saw volatile consolidation for many hours. The index was trading in a 100 point range for most of the day where resistance was taken at yesterday’s high and support at 16,500. Towards the end, the market moved up and ended at fresh levels. Nifty ended the day at 16,614, up 52 points or 0.31%.

Bank Nifty opened the day at 35,986 and was bearish. The index fell 400 points by noon from the opening level but managed to recover by the end. Bank Nifty closed the day at 35,867, down 227 points or 0.63%.

Nifty IT once again shot up followed by Nifty FMCG. Metals and PSU Bank indices moved down sharply in the day.

Most Asian and European markets once again traded in red for the day.

News Picks

Defensive stocks like FMCG and IT moved up in the day. Tata Consumer(+3.8%), Nestle(+2.3%) and Hindustan Unilever(+2.3%) closed as Nifty 50’s top-gainers.

Other stocks from the sector including Jubilant Food(+3.6%), Emami Ltd(+3.6%), VBL(+2.2%) also closed in the green.

Wipro(+3.4%), TechM(+3.3%), TCS(+2.3%), Infy(+2.1%) and HCLTech(+1.7%) closed in the top-gainers section from IT stocks. Other IT stocks Tata Elxsi(+7%), LTI(+3.8%), MindTree(+3.8%) and Mphasis(+3.4%) also closed in the green.

Metal stocks were weak the day after yesterday’s rally. JSW Steel(-2.2%), Coal India(-1.9%) moved were among the top-losers. Vedanta(-9.9%), Welcorp(-4.5%), Hind Zinc(-3.9%), Jindal Steel(-3.5%), SAIL(-3.3%) and National Aluminium(-3%) also moved down in the day.

Vedanta(-9.9%) crashed down to the lower circuit after Madras HC sent a notice regarding contaminated sites within its Tuticorin plant.

Healthcare stocks Apollo Hospital(+13.2%), Fortis(+2.6%), Max Health(+6.7%), AsterDM(+7.9%) traded in the green.

Idea(-3.3%) fell in the day, continuing its bearishness. Airtel(-1.2%) also moved down.

ARVIND FASHION(+4.7%) is planning for fundraising through equity shares on August.

Markets Ahead

Defensive stocks in the market were the ones performing today. Those shares of companies have continual demand for their products despite market conditions. 

Usually, there is a demand in these stocks when markets turn cautious or investors feel they are overvalued.

Infosys rally is the one that surprised me and many other investors. The stock has touched a fresh 52-week high and many are expecting it to cool down soon. Nifty IT has been at fresh highs for many days in a row.

The Afghan issue is still evolving and is currently keenly being watched by investors. Any provocation towards India would create a knee-jerk reaction in the Indian stock markets.

Catch you all at The Stock Market Show sharp at 6:30 PM!

Today’s Market Summarised

Nifty once again hits a fresh all-time high with a small green candle in the 1-day charts.

Nifty opened the day at 16,520 and had a volatile first two hours. After moving back up and crossing the opening level, it was many hours with consolidation. Nifty created a fresh all-time high at 16,589 and then it was clear profit booking as the index couldn’t form even a single 5-min green candle. Nifty closed the day at 16,563, up 34 points or 0.21%.

Bank Nifty opened the day flat at 36,115 and was moving sideways. The index was in a mood of heavy consolidation through the day and closed near the day-low. Bank Nifty closed the day at 36,094, down 75 points or 0.21%.

Just Nifty Metal moved up with strength. Nifty Media and Nifty PSU Bank closed in the red, while all other sectors were mostly consolidating. 

Most Asian and European markets traded in red for the day.

News Picks

High demand and high prices pushed Tata Steel(+3.9% – 52 week high) to Nifty’s top-gainers, after announcing really good quarterly results. JSW Steel(+1.6%), HindZinc(+3.1%), Vedanta(+2.3%), Jindal Steel(+1.4%) also moved up.

