Tag: nifty Bees strategy

Today’s Market Summarised

A bullish day in the market. After remaining closed on Wednesday, Nifty opened with a gap-down and consistently went up in the day.

After opening the day with a 70-points gap-down at 14,225, Nifty tried to move down in the first candle. But today being the weekly expiry, some magic was sure to happen. After 30 minutes, the opening level was broken and Nifty went up throughout the rest of the day. The majority of this power was given by financial stocks. Nifty moved up 270 points from the day-low and closed the day at 14,406, up 109 points or 0.74%.

Bank Nifty’s was highly bullish in the day, with almost all participants closing in the green. After opening at 30,728, Bank Nifty moved up nearly 1300 points from the day-low. A proper uptrend with both private and PSU Banks shooting up. Bank Nifty closed the day at 31,782, up 669 points or 2.15% for the day.

But interestingly, all sectors did not move up equally. Nifty Financial Services(up 2.13%) was followed by Bank Nifty(up 2.15%). Media, Metal and Realty indices were up 1-2%. Nifty FMCG fell the most, but down only 0.74%.

Major Asian markets also closed mostly in the red today, with Japan’s Nikkei 225 up more than 2%. All European markets are trading in the green.

News Picks

Caplin Point Lab received USFDA approval for Neostigmine Methylsulfate injection. The stock closed up by 3%.

Lalit Agarwal of V-Mart Retail said that Tier-I and II towns are the most impacted now by fresh lockdowns and will lose at least 40-45% of business in Q1. The stock recovered to close 2% down, after falling nearly 5% intraday.

India’s sugar export data is out, giving even more strength to the sugar rally. Exports stand at Rs 17,072 crore, up 39.64% compared to last year. Balrampur Chini closed 7% up, and Eid Parry closed 2.5% up.

Filatex India’s Q4 net profit jumped nearly 5x to Rs 118 crore vs Rs 21 crores last year. Stock is up by nearly 2%.

Tata Motors fell sharply intraday after subsidiary JLR suspended UK car plants work due to the shortage of semiconductor chips. Stock closed down more than 1%.

Indiabulls Housing Finance and HDFC entered into a strategic co-lending partnership to offer housing loans at competitive rates. Indiabulls HSGFin was up by 12% at one point and closed up 6%. HDFC gained more than 2.5%.

After Tata Steel BSL amazing net profit numbers, shares of the company closed up by 4%. Tata Steel closed up 3% in the day.

With this, many metal stocks turning bullish again. Ace investor, Rakesh Jhunjhunwala, said in an interview today that he is a large investor in metal stocks & expects the demand is going to be huge over the next decade.

Reliance’s media firm, TV18 Broadcast, reported a 77.03% increase in its consolidated net profit for Q4. The stock closed 20% up in the day. Parent company Network18 gained nearly 12%.

With Wipro announcing a 2nd salary hike, and investors turning bullish again, stock prices closed 3.52% up in the day. 

Cement stocks continued to be under pressure with ShreeCem, UltraCemco featuring as top-losers in the day. 

Markets Ahead

With how ICICI Bank was flying up in the morning, and seeing Kotak & HDFC Bank, I was personally highly bullish on Bank Nifty in the day. It did outperform even Nifty and went above my targets of 31,500.

The majority of market sentiment was lead by this one simple logic which took up Bajaj Finance and Bajaj Finserv last day. Good finance companies with the ability to raise capital will be safe against the Covid-19 threats. With this, 4 out of the top 10 gainers in Nifty were banks/NBFCs.

PM Modi addressing the nation and saying that a lockdown is advised only as a final resort would have given markets some confidence.

COVID-19 vaccine registration for people of 18 years and above will start on Saturday, April 24(update: Date is confirmed as April 28).

Also following up, AstraZeneca shares went up 10% in the day. Pfizer shares crashed 5% after media reports announcing the signing of a vaccine agreement with AuroPharma. 

IT shares are all about getting in at good levels, as proved by Wipro hitting a 52-week high today. More up move for the stocks including small-caps like Happiest Minds is expected.

So in every market crash/dip, average or pick up new stocks to your portfolio. But make sure that this portfolio is a strong one, consisting of the best companies of their sector.

Bank Nifty is still under 32,000 and Nifty is still under 14,500. So don’t think that the market can be called bullish yet.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Fake positivity but did anyone fall for it? Markets moving down consistently throughout the day with only Nifty Pharma trading somewhat sideways.

After opening the day with a 170-points gap-up, Nifty consistently kept falling through the day. This was helped initially by the fall in HDFC and Infy. But later, banks also joined in on the fun to pull the index even lower. After trading between 14,350 and 14,400 for 2 hours, a sharp sell-off across the market took the index down to 14,200 levels.

Nifty remained volatile to close the day at 14,296, down 63 points or 0.44%.

Bank Nifty’s case was different. After opening with a 350 point gap-up at 31,589, Bank Nifty tried to move up even more with HDFC Bank remaining strong. But this was not enough, as the index started coming under selling pressure soon. 31,400 was respected for the first time, but was taken out. The index fell below 31,000 but managed to climb back.

Bank Nifty closed the day at 31,112, down 95 points or 0.31%.

Nifty Media(up 3%) gained the most today, followed by Nifty Pharma(up 1.29%) and Nifty Auto(up 1.03%). Only Nifty IT closed more than 1% down. All other indices consolidated.

Asian markets closed mostly in the red today, with Japan down 2%. European markets trading in the red.

News Picks

After yesterday’s announcement of vaccine for everyone above 18,

PM Narendra Modi is likely to hold a meeting with top vaccine manufacturers today at 6 pm. We can look out for important announcements after this.

India’s Covid test positivity rate fell for the first time in the last 11 days. One week lockdown has been imposed in Jharkhand from April 22.

Cadila Healthcare said it expects approval for its Covid-19 vaccine by June and may double production to 24 crore annual doses. The stock closed up by more than 5%.

