Tag: marketfeed

Today’s Market Summarised

Nifty closes the bullish week with mostly consolidation.

Nifty opened the day at 16,307 flat and traded with volatility. Just after 10 AM, the index was pulled down by Reliance to near 16,220. Nifty managed to move back up and close the day at 16,238, down 56 points or 0.35%.

Bank Nifty opened the day at 35,889 and tried to cross 36,000 but could not sustain above that. The index saw some selling pressure at the day-high but overall saw consolidation. With last minute power in HDFC Bank, Bank Nifty closed at 35,809, down just 25 points or 0.07%.

Most sectoral indices closed with consolidation while Nifty Media and Nifty Realty fell nearly 1% each for the second day.

Asian markets closed mostly mixed but flat today. European markets are all trading flat in the green as of our market close.

News Picks

IndusInd Bank(+3.1%) moved back up and closed as Nifty 50’s top-gainer. The stock had been under pressure for high loan exposure to the struggling Vodafone Idea group. IDFC First Bank(+2.9%) and Yes Bank(+0.8%) also moved back up. 

After a dramatic week, Vodafone Idea(+19.3%) gained in the day with Govt brings in a new Act to remove the retrospective tax. This will be a relief for the Vodafone Group. The stock is still down 15% from Monday’s levels.

The Supreme Court today said Reliance cannot go ahead with the Rs 25,215 crore deal to buy Future Group’s retail assets. Reliance closed 2.1% down. 

Future Retail, Future Enterprises, Future Lifestyle, Future Supply Chain closed in the 10% Lower Circuit. Future Consumer(-8.2%) also moved down.

Adani stocks saw buying interest with Adani Ports(+2.4%) closing as top-gainer. Other stocks including Adani Ent(+7.8%), Adani Power(+5% UC), Adani Green(+2.3%), ATGL(+2%), Adani Transmission(+1.8%) closed in the green.

Cipla fell 3.61% and closed as top-loser after Q1 results failed to impress market participants.

Aditya Birla Sun Life AMC received SEBI’s final observations for its IPO. AB Capital(+7.3%), Birla Money(+7.9%) closed in the green.

Glenmark Life Sciences closed at Rs 748 on its first day in the market, up 3% from its issue price of Rs 720/share.

Tata Chemical(+7%) and GAIL(+4%) moved up after better-than-expected Q1. 

Tata Power(+0.45%) reported an 88% increase in Q1 consolidated net profit at Rs 391 crores from Rs 207 crores last year. The results came after the market hours and we can expect more movements in the coming days. 

Muthoot Finance posted a 15% rise in Q1 net profit at Rs 980 crores compared to Rs 850 crores last year. The stock closed 2.3% down. Manappuram(-2.2%) also moved down.

Markets Ahead

Nifty was in a proper mood to consolidate and close the Friday flat, but the court order against Reliance pulled the heavyweight down. Reliance alone pulled Nifty down by 33 points in today’s 50 point fall.

In the RBI Monetary Policy Committee announcement today, Shaktikanta Das kept the repo rates the same even with high prevailing inflation. This happened as expected.

The week has closed with Bank Nifty closing as the top-gainer by moving up 3.5%. Nifty 50 moved up more than 3.1%. Nifty IT and Nifty Auto gained more than 2% each. 

While mid and small-caps heavily underperformed, Nifty Media fell more than 4% this week. This was contributed by the fall in stocks like PVR and ZEEL.

A bullish week for the market closed with good strength. Nifty has paved its way for more rally with 16,050 as support. 16,400 and higher could be in reach. But let us hope that it goes up in a normal way so that there won’t be huge corrections/falls.

Reliance’s loss in the Future Retail deal was already discounted by the market. Let’s hope that the issue does not go into more complications and that Reliance can move back up freshly from here.

How did the first week of August go for you? Is your portfolio well in the green as Nifty hit 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

Volatility returning to the market with markets returning back to high intraday movements. 

Nifty opened the day with a gap-up at 16,293 and was falling. It took support near 16,200, exactly near yesterday’s support. Just after 12 PM, the index got more power and started moving up. Yesterday’s high was crossed and Nifty made a fresh all-time high but last hour saw profit booking. Nifty closed the day 16,294, up 36 points or 0.22%.

Bank Nifty opened the day at 36,115 and fell sharply till 35,650 in just more than 1 hour. The 500 point fall showed bearishness, but Bank Nifty quickly reversed from this low and shot back up to above 36,000 level. There was volatility near the end, and profit booking made Bank Nifty close at 35,834, down 193 points or 0.54%.

Most sectoral indices once again closed in the red with Nifty Media and Nifty Realty falling below 1%. Nifty Metal moved up.

Asian markets closed mostly mixed today. European markets are all trading in the green as of our market close.

News Picks

Bharti Airtel(+4.2%) moved up and closed as Nifty 50’s top gainer. Idea’s fall along with a breakout in the stock helped it shoot up. Subsidiary OneWeb also reportedly received a Satellite license from DoT India for a period of 20 years.

Reliance(+1.45%) also moved up and closed among Nifty 50 top-gainers.

Eicher Motors(+3.4%) moved up, one among the few auto stocks to close in the green.

ITC(+3.1%) moved up with good buying interest. Expecting continued bullishness in the stock in coming days looking at the buying action.