Reliance(+1.3%) jumped up after reports that the company and Saudi Aramco are in ‘advanced talks on a big deal’. 

Bajaj Finance(+3.5%) and Finserv(+1.6%) closed in Nifty’s top gainers. HDFC also gained 1%.

M&M(+2.6%) moved up after announcing the all-new XUV-700 with aggressive features and pricing. It was the only stock from Nifty Auto in green.

Maruti(-2.5%) fell after announcing that the upcoming emission norms will impact sales. Bajaj-Auto(-2%), Eicher Motors(-2%) and Tata Motors(-1.1%) also closed in the red.

Apollo Hospitals(+6.9%) shares jumped in the day after announcing strong results for Q1. Fortis(+8.9%) also jumped after its results.

Vodafone Idea closed 5.5% down following weak Q1 results. IDFC First Bank(-1.4%), which has a loan exposure to Idea fell.

Pizza hut and KFC franchisee Devyani listed with a 56% premium at Rs 140.9 vs an issue price of Rs 90. The stock closed at Rs 123.50, up 33%.

SBI(-1.4%) fell after announcing interest concessions on gold loans and waiver of processing fees on car, gold and personal loans.

Gravita India(+12.7%) said it has increased the capacity of its existing recycling unit situated at Chittoor, Andhra Pradesh.

Markets Ahead

Global markets have gone into consolidation after their terrific rally. Indian markets continued their bullish trend with a green candle after Reliance and HDFC moved up.

Reliance alone contributed 17 points to Nifty’s 34 point green candle today. We had discussed in our Week Ahead article that it was now time for Reliance to move back up. The stock is trying to break a trendline in its 1-day charts.

Mahindra was bullish after the new car launch. The stock can be watched for more up moves if sustaining above 800-805 levels.

One concerning fact is that Maharashtra CM Uddhav Thackeray said that lockdown will be re-imposed. if Covid cases rise in the state. I don’t think that the economy can handle a third lockdown in its current situation.

Funds continue to flow into largecaps, while midcaps consolidate. Watching out for a big move in Bank Nifty after today’s heavy consolidation. 

Also, keep a watch on how the Afghan situation evolves, and if there is any threat to our country. Markets may crash if such a situation arises, otherwise won’t be affected as seen today.

Catch you all at The Stock Market Show sharp at 6:30 PM!

Today’s Market Summarised

Nifty rallying up the day after the weekly expiry to fresh highs, as investors cheer on.

Nifty opened the day at all-time highs of 16,391 with a small gap-up and was bullish. First, 16,450 was taken as resistance then 16,500. Nifty surprised market participants and moved ahead to fresh highs. At market close, Nifty ended the day at 16,529, up 165 points or 1.01%.

Bank Nifty opened the day at 36,034 and was not bullish like Nifty. The index consolidated through the day, and tried to move up and cross 36,200 near the end. This was not sustained and Bank Nifty closed the day at 36,169, up 121 points or 0.65%.

Nifty IT(+1.82%) once again showed the most strength and closed higher. Nifty Realty and Nifty Media moved down.

Most Asian markets closed in the red. European markets are all trading in the green.

News Picks

Tata stocks stayed in bright green with Tata Consumer(+4.2%) and TCS(+3.3%) closing as Nifty 50’s top-gainers. Both stocks hit fresh 52-week highs in the day.

Tata Steel(+1.8%) also gained in the day after posting their results yesterday.

HCLTech(+2%) and Wipro(+1.5%) joined TCS(+3.3%) in the top-gainers list. Infy(+1.3%) also closed with good gains.

Reliance(+1.6%) is breaking out with good volumes and gave a good boost to Nifty in the day.

Eicher Motors(-2.6%) closed as top-loser for the second day, after posting their results yesterday. Other Nifty Auto stocks including Ashok Leyland(-2.4%) and Mothersumi(-1%) closed in the red.