Inox Air said oxygen requirement increased 7 times and has met 70% of the demand. Inox Wind closed up by 6 %. The stock was up by more than 17% at one point in time.

FADA Maharashtra expects April auto sales to be 70% lower than the average as the first 15 days were slow. Auto stocks saw some profit booking around this time but regained back.

ICICI Bank board to meet on April 24 to consider fundraising by way of issuance of bonds. The stock was nearly 2% up in the beginning but closed in the red.

Shares of Bajaj Finserv and Bajaj Finance closed as top-gainers today. The companies along with many other private players are the ones raising cash to safeguard against the next Covid-19 wave.

Dr Reddy gained to close nearly 3.80% up in the day, after the government’s vaccination for all announcement. The pharma major is manufacturing Russia’s Sputnik-V and is currently exploring pricing options.

Cement stocks came under profit booking even with ACC reported good quarterly profit numbers yesterday. UltraCemco closed nearly 5% down in the day, followed by ACC at 2.71% down.

Shares of PVR and Inox gained 6% and 4% respectively after yesterday’s fall. Investors bet on vaccination hopes and fund-raising by the companies. The stocks are still considerably down this year, with PVR down more than 20% from Jan 1.

Markets Ahead

Markets saw heavy profit booking after the gap-up opening. It was clearly a false positivity in the beginning as just announcing a vaccination for all actually changed nothing for the markets.

ICICI Bank and HDFC Bank tried to hold up in the beginning but with their fall everything was back to yesterday’s level. Usually, we see Wednesday falls in the market. But today the market saw profit booking after 2 pm as tomorrow is a holiday.

Nifty continues to look weak, and if Bank Nifty cannot close above 32,500 this weakness will continue. The 14,200 support has now been tested multiple times, and we may see this level breaking soon.

If you remember, we had talked about getting into AstraZeneca and Pfizer positions nearly a week ago. If you did, then more than 12-15% of profits would have been yours in a bearish market. Dr Reddy, Pfizer and AstraZeneca have helped keep my portfolio in green. Will be looking for more opportunities once the market settles down.

Open some charts and find some levels tomorrow. Enjoy the market holiday of Ram Navami, and try to use some time for studying.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Covid-19 fears forcing the markets to open with a huge gap-down. All indices slowly moved up through the day, and it was a general trending day after 9:30 am.

Nifty opened the day at 14,314 and fell nearly 130 points in the first 15 minutes. After taking 14,200 as support, all sectoral indices started to move up. From here there was no looking back. IT stocks including Infosys helped push the index up along with some last-minute power from the HDFC twins and ICICI Bank. Nifty closed the day at 14,359, down 258 points or 1.77%.

Bank Nifty also had a similar story, but it was less bullish than Nifty in reversing. After opening with a gap-down at 31,033, the index fell more than 600 points before starting to move up. The slow movement was accelerated near the end with some sharp moves from HDFC Bank and ICICI Bank. Bank Nifty closed the day at 31,208, down 769 points or 2.40% for the day.

Only Nifty Pharma managed to close in the green today(up by nearly 0.2%). Nifty PSU Bank(down 4.15%), Nifty Realty(down 4%), Nifty Auto(down 2.82%), Nifty Media(down 2.64%) were the worst-performing indices.

Asian markets closed flat in the day. European markets are also trading flat. The bearishness in our market was completely localised.

News Picks

PM Modi day was filled with back-to-back meetings, to take review of the Covid-19 situation in the company. He will interact with leading doctors from India via video conference at 4:30 pm. At 6 pm, the Prime Minister will hold a meet with top pharma companies in the country

Jubilant Pharma has developed an oral formulation of the much-needed antiviral drug Remdesivir. The stock closed up by 6%.

A 6-day lockdown announced in Delhi. Essential services will continue during the lockdown in Delhi. A severe shortage of ICU Beds and Oxygen forced the Delhi government to take this decision, said CM Arvind Kejriwal.

The Supreme Court has stayed further proceedings in Amazon-Future-Reliance. The matter will be finally heard by the court on May 4. Shares of Reliance closed near a good support zone of Rs 1,900.

Caplin Steriles received USFDA approval for Milrinone Lactate Injection, which is used against the short-term treatment of heart failure. The parent company Caplin Point Laboratories closed up by more than 5%.

Dr Reddy featured in Nifty’s top-gainers list, showing the bullishness in Pharma stocks. Cipla also closed in the green.

Shares of AstraZeneca closed 3.5% up as the Finance Ministry cleared Rs 3,000 crore credit for Serum Institute of India, which manufactures the vaccines.

Borosil Renewables approved an expansion plan to raise its production capacity of solar glass by an additional 1000 tonnes per day. Shares closed more than 4% up in the day.

Two-wheeler stocks remained bearish in the day as CLSA says they expect two-wheeler sales recovery to underperform. HeromotoCo and Bajaj-Auto closed down more than 3%.

Markets Ahead

After opening with huge gap-downs, every index except Nifty Realty and Nifty PSU Bank closed above their opening levels.

This happened even with all the negative local cues. Remember that HDFC Bank had posted good results, with profits up more than 18%. The stock gained more than 2% from today’s open. Investors are also expecting other major private banks to post good results.

The asset quality of India’s largest private bank also impressed analysts, and we will have to see if this can be maintained.

The lockdown measures in Delhi today saw no further reaction in the market hours today. Himachal Pradesh CM has said they have no plans for a lockdown.

But I do agree with Maruti Chairman RC Bhargava. He said aftermarket hours that a blanket ban on movement and economic activity will be overkill. “Pandemic needs a state-by-state approach. This lockdown may be the last nail for many struggling businesses.”

Let us see what approaches that the Central Govt takes to control the current situation. Nifty falling below 14,150 this week may see a journey towards 14,000 and 13,850 soon. If all goes well, the index will see a retracement back up to 14,500 and above.

