Tag: nifty Bees strategy

Today’s Market Summarised

Bulls being shaken once again in the market.

Nifty opened flat today at 15,038 and started falling sharply. The index fell more than 191 points in the first 25 minutes of opening. Trying to move back up, 14,900 was taken as resistance and the market bottomed out near 14,745. Nifty tried to move up towards the end and closed at 14,929, down 101 points or 0.67%.

Bank Nifty opened the day at 35,483 and fell 680 points immediately. 34,800 was taken as a small support in the day. But the index of banks kept falling and consolidated near 34,500 level for many hours. Towards the end of the day, Bank Nifty went up with the rest of the market to close at 35,182, down 314 points or 0.88%.

Only Nifty Metal closed just more than 1% up. Nifty Media(down 1.44%), Nifty Pharma(down 1.31%) and Nifty Finserv(down 1.24%) were the worst-performing sectors.

Asian markets closed mixed in the day. European markets are all trading flat to green at the time of Indian market close.

News Picks

JSW Steel once again went up to close as Nifty 50’s top gainer. After more than a year in waiting, JSW Steel is looking to close the Rs 19,350 crore acquisition of bankrupt Bhushan Power and Steel Ltd (BPSL) by March 25. 

Tech Mahindra gained 2.33% as they agreed to acquire 70% stake in Perigord Asset Holdings, an end to end packaging supply chain solutions provider to the Life Sciences industry, for €21 million euros.

Shares of smallcap Pritish Nandy communications hit 10% upper circuit after Ratan Tata picked up stake in the company

Shares of JSPL went up more than 2% up in the day after February sales of the company increased 14% YoY. Tata Steel also featured in Nifty’s top gianers.

Deltacorp says online gambling business has huge potential for growth. Casino business back at pre-covid level. Share prices went up 4%. IEX again closed nearly 5% up.

While the IT sector did relatively well over the day, only one stock from Nifty Pharma closed in the green – Lupin up 1.26%.

MTar Technologies listed in the market at Rs 1050, more than 80% gain from its IPO price. Shares closed nearly 90% up from the IPO price.

Markets Ahead

The Netherlands has become the 7th world country to stop the usage of AstraZeneca’s COVID-19 vaccine, pending an investigation into blood clots. As we know, this is one of the main vaccines in our country. This has caused some concerns in the market, but hopefully will be rectified soon.

Markets once again falling after opening, continuing last weeks trend. Was a beautiful shorting chance in the morning, with markets non-stop fall. Similarly, the evening’s non-stop gains. I feel that the rally near market close was possibly Foreign Investors swallowing up shares at cheap prices. Retailers would have squared off with losses after the many days of falls, and the market rallied up near the close.

The second day in red for Nifty. With US Futures in green, along with Nifty reversing near the end of day. Adani Ports, a stock which I follow, saw heavy profit booking over the day and it may continue over the next many trading sessions also I feel. Even PSU Banks index closed in the day, with SBI going up near the end of day. Public banks are on strike today against privatisation.

Expecting this to be just bulls being shaken off before the index moves back up. Will keep watching 14,800 as good support in Nifty. Well, traders will have to trade according to the trend anyway so let us hope for a clear trending market on Tuesday.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

A general day of sell-off in the market.

A day with a big gap-up and a big fall in Nifty. With positive global cues running around, Nifty opened with a more than 100 point gap-up at 15,327. With the index struggling to remain above 15,300, a slow fall was seen in the index. It broke last Friday’s high just after 12 pm and right at 1:30 pm, started falling sharply. It fell 383 points from day high to low. Nifty recovered a bit to close at 15,030, down 143 points or 0.95%.

Bank Nifty opened the day at 36,295 with a gap-up. It too could not sustain and started falling. From day-high to day-low, Bank Nifty fell almost 1,300 points. Interestingly, only 1 out of top 10 losers in Nifty was from Nifty Bank. Bank Nifty closed the day at 35,496, down 441 points or 1.23%.

Nifty Metal(up 1.87%), Nifty IT(up 1.67%) and Nifty Pharma(up 1.48%) performed best in the day. Only PSU Bank(down 0.15%) index closed in the red.

European markets are consolidating in the day along with Asian markets. 

News Picks

Oil marketing companies BPCL and IOC closed as Nifty’s top gainers. BPCL is up after the company said it was considering interim dividend on March 16.

JSW Steel closed in the top-gainers index even with 1% year-on-year fall in crude steel production of the company at 13.06 Million Tonnes. The stock was among last day’s top gainers in Nifty. Titan also closed 0.76% up continuing from last day.

Tata Power closed up 5.5% after reports surfaced that the company was in talks with Tesla to set-up charging infrastructure in the country.

IEX closed 6.59% up in the day, after going up nearly 13% at one point. The stock has been seeing huge buying after closing the deal with ONGC and NSE on selling stake in Indian Gas Exchange.

IDBI Bank shares once again shot up in the day, closing more than 9.8%. Last day, reports surfaced of Government and LIC planning sale of stake in the bank stake to private players.

Apollo Hospitals shot up in the morning and closed more than 2.5% up in the day. Amazon is reportedly in talks to pick up a stake in Apollo’s Pharmacy business.