Ashok Leyland gained back from its morning fall after PM Narendra Modi tweeted the launch of the Vehicle Scrappage Policy today is a significant milestone in India’s development journey as it will remove unfit and polluting vehicles. 

Auropharma(-7.8%) shares fell heavily after the Q1 results of the company failed to impress investors. 

Other pharma stocks moved up with Wockhardt Pharma(+4.7%) entering into an agreement with Enso Healthcare. It is a company in Dubai for the manufacture and supply of the Sputnik V / Sputnik Light vaccine.

Cadila(+2.6%) received final approval from USFDA for Mesalamine extended-release capsules, used to treat a condition that causes swelling and sores in the lining of the large intestine and rectum.

L&T(+2.7%) moved up after winning an order for Titanium-Clad Oxidation Reactor from Technip Energies.

Bharti Airtel(+2.2%) moved up after receiving Rs 1,000 crores from Jio for spectrum.

Gujarat Fluorochem closed higher by 2.3% after posting Q1 consolidated net profit at Rs 154 crores, up 20% from last quarter.

Star Cement(+6.7%) approved buyback at Rs 150/share. The current market price of the stock is Rs 115.

Puravankara(+9.9%) rallied after posting Q1 net profit of Rs 154 crores more than doubling profit Rs 87.5 crores from last quarter.

Markets Ahead

Nifty broke out in the day and touched 16,500. Midcaps and smallcaps moved down after funds of Foreign Institutional Investors(FIIs) moved in to the big stocks.

TCS and Infosys hitting fresh all-time high market capitalisations have shown that investors still have faith in the Indian IT and tech space. A lot more is expected from the sector in the long-run. Nifty IT has moved up more than 4% this week.

Nifty Pharma lost strength once again and moved down more than 3% in the week.

Two major things happened yesterday; a government report showed retail inflation for July increased at the slowest pace since May and also the Finance Minister Nirmala Sitharaman again said that central banks’ will be prioritising growth of the economy.

Results season in Nifty 50 is coming to an end with mixed reactions. In this quarter, 47 out of 50 companies have already posted results. Only 18 out of them have beaten analysts expectations.

Still, with the economy unlocking after the second wave of Covid-19 and support from central banks continuing, the markets are moving to fresh highs.

How did this week go for you? How is your portfolio looking in a week where Nifty 50 once again hit fresh all-time highs? Let us know in the comments of the marketfeed app.

Catch you all at The Stock Market Show sharp at 6:30 PM!

Today’s Market Summarised

Nifty closes the day at fresh levels after making new all-time highs.

Nifty opened the day at 16,318 with a small gap-up and moved with volatility. From the day-low to day-high, the index moved just under 90 points. After touching a new all-time high in the day, Nifty closed at 16,364, up 82 points or 0.50%.

Bank Nifty opened at 35,900 and mostly consolidated in the day. After falling 200 point in the first 15 minutes, the index reached almost the 36k mark by market close. Bank Nifty closed the day at 35,937, up 131 points or 0.36%.

Most sectoral indices closed flat with Nifty Media(+2.28%), Nifty IT(+1.82%) and Nifty Realty(+1.21%) moving up. Pharma stocks looked weak with the index down 1.1%.

Most Asian markets closed with consolidation. European markets were also flat with mostly consolidation.

News Picks

PowerGrid(+6.04%) moved up today after the company approved a proposal to infuse fresh equity of up to Rs 425 crore in the JV company.

TechM(+4.76%) continued bullishness and moved up along with HCLTech(+2.76%) to close in the top-gainers list. Other IT stocks including OFSS(+5.03%(+), MindTree(+4.32%), Mphasis(+3.42%) and Coforge(+3.33%). All stocks in the IT index closed in the green.

Eicher Motors(-3.74%) closed as Nifty 50’s worst-performing stock ahead of announcing its results. It is the only stock to have moved more than 1% down in the index.