Private Banks having more weightage in Bank Nifty will keep it strong for a few days. Hopefully, 30,000 will be taken as strong support in the index.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened the day at 14,600 and tried to was very volatile. After finally deciding to move up, Nifty could not sustain above 14,680 and mostly consolidated in the day. Between 9:30 am and 3 pm, the index moved in an 80-point channel. In the last hour, Nifty fell more than 110 points as heavyweights fell. Nifty closed the day at 14,617, up 36 points or 0.25%.

Bank Nifty also saw a day of consolidation, trading in a 400 point zone. After opening at 32,170, Bank Nifty tried to break 32,300 but could not find enough power. The index remained volatile in a very tight range. Bank Nifty closed the day 31,977, down 135 points or 0.42% in the day.

Nifty Pharma(up 1.90%), Nifty Media(up 1.87%) were the best performing sectors in the day. Nifty IT and Nifty Auto were both up 1.21%.

Asian markets closed flat but all in the green today. European markets are trading in the green.

News Picks

After Wipro posted a 27% YoY jump in consolidated net profit at Rs 2,972 crore yesterday, the stock was highly bullish in the morning. Closed the day up by 9%.

A government entity announced a collaboration with Tata Power to set up solar-powered microgrids and water pumps in rural areas across the country. Tata Power closed the day nearly 3% up.

Railway Board Chairman Suneet Sharma said that no state has asked the railways to stop any train service yet. Shares of IRCTC gained after this to close 1% up in the day.

Q4 revenue of GTPL Hathway is at 748 crore rupees vs 635 crores (YoY) and  net profit is at 56.9 crore rupees vs loss of 13.6 crores (YoY)

Ashok Leyland has completed the delivery of bulletproof vehicles to the Indian Air Force. The stock closed up by 1.5% in the day.

Nalco got a mining lease for Utkal-E Coal Block. The block has a total mineable reserve of about 70 MT. The stock closed 1.55% up in the day.

Aluminium stocks generally remained bullish in the day after global aluminium company ALCOA reported strong earnings for the last quarter. Hindalco was up 4.65%, followed by Vedanta at nearly 3% up.

After reports came out that Cadilac Health had completed Phase-III trials of their Covid-19 vaccine on children, the stock shot up to close up by 4.44%.

Most Cement stocks went up in the day, with the expectation of higher profits as cement prices continue to go up. UltraCem gained nearly 2.7% in the day.

Vivmed Labs received approvals for three products from its Hyderabad plant. Stock made an amazing run, closing up by 15.8%.

Remdesvir producing Pharma companies generally remained bullish in the day, as demand for the anti-viral drug increased. In fact, all stocks from Nifty Pharma closed in the green.

Shares of DCM Shriram hit an all-time high after moving up nearly 20% in the day.

CAMS went up 11.47% to hit an all-time high. The stock will continue to move up as mutual fund penetration in the country improves.

Shares of Angel Broking closed nearly 9% up after it onboarded nearly 4 lakh customers during March 2021, a record for a month. Added nearly 10 lakh clients in the January-March quarter.

Markets Ahead

Chandigarh is imposing a weekend curfew. Uttar Pradesh govt announced a lockdown every Sunday. Weekend curfews, Sunday curfews and night curfews still sound like a joke to me and will help with nothing but hurting businesses. Instead more awareness, stricter mask and quarantine rules can be enforced.

Markets also feel the same way, with no apparent reactions to the new lockdowns across the country. Centre Govt once again said it has no plans for a nation-wide lockdown.

Nifty has posted yet another weekly loss, unable to recover properly from Monday’s fall. It is the 4th weekly fall in the last 5 weeks.

Interestingly, Nifty Pharma was the only sectoral index to close with gains this week(up 1.8%). Nifty PSU Bank was down 7% followed by Nifty Media and Realty both down 5%.

Hoping everyone is ending the week with net profits. Personally got the chance to pick up some good stocks in the dip. You can always maintain a list of strong stocks from good sectors which could rebound well after sharp falls.

For context, in a week when Nifty and Bank Nifty closed with 1.5% losses, HDFC Bank is up in green. The dip was a beautiful opportunity for those who capitalised it well.

Also, there is a chance for further jump in SBI Cards(up 6% today). Citigroup is planning to exit retail banking in India and its 27 lakh strong credit card portfolio could be up for grabs. If SBI Cards manages to grab the customers directly, it could add well to its 1.2 crore credit card portfolio. But of course, HDFC Bank and other players will be interested too. 

Have a chill weekend, and do not forget to open a few charts and look into some annual reports as well. SBI Cards is one stock you can look into, a very interesting company which for disclosure I am personally holding.

Have some tea, and enjoy your weekend.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

A positive end to a highly volatile day. Markets close with gains even after Mumbai lockdown and mid-week holiday broke Tuesday’s bullish momentum.

Nifty opened the day at 14,530 and tried to move up in the first 15 minutes. But at 9:30 pm, the market started falling heavily, which saw the index falling 200 points in 2 hours. What happened after this was very interesting. All indices reversed along with Nifty and it moved up and up. After crossing the opening range, Nifty closed near the day high at 14,581, up 76 points or 0.53%. Even with all that volatility, it was just 50 points away from day’s open.

Bank Nifty was generally more bullish in the day, outperforming Nifty. After opening with a gap-up at 31,932, even the first candle was very volatile. It fell nearly 700 points to the day-low in 2 hours and then reversed with high strength. With this strength, Bank Nifty closed near the day-high at 32,112, up by 341 points or 1.07%.

Nifty Pharma, Nifty Metal, Nifty Bank gained more than 1% in the day. Nifty PSU Bank and Nifty Auto fell more than 1%. Nifty PSU Bank which fell nearly 10% yesterday was today’s top-gainer, going up nearly 4.5%. Nifty IT saw heavy profit booking, falling more than 3% in the day.

Asian markets closed flat but mostly in the green today. European markets are trading with small gains.Asian markets closed in the green today. European markets are consolidating.