After Tata Steel BSL’s(+0.9%) strong results yesterday, metals found a bit of power. Tata Steel(+2.1%), JSW Steel(+2.1%), SAIL(+4%), National Aluminium(+3.4%), Jindal Steel(+2.2%) closed with power.

Banks and finance stocks saw profit booking after many days of bullishness. SBI(-3.3%), IndusInd Bank(-2.2%), Bajaj Finance(-1.7%), ICICI Bank(-1.7%) and Bajaj Finserv(-1.3%) closed as Nifty’s top-losers. 

On the other side, HDFC Bank(+1.3%) and Kotak Bank(+1.2%) closed in the green. These stocks are still far away from their 52-week highs unlike the above 5 stocks. 

IDEA fell more than 25% after Kumar Mangalam Birla stepped down as Chairman. Then it started to move up and closed just 0.8% down for the day. IndusTower(+3.8%) closed in the green. As per reports, UK’s Vodafone Plc has said that it would offer its stake to the lenders who are willing or to BSNL for free if they take over the company.

However, IDFC First Bank(-3.9%), IndusInd Bank(-2.2%) and Yes Bank(-1.9%) moved down on concerns of stressed loans given to Vi. 

Hind Petrol closed 2.6% down after reporting Q1 results last day.

CholaFin moved 4.4% up in the day after their results. The stock has moved up 13% in the last 5 trading days. Junior Aviation Minister also said Indian Airlines lost Rs 19,000 crores in FY21. 

Spicejet(-3.67%) has now defaulted on payments for four days. Indigo was also weak.

JK Paper(+6.9%), JK Tyre(+3%) and JK Lakshmi(+2.9%) moved up. Possibly buying from the promoter JK Organisation. 

Greaves Cotton(+2.9%) moved up after the proposal for the sale of the company’s land located at a village in old Mumbai for a total consideration of Rs 320 crores.

Markets Ahead

A weekly expiry in the right sense. Volatility is what we expect on Thursdays and that is exactly what we got.

Nifty’s bullishness was initially contributed by Bharti Airtel, which was up more than 6% intraday. After this, Reliance also shot up reaching more than a month highs possibly because of the same reason: Idea’s fall.

FIIs are back to aggressive buying in the last few days, reversing from their trend of selling in the equity markets. If we see a buying figure today as well, we can expect next week also to be bullish in the Indian equity market.

Nifty closed just below 16,300 and Bank Nifty below 36,000 even after the intraday spikes. These spikes and moves back down would have been amazing for scalpers in the day.

Airtel, Kotak Bank and ITC are showing some strength. These stocks need to be added to your watchlist to see if their strength continues.

The Monetary Policy Committee Meeting is happening now. Decisions will be out by tomorrow regarding the interest rates of the country. This would need to be watched as well.

How did this expiry go for you? The first expiry of the month has surely been interesting. Do you think Nifty will continue to move up or time to take a rest for the index? 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

Bulls continue to push the market up, with Banks outperforming after SBI results.

Nifty opened the day with a gap-up at 16,196 and was highly bullish.  Rallying up, the index found resistance first at 16,250 then found the day-high just below 16,300. From here power was lost and Nifty saw a bit of profit booking. 

Even when it tried to move back up, the index could not find strength. Nifty closed the day at 16,258, up 128 points or 0.79%.

Bank Nifty opened the day at 35,390 and shot up to 36,000 non-stop. After a small profit booking, results from SBI brought in new power to the index. 36,000 was broken this time easily and shot up further 200 points. Profit booking took the index down a bit and Bank Nifty closed at 36,028, up 820 points or 2.33%.

Financial stocks were the best performers in the market today. Bank Nifty, Nifty Finserv were the top-gaining sectors. Nifty Realty, Media and Auto fell while others consolidated in the red.

Asian markets closed mostly in the green today. European markets are all trading in the green as of our market close.

News Picks

HDFC’s(+4.75%) breakout rally continued with the stock closing as top-gainer in Nifty 50 once again. All 6 top-gainers were from the finance sector, with Axis Bank(+2%), Kotak Bank(+3.8%) and HDFC Bank(+2.1%) gaining back after July’s fall.

ICICI Bank(+3.5%) touched fresh 52-week highs along with SBI(+2.3%).

State Bank Of India reported Q1 standalone net profit of Rs 6,500 crores, up 1% from last quarter. Net Interest Income also rose less than 1% to Rs 65,554 crores. The bank shot up even after NPA rates increased, but results came above estimates. 

Grasim(-2.3%), Titan(-2.2%) and Tata Motors(-1.8%) saw profit booking and closed as top-losers after moving up in the last few days.  

Vodafone Idea once again crashed 19% to Rs 6, its lowest since June 2020. The stock is more than 50% down from its 52-week high made in January. Vodafone PLC said it has no plans to put in more funds to Vi. IndusTower(-6.9%) also crashed.

Along with this, banks that have given high loans to Idea remained weak. IDFC First Bank(-3.7%), PNB(-2.3%) and IndusInd Bank(-0.15%) closed in the red while Bank Nifty rallied. SBI was in the red in the morning, but went up after results were announced.

Competition Commission of India approves acquisition of the stake in PNB Housing by Carlyle Group. The stock closed in the 5% Upper Circuit.

