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Daily Market Feed Post Market Analysis

Sideways Weekly Closing! Where Will Nifty Go Next? – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day flat at 19,809. The index mostly moved in a small range of 40 points throughout the day between 19,780 and 19,820. Nifty closed at 19,794, down by 7 points or 0.04%.

Nifty chart November 24- post-market analysis | marketfeed

BANK NIFTY (BNF) started the day flat at 43,607. After a small consolidation initially, the index moved up to the 43,700 resistance level, consolidated again, gave a breakdown and fell till opening levels. It again shot up and crossed the day’s high to 43,800. BNF closed at 43,769, up by 191 points or 0.44%.

Other indices except Nifty IT (-0.97%), Nifty FMCG (-0.47%), and Nifty PSU Bank (-0.34%) closed in flat-to-green. Nifty Pharma (+0.87%) moved up the most.

Major Asian markets closed mixed. UK’s FTSE100 is currently trading in the red, while Germany’s DAX and France’s CAC40 are trading in the green.

Today’s Moves

Cipla (+2.39%) was NIFTY50’s top gainer. HSBC maintained a “Buy” rating on the stock.

Shares of public sector insurance firms New India Assurance (+19.98%), General Insurance Company (+16.46%), and LIC (+9.71%) surged today amid a strong outlook.

HCL Tech (-1.49%) was NIFTY50’s top loser. 

Shares of CG Power (-6.7%) came under selling pressure today. Earlier this week, the company announced plans to set up an outsourced semiconductor assembly & test facility in India.

Warren Buffet’s Berkshire Hathaway has sold its stake in Paytm (-3.34%).

Markets Ahead

The indices had a week marked by volatility and consolidation. There was buying observed at lower levels and rejection at higher levels. The direction of the market’s future movement will likely be determined by a breakout or a breakdown on Tuesday. The Indian stock markets will be closed on Monday (November 27) on account of Gurunanak Jayanti.

Nifty: The index currently has immediate support around 19,800. A breakdown from this level could potentially lead to a decline to 19,700 and 19,630 levels. On the other hand, the resistance to keep an eye on is approximately 19,860. A breakout from this level might pave the way for targets of 20,000.

Bank Nifty: A significant resistance level to monitor in BNF is 43,800. A breakout from this level could potentially trigger targets around the round level of 44,000. Meanwhile, the immediate support is situated near 43,600 levels. If there’s a breakdown from this support, the index may decline to 43,500 and 43,200 levels.

Please join The Stock Market Show at 7 PM on our YouTube channel.

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Market News Top 10 News

RBI Imposes Rs 2.5Cr Fine on L&T Finance – Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

RBI imposes ₹2.5 crore fine on L&T Finance

The Reserve Bank of India (RBI) has imposed a penalty of ₹2.5 crore on L&T Finance Ltd for non-compliance with certain norms concerning non-banking financial companies (NBFCs). The RBI reported that the NBFC did not disclose info about the gradation of risk and rationale for charging different interest rates to different categories of borrowers in its loan application forms.

Read more here.

JSW Steel Q2 results: Net profit at ₹2,760 crore

JSW Steel Ltd posted a net profit of ₹2,760 crore for the quarter ended September (Q2 FY24); beating street estimates. The steel company posted a net loss of ₹848 crore in Q2 last year. Its consolidated revenue from operations rose 7% YoY to ₹44,584 crore in Q2 FY24. EBITDA stood at ₹7,886 crore, up 350.11% YoY.

Read more here.

Adani Group refinances $3.5 billion debt taken for ACC-Ambuja buy

The Adani Group is to sign a definitive agreement to refinance $3.5 billion of loans taken for last year’s acquisition of ACC Ltd and Ambuja Cement. At least 18 global banks have agreed to join the consortium led by Barclays, Deutsche Bank, and Standard Chartered. The Adani family will prepay around $300 million. This will also be the largest refinancing exercise across the Asia Pacific this financial year.

Read more here.

Paytm Q2 Results: Net loss narrows to ₹290 crore

One97 Communications Ltd (Paytm) reported a net loss of ₹290 crore for the quarter ended September 2023 (Q2 FY24). Net loss stood at ₹357 crore in the same period a year ago. Its revenue from operations rose 32% YoY to ₹2,519 crore in Q2 FY24. EBITDA stood at ₹153 crore, up 82% YoY. 

Read more here.