News Picks

Delhi Govt announced a weekend lockdown but avoided a full lockdown. Malls, gyms, spas and auditoriums will be closed but cinema halls will be able to function at 30% capacity. PVR and Inox fell 2.5% and 3.5% respectively over the day.

Cadila HealthCare said it plans to double the production of anti-viral drug Remdesivir by May, to produce 20 lakh units per month. Stock closed up 3% for the day.

Tata Motors & Bajaj Auto said that all the Maharashtra plants are operational in compliance with government guidelines. Both stocks gained from the day’s low to close nearly flat.

After the Q4 results of Infosys missed estimates, the stock opened with a nearly 4% gap-down. Last day it was TCS who fell sharply. Infy gained back some losses but closed down by 2.4%.

HDFC Bank said it is planning to raise up to Rs 50,000 crore during the next 12 months through the issuance of bonds. Even when Bank Nifty fell sharply in the morning, HDFC Bank was mostly strong. It closed with more than 2.4% gains.

Metropolis Healthcare completed the acquisition of Tamil Nadu-based Dr Ganesan’s Hitech Diagnostic Centre Private Limited. Shares of Metropolis Healthcare closed up by 2.2%.

Share of Cipla and TCS gained sharply to get into the top-gainers list today. Both of them were among the top-losers on Tuesday.

ONGC invited buyers for gas from the KG basin, sees it as key to increase domestic production. Share prices closed up nearly 3% in the day.

Eicher Motors fell nearly 3% after brokerages reduced the target on the stock. If you have done your own research, then these dips can be seen as opportunities for buying.

India’s March Wholesale Price Index inflation came out to be 7.39% against an estimate of 5.90%. This does not look good for the economy, but RBI has already said that it would not be increasing rates soon.

The Health Ministry today opened a pathway for foreign COVID-19 vaccines to be used in India. This is expected to speed up India’s vaccination process.

Competition Commission approved the acquisition of DHFL by Piramal Capital & Housing Finance.

Markets Ahead

Volatility trapped many traders in the market today. Such was the movement. 

But now I feel that the markets have factored in the restrictions in Maharashtra well. All that was added in the first 2 hours of the market. In fact, markets went up after a small dip, even when the Delhi CM today announced a weekend lockdown there. 

My only concern is that the vaccination drive in India is yet to catch up to that of other developed nations. The ground reality in many states is getting worse by the day. But hoping that the increased production of anti-viral drugs will be able to lower the rates of severe cases.

Nifty will keep moving on, even with all such roadblocks. 14,650 and 14,800 will be good levels going up. Moving down, we know that 14,500 will act as good support along with 14,370 and 14,250. 

Bank Nifty closing above 32,000 is also a sign of strength. This level could once again act as a support along with 31,000 down below. 

Finance Minister Nirmala Sitharaman has also said that there will not be a nationwide lockdown. Nifty looks like it will not be affected by any further lockdown news like that of Maharashtra.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Tables turn in the market. IT and Pharma indices going to red, while financial stocks outperformed along with Autos and Metals.

Nifty opened the day at 14,368 with a slight gap-up. The index tried to go up multiple times but found resistance at 14,400-14,450 as IT stocks remained weak. But after 2 pm, every index started to move up and pushed Nifty up considerable. Nifty closed the day at 14,504, up 194 points or 1.36%.

Bank Nifty was more bullish in the day. After opening at 30,950, the index tried to fall in the first minute itself. But yesterday’s low was not broken and with this confidence, Banks started moving up. The index consolidated in a 350-point range for more than 4 hours before breaking out near noon.

Even though 32,000 was not broken, Bank Nifty managed to close above yesterday’s high at 31,771, up 979 points or 3.18%.

Nifty PSU Bank which fell nearly 10% yesterday was today’s top-gainer, going up nearly 4.5%. Nifty IT saw heavy profit booking, falling more than 3% in the day.

Asian markets closed in the green today. European markets are consolidating.

News Picks

Shares of M&M closed nearly 8% higher in the day. The company has received more than 50,000 bookings for Mahindra Thar in the 6 months of launch and is ramping up production to reduce waiting time. Also planning to introduce XUV400, in competition to Hyundai’s Creta.

Shares of Bajaj Finance and Bajaj Finserv went up gradually over the day. The Bajaj Twins were top-gaining stocks of the day from the start. The NBFC stocks pushed up Nifty Finserv to go up 3.4% at close.

While it was the day of reversals of Banks and NBFCs, yesterday’s gainer Dr Reddy’s closed down 4.40% as the top-loser. The stock was bearish from the start after a gap-up opening and pushed the Pharma index down. 

TCS reported their Q4 revenue numbers yesterday, with net profits going up 14% YoY and a Rs 15/share dividend. Markets being the market, TCS fell more than 4% in the day as profits were booked.

The government will soon allow all foreign-made vaccines in India. Vaccines like Pfizer, Moderna, J&J can get completely imported vials or look at manufacturing in India. Pfizer stock is up by 6%. 

After the Government directed SpiceJet to gear up for more vaccine supplies. Stock is up by 2.5%.

With the cabinet soon planning to take up IDBI divestment, stock is up by more than 7.5%.

Adani Green said that 925 MW added to capacity despite pandemic and total operational capacity reached 3,470 MW. The stock closed nearly 1.8% up.

Larsen & Toubro has begun the construction of a 300MW solar plant in Saudi Arabia. The company had also won multiple thousands of crores worth of orders last day. The stock closed up by 2.3%.

Adani Ports closed 1.5% down in the day after being removed from Dow Jones Sustainability Index due to deals with Myanmar Military. The company said its investment decisions in Myanmar were under very different circumstances and all transactions & payments to Myanmar Economic Corporations have been terminated.

Ramco Systems won an order from Exsyn Aviation Solutions for aircraft data migration. Stock is up by 2% in a day where most IT stocks closed in the red.

Private weather forecasting firm Skymet Weather predicted that the 2021 monsoon will be normal. This is good for the country as a whole, since we are an agriculture-based economy. Also reassures growth for stocks linked to the agriculture sector.