Almost all auto stocks closed in the red with heavy selling pressure with concerns over chip shortage bringing down sales. Ashok Leyland(-4.2%), Bharat Forge(-2.6%), Tata Motors(-1.8%), Maruti(-1.3%) and M&M(-0.6%) fell in the day.

Maruti fell after reporting that its plant in Gujarat to have a partial production impact in August due to the semiconductor shortage.

Only Bosch India(+1.4%) closed in the green from Nifty Auto after announcing their results. Q1 consolidated net profit Rs 260 crores vs loss Rs 121 crores last year vs profit Rs 483 crores last quarter.    

Tata Steel BSL(+4.4%) moved up after reporting Q1 consolidated net profit Rs 2480 crores, up 25% from last quarter.

Markets Ahead

India’s July Services PMI came out at 45.4 vs 41.2 previous. The estimate was at 49. The general market saw heavy profit booking in the day. Banks were the ones mostly performing.

Nifty went on to touch nearly 16,300 today, as we expected yesterday. HDFC’s power continued and the stock gave Nifty a total of 50 out of 130 points today. 

SBI’s results did indeed shake up the market and pushed Bank Nifty to nearly 5-month highs above 36,200. The strong close above 36,000 also shows that there may be more to come.

Midcaps and smallcaps suffered the most with both falling heavily. Smart money by investors were flowing out of these stocks and into heavyweight stocks like HDFC. Nifty SmallCap100(-1%) and Nifty MidCap100(-1.1%) opened with a small gap-up and then it was pure profit booking till the end.

Going ahead, 16,000-16,050 will act as strong support for Nifty. For Bank Nifty, 35,200 will form as good support in the short term. Some profit booking can be expected tomorrow, with weekly expiry creating a lot of volatility in the market.

Also be sure to keep away from banks with high exposure to Idea, at least until there is clarity regarding the future of the company. This includes IDFC First Bank, Yes Bank, IndusInd Bank and more.

We talked about the setup looking bullish yesterday. It continues to look the same for next week, but I expect some profit booking tomorrow. We will also have to see how Nifty performs when today’s performers cool down, as most sectors saw heavy selling today.

How does your portfolio look now that Nifty has touched nearly 16,300? Is it in the green, or in the red? 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 crosses the 16,000 mark and closes at record highs on a highly bullish day.

Nifty opened the day with a small gap-up at 15,950 and tried to move down. But the downside was quickly covered, and soon Nifty was testing the 16,000 mark. Once this was broken, further consolidation was seen around 16,050. And just in the afternoon, the index saw heavy buying and shot up to higher highs. Nifty closed the day at 16,130, up 245 points or 1.55%.

Bank Nifty opened flat at 34,743 and did not show much strength like Nifty till noon. The index consolidated just below the 35k mark, and shot up just after 2 PM with power from SBI and other major banks.  Bank Nifty closed near the day’s high at 35,207, up 500 points or 1.43%.

Most sectoral indices closed with strength. Nifty FMCG(+1.73%), Nifty Finserv(+1.68%), Nifty Auto(+1.56%), Nifty Bank(+1.43%), Nifty Pharma(+1.19%) and Nifty IT(+1.18%) gained well. Only Nifty Media(-0.8%) closed in red, while Metals + Realty closed flat.

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

News Picks

HDFC(+3.7%) opened with strength and moved up after its results yesterday. The stock gave Nifty nearly 40 points in the day.

Titan(+3.8%) and SBIN(+2.6%) gained sharply ahead of their results announcement tomorrow.

Bharti Airtel(+2.6%) gained to reach a 5-month high ahead of its results today.

APEX(-1.6%) and Avanti Foods(-0.7%) closed in the red as China delayed the clearance of sea food exports from India.

Infy(+1.45%) has been selected by the Union Bank of the Philippines for Finance Digital Banking Solution Suite on Cloud.

RBL Bank closed 4% down after reporting weak Q1 results yesterday.

PVR closed 3.6% down after the Maharashtra government decided not to open movie theatres. Inox closed 2.2% down, also reporting a more than double loss for Q1 compared to last year at Rs 165 crores.

IndusInd Bank closed 3.45% up after RBI selected it as its agency bank for government related transactions.

Dabur India moved 2.5% up after reporting a 27% rise in Q1 consolidated net profit to Rs 437 crores from Rs 342 crores of last year. Nestle(+3.2%), Hindustan Unilever(+2.3%) and Godrej CP(+2.49%) also gained well.

Alkyl Amines(-3%) fell after reporting Q1 standalone net profit Rs 78.5 crores, down 18% QoQ.

Barbeque-Nation Hospitality moved 4.9% up despite reporting Q1 consolidated net loss of Rs 42.6 crores, but better than the loss of Rs 59.5 crores last year. They are also planning to add 20 new restaurants this year.

Investors dumped Vodafone Idea(-10.3%) shares after Promoter Kumar Mangalam Birla offered to give up his entire stake to any government entity to keep the telecom alive.

Adani Ports slowly moved up(+1.8%) after reporting Q1 consolidated net profit at Rs 1,310 crores, up 1.8% from last quarter.

Ashok Leyland(+4.7%) gave a multi-year breakout after publishing July Auto sales data.

Generally, Auto and ancillary stocks including CumminsIndia(+5.7%), JTEKTINDIA(+6.6%), Minda Industries(+5.1%), Bharat Forge(+3.4%), JK Tyre(+8%), Tata Motors(+2.3%) and more closed in the green.