Markets Ahead

We ended Wednesday’s article with this statement, “After today’s consolidation, we may see some wild movements especially in Bank Nifty who surprisingly moved just over 400 points from high to low.” I expected an 800-900 point movement in Bank Nifty, along with a 200-250 point movement in Nifty. But today’s movements were much more than this. Once it fell and crossed 15,100 there was no looking back.

US 10-year Treasury bond yields went up during our market hours and this was the real reason for today’s fall. We are writing an in-depth article on how and why bond yields affect our markets. Bond yields are up more than 10% from yesterday’s low. European markets were negative, along with negative US futures.

With all these factors there, our markets were in a gap-up so had lot of space to fall. Nifty is down just 0.95% at close. We would not have fallen so much if not for the gap-up. Asian markets may open negative on Monday to compensate for their green closings today. Keep an eye out for SGX Nifty levels if you want to predict Monday’s opening levels of Nifty.

A week of gains surprisingly for Nifty. And hopefully a week of gains for your trading account as well. Enjoy your ‘real weekend’ after yesterday’s mini-weekend!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened the day with a more than 100 point gap-up at 15,205. After opening at this level, it could not sustain much longer and started falling. Till almost 12:15 pm, the index kept falling slowly step by step. But when the index touched 15,100, it reversed and started moving up. It was net consolidation in the day with very slow movements. Nifty closed the day at 15,174, up 76 points or 0.51%.

Bank Nifty opened the day at 36,128 and similarly to Nifty, started falling. It moved in a 420 point range in the day. After consolidating, it tried to move up and close above 36,000 but could not. It closed at 35,938, up 72 points or 0.20%.

Nifty Metal(up 1.87%), Nifty IT(up 1.67%) and Nifty Pharma(up 1.48%) performed best in the day. Only PSU Bank(down 0.15%) index closed in the red.

European markets are consolidating in the day along with Asian markets. 

News Picks

Society of Indian Automobile Manufacturers(SIAM) reported an 18% year-on-year growth in wholesale delivery of passenger vehicles for February month. Auto stocks were generally positive in the day.

With cybersecurity firm QuickHeal announcing a buyback, share prices jumped more than 14% towards the day close.

Titan closed more than 1% up with a company executive saying lower gold prices helped in recovery of demand recovery, and that they expect better margins going ahead.

All IT stocks in the Nifty IT index closed in the green. LTI(up 5.97%) and CoForge(up 5.85%) were up followed by Largecaps. Global IT firms had rebounded yesterday after a week of fall.

Vodafone Idea closed nearly 2% up as company signs deal with Disney+Hotstar to offer live sports.

Metal stocks moved up sharply after 2:30pm. Meanwhile, promoter group of Jindal Steel and Power released pledges on 10 lakh shares yesterday.

Tyre stocks generally went up in the day with Apollo Tyres and JK Tyres said to be thinking of price hikes from this month. 

Infosys promoter group acquired 7.76 lakh shares yesterday. Share prices closed more than 1.5% up in the day.

Dr Reddy shares closed more than 1% up after the phase-3 trials data from the company is expected tomorrow. Audit of API manufacturing plant of the company in New York completed by U.S. FDA.

Government and LIC are planning sale of IDBI Bank stake to private players. Share prices closed more than 5% up.

Graphite electrode producers shares including HEG and Graphite closed 7-8% up with prices of electrodes set to be revised 15-20% higher. 

Logistics companies jumped as government said National Logistics plan is in final stages of release. Blue Dart, Mahindra Logistics, Aegis Logistics, Snowman Logistics all gained 3-5% in the day. 

IEX shares gained more than 2% after the company offloaded 26% shares in Indian Gas Exchange to ONGC and NSE.

Hoping IndiaMart Intermesh jumped 8.5%, and hoping that the rally in the stocks continues into more next week.

Markets Ahead

A very calm weekly expiry in Nifty. Bank Nifty was even more calmer. India VIX, which measures volatility in the market reached 20-ranges, down 9% today.

IT stocks to benefit was a known thing in the day, and anyone who made intelligent use of this could have taken a good trade today. Around this time last week, we had talked about IT stocks set to reverse. Well I acted on my word and exited with some modest gains. Airtel shares had worried me yesterday after breaking the 520-level yesterday, but moved up above it today. Looking for a reversal in the stock.

Midcaps and smallcaps outperformed Nifty today. This is always the trend when benchmark index consolidates.

Well tomorrow is a market holiday, if you did not know already. An extra off-day for market participants to recharge themselves ahead of Friday’s trade. After today’s consolidation, we may see some wild movements especially in Bank Nifty who surprisingly moved just over 400 points from high to low.

Enjoy your mini-weekend from the market.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened the day with a gap-up at 15,059 and went up. It took resistance at yesterday’s high and then fell. 15,100 has been taken as a resistance for the past 3 days. Moving down, the index tried to take support at 15,050 and went down sharply after noon. It even touched a day-low at 14,925. 

What happened after this was very interesting. Just after 1:30 pm, the index moved nearly 200 points up. It even broke the day high. With almost every sector moving up towards the end, Nifty closed at 15,098, up 142 points or 0.95% for the day.

Bank Nifty saw consolidation after the gap-up at 35,718. The index traded between 35,500 and 36,080 as private banks consolidated after their gap-ups. Bank Nifty closed the day at 35,865, up 589 points or 1.67%.