Tata Motors has said that Jaguar Land Rover expects to report significant positive free cash flow in Q4. Tata Motors went up more than 5% in the day.

Ashoka Buildcon emerged as the lowest bidder for Gauge Conversion of Bechraji–Ranuj section, a project worth Rs 334 crores. Stock is up by more than 4%.

Markets Ahead

Foreign vaccines will soon be allowed in India. With this, the vaccine shortage in the country could be solved and even vaccination for everyone above 18 could be possible.

Also, the Bombay Municipal Corporation commissioner said that the Covid test positivity rate is down from 27% to 16%. This is really good and considering that he also said that lockdown restrictions will not be as stringent as they were during the first wave, markets took this with a lot of positivity.

Also, indirect tax collection rose 12.3% to Rs 10.7 lakh crore in FY21, which is really good for the country.

As vaccine concerns and lockdown concerns subsided, especially after many industry experts pushing against another lockdown, markets have calmed down.

Bank Nifty closing above yesterday’s high gives some confidence. Considering how Nifty never fails to surprise us, this might actually go either side after tomorrow’s market holiday. 

Going up, we know that 14,620, 14,750 are good resistance. Going down, yesterday’s low will act as a good support.

AstraZeneca and Pfizer have started moving upward, and can be looked at in the coming days. Wonder where Dr Reddy will go now though!

Enjoy tomorrow’s market holiday, and spend time with your family. Hoping the first day of Ramadan fasting is going good. And Keralites do enjoy Vishu celebrations tomorrow while Karnataka celebrates Ugadi today.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Bears returning to the market in style. Markets saw a day of heavy sell-off as lockdown fears spread panic.

Nifty opened the day at 14,655 with a nearly 180 point gap down. After this, Nifty fell 270 points in the first 20 minutes to take support near 14,380. Fresh fall was seen ahead of noon and the index consolidated near the day-low for the rest of the day. Nifty closed the day at 14,310, down 524 points or 3.53% in the day. Nifty has respected some good supports near 14,250 for today.

Bank Nifty opened the day just below 31,700 and fell 850 points in the first 20 minutes. It followed a similar pattern to Nifty and touched a day-low near 30,500. With some last-minute recovery, Bank Nifty closed the day at 30,792, down 1656 points or 5.10%. The index has broken some clear supports on its way down, check 1-day candles.

Every sectoral index closed in the red today. Nifty PSU Bank closed 9% down, followed by Nifty Media and Realty at 7.5-8% down. Nifty Bank, Nifty Auto and Nifty Metal closed down more than 5%. Only Nifty Pharma(down 0.26%) closed flat.

Asian markets closed mixed in the day, although with no major market falling as much as we did. European markets are trading flat at the time of Indian market close.

News Picks

India overtakes Brazil as the world’s second worst-hit country by covid-19, with total cases at 13.53 million. This news, fueled by strong chances of lockdowns pushed panic into the market. 46 out of 50 stocks from Nifty 50 closed in the red.

There are reports that the Maharashtra Government may announce a 15-day lockdown post-Ambedkar Jayanti on Wednesday. 

On the political side of things, BJP’s Karnataka CM has said that the state government could impose a lockdown if the necessity arises. Is this an indication of the central government’s mood too?

Shares of Dr Reddy closed as Nifty’s top gainer, after moving up 5%. The Subject Expert Committee (SEC) has approved Dr Reddy’s application for emergency use authorisation to Sputnik V Covid-19 vaccine. 

Pharma shares including that of Cipla(up 2.19%) went up as the government banned the export of antiviral drug, Remdesivir due to rising Covid cases.

Tata Motors featured as the top-loser in Nifty 50, in a day where even the Nifty Auto index fell more than 5%. Tata Power closed down 11%.

Adani stocks came under strong profit booking, with Adani Enterprises down 11% and Adani Ports down 9.5%.

Dr Lal Pathlab continued to move up to all-time highs, moving up 6.36%.

In a move that will benefit Indian Aluminium stocks, including Nalco and Hindalco, European Union has set tariffs on aluminium products from China after finding they were being sold at artificially low prices.

Metal stocks came under heavy profit booking after last week’s rally. This is also because base metals prices fell on Monday after China’s premier said they will increase control on rising metal prices that have hurt businesses. Nifty Metal closed down 6% in the day.

Markets Ahead

Interestingly, Bank Nifty even with the sharp fall was not the worst hit index of the day. Keeping PSU Banks index aside, Nifty Metal, Nifty Media and Nifty Realty were down 6-8%. 

We had talked on Friday that financials will pull down the market if there aren’t any positive global news over the weekend. And this is what happened, with Asian markets opening in the red today and SGX Nifty falling 200 points.

If Nifty falls below 14,250 we might see even more falls. Does not look like it will be too hard to fall seeing how weak Bank Nifty is.

Lockdown bells ringing around the country are the main cause of concern for the market. As Rajiv Bajaj said in an interview today, there is confusion in the supply chains of all companies including that of Bajaj Auto.

This is what the markets hate, uncertainty. Just a reminder, Nifty has only gone up and up since the 21-day lockdown announced by PM Modi last March 24th. Markets bottomed out on March 23.

We also talked about clear opportunities that would be available in the market despite any falls. Dr Reddy gaining 5% was one such example. The stock had clear strength from the morning and shot up just ahead of market close.

The stock has broken some good resistances, and we may see it move up further in the coming days as Sputnik V finally receives approval. You can also keep a watch out for Pfizer and AstraZeneca stocks.

Also, there are reports saying that the Central government is likely to start vaccination for citizens above 30 years of age soon. 

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty once again had a general day of consolidation even with multiple sectors giving good movements.

Nifty opened the day at 14,884 and fell to 14,800 in the 10 minutes of market opening. It tried to move back up but just mostly consolidated over the day. Even the fall after 1 pm did not have much power. Nifty closed the day at 14,834, down 38 points or 0.26%.