Markets Ahead

Nifty was heavily bullish in the day. And as we ‘hoped’ yesterday, the index did indeed touch the 16,000 mark. Once this was broken, Nifty saw a heavy bullish momentum and our targets for 16,100 were easily reached.

The current setup in the index looks really bullish. 16,000 will be taken as an important support this week along with 15,900. Both were important resistances earlier.

Yesterday, the index closing flat despite the intraday fall apparently did have some strength behind it. Bank Nifty also crossed the 34,800 and 35,000 levels with ease.

The short-covering rally(short sellers squaring off creating more upward momentum) was what we saw today with nearly all Nifty 50 stocks closing in the green.

Tomorrow’s SBI results might just become a reason that Nifty is searching right now to rally more. If there is a relatively positive announcement, it can set the path for NIFTY to reach 16,300 and maybe even above that.

Definitely a day for Option Buyers, with Nifty breaking out after many months of consolidation.

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

Today’s Market Summarised

Nifty opens with a big gap-up, then shows consolidation and closes slightly higher.

Nifty opened the day with a gap-up at 15,876 and moved sideways. The whole index traded in a range of less than 60 points throughout the day, and could not even test 15,900. Even with the intraday fall, a quick covering was seen. Nifty ended the day at 15,885, up 122 points or 0.77%.

Bank Nifty opened at 34,764 and moved sideways through most of the day. 34,700 was broken after 2:30 PM, and there was some sharp fall. However, Bank Nifty recovered and closed the day at 34,710, up 125 points or 0.37%.

Nifty Realty was highly bullish from the morning itself and closed 4.7% up. Nifty Auto gained 1.3% and all the other indices closed with consolidation in the green.

Asian markets closed in the green. European markets are all trading in the green as of our market close.

News Picks

Shree Cements(+3.6%) closed as the Nifty 50 top gainer. Grasim(+2.6%) also gained well. Ambuja Cements(+1.6%) is planning to invest Rs 310 crores to expand the Ropar unit in Punjab.

Eicher Motors(+2.86%) and M&M(+1.9%) closed in the green, powered by July sales data. TVS Motors moved down 1%.

Oil stocks BPCL(+2.7%) and IOC(+2.2%) moved up, with ONGC(+1.5%) and HindPetro(+4.46%) also closing in the green.

Adani Ports moved 2.5% up on expectations of results publishing tomorrow. Adani Ent(+1.2%) also closed in the green ahead of results.

Realty’s multi-year breakout continued with DLF(+4.2%), Godrej Properties(+3.4%), Oberoi Realty(+9.9%), Phoenix Mills(+3.8%), Prestige(+6.9%), IBREALEST(+4.1%), Brigade(+2.4%), Sobha(+7.3%) and Sunteck(+6.3%) shooting up in the day.

Titan(+3.3%) closed near its record high ahead of results on Wednesday.

Hindustan Zinc is looking to start its business in Bangladesh and planning to set up a maintenance and processing factory in Gujarat. The stock closed 1.2% up.

CholaFin moved up 10.6% despite lower-than-expected Q1.

Pi Industries moved up 12.4% after acquiring API Business of IndSwift. Meanwhile, IndSwift Labs fell 14%.

Economic re-opening linked stocks including IRCTC(+5.9%), EaseMyTrip(+9.8%), IndHotel(+1.6%) gained sharply. IRCTC was also boosted by stock split expectations.

Angel Broking(+10% Upper Circuit) and ICICI Securities(+2.7%), 5Paisa(+1%), Geojit(+6.5%) and IIFL(+2.2%) shot up after expectation the new lower freeze limits will generate more income for broking firms.

CONCOR(+7.3%) continued post-results rally and benefit of Land License Fee.

Tata Power(+6.7%) closed higher after being the first Distribution Company in Delhi to meet 100% renewable target.

IDFC First Bank opened nearly 6% down after the bad results, but managed to close flat.

HDFC(+0.8%) saw volatility and closed flat after Q1 standalone net profit at Rs 3,000 crores vs Rs 3,055 crores last year vs Rs 3180 crores last quarter. 

Varun Beverages moved up after reporting Q1 consolidated net profit at Rs 308 crores, up more than 150% QoQ. The stock closed 3.5% up.

SML Isuzu(+6.8%) posted an 79% increase in total sales to 551 units compared to the last year.

Carborundum Universal moved up 5.2% after reporting Q1 consolidated net profit at Rs 77.1 crores, up nearly 4x YoY.  

Markets Ahead

India’s July Manufacturing PMI came out at 55.3 against 48.1 last month. Beats the estimate at 50.5.

Also, India’s July Unemployment rate dropped to 6.95% from 9.17% in June. 

Nifty finally showed a day of strength, staying flat intraday. Even the intraday fall today was not powerful as other days and Nifty bounced back to close near the day-high. The 15,900 zone remains important for the index.

Bank Nifty did not show the same strength and saw closing below the 34,800 mark.

Realty stocks are continuing their strength after the strong breakout. Expecting more in the coming days along with a fresh rally in Metal stocks also.

Bank Nifty is keeping calm but will likely give a clear direction after SBI’s results on Wednesday. HDFC’s results today slightly missed estimates but the stock kept steady.