Nifty Financial Services closed more than 2.24% up in the day followed by Bank Nifty at 1.67%. Nifty Metal was down 2.51%, while Nifty Media and Nifty Realty were down more than 1%.

European markets opened in the red, but are now trading in the green. Asian markets closed mixed for the day. 

News Picks

SBI Life and HDFC Life went up after IRDAI data showing strong growth in the Life Insurance sector for February.

Private banks closed in the green after opening with the gap-up. Even though they could have fallen, they did not. This held Bank Nifty up today. 3 out of top 5 gainers were private banks. 

With NASDAQ futures trading more than 2.3% up, IT stocks tried to fly up towards the end of the day. Tech Mahindra appeared in the top-gainers list.

With BPCL Trust selling up to 7% stake in firm on the open market, shares of BPCL fell more than 4.46% in the day. It had opened with a good gap-down.

With NMDC leaving prices of lump iron ore unchanged, shares of the company fell more than 4.85% in the day.

Shares of Dixon closed more than 2% up after the company set 19th March as the record date for 1:5 stock split. It was up 5% up at one point in the day.

Network TV-18 and subsidiary Hathway went up more 6.94% and 8.21% respectively after seeing good buying. Both companies come under Reliance Industries.

Auto stocks fell towards the end of the day as the Federation of Automobile Dealers Associations(FADA) said vehicle registrations fall by over 13% in February. Tata Motors fell more than 1.88%.

Markets Ahead

What a day again in Nifty. Just when we think that it is a bearish day, the index gained more than 200 points with ease in just 2 hours.

Was hoping for a breakout in the pharma index but it was bearish from the start. IT sector stocks were on fire after NASDAQ futures went up more than 2% after many days of profit booking. To be clear, our IT index was not much affected by this global tech sell-off in the past week.

15,100 again acted as a good resistance today, with Nifty closing below it. But the last-minute rally was surely an amazing catch. Would love to see how the index opens tomorrow, with SGX Nifty already over 15,150 now. 

Finance stocks were also in great form today. Out of the Top Eight gainers in Nifty 50 today, 7 were from Nifty Financial Services. Tech M was the only exception. Life insurance stocks were trending after the positive data coming from the industry. Hoping the outperformance will continue.

Metal stocks slipped after Iron ore futures slipped more than 10% in China’s commodity exchange, Dalian. We could see Tata Steel falling more than 4% today. 

Just a reminder that the weekly expiry is on Wednesday, due to markets taking leave on Mahashivratri on Thursday. Premiums of weekly options will behave as if it is a Thursday.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened the day with a small gap-up at 15,004 and tried to go up. It quickly went up to hit the day high around 10 am but could not sustain and fell. Asian markets were falling around this time and our markets fell too. Nifty then traded between 15,050 and 14,918 to close the day slightly in green at 14,956, up 18 points or 0.12%.

Bank Nifty opened at 35,429 and went up nearly 400 points from this level. With private banks falling sharply after this high, Bank Nifty fell to take its strong support near the 35,000 range. It tested this day low multiple times, and closed at 35,275, up 47 points or 0.14%.

Only Nifty Media closed with more than 1% gains. Nifty Realty lost more than 1%. Every other sectoral index closed with consolidation.

European markets are consolidating. Asian markets closed mixed with wild up and down movements. 

News Picks

With an outlook to open 4 new hospitals in the next 4 years, Apollo Hospitals is looking to raise $400 Million(~Rs 2,920 crore) by issuing bonds.

With it being that the crude oil price rise is here to stay, ONGC and IOC featured in the top-gainers of the day. Both ONGC and GAIL hit fresh 52-week highs today. Global oil prices are at their highest levels in more than a year after Yemen’s Houthi forces fired drones and missiles at the heart of Saudi Arabia’s oil industry on Sunday.

Larsen & Toubro shares closed more than 3.5% up after Morgan Stanley continued their confidence in the company. Lower interest rates, high capital expenditure and Make in India will benefit the company.

BEML shares hit 20% upper circuit after at least six companies, including Tata Motors Ltd, Mahindra and Ashok Leyland are looking to buy a 26% stake in the PSU.

Tata Motors shares spiked for a short time as the company announced it was separating its passenger vehicles business. Shareholders are believed not to be affected by the move. Last day, Jaguar Land Rover had laid off more than 30% of its India staff.

Shares of Power Finance Corporation(PFC) closed more than 4% up after the company decided to meet on March 12 to consider dividend for FY’21.

SBI Cards rose 1% in the market today. The company plans to raise up to Rs 2,000 crore through the issuance of debt securities.

Tata Power shares closed more than 1.5% up as the plans to separate renewables business into a different company. Also, Maharashtra Govt has announced mega electric charging centres to be set up at Rs 9,453 crore budget.

Maharashtra Budget announced many new initiatives. Along with this, Rs 30,418 crores in agriculture debt is set to be waived off. UPL closed up 6.5% as the top gainer, although other fertilisers did not. Tractor manufacturer Escorts was up more than 1.5% up along with M&M(up 1.26%).

Infra stocks remained in the green after Indian Roads Minister said target to develop 60,000km length of National Highways in next 5 years. IRB Infra closed nearly 9% up at a 7-month high. GMR Infra up 1.45%. You can also check out PSP Projects here.