Bank Nifty was bearish in the day, falling nearly 300 points after opening at 32,637. With some power mainly from SBI, the index tried to moved up but could not even reach 33,000 level. Bank Nifty saw consolidation towards the end to close at 32,448, down 334 points or 1.02%.

Nifty Pharma(up 3.04%) was the sector which moved most today, with Nifty PSU Bank also gaining more than 2%. The only other sector to move more than 1% was Nifty Bank(down 1.02%).

Asian markets closed mixed in the day. European markets are mostly consolidating in the day.

News Picks

NITI Aayog and the Finance Ministry may meet on April 14th to discuss the privatization of IOB and Bank Of Maharashtra. Bank Of Maharashtra stock is up by 11%, while IOB gained 12%.

With Chinese Auto sales booming, March Retail passenger vehicles went up 66.4% compared to last year. Tata Motors who has a strong presence in the country with JLR may benefit. Shares closed more than 1% up in a bearish day for auto stocks.

Alkem Lab started commercial production at its Chakan manufacturing facility. Stock is up by 5.2% in a day where other Pharma stocks also did well.

Shares of Angel Broking gained 1.5% after data came out that Goldman Sachs India acquired a 1.59% stake in Angel Broking in the January to March quarter.

Zensar Technologies announced a strategic partnership with US-based Claimatic to offer insurers digital solutions. Stock closed up by 2.15%.

The government asked major pharma companies to boost production of Remdesvir to full capacity by the end of the month. These companies include Cipla(up 4.88%), Cadila(up 9.29%), Sun Pharma(up 3.66%) and Dr Reddy(up 1.52%). This is the main reason for the pharma rally today.

Nifty FMCG index closed up with Hindustan Unilever gaining 2.74% in the day. The stock is at an 11-month high, breaking good consolidation.

The rupee weakening to near Rs 75/dollar rate has also pushed up IT and Pharma stocks in the day. These companies will benefit as they are net exporters and earn mostly in dollars.

Chemical shares generally saw a sell-off in the market, with UPL featuring in the top-losers list.

Markets Ahead

Nifty broke a 3-day green streak to end the week with losses. Most indices saw consolidation with volatility in the day. Nifty Metals closed the week with a 6.6% jump, followed by Nifty IT(up 5.3%) and Nifty Pharma(up 5%).

In a week where Nifty closed in the red, Nifty Midcap and Small cap closed 1-3% up. Was a spectacular week for the smaller stocks in the market.

We had discussed how Nifty could fall yesterday. With Bank Nifty, especially Private Banks continuing to remain weak, the index was pulled down.

The German Health Minister has said that they would need a lockdown to break the current wave. Hopefully, India will not have to go that far. As for Covid news, Amit Shah has said that there is currently no vaccine shortage in India. Johnson & Johnson is also ready to start its vaccine trials in India, with the highlight being that it needs only one shot.

If the global markets do not show some positivity, we might see the weakness in financial stocks pulling down Nifty even more. But the rallies like what happened in Metals yesterday and in Pharma today will keep on happening. Your job is to just identify these.

Also, bond yields in India and the US have fallen. But this did not seem to help the market in any way. 

Over the weekend let’s open some charts and find out good opportunities. There are surely many in the market, as with the rally of sugar stocks last week. So have a cup of tea and chill, and also remember to enjoy your weekend.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty had a highly consolidating first half in the market. But after this, we saw how volatile a weekly expiry can be. Nifty consolidated in a tight range till noon. After this, the index went on to give good movements to both sides.

Nifty opened the day at 14,879 and moved up in the first candle. After consolidating 50 point range for 2 hours, Nifty suddenly fell. From here, it gained back nearly 100 points to go till near 15,000. But after this profit booking kicked in, and the index fell 165 points. Nifty closed the day at 14,873, up 54 points or 0.37%.

Bank Nifty opened the day at 33,181 and went up in the morning. The index fell 400 points till noon then reversed to once again go above 33,200. Just after 1:30 pm, profit booking kicked in and Bank Nifty fell to 32,700. Gained back a few losses to close at 32,782, down 208 points or 0.63%.

Nifty Metal(up 3.92%) once gained moved sharply today. The only other sector to move more than 1% was Nifty IT(up 1.18%).

Asian markets also mostly consolidated. European markets are also mostly trading flat but in the green.

News Picks

Federation of Automobile Dealers Associations(FADA) released its monthly retail sales numbers today. Retail passenger vehicle sales increased even. Commercial vehicles and two-wheelers sales fell sharply. Auto stocks started falling after the report came out.

NBCC and Suraksha Realty have submitted revised resolution plans for the Jaypee Infratech case. NBCC is up by more than 4%.

Minda Corporation has signed a strategic partnership with an Israel based company for the first unique collision avoidance technology for 2 wheelers in India. Minda Corp was up 1.5%.

Metropolis Healthcare has achieved revenue growth of 40% compared to last year. Stock is up by more than 5%.

Metal stocks once again gained sharply in the day. Tata Steel and JSW Steel rallied to close as Nifty’s top gainers.

Cement stocks jumped on hopes of high demand. Shree Cements and Ultratech Cements gained sharply from Nifty 50.

Titan continued its rally from yesterday after they reported strong revenue growth of 60% for Q4 compared to the low base of March 2020. The stock gained nearly 4%.

Petroleum Minister will soon chair a meeting on the ethanol blending petrol programme. Sugar stocks like Shree Renuka Sugars, Dalmia Bharat Sugar and Industries, Balrampur Chini Mills made bull moves in the market.

Markets Ahead

Markets were really boring in the first 2 hours of the day, but after this it turned interesting. There were some really good moves in the market after this including the huge moves in metal stocks. 

It is actually funny to see how Metal stocks have been moving up and up. There are reports coming out that companies have been increasing steel prices non-stop, which is the reason for this rally.