If you are tracking stock specific moves, be sure to keep the results announcements in mind before entering positions. More and more companies are set to report their results this week.

Hope you had a great start to the week! Let’s hope that it continues with Nifty touching 16,000 and above!

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

Today’s Market Summarised

Markets showing bullishness till 2 PM, then seeing a sharp fall to close flat.

Nifty opened the day with flat at 15,800 and made a very volatile first candle. While trying to move up, Nifty kept finding resistance at 15,820 levels. But just after 1:30 PM, the index shot up to fresh day-highs near 15,860. And just after 2 PM, strength was lost and markets crashed down more than 120 points. Nifty ended the day at 15,763, down 15 points or 0.10%.

Bank Nifty opened at 34,660 and was weak through the morning. The index tried to move up along with Nifty and then was bearish thereafter. Still, the index saw lesser volatility than the rest of the market. Bank Nifty closed the day at 34,584, down 107 points or 0.31%.

Nifty Pharma+3.6% and Nifty Media+1.9% outperformed today. All other indices closed with net consolidation.

Asian markets closed in the red. European markets are all trading in the red as of our market close.

News Picks

SunPharma(+10%) reported Q1 consolidated net profit rose 56% to Rs 1,400 crores against a profit of Rs 894 crores last quarter. Other Pharma stocks including Cipla(+4.1%) and DivisLab(+1.2%) closed in the Nifty 50 top-gainers list.

Lupin(+1.9%) acquires Southern Cross Pharma in Australia.

Zydus Cadila(+2.4%) receives final approval from USFDA for Fulvestrant injection used in cancer treatment.

TechM(+7.2%) shot up after reporting a 42.91% growth in June quarter consolidated net profit at Rs 1,365.7 crore. HCLTech(+1.7%) also closed in Nifty’s top-gainers.

Metal stocks were mostly in the green, but saw profit booking near the top. Hindalco(-2.9%), Tata Steel(-1.6%) and JSW Steel(-1.5%) closed among the top-losers in Nifty 50.

China’s major fertiliser makers to suspend exports amid tight supplies. RCF(+4.1%), Chambal Fert(+1.7%), NFL(+3.3%) and FACT(+5.9%) gained well. UPL(-1.3%) fell ahead of its Q1 results.

Ashok Leyland(+6%) shot up in the morning after its subsidiary Switch Mobility who makes electrified commercial vehicles company announced a strategic agreement with Dana, who is a supplier of parts to companies like Ford.

Lal Path Labs(-4.4%) fell sharply after reporting a 57% QoQ increase in net profit to Rs 131 crores.

Govt approves telecom sector PLI scheme beneficial for ITI(+2.9%), Tejas Networks(+4.9%), HFCL(+4.4%) and Dixon(+1%). Other electronic manufacturing companies including Crompton(+3.3%), Voltas(+2.7%), Bajaj Electricals(+1%) and WhirlPool(+2.9%) also closed in the green.

Marico(+3.5%) shot up after reporting Q1 consolidated net profit of Rs 356 crores up 62% from last quarter.

Markets Ahead

Nifty showed strength just after noon and created fresh day-highs powered by buying across all indices. But even at this time, European markets had opened in the red. 

Once these international markets continued to fall a while later, Nifty also sharply fell from the day-highs to day-low in less than 1 hour.

Metals shares saw profit-booking after a good week. Even with today’s fall, Nifty Metal has closed more than 7.5% in the green this week. 

Nifty Auto has closed as the worst performer, down 1.5% this week. As the month has closed, the announcements of auto sales data will start coming on Monday. So we can watch out for a trend reversal in the first few days of the week!

Expecting a gap-down opening on Monday, if the global markets continue to fall. Few more results from Nifty 50 companies also remain, including that from HDFC and SBIN. As we have seen, results do cause a good impact in the stock price and the rest of the market.

How did your month of July go? Have you been tracking your returns? Otherwise, it is high time to be doing it!

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

Today’s Market Summarised

Markets seeing volatility and net consolidation. Nifty closes the monthly expiry exactly around June month’s expiry range.

Nifty opened the day with a small gap-up at 15,770 and was consolidating in the green. The candles were big and volatile after 12 PM. Even after crossing 15,800, the index did not find enough strength to close above it. Nifty ended the day at 15,778, up 70 points or 0.44%.

Bank Nifty opened at 34,741 with a gap-up and was very volatile. The index saw selling pressure before noon and fell to take support at 34,500. Just when European markets opened in green, the index shot up back to day-highs. With net consolidation, Bank Nifty closed the day at 34,691, down 158 points or 0.46%.

Nifty Metal shot up more than 5% today, with Nifty PSU Bank moving up more than 3.5%. Nifty IT(+1.39%) and Nifty Realty(+1.61%) gained while Nifty FMCG closed 1% down. All other sectors closed with consolidation.

Asian markets closed in the green. European markets are all trading in the green as of our market close.

News Picks

Metals rally continued with raw metal prices once again moving up. China has also raised export tariffs for some steel products from August. Hindalco(+10%), Tata Steel(+6.8%) and JSW Steel(+3.7%) closed strongly in the green in Nifty 50’s top gainers. Tata Steel and Hindalco gave Nifty 30 points out of its total 70 point gain.

National Aluminium(+8.7%), VEDL(+6.8%), SAIL(+6%), NMDC(+4.9%), Jindal Steel(+4.2%) also closed in the green.