Markets Ahead

Nifty has managed to close in the green with only marginal gains. Bank Nifty also saw a rangebound movement today. Even though all indices tried to move up today, they failed.

Pharma was really trying to move up today, so hoping that they will break out tomorrow if markets stay stable.

15,100 looks like a good resistance. Nifty closing above this zone will bring some confidence into the index. Looking in to mid and smallcap stocks as Nifty continues consolidation. 

Tata midcap stocks are particularly in focus for the past 3 months and rightfully so. Just like how Adani stocks continued their rally for many months, Tata stocks including Tata Chem, Voltas and others may continue to move up along with others.

Saudi being attacked has caused an increase in crude prices. With this, we can see our petrol prices also going to increase soon. Fill up your fuel tanks or go long on crude to protect against this(just a joke, not financial advice).

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened the day with a gap-down at 14,996 and tried to move up. But after touching a day-high in the early part of the day, it moved down and consolidated. Nifty moved sideways and fell 170 points after European markets opened at 1:30 pm. 14,950 acted as good support and the index closed just below it at 14,933, down 142 points or 0.95%.

Bank Nifty too opened with a gap-down at 35,222 and consolidated. It traded sideways and even broke 35,000 in the day. But the index of banks moved up after this fall, and closed at 35,228, down 574 points or 1.6%.

Every sectoral indices in NSE closed in the red today. Nifty PSU Banks(down nearly 4%) and Nifty Metal(down 2.7%) were the top losers.

All Asian and European markets are in the red today, with fear of higher bond yields again killing global markets. 

News Picks

As crude oil prices once again increased, shares of ONGC and GAIL featured among the top-gainers in Nifty 50. Global crude oil prices are at a 14-month high.

Metal stocks fell sharply after going up last week. Arcelor Mittal owned by Billionare Lakshmi Mittal has revived plans for entering the Indian market with a Rs 50,000 crore investment with Odisha for steel plant.

Wipro fell more than 4% after the company’s deal for acquiring Capco was not well received by the market. It was a deal worth more than Rs 10,000 crore. For the first 2 years, profit and margin will be affected because of the acquisition.

Kotak Bank was the only gainer in Bank Nifty today going up more than 1.3%. We had discussed about how the bank has signed a deal to handle the salary accounts of Indian Army personnel.

Tata Motors shares fell 2.67% as Jaguar-Land Rover sales fell in the UK yesterday.

Gold prices hit a 9-month low today, down 11% in just 2021. Share prices of gold loan companies Muthoot and Manappuram Finance were down 1.89% and 4.22% respectively.

India VIX was up 6% today, after being up 10% yesterday.

Shares of Heranba listed at Rs 900 against IPO price of Rs 627. Closed at Rs 825 for the day. Today is the last date to apply for MTar IPO.

ICICI General Insurance shares gained more than 1% as the company announced a Rs 4/share interim dividend.

Markets Ahead

We had talked about how gold prices were falling yesterday. Today it reflected in prices of gold loan companies fell as investors get scared of high level of defaults. Imagine if you took a loan for Rs 50,000 by keeping Rs 60,000 worth of gold as collateral. If that gold is worth only Rs 40,000 today, won’t you not repay that loan? This is why investors of Manappuram and Muthoot are scared. Banks too face such a problem but they are not heavily dependent on gold prices. For example, 90% of Muthoot Finance’s assets are in gold loans.

Crude oil prices falling earlier were because of expectations that The Organization of the Petroleum Exporting Countries(OPEC) would increase outputs. But OPEC made the unexpected decision to NOT increase production, even asking New Delhi to  ‘use the cheap oil bought last year’. So you and I may not see petrol prices falling anytime soon. 

Anyway, another week has come to an end. Hope everyone has the perspective of this week’s returns made from market this week. If not, you can try out Tradebook in the marketfeed app.

Rising bond yields are yet to cool down, and once it does, markets may stabilise. Last Friday, Nifty had witnessed a great fall. Hoping that in the coming days, we can see slight pullbacks. Also, Nifty Smallcap gained 4% this week while Nifty Midcap gained 3.5%. Consolidation in Nifty, but broader markets performed well.

Looking forward to an even better next week. Have a cup of tea and enjoy the weekend, but don’t forget to also open some charts and mark some good opportunities.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

A crazy crazy day in the market. Indian markets after global markets went down following rising US Bond Yields again. Then markets remained very volatile in the day, moving up and down sharply over the course of the day.

After opening with a nearly 200 point gap-down at 15,064, Nifty tried to go up and took resistance at 15,100. From there it fell more than 120 points to even break the 15,000 level. But soon support was taken and Nifty started moving up slowly. 

The index even touched a high of 15,200 after 1 pm. But when European markets opened, Nifty lost its power and moved down more than 130 points. Nifty closed the day at 15,080, down 164 points or 1.08%.

Bank Nifty too opened with a nearly 500 point gap-down today. It came down and tested 35,500 and slowly started moving up. The index moved 800 points in 3 hours to touch its day-high. But Bank Nifty calmed down towards the end of the day to close at 35,802, down 565 points or 1.56%.

Only Nifty Media(up 1.6%) and Nifty Realty(up 0.11%) closed in the green today. Nifty Metal was down more than 2%. 

Most Asian markets are trading in the red today. European markets are also trading in the red at the time of Indian market close.