Bharat Forge(+6.6%) reported Rs 153.65 crore in Q1 against a net loss of Rs 125.81 crore last year. The stock gained more than 5.7% in the day.

VIP Industries moved up 20% in the day as management and analysts turned positive after their Q1 results. 

Lupin shares fell more than 7% after its results. Other Pharma stocks including AuroPharma(-3.54%) and CadilaHC(-3.50%) moved down.

Hotel stocks including Westlife Development(+4.85%), Specialty Restaurant(+6.82%), Barbeque Nation(+1.1%) moved up after Maharashtra announced further unlock measures. Restaurants will now be allowed to operate till 10 PM.

Markets Ahead

Markets touched fresh all-time highs on the back of bullishness in L&T, ICICI Bank and IT stocks. Infosys touched fresh 52-week highs as the stock nearly touched 1,700 levels.

Midcaps and smallcaps moved up after yesterday’s fall. 

After FIIs and DIIs turned net buyers yesterday, there was a certain bullishness when the market opened today. This was seen in the midcap index along with Nifty touching all-time highs.

Yesterday, even the U.S markets were at all-time highs yesterday. Nifty has closed with a strong candle in the daily charts, but still, the week is expected to show consolidation.

HDFC Bank and Kotak Bank will have to be watched for bullishness in the coming days. The stocks along with the bullish close in Bank Nifty near 36,000 shows that there is some power in these stocks.

Catch you all at The Stock Market Show sharp at 6:30 PM!

Today’s Market Summarised

Once again a day of consolidation with the markets dancing around after BSE announcements on smallcaps.

Nifty opened the day at 16,327 with a small gap-up, and was very weak. The index kept on falling until it took support at Monday’s low near 16,150. Nifty recovered sharply and ended the day at 16,282, up 2 points or 0.02%.

Bank Nifty was a bit more weak in the day after opening at 36,218 with a gap-up. In the morning fall, Bank Nifty fell more than 700 points to nearly the 35,500 range. However, a V-shaped recovery was not seen and Bank Nifty closed at 35,806, down 227 points or 0.63%.

Most sectoral indices closed in the red but Nifty Metal shot up(+3.14%). Nifty Pharma moved down 1.46%.

Most Asian markets closed flat in the day. European markets are all trading in the green with slight gains.

News Picks

Metal stocks shot up on the day with Tata Steel(+3.8%), JSW Steel(+3.7%) and Hindalco(+2.2%) closing among the top-gainers of Nifty 50.

Other metal stocks including SAIL(+5.8%), Vedanta(+6.4%), Jindal Steel(+5.2%) and National Aluminium(+5.1%) also bounced back after 2-days of fall.

Commodity stocks including metal and even energy stocks. IOC(+2.3%), NTPC(+2.2%), Coal India(+1.2%), BPCL(+1.1%) and ONGC(+1.8%) closed in the green. 

Powergrid(+2.1%) moved up after posting a nearly three-fold jump in consolidated net profit at Rs 5,998.28 crore in the June quarter.

Shree Cement(-2.1%) continued its fall after Q1 results.

Radico Khaitan(+6%) plans to introduce super-premium Whisky and Vodka to strengthen its portfolio. 

Zomato(+8.3%) shot up even after posting higher losses. Net revenue of the company more than tripled in the quarter compared to last year.

MTNL(+1.85%) moved up after getting permission to conduct 5G trials.

RBL BANK(+2.8%) has been selected by the RBI as an ‘Agency Bank’ to conduct banking business for the Central and State Governments.

Siemens closed 6.3% up after posting results yesterday.

Kitex hit 10% Upper Circuit after more than doubling Q1 consolidated net profit to Rs 20.5 crores from last quarter.

Markets Ahead

Midcaps and smallcaps crashed in the morning while Nifty was consolidating. And by crashing, I mean the indexes were 2-3% down. The factor attributed was BSE planning to introduce newer upper circuit limitations on these stocks with small market capitalisations.