Bajaj Twins once again showed up in the top gainers with Baj Finserv(+4.5%) and Baj Finance(+2.2%) moving up.

SBI(+3.7%) shot up to fresh 52-week highs ahead of its Q1 results. The stock alone contributed 175 points to Bank Nifty’s 160 points up move.

PowerGrid(-26%) opened with a gap-down due to the bonus issue in the ratio of 1:3. You can ignore the stock in today’s top losers section.

Tata Motors(+2.9%) gained with reports that they will be increasing prices of passenger vehicles. Maruti Suzuki closes 2% lower after reporting a weak set of earnings.

CoForge(+9%) gained sharply after announcing results yesterday. MindTree(+3.2%) and LTI(+6.4%) also closed in the green.

Tatva Chintan listed at Rs 2,396/share vs issue price of Rs 1,083/share, at a premium of 121%. Closed at Rs 2,312, up 113%.

Tata Teleservices partners with Zoom to provide unified communications solutions to Enterprises. The stock closed in the 5% Upper Circuit.

Colgate-Palmolive reported Q1 standalone net profit at Rs 233 crores, down 40% QoQ. The stock closed 4.6% down.

Balrampur Chini to consider share buyback & Q1 result on Aug 9. The stock closed 7.8% up.

Tejas Networks locked in the 5% upper circuit as Tata Sons is set to acquire a controlling stake in the company.

LIC Housing Finance reported more than 60% YoY drop in Q1 standalone net profit at Rs 153 crores. The stock fell 4.2%.

Jio adds 35.4 lakh customers. Bharti Airtel loses 46.3 lakh. Idea loses 42.9 lakhs. Reliance was showing strength in the morning. Bharti Airtel is losing subscribers for the 1st time since June 2020.

Tech Mahindra reported Q1 consolidated net profit at Rs 1350 crores, up 30% compared to last quarter.

Markets Ahead

Nifty has closed the July month expiry at the exact same level as of June month’s level. Was a very interesting expiry with volatility but net consolidation!

Metal stocks continued to rally just as we expected. Jindal Steel, which we had talked about yesterday, gained more than 4% intraday.

15,800 was not sustained and this is showing that there is still not enough strength in the market. Bank Nifty staying below 35,000 is another sign of weakness.

The point of reversal could be the Q1 results from HDFC and SBI. SBI results, if good enough, will provide confidence to all other banks and help Bank Nifty move up. Otherwise, this consolidation is likely to continue or may even see some bearishness.

Internationally, automaker Volkswagen has cut the sales forecast for this year due to the microchip shortage. This could be the reason that Auto stocks continue their consolidation even with decent sales data numbers.

Hope you had a profitable expiry in the market! Let us know in the comments section down below how it went for you!

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

Today’s Market Summarised

Markets crashing in the morning, and flying back up in the afternoon.

Nifty opened the day with a small gap-up at 15,767 and crashed down. Just in the first 5-minute candle, Nifty fell more than 100 points. Then by 10:45 AM, the market bottomed out around 15,510, more than 250 points down from the open.

From here, all indices slowly regained back with volatility. Till the last minute, there was strength in the recovery. Nifty closed the day at 15,709, down 37 points or 0.24%.

Bank Nifty opened at 34,841 and fell sharply. The index followed a very similar pattern to Nifty, taking support at 34,100 at around the same time that Nifty also reversed. A strong move back up, of nearly 450 points from the day-low was seen. Bank Nifty closed the day at 34,532, down 264 points or 0.76%.

Nifty Metal closed 1.22% up, while Nifty PSU Bank moved down more than 1.55%. All other sectors consolidated.

Asian markets closed mixed. European markets are all trading in the green as of our market close.

News Picks

Bharti Airtel shot up more than 5% to close as Nifty 50’s top-gainer. The company raised their entry-level prepaid plans from Rs 49 to Rs 79. Other telecom stocks including Idea(-0.6%) and Reliance(-0.86%) jumped up at the same time but closed in the red. IndusTower gained 4%.

Tata Steel(+2.5%), JSW Steel(+1.5%) and Coal India(+1.1%) featured in the top-gainers list. Metals are continuing their rally as we expected. SAIL(+3.1%), MOIL(+3%), APL Apollo(+2.3%) and VEDL(+1.75%) also closed in the green. 

SBI Life(+2.5%) also continued its rally and moved up. The stock is up more than 10% in the last 5 trading days.

IndusInd Bank(+1.7%) closed in the green after reporting a doubling of its net profit to Rs 1,016 crore in the June 2021 quarter, on a dip in provisioning and a surge in other income. ICICI Bank(+1.1%) also closed in the green, while Kotak Bank(-2.6%) saw heavy selling.

Maruti Suzuki (-1%) moved down after reporting Q1 consolidated net profit at Rs 475 crores vs a profit of Rs 1,241 crores last quarter. Tata Motors(-2.3%) and M&M(-2.2%) also closed in the red.

Pharma stocks had a mixed day with Cipla(-2.5%), Dr Reddy(-2.3%) and CadilaHC(-3.5%) featuring in the top-losers list, while DivisLab(+2%), Torrent Pharma(+2.7%) and AuroPharma(+1%) moved up.

Intellect(-10.5%) fell sharply after reporting Q1 results fell below estimates. Consolidated net profit came at Rs 73.7 crores, down 10% QoQ.