News Picks

Shares of Cement companies hit fresh highs, as prices of the commodity continued going up. Ultratech Cement closed as Nifty 50’s top gainer with 4.23% gains. ShreeCem and Ambuja Cements also gained more than 3% in the day. 

Shares of CONCOR closed more than 6.4% up in the day as Jefferies increased price target to Rs 700. The PSU stock has been rallying ever since the budget week, and is soon rumoured to be privatised.(incorrectly written IRCON earlier).

Adani Ports jumped 3.1% as the market reacted positively to the company acquiring a stake in Gangavaram port.

Metal stocks closed in the red, cooling off after yesterday’s rally.

UK New Car Sales In February Fell By Roughly 36% YoY. Worst fall in February Since 1959. Tata Motors closed more than 2.67% down as they have exposure through Jaguar-Land Rover. UK JLR Sales for February at 2171 Units vs 2929 Units(YoY).

Shares of IEX jumped 4.4% as the company saw 50% YoY volume growth in February in the electricity market.

Ind Hotels was once again up by more than 3%, after the services PMI yesterday looked positive.

Shares of IRCTC touched a historic mark of Rs 2,000 and closed 3% up. Yesterday, they had said that Golden Chariot services will be open from March 14.

Tata Power Delhi Distribution and Australian tech firm Power Ledger yesterday announced the launch of the first live peer-to-peer solar energy trading project in Delhi. Tata Power shares were up 3% in the day.

MTAR IPO has been 9 times oversubscribed in the 2nd day. You can read more about the company here.

Shares of Dilip Buildcon jumped nearly 10% in the last 40 minutes of trade after receiving Letter Of Acceptance (LoA) From Mahanadi Coalfield Limited for project worth Rs 36,900 crores.

Shares of both Mahindra Logistics and Bajaj Electricals jumped after signing a Rs 1,000 crore deal.

Markets Ahead

HDFC, HDFC Bank and Reliance pulled down Nifty by around 90 points out of the total 164 point fall. Such an interesting day with the high volatility in the index. India VIX was up nearly 10%, meaning that fear in the market increased.

With this, Nifty has broken its 3-day winning streak and closed at last Thursday’s close. That means from the last expiry to this expiry, Nifty moved just 10-20 points. Remember that the low of this period is 14,460 and the high is 15,280. A range of more than 800 points. But net consolidation in the market.

Bond yields becoming a concern seems to be only a short term phenomenon. Markets will factor in this soon and start moving up once again. But make sure that as traders, you don’t get stuck at one side of the market and always trade with the trend.

Global crude oil and gold prices are decreasing. We might see this reflecting on the retail market soon if anyone was planning on stocking up.

Waiting to see how the next expiry treats us!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Once again a bullish day in Nifty. 

After opening with a gap-up at 15,064, Nifty formed a few red candles to start the day. Support was taken at 15,000 and the index moved back up with a lot of power. Reliance and Banks equally pushed the index up along with IT stocks. After consolidating near 15,100, the index kept moving up. Nifty closed the day at 15,245, up 326 points or 2.19%.

Bank Nifty was generally bullish in the day. After opening with a gap-up at 35,762, it went slightly down like Nifty. After consolidating near 36,000, the index went up to its day high and consolidated for the last 2 hours. Bank Nifty closed the day at 36,368, up 948 points or 2.68%.

Nifty Metal and Nifty PSU Bank performed the best(both over 3% up), after underperforming for the last 2 days. Nifty Financial Services was up 2.78%. Nifty IT, Nifty Pharma and Nifty Realty closed more than 1% up. Only Nifty Auto closed in the red, down 0.66%.

All Asian and European markets are trading in the green today.

News Picks

Metal stocks rallied after state-owned iron ore miner, NMDC said it has registered growth during the month of February 2021 both in terms of production and sales performance as compared to the year-ago period. Iron ore production for Feb 2021 grew 19% YoY to 3.86 million tonnes (MT). Sales increased 12% YoY for the same period.

Tata Steel, Hindalco and JSWSteel featured in Nifty 50’s top gainers.

Financial stocks, including banks were trending today. We could see Bajaj Finance and Finserv on the top gainers along with HDFC. SBI Life was also up.

Housing finance stocks including LICHsgFin, Indiabulls Hsg Finance and HDFC were up after Kotak Bank’s Ambuj Chandna said that he does not see margin dropping even with such low interest rates, and has seen growth in home loans in the last 2 quarters. This is probably why financial stocks outperformed, as well.

Tata Power has signed a deal with Tata Steel to develop 15 MW solar project in Jamshedpur. Both shares were up around 5%, with Tata Steel being Nifty 50’s top gainer. On an unrelated note, Tata Chemicals also was up 5% today. 

Services sector stocks including Indian Hotels(up 3%) jumped as PMI data showed growth. Services PMI jumped to 55.3, with the help of recovering domestic demand.

MTAR IPO has opened today. You can read more about the company here.

Reliance is back in power, featuring on the top gainer’s list today. Shares closed above Rs 2,200 for the first time since last October.

Markets Ahead

With all the power from every sector, Nifty broke 15,000 with much more ease than I thought it would. It has also been taken as a good support today before Nifty moved up another 250 points.

IT and Pharma stocks continued their slow movement upwards. Infosys was up nearly 3% and is ever so closer to its 52-week high. I think this will be taken out soon.