Also, another interesting piece of data could be that Equity Mutual Funds have finally seen a net inflow in March after 8 months of outflows. Net equity inflow at Rs 7,376.1 crore was seen compared to an outflow of Rs 6,889 crore last month. This means that we could be seeing a return of Domestic Institutional Investors’ buying in the market.

While I feel night curfews are useless and do nothing but harm to businesses, Madhya Pradesh has imposed a total weekend lockdown along with Mumbai. This is worrying, and hoping that we won’t see similar moves to go to total lockdowns.

Nifty has closed at somewhat the same range as last Friday unable to close above 14,900. If Banks lose momentum, we might see a fall in Nifty tomorrow. Keep watching Nifty between 14,800 and 15,000.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

The RBI Governor’s announcement after the 3-day Monetary Policy Committee Meeting inspired markets to go up.

Nifty opened the day at 14,726 with a small gap-up and fell nearly 80 points in the first minute. In that very minute, this fall was gained back. From here, the index only went up and up. 14,880 was taken as a resistance for the fourth day since March 23. Nifty then consolidated to close the day at 14,819, up 135 points or 0.92%.

Bank Nifty was more bullish in the day. This index also went down in the first minute. After that, the index went up more than 700 points as banks stabilised after the RBI Governor’s announcements. Bank Nifty closed the day at 32,991, up 489 points or 1.51% in the day.

All sectoral indices closed in the green today. Nifty PSU Bank went up 1.9%, followed by Nifty Auto(up 1.6%), Nifty Bank and Nifty IT(up 1.13%).

Asian markets closed mixed in the day. European markets are also trading mixed.

News Picks

The repo rate was kept unchanged at 4% by the Reserve Bank of India. The central bank decided to retain its ‘accommodative’ policy stance. Real GDP growth is seen at 10.5% for FY’22.

Cholafin gained 7% in the day after partnering with Zoho, Razorpay, Zerodha, Ujjivan and Airpay to submit a New umbrella Entity application on March 31. Click here to read what a New Umbrella Entity is.

Shilpa Medicare said they have the production capacity to make 20 crore doses of the Covid-19 vaccine. Stock is up by 9.8%.

India cabinet is also likely to approve the Production Linked-Incentive scheme for air conditioners and LED lights. Amber closed 1% up after shooting up in the day.

Bombay Municipal Corp chief says issuing orders today to allow round the clock delivery of food & e-commerce. Good for Jubilant Food, Westlife and Burger King and shares moved up near market close.

Barbeque Nation began listed at 1.6% down from IPO price but soon went on to go up 20%.

Dixon Tech and Bharti Enterprises signed a deal to form a joint venture company in order to apply for Govt’s Production Linked Incentive (PLI) scheme for manufacturing of telecom & networking products. Dixon shot up 5% near market close. Bharti Airtel also closed nearly 1.6% up.

Dr Reddy’s Lab launched a generic version of Sapropterin Dihydrochloride powder in the US. Also, the government may give emergency vaccine approval to Sputnik-V soon. Dr Reddy closed 1.6% up in the day.

Steel shares including JSWSteel(up 4.6%), Tata Steel continued to do well in the day. SAIL closed 1.37% down in the day.

Adani stocks came under heavy profit booking but recovered a bit tp close the day with losses. Adani Enterprises was down 4.88%, followed by Adani Ports down 2.49%. ATGL was down nearly 8.5%.

Markets Ahead

The general tone of the RBI Governor’s speech itself gave the market a lot of positivity today. That is why there were only 3 stocks falling more than 1% in Nifty 50. The Governor even talked about constituting a committee to review the working of Asset Reconstruction Companies or Bad Banks. This has been long requested and will give some respite to the country’s lending system. This is why the PSU Bank index went up in the day.

Policy rates being kept unchanged was also welcomed. Worries about a lockdown and night curfew announcements across the country were cancelled off by this positivity.

The next important event to look out for will be the Prime Minister’s Meet with Chief Ministers tomorrow. If all goes well there, we might even see 14,900 being broken in the day.

IT and Pharma shares gained a bit as rupee weakened. Chemical companies also did well, over the whole day.

Looking at a good movement in Bank Nifty tomorrow, as it is the weekly expiry.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

After falling sharply in the first few minutes of market open, Nifty saw a general day of consolidation as we discussed yesterday.

Nifty opened the day with a small gap-up at 14,738 and fell nearly 160 points in the first 5 minutes. From here, market bounced back up and consolidated throughout the day. Nifty closed the day at 14,683, up 45 points or 0.31% in the day.

Bank Nifty opened the day at 32,920 and fell 580 points in the first 5 minutes. But in the next 10 minutes, Bank Nifty jumped up 670 points. Such was the volatility in the morning. After this, the index fell a bit more and consolidated over the whole day. Bank Nifty closed the day at 32,501, down 177 points or 0.54% in the day.

Nifty Pharma was up 1.76% in the day, followed by Nifty Metal(up 1.43%) and Nifty Realty(up 1.17%). All other sectoral indices moved less than 1%.

Asian markets closed mixed with Japan falling over 1.3%. European markets are all trading in the green after being closed yesterday.

News Picks

Adani Ports said it handled cargo volume of 73 Million Metric Tonnes(MMT) in Q4 FY21, up 27% compared to last year. Stock hits an all-time high, closing up by 12.3%.

Realtor Sobha achieved a total sales volume of 13.37 lakh square feet worth Rs 1,072 crore in the quarter ended March. The stock closed up by 15%. 

The Russian Direct Investment Fund has signed an agreement with Panacea Biotec to produce 100 million doses per year of Sputnik V in India. Stock price rocketed by 19.98%.

Flipkart has partnered with Mahindra Logistics as one of its key logistics partners to help fast-track deployment of electric vehicles across its logistics fleet in the country. Stock prices closed in the red after going up nearly 4% in the morning.

Union Bank Of India is looking to digitize and automate its recovery processes. Stock is up by 4.85%.