Yesterday’s gainers Tata Coffee(-8.5%) and CCL(-7.5%) crashed down intraday after the Q1 results of Tata was announced. Q1 consolidated net profit reported at Rs 28.6 crores, down 33% from Rs 43 crores of last quarter. 

The Centre may reduce the 25% vaccine quota for the private sector. Apollo Hospitals closed 1.6% down.

NSDL allows entries of Albula, Cresta Fund & APMS on its website. These were the FII entities linked to the Adani scandal. Adani stocks tried to move up after the news but only Adani Green(+3.4%), Adani Trans(+4.4%) and Adani Power(+2.4%) closed well in the green.

Welspun India(+5.36%) moved up after reporting Q1 consolidated net profit at Rs 218 crores, 65% up QoQ.

Mahindra Lifespaces(+4.5%) approved bonus issue of equity shares in the ratio of 2:1.

Markets Ahead

It was a very volatile and crazy day in the market. Nifty fell more points in the first 5 minutes than the total it had moved on Monday. India VIX, also known as the fear index, was up by more than 20% at one point.

At 15,630, a lot of stoplosses were probably triggered as Nifty fell heavily. And then, 15,500 was taken as support. Domestic Institutions probably bought up a lot of shares at the dip today.

Similarly, the 34,400 zone was a good support zone for Bank Nifty. Once this was broken, another sharp fall was seen. And on the way back, once this zone was broken, Bank Nifty shot back up!

As such, there was no real reason for the bearishness in the market. IMF had cut India’s GDP forecast sharply yesterday, along with that of many other countries. Japanese markets closed more than 1.5% in the red.

But once European markets opened and started moving up, Nifty found strength. Somehow the index crawled up to above 15,700 levels by market close, 200 points higher from the day-low.

Tomorrow is the monthly expiry and we may see some volatility in the market. The week till now has already been dramatic, so let’s trade safe and not get trapped in such volatile moves! Nifty has closed in the red for all three days of this week, let’s see if there is a reversal coming up or more fall.

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

Today’s Market Summarised

Indian markets closed in the red with heavy selling in Pharma stocks and struggling global markets.

Nifty opened the day with a small gap-up at 15,860 and consolidated. Just before noon, there was weakness after Nifty fell below 15,850. Just after European markets opened, Nifty crashed and fell to 15,700 level. A retracement was seen but weakness continued. Nifty closed the day at 15,746, down 78 points or 0.49%.

Bank Nifty opened at 35,035 and found it difficult to cross 35,200. The index was volatile and fell nearly 500 points from high to day-low along with Nifty. Once 35,000 was broken and the index fell even more and remained weak. Bank Nifty closed the day at 34,797, down 152 points or 0.44%.

Nifty Pharma crashed 4.33%. Most sectoral indices closed slightly in the red. Nifty Metal managed to closed 1.46% up.

Asian markets mostly mixed, but the sell-off in Chinese and Hong Kong markets continued. European markets are all trading in the red right now.

News Picks

Metal stocks closed in the green with Hindalco(+4.3%), Tata Steel(+2.5%) and JSW Steel(+0.8%) closing in Nifty 50’s top gainers list. China is planning to impose tariffs on steel exports from the country; this could increase demand for India’s steel.

Other Nifty Metal stocks – APL Apollo(+8.7%), National Aluminium(+4.3%) and Jindal Steel(+3.9%) closed with gains.

SBI Life(+2.6%) once again gained near closing time and ended among the top-gainers, continuing bullishness after results. Even when Bank Nifty closed in the red, SBI closed 1.6% up.

Dr Reddy’s fell sharply along with many other Pharma stocks. The company reported Q1 consolidated net profit at Rs 570 crores, down 5% YoY. Also received complaints regarding under the table dealings with healthcare professionals. The stock closed 10.4% down.

Cipla(-3.9%), Divislab(-2.6%) and SunPharma(-2.1%) also moved down from Nifty 50. Other pharma stocks including Lupin(-5.1%), AuroPharma(-4.9%), Biocon(-2.5%), Sparc and Glenmark(-6%) closed in the red.

Alembic Pharma(-11.2%) slips to a 52-week low after weak earnings and company withdrawing their growth guidance.

USFDA to inspect Auro Pharma‘s Unit 1, API(Active Pharmaceutical Ingredient) plant. The stock closed 4.9% down. 

INOX LEISURE says it has no discussions with Amazon regarding any deal. News titled ‘AMAZON INDIA IS SHOPPING: INOX, OTHERS ON WISHLIST’ has been surfacing on the internet and Inox said the news is not true. The stock was more than 13% up in the morning and after the news it moved down to close 5.7% up.

Global sugar prices hit fresh 52-week high yesterday. Sugar stocks – Balrampur Chini(+2.9%), Renuka(+5%-UC), Triveni(+5%), EIDPARRY(+2.2%) and Dwarikesh(+4.1%) closed in the green. 

Coffee stocks CCL(+16.3%) and Tata Coffee(+9.2%) moved up in the day.

Equitas(+6.3%) and Equitas Small Finance Bank(+4.7%) gained after the board approved a reverse merger with Equitas Small Finance Bank. Shareholders will receive 226 shares of Equitas SFB for every 100 shares of Equitas Holdings.