What is interesting is how much power Nifty has? Remember Friday’s fall of 568 points? Well, that is all gone right now. Nifty has even gained back more than that. Such is the power of the bull market we are in right now. It is like the index does not want to consolidate at all, moving up sharply.

On a side note, the Nifty Midcap index has hit a fresh all-time high today lead by none other than Adani Enterprises(up 5%). I feel like Adani Ent is like that big guy in the kids game. With an ever-growing market cap, it could soon move into the big boy’s game, Nifty 50.

What we see on Wednesday’s are usually high volatile days. But India VIX is down another 6% to 22. Looking forward to tomorrow’s weekly expiry.

A new round of stimulus and benefits is set to be announced in the UK by Rishi Sunak in his Covid-budget plan. This is what is taking European markets up. Dow Futures are also up, let us see if our markets continue the rally.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty opened the day with a gap-up at 14,834 and went up with almost every index moving up. It even crossed 14,900 but soon came down with heavy sell-off in banks. After taking perfect support at 14,760, Nifty started moving back up with the power of IT, Auto, FMCG and Pharma stocks.

Up until the last hour, I thought it was a day of consolidation in Nifty. A last-minute burst in every index including Bank Nifty pushed Nifty up 150 points in 30 minutes. Nifty closed the day at 14,919, up 157 points or 1.07%

Bank Nifty was generally bearish through the day but closed flat. After opening with a gap-up at 35,484, the index of banks went up 300 points in the first 20 minutes. It then kept on falling to take support perfectly near 35,000. Bank Nifty moved up in the last 2 hours to close at 35,419, up 123 points or 0.35%.

All major sectoral indices(except PSU Bank index) closed in the green today. Nifty Auto was up 3.19%, while Nifty IT was up 3.04%.

Asian markets closed mixed in the day. European markets turned green and are currently trading flat after opening below.

News Picks

Tata Motors continued its rebound from 300 levels, gaining 5.32% in the day. It was boosted by the February sales data of the company which came in at a 9-year high. The company put out a positive statement in reply to the Delhi Govt’s removal of subsidies on Nexon EV saying that range depends on riding style and many other factors.

With the company once again posting good tractor and passenger vehicles sales numbers, M&M went up nearly 5% in the day. Global ratings agencies including Morgan Stanley and CLSA maintained bullish view on the stock.

BPCL shares shot up 3% after the company exited Numaligarh refinery in Assam by selling it to Oil India and Engineers India for Rs 9,876 crore. Investors are expecting a high dividend payout after this sale, along with a push for privatisation.

JustDial shares are up 20% again today. The stock has gained more than 50% in the last 5 days. 

Adani Ports is set to develop the West Container Terminal at Colombo Port and is said to have received approval from Sri Lankan Govt. The company also handled higher cargo volume of 21.12 Million Metric Tonnes in February, up 8% YoY. Shares were up 4% today.

IT and Pharma stocks were generally up in the day. They were trading bearish for the past week and a reversal was expected. Shares of Infosys, Tech Mahindra and Wipro showed up in the top-gainers list of Nifty. Dollar prices have also reached back to above 73 levels vs the rupee, which is good for IT and Pharma. We even talked yesterday about this. 

Cochin Shipyard and Mazagon Dock shares once again closed 4-6% up in the day. PM Modi while speaking at the Maritime India Summit laid out big for India’s shipbuilders and ports. Many new orders are expected for both companies soon. Shipping Corporation of India gained 20%.

Trent once again closed 9% up after being added to F&O stocks list on NSE. LTI gained 6.23%, LTTS closed 6.89% up and were also added on the list.

Markets Ahead

Markets continued on its path of recovery, and is set to meet 15,000 once again. SGX Nifty is trading near that level currently. This will surely be an important level and may take some time to be broken. Looking back down 14,760 and 14,630 are good zones to watch out for.

Expecting Bank Nifty to keep moving with volatility like always.

IT stocks have begun their move back up. TCS and Infosys together contributed nearly 60 points to Nifty today. Major tech stocks are 5-10% lower than their 52-week highs and we may see these levels being reached soon if general market helps.

The National Real Estate Development Council(NAREDCO) has said that the worst is over for the industry. Meanwhile, lenders warned the council against increasing prices as it may hurt demand. 

Real estate is indeed an important sector for the economy as a lot of financial institutions lend to both common people and giant builders. So if this industry is doing well, then it would be a huge relief to Banks and other financial institutions.

The 4G spectrum auction is closing today. Airtel has acquired Rs 18,000 crore worth of airwaves to benefit 9 crore more users. All spectrum bought by the company can also be used for 5G. Bharti Airtel shares closed more than 1% up in the day. Looks at a good level, after last day’s heavy sell-off by a foreign investor brought prices down.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

With global markets going green, Nifty opened the day with a gap-up at 14,708 after Friday’s fall. It then went up to touch even 14,800 levels before falling to the day low again. Nifty then consolidated to close at 14,761, up 232 points or 1.60%.

Bank Nifty moved similarly in the day. After opening at 35,375 with a gap-up, the index struggled to go up and touched 35,581 then went back down. It even broke the day-low but went back up and closed at 35,296, up 492 points or 1.41%.