This turned out mostly to be panic selling as stocks and indices gained back sharply after clarification from the stock exchange.

Nifty moving back above 16,210 and almost reaching back to 16,300 showed a bullish close in the market. Bank Nifty fought away bears after closing above the 35,700 zone. 

Markets have so far shown consolidation with heavy volatility intraday. Expecting the same to continue and Nifty to consolidate for a few more weeks.

After that, FIIs are likely to give a direction for the market for the upcoming days. Reliance also closed with strength above 2,100 and can be watched for a movement.

Catch you all at The Stock Market Show sharp at 6:30 PM!

Today’s Market Summarised

Nifty consolidates in the morning, with a sharp intraday fall and a v-shaped recovery.

Nifty opened the day at 16,282 and slowly moved up to hit fresh all-time highs at around 16,360. After noon, the index started showing weakness and sharply fell after 1:45 PM. A fall of 120 points was seen in just 15 minutes. By closing, a v-shaped recovery was seen and Nifty closed the day at 16,280, up 21 points or 0.13%.

Bank Nifty opened the day flat at 36,036 and was bullish. The index jumped nearly 300 points in the first 30 minutes, but then got weak. The index also fell sharply after noon, and then tried to recover back. Bank Nifty closed flat at 36,034, up 5 points or 0.01%.

Most sectoral indices closed in the red with just Nifty IT (+0.87%). Nifty Metal, Nifty Media and Nifty Realty fell more than 2% each in the day.

Most Asian markets closed mixed in the day. European markets are all trading flat and mixed as of our market close.

News Picks

Multiple IT stocks closed in the Nifty 50 top-gainers as other sectors moved down. TechM (+2.7%), HCLTech (+1.2%), Wipro (+1.1%) and Infy (+0.8%) closed in the list.

Shree Cement closed 4% down after reporting results yesterday.

Metals fell on the day JSW Steel (-3.3%), Tata Steel (-2.7%) closed in the top-losers segment with a fall in commodity prices around the world. SAIL (-5.1%), National Aluminum (-5.3%), Jindal Steel (-4.2%) also fell sharply.

Tractor manufacturers Escorts (+6.3%) and M&M (+1.4%) moved up in the day even while other stocks from the auto sector mostly closed in the red.

Shares of Kerala based Kalyan Jewellers (-1.2%) fell after the company announced poor results of net loss Rs 51.3 crores in the quarter.

Reliance Industries (+0.5%) is reportedly going to bid Rs 43,885 crores for T-Mobile Netherlands. The stock stayed in the green mostly despite Nifty’s fall.

Motherson Sumi (-3.3%) shares remained weak after the company reported Q1 consolidated net profit at Rs 290 crore against a profit of Rs 700 crores last quarter. The company’s net debt increased to Rs 6,158 crores from Rs 4,807 crores last quarter.

Max Healthcare (+5.5%) moved up after reporting Q1 consolidated net profit of Rs 147 crores, more than double from last quarter.

Manappuram Finance (-4.6%) moved down after reporting a Q1 standalone net profit of Rs 425 crores, down nearly 10% from last quarter. 

CAMS (-1.4%) fell more than 10% intraday but gained back after reporting Q1 consolidated net profit Rs 63.2 crores, down 5% from the last quarter.

Markets Ahead

Markets were moving very calmly in the morning, even with Nifty testing all-time highs. Midcaps and smallcaps continued to stay under pressure.

This was the situation until the market suddenly started falling after noon. I am sure many would have been trapped in the V-shaped recovery in the intraday market.

It was like FIIs started heavily selling when the European markets also fell and DIIs supported the market from further fall. HDFC Bank, HDFC and Reliance also kept the market from falling more heavily.

Midcap and smallcap stocks in your portfolio might be moving down, as they see some profit booking. Even with the volatility, Nifty crossed the level of 16,300 and moved up in the morning. 