Happiest Minds closed 5.6% up ahead of results.

Pfizer hit a fresh all-time high and closed 5.8% up. Hope everyone had the stock in their portfolio since we started talking about it many months back.

APL Apollo(+8.7%) shot up after reports that the board will consider a bonus issue on August 6.

ABB INDIA will sell its Mechanical Power Transmission Division (DODGE) to RBC Bearings company for Rs 21,580 crores. Note that the entire ABB is worth just Rs 36,000 crores, so maybe worth it is looking into?

Ramco Cements(-5.5%) fell after reporting Q1 standalone net profit at Rs 170 crores, down 40% from last quarter. 

Manappuram jumped up to fresh all-time highs after last week’s breakout and closed 7.8% up. 

Zomato touched a fresh all-time high and then moved 11% down from that level. Closed 7% down for the day.

Markets Ahead

The sell-off in our markets was triggered by Dr Reddy’s results and European markets opening in the red. This selling may have triggered some panic and taken Nifty down till 15,700 levels.

There is weakness in the market right now with Nifty unable to sustain above the 15,900 mark. Bank Nifty also is struggling to move above 35,200.

Once again the earnings reports are causing volatility in Nifty, which can be expected till the month-end. Keep an eye out for IndusInd Bank’s results tomorrow. 

The heavy call writing at 15,800 along with global markets in the red indicates temporary weakness for Nifty. Let us see if the market can hold above the 15,630 and 15,500 support zones.

Steel stocks continuing to outperform the market and are showing bullish signals. Hoping you all have already added few stocks to your swing watchlists!

Hope you had a great day in the market. Did you catch the Dr Reddy fall? Or did you get trapped in it? Let us know in the comments of the marketfeed app!

Today’s Market Summarised

Nifty opens the week with heavy consolidation.

Nifty opened flat at 15,850 and was volatile. It tried to move up but could not cross Friday’s high and started falling. After some more consolidation, the market again started falling. Nifty closed the day at 15,824, down 31 points or 0.20%.

Bank Nifty opened at 34,880 with a gap-down and was very volatile. But with power from ICICI Bank, the index started moving up and even crossed Friday’s highs. This was not sustained and the index moved back down. Even though it tried to stay above 35,000 level, Bank Nifty closed below it at 34,949, down 85 points or 0.24%.

Most sectoral indices closed with consolidation. Nifty Realty moved down 0.96%, while Pharma gained 0.63%.

Asian markets mostly closed in the red. European markets are all trading slightly in the red right now.

News Picks

SBI Life(+2.49%) shot up near market close after reporting Q1 earnings. Q1 consolidated net profit came at Rs 223 crores against Rs 391 crores last year(-42%). It closed as Nifty 50’s top-gainer.

Bajaj Finserv continued gaining momentum, closing 2.45% up.

Jindal Steel opened nearly 10% up and after the profit booking closed 1.5% up in the green. Yesterday, the company got a revised bid from Worldone for its thermal power subsidiary for Rs 7,400 crores. The deal will help reduce debt.

Generally, metal stocks remained strong. Hindalco(+2.1%) and Tata Steel(+1.2%) closed in the top gainer’s list of Nifty 50, while SAIL(+2.4%) and Vedanta(+1.6%) also moved up. JSW Steel however closed as the top-loser, down by 1.8%.

Vedanta moved up 1.6% after reporting net profit at Rs 4220 crores vs Rs 1033 crores last year vs Rs 6432 crores last quarter.    

Pharma majors Sun Pharma(+1.3%) and Cassiopea SpA signed license and supply agreements for Winlevi cream in the US and Canada. WINLEVI is used on the skin to treat acne.

Navin Fluorine reported Q1 net profit at Rs 55.9 crores, down 25% from last quarter. The stock closed 5.9% down.

M&M Financial fell after reporting a net loss of Rs 1,573 crores vs profit of Rs 432 crores last year. The stock closed 5% down.  

MahindCIE closed 9% up along with BSE(+8%), ICIL(+9.3%), Alkyl Amine(+9.5%) and CapliPoint(+19.2%).

Kotak Bank reported a Q1 standalone net profit of Rs 1640 crores vs Rs 1244 crores last year. The stock closed 1% up.

Alembic Pharma moved down 3.8% after reporting a 45% YoY fall in net profit to Rs 164 crores for Q1.

Apollo Hospital(+4.6%) and LalPathLab(+2.6%) shot up to fresh all-time highs.

Markets Ahead

Nifty opened the day with volatility from Reliance and ICICI Bank after their results were published over the weekend. Even though it was taken well by analysts, markets punished Reliance and the stock pulled down Nifty down by 23 points.

In the usual case, when Nifty consolidates we see that the midcap and smallcap indices rally. That is how we know that there is still some bullishness in the market. Today both of them consolidated.

The earnings reports are splitting up investors, as financial stocks fail to impress. The market is also feeling that the results are not living up to the current valuations of the companies.

Nifty will continue to consolidate unless it can close above the all-time high level strongly. On the lower side, a close below 15,500 would indicate weakness for the short-term.

Watching steel stocks gain back momentum is interesting, keep an eye out for the sector. Oil stocks, especially large-caps like ONGC have lost steam as crude oil prices cool down.

Hope you had a great start to the week! How did it go for you? Let us know in the comments of the marketfeed app!