All sectoral indices closed more than 1% up in the day. Nifty Media went up 4.31% today mainly on the back of ZEEL and TV18Broadcast rally. Nifty Auto was up 2.38%.

All global markets were in green today, gaining between 1-2.5% after Friday’s sell-off.

News Picks

Power stocks resumed their rally today. PowerGrid closed at 6% up as Nifty’s top gainer. NTPC gained 1%. India’s power consumption grew just a bit, marginally up by 0.88% in February compared to last year.

RailTel shares again hit their 20% upper circuit in the day closing at Rs 145. Major funds including Morgan Stanley had picked up lakhs of shares after the company got listed on Friday. The stock looks good for long term, along with IRFC which went up 5% today.

JustDial shares are up 13% again today. Let us see what happens in the future. Another IndiaMart loading?

Cement stocks including Shree Cements and UltraTech Cements closed among Nifty’s top gainers. This happened as most companies increase the prices of cement in South India.

India VIX calmed down a bit, nearly 9% to 25.6 level. Market volatility seems to have cooled off a bit.

Shares of Bharti Airtel closed as the only losing stock in Nifty 50. It closed down 4.33% today, after a bulk sell of by Integrated Core Strategies of 3.7 crore shares.

RITES and Bharat Dynamics moved up 4-6% each after both companies received significant fresh orders.

Fertiliser stocks continued their dream rally today. UPL was up 5%, RCF was up 20% and FACT was up 20%. Deepak Nitrate went up 15% and National Fertilisers went up 20%. While addressing an audience, PM Modi said the time has come to increase the private sector’s participation in agriculture sector R&D.

New stocks were added to the F&O list today and many of them performed well. IRCTC was up 12% in the day, along with Deepak Nitrate at 15%.

Shares of PVC Pipe companies jumped after the 3rd price hike in last few months. Astral Poly gained more than 3% in the day. Supreme Industries up 2.5%.

Auto sales data has started to come out. Tata Motors reported a 54% YoY increase in total domestic sales 58,473 units, also their best passenger vehicles sales in nearly 9 years. Atul Auto reported a 45% total rise in sales to 1,613 units and stock price moved up 8%. Maruti(up 2%) and Ashok Leyland(up 0.8%) also posted good results.

TVS Motors reported 18% YoY increase in total sales and stock price went up more than 3%.

Sterlite Tech jumped more than 4% after the company won over Rs 730 crore worth of orders from West Asia and Africa.

Markets Ahead

Markets have rebounded today and closed with consolidation. The move from Friday would’ve scared many investors but a pullback was sure. The only question is will Nifty sustain these levels.

The HDFC twins can be looked at for reference. Just before the markets fall last week, they had begun their own falls. Today they were the ones pulling Nifty up by 54 points.

14,800 was taken as a good resistance today and can be watched in the upcoming days. 

US stimulus has been passed by the House and every single Democrat will need to vote for it to pass the Senate. This does not look easy. Meanwhile, shares of GameStop or GME had peaked again on Thursday and Friday last week. Seems to have cooled down now. Might become an issue for financial markets if it continues to move back up.

Auto sales data also looks promising, especially for India’s own Tata Motors and Mahindra. Auto ancillary stocks benefit whichever company posts good sales, and rightfully MotherSumi jumped 8% in the day. Bosch, MRF, Amaraja and Exide India also gained between 1.5-2.5% today. This shows a good trend and if the semiconductor issue is sorted out worldwide, these stocks will see a sharp rally.

Looking at dollar prices falling, waiting for it to help IT companies’ stocks rebound.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

What a day in Nifty. Pure bloodbath from the first minute of the day.

Nifty opened with a nearly 200 point gap-down at 14,899. And then it continued to move down through the day. With every sector pulling the index down, it kept on falling with no supports. And just when we thought it was over, Nifty fell another 200 points between 3 pm and 3:20 pm. Nifty closed near the day low at 14,529, down 568 points or 3.76%.

Bank Nifty fell nearly 5% in the day! Can you believe that the index which was at 37,000 levels is back to under 35,000. Most top draggers of Nifty today were banking stocks. After opening with a huge gap-down at 35,902, Bank Nifty fell sharply. It is back to levels of 4th February.

In fact, Bank Nifty fell 600 points in the last 30 minutes. The index closed at 34,803, down 1745 points or 4.78%.

Fin Nifty and Bank Nifty fell most in the day. All sectoral indices closed in the red.

Many Asian markets were in deep red today, led by Japan at nearly 4% down. European markets opened with a gap-down but have recovered quite a bit now.

News Picks

No stock in the Nifty 50 index closed in the green today. One of the most surprising moves in the market today was SAIL’s rally up of 4.58%.

Shares of RailTel listed on the markets today after a very successful IPO. RailTel Corporation of India shares has risen 33.5% intraday on its listing day despite Nifty’s fall.

JustDial shares gained 6% in the first few minutes of the day but fell more than 10% after. It had gained 20% yesterday following the launch of B2B JD Mart. HDFC Mutual fund sold a 2.73% stake yesterday at the high for over Rs 108 crore.

HDFC Bank and Kotak Mahindra Bank have bought 10% stake each in Ferbine Private Ltd, a company promoted by Tata Sons. Ferbine was incorporated only on January 18, 2021, to make an application to RBI for the PUE (pan-India umbrella entity) licence. Is this Tata’s year as a whole?