Let us see if the intraday volatility continues in the coming days. Nifty and Bank Nifty are still not showing any bearish, just consolidation. Looking forward to more days of calm movements!

Catch you all at The Stock Market Show sharp at 6:30 PM!

Today’s Market Summarised

Nifty dances around and closes the first day of the week with net consolidation. 

Nifty opened the day at 16,275 with a small gap-up and tried to move up. However, it could not break the level of 16,320 and from 10 AM to 2 PM fell very slowly to fresh day-lows. By closing, Nifty recovered and closed the day at 16,258, up 20 points or 0.12%.

Bank Nifty opened the day flat at 35,836 and made a very volatile first candle. The index quickly turned into bullish moved up breaking Friday’s high. But just like Nifty, the index could not sustain and moved down. Bank Nifty recovered and closed the day at 36,029, up 220 points or 0.61%.

Most sectoral indices closed with consolidation in the day. Nifty Metal fell sharply by more than 1.87% after results from SAIL.

Those Asian markets which were open today, closed mixed in the day. European markets are all trading flat in the red as of our market close.

News Picks

M&M(+2.2%) gained and closed as Nifty 50’s top-gainer after reporting results on Friday. The management’s positive commentary on the tractor segment and the all-new XUV700 also gave confidence boost to investors.

IRCTC(+6.4%) closed with good gains after giving a good breakout last day. Mumbai local trains are also set to fully open for vaccinated passengers.

Piramal Enterprises(+5.5%) moved up on the day after reporting a 7.71% rise in its consolidated net profit to Rs 533.79 crore. The stock is at fresh-highs.

Theatre chains Inox(+2.8%) and PVR(+4.9%) gained after Mumbai reported they will re-open malls and theatres.

Metals stocks had a tough day of profit booking with National Aluminum(-12.1%) and SAIL(-4.8%) falling heavily after posting good results. Coal India(-1.9%), Hindalco(-1.6%) and JSW Steel(-1.3%) were featured in the Nifty’s top-losers list. 

Rolex Rings got listed at Rs 1,250/share against the issue price at Rs 900/share. The stock closed 38% higher from its IPO price at Rs 1,170.

Tyre-makers JK Tyres(-5.5%) and Balkrishna Industries(-4.3%) fell in the day. On the other side, MRF(+1.1%) moved up after its results. 

Venky’s(-7.9%) fell sharply after reporting Q1 standalone net profit of Rs 55.1 crores, down 29% from last quarter. Rs 77.9 crores last quarter.

Future Group stocks continued their crash after the Supreme Court stood against the Reliance takeover deal. Future Retail, Future Enterprises, Future Lifestyle, Future Supply Chain closed in the 10% Lower Circuit. Future Consumer(-8.2%) also moved down

Anti-virus company Quick Heal(-17.7%) fell sharply after announcing its results.

Markets Ahead

Markets consolidated in the day, with metals showing weakness.

Equity Mutual Funds showed increased inflows, jumping more than 3-times to Rs 22,584 crores in July. This is the reason for aggressive Domestic Institutional Investors(DIIs) buying last month and holding the markets up.

Retail investors are increasingly showing their power in the market, supporting the market. This time FIIs are also turning into net buyers in July, if the trend continues we may see the market move up towards 16,500 and more.

The fall in SAIL and National Aluminium did not affect other metal stocks that much. Can watch all metal stocks for a trendline breakout from this bearish phase.

Nifty is to be watched above 16,350 for a confirmation of bullishness. Reliance did not show any strength nor weakness today, after Friday’s fall.

Bank Nifty can be watched above the 36,200 mark, which may give more confirmation for bullishness. HDFC Bank has managed to close above 1,500 after July 16th. Next, the level of 1,520-1,524 will have to be watched.

Looking for a rebound in the midcap and smallcap index in the coming days too!

Catch you all at The Stock Market Show sharp at 6:30 PM!