Power market trades at highest-ever monthly volume of 8,249 Million Units achieving 92% YoY growth in March on increased consumption of electricity. IEX closed 3.8% up in the day.

There were reports saying Defence Research and Development Organisation(DRDO) may allow private firms Bharat Forge to build and produce Missile Systems in India. Share prices closed more than 2% up.

Many Pharma stocks, especially ones with strong drug sales to US closed in the green. Glenmark, CadilaHC, Laurus Labs, Granules were up 3-7% in the day. There were no losers in Nifty Pharma.

As metal stocks continue to go up, shares of HEG(up 18%) and Graphite(up 9%) also zoomed on the back of huge volumes. You can read about the companies here.

Recently IPO done Route Mobile, Happiest Minds, Likhitha Infra went up 5-9% in the day. 

Markets Ahead

Nifty and Bank Nifty looked like they are consolidating in anticipation of a big move as smallcaps and midcaps outperformed. The Monetary Policy Committee(MPC) meeting chaired by RBI Governor has already started, and he will be meeting the media soon to discuss the outcome. 

Markets expect MPC to keep interest rates unchanged, as Covid cases rise in the market. 

Delhi Govt is looking to impose a night curfew from 10 pm to 6 pm. The Gujarat High Court has directed the state to enforce curfew as well.

On the other side of things, Maharashtra has now crossed 80 lakh doses of the vaccine, closely followed by Gujarat, Rajasthan and UP. 

Even with global markets generally looking positive, Nifty consolidated just because of the meeting announcement tomorrow. The Prime Minister is also set to meet Chief Ministers on 7th April, and we may get some important insights. Sources say that the Prime Minister’s office may start vaccinating the younger population as IMA urges the PM to open coronavirus vaccination for all above 18 years.

Keep watching the market tomorrow, and try not to enter a trade between the policy announcements period. High volatility might be seen, especially after today’s consolidation.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty saw huge huge intraday fall in the morning, but went on to gain back some losses. The sell-off was seen across all sectors, but was majorly sponsored by banks. 

Nifty opened the day at 14,850 with a gap-down and made a 100 point red candle. It tried to take support at 14,750 but this was broken too. Nifty touched a day-low of 14,459, nearly 390 points away from the opening level. Nifty closed the day at 14,637, down 229 points or 1.54% in the day.

Bank Nifty was very weak in the day. After opening the day at 33,670 with a 200 point gap-down, the index fell sharply in the first 2 hours of trade. 33,000 was broken easily followed by 32,750. After falling more than 1,500 points(4.6%), Bank Nifty moved up and consolidated. Closed the day at 32,678 down 1179 points or 3.48% in the day.

Only Nifty IT(up 1.97%) and Nifty Metal(up 0.89%) closed in the green. Finance stocks were worst affected, with Nifty PSU Bank down 4% followed by Nifty Bank(down 3.48%) and Fin Services(down 3.25%). Nifty Media was also down more than 3%. 

Those Asian markets which were open traded mixed. European markets were closed today, after Easter.

News Picks

Steel Authority of India(SAIL) recorded its best-ever quarterly sales at 4.27 million tonnes (MT) during the March quarter, up 14% YoY. The stock opened with a 5% gap-up. The company also raised prices of products. Shares closed 7% up.

Adani Ports increased the ownership in Krishnapatnam port from 75% to 100%. The stock closed 0.8% up in the day.

Parag Milk Foods promoter and family to invest Rs 111 crores, maintain stake at 46% as they plan to raise Rs 316 crores by preferential allotment of equity shares. Stock prices closed 3% up.

With all eyes on IT stocks ahead of their results announcements, Nifty IT gained the most in the day. HCLTech, Wipro, Infosys and TechM featured on the top-gainers list. 

Marico says Indian business saw strong double-digit volume growth in the quarter along with their international business. Share prices spiked towards the end of the day, but closed in red.

Britannia featured on the top-gainers list, up by 2.26% after announcing a Rs 62/share interim dividend. The record date is April 10.

Most steel stocks went on to hit fresh 52-week highs after foreign investors were seen raising stakes in the companies. Along with SAIL’s strong production data, steel stocks performed well in the day.

Bajaj Finance and HDFC featured in the top losers section along with many banks.

Shares of Lal Pathlab hit a fresh 52-week high, closing up 6%. The market expects healthy earnings growth, as the company benefits from increased Covid testing in its diagnostic centres and labs. Thyrocare Laboratories was also up 7.42%. PolyMed which manufactures Covid-19 testing kits was up 7%.

FMCG stocks fell in the day, with UBL(down 7.41%), Jubilant Foods(down 3.85%) and ITC(down 3.41%) leading the fall. 

Markets Ahead

Markets opened and fell heavily in the first one hour of trade. 

One major reason was the strict curfew being imposed in Mumbai from April 5. #mumbailockdown was trending on Twitter. While this surely scared investors, it will not immediately affect many industries except hospitality and services.

In fact, the Hotel industry has called the Maharashtra government’s decision to shut dining ‘catastrophic’.

But what caused markets to really worry was India’s Manufacturing PMI for March falling to 7-month low of 55.4 vs 57.5 in February. This took away the market’s hope in economic recovery even with the Finance Ministry saying that economic indicators are looking strong. 

With all these factors combined, financial stocks nosedived in the morning. 

The main sector unaffected was IT, with analysts expecting good Q4 reports. All eyes are on their management commentary on future growth guidances. Infosys has hit a market cap of Rs 6 lakh crore, making portfolios rich again. 

Today’s fall was not expected in the market. But with every stock except financials gaining back sharply, there is still hope. Watching 14,450 as tomorrow’s lower level and 14,750 as upper level in Nifty. We may most likely see consolidation tomorrow if Bank Nifty doesn’t move crazily.

Expecting IT stocks to continue slowly moving up towards the results announcements. Watching into mid-cap IT stocks as well.

Also, applied for the vaccine yet?

Catch you all on The Stock Market Show tonight!