India VIX rose by more than 23% to 28 today, as a result of wild movements in Nifty. India VIX is also known as the fear index and shoots up when the market is volatile. 

Shares of theatre companies INOX and PVR slid as rumours of the Maharashtra govt planning to close all cinema halls. But they recovered as BMC Chief said no such order has been passed yet.

Auto shares fell sharply in the day even with the government finalising Auto sector’s Production Linked Incentive(PLI) for auto and auto components. Maruti has cut production targets by 50,000 units and expects semi-conductor shortage to become a big issue, despite saying earlier that it won’t. Auto index is at a more than 1-month low.

Cement companies are looking to hike prices by Rs 25-40/bag in South India due to higher inputs costs and high demand. Can be looked into for the short term.

Markets Ahead

With the huge fall in Dow Jones yesterday, as we discussed in the pre-market report, Nifty too witnessed a huge fall today. It was the biggest intraday fall in 9-months, since May 2020.

Definitely a good day in the market to start thinking about your favourite stocks. Interestingly because Nifty Midcap and Nifty Smallcap indices did not fall as much, I feel that this is a discount sale, at least for me it was. Dow Futures have gained sharply from their day-low.

Added a few Nifty ETFs with nearly 50% of my available capital. The only variable is our GDP Data coming in a few hours, so it was a risky but calculated bet I would say. Hoping that global markets go green over the weekend.

It was not a great week for the markets with Wednesday’s NSE shutdown, yesterday’s consolidated expiry and today’s sharp fall. Will be long known as a black week for India’s financial markets.

Anyway, another week has gone by. Time to think about whatever we have learned over the week and to use it effectively going forward. Keep a lookout for good charts on your favourite stocks and also have a hot cup of tea to end this week right.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Markets moved on from the NSE crash yesterday. 

Nifty opened with a gap-up at 15,080 and moved up strongly with the help of banks. But it cooled down soon after touching 15,170 and went back down as banks fell. It still did not break the opening level as auto and metals helped the index move up. Nifty closed the day at 15,097, up 115 points, or 0.77%.

Bank Nifty opened the day with a gap-up at 36,779 and went up. It even crossed the 37,000 mark but was not able to sustain. It fell slowly to even cross the opening range. Bank Nifty took support near yesterday’s high and closed at 36,549, up just 96 points or 0.27%.

Metals index performed the best in the day by going up nearly 4%. Nifty Realty also went up 1.68%. Media stocks performed well, with Nifty media up more than 1%. No other sector or index closed below or more than 1% up or down.

All Asian markets closed in the green. European markets are trading mixed at the time of the Indian market close.

News Picks

Shares of Coal India flew up again to close as Nifty’s top gainer, up more than 8%. It took the metal index up as well.

With Heranba IPO being oversubscribed 77 times on its last day, fertilizer stocks rallied. And who better to show it than Nifty 50’s UPL, up 7%. RCF or Rashtriya Chemicals and Fertilisers closed 20% up.

Metals stocks performed well in the day once again with only Hindustan Zinc closing flat. Hind Copper again hit 10% Upper Circuit, followed by Hindalco, NMDC and JSWSteel who gained between 3-5%. 

Shares of BHEL saw a high volume breakout closing up nearly 10%. BEL closed more than 4% up in the day.

Reliance was the top puller of Nifty, contributing 64 points to today’s 114 point movement. Saw a high volume breakout above 2100. Is this the start of a bigger rally?

Shares of Nureca listed on the market today with a 58.74% premium to the issue price of Rs 400/share. Shares immediately hit the upper circuit and closed the day at Rs 666.

Shares of Tata Chemicals hit an all-time high, gaining nearly 100% in the last 1 month alone. Was for long known as an undervalued stock but is now unlocking its value. Definitely, one we should have in our portfolio for the LONG term.

After Just Dial announced its B2B sales platform, JD Mart, share prices went up to hit 20% upper circuit. IndiaMart’s success in the space could have made the company look into online B2B sales. Hoping share prices will also give the success that India Mart gave.

The government brought in more regulations for social, digital and streaming media providers, commonly known as OTT Platforms. One good thing that happened is the government allowing platforms to self-review their age-based content by setting up a self-regulatory body.

Wipro is said to be under regulatory scanner for being involved in Citibank’s $900 Million transfer by mistake issue.

Auto stocks went up as well with Tata Motors closing near its 52-week highs again.

Markets Ahead

Another monthly expiry closing in gains for Nifty. Excited to see what the market has in store for us the next month. 

Nifty went up today with the power of Reliance alone, that is what you can understand if you look at the top pullers and draggers of today. The index closing near 15,100 is also giving me confidence that bullishness has indeed returned. If Reliance returns to full power and crosses its all-time high, Nifty would soon see higher highs. Ambani surely does have the power, just has to shake off the problems from farm protests and Future Deal.

Hoping that you have Adani Ports in your long term portfolio. It has gone up nearly 5-6% even today. Think about getting it in a dip. Check out this article to understand why!

PSU rally continues to get interesting. Even today 4 out of the top 10 gainers were government-run. Hoping that they do well and start creating wealth for its investors, including the government. 

Fertiliser stocks rally may also continue. Also, run and try applying for the Heranba IPO if you have not. It will close at 5 pm!

Catch you all on The Stock Market Show tonight!