Godrej Properties’ subsidiary gets ₹260Cr GST demand order

Godrej Properties’ subsidiary, Godrej Landmark Redevelopers, received an order from tax authorities over an alleged non-payment of Goods & Services Tax (GST). The notice is concerning one of the projects developed by the company. The Additional Commissioner, CGST, Navi Mumbai, has issued the order with a GST demand of ₹129.39 crore along with interest and a penalty of ₹129.39 crore.

Read more here.

Hindustan Zinc Q2 Results: Net profit falls 35% YoY to ₹1,729 crore

Hindustan Zinc Ltd reported a 35% YoY decline in consolidated net profit to ₹1,729 crore for the quarter ended September 2023 (Q2 FY24). Its revenue from operations fell 16% YoY to ₹6,619 crore during the same period. EBITDA stood at ₹3,139 crore, down 24% YoY.

Read more here.

Titagarh Rail Systems secures ₹350Cr contract from Gujarat Metro

Titagarh Rail Systems Ltd (TRSL) secured a ₹350 crore contract from Gujarat Metro Rail Corporation (GMRC). TRSL will design and manufacture 30 standard gauge cars for the Ahmedabad Metro Rail Phase-II Project. The prototype has to be delivered within 70 weeks from the Letter of Acceptance (LOA) and delivery completion will be 94 weeks from the LOA. These metro cars will be manufactured at the company’s facility in Uttarpara, West Bengal.

Read more here.

Kotak Bank gets RBI approval for acquisition of Sonata Finance

Kotak Mahindra Bank has received approval from the Reserve Bank of India (RBI) for its ₹537 crore acquisition of microlender Sonata Finance. The approval is for acquiring 100% of the issued and paid-up capital in Sonata. RBI has allowed Kotak to make Sonata as its business correspondent subsidiary, and the entity will now be a wholly-owned subsidiary of Kotak Mahindra Bank. 

Read more here.

Samvardhana Motherson announces three acquisitions

Samvardhana Motherson International Ltd (SAMIL) has made three acquisitions valued at over ₹380 crore in the aerospace, health and medical sectors to strengthen its non-automotive businesses. The aerospace division of the company is building its capabilities in a phased and strategic manner, enabling it to offer a much wider range of services to aerospace original equipment manufacturers (OEMs).

Read more here.

ONGC to acquire PTC India’s power generation subsidiary

PTC India’s board has approved a bid submitted by ONGC Ltd for the acquisition of a 100% stake in its wholly-owned subsidiary, PTC Energy Ltd (PEL), for ₹925 crore. PEL has a renewable energy portfolio of 288.8 MW, consisting of 50 MW wind power projects in Madhya Pradesh, 50 MW wind power projects in Karnataka and 188.8 MW wind power projects in Andhra Pradesh. PEL recorded revenue from operations of ₹296.77 crore during FY23.

Read more here.

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Market News Top 10 News

Infosys Posts 3% YoY Rise in Q2 Net Profit – Top Indian Market Updates

infosys | market updates

Here are some of the major updates that could move the markets tomorrow:

Infosys Q2 Results: Net profit rises 3% YoY to ₹6,212 crore

Infosys Ltd reported a 3% YoY increase in consolidated net profit to ₹6,212 crore for the quarter ended September 2023 (Q2 FY24). Its consolidated revenue rose 7% YoY to ₹38,994 crore. Infosys adjusted its revenue guidance for FY24. The company now anticipates revenue growth in the range of 1-2.5% in constant currency terms. The IT major has announced a dividend of ₹18 per equity share.

Read more here.

India’s CPI inflation eases to three-month low at 5.02% in Sept

India’s retail inflation eased to a three-month low in September, led by lower vegetable prices. The Consumer Price Index (CPI)-based inflation stood at 5.02% in September, compared to 6.83% in August. Food inflation fell to 6.56% in September, against 9.67% in August.

Meanwhile, India’s industrial output as measured by the Index of Industrial Production (IIP) stood at 10.3% in August 2023.

Read more here.

RBI likely to complete vetting bidders for IDBI Bank by Oct-end

The Reserve Bank of India (RBI) is expected to accelerate a key process of vetting IDBI Bank’s potential buyers and complete it by October end, helping speed up the sale of a majority stake in the lender. The Central Govt, which holds 45.48% of IDBI Bank, and LIC, which owns 49.24%, plan to sell 60.7% of the lender. RBI began the vetting process known as ‘fit and proper criteria’ in April.

Read more here.

HCL Tech Q2 Results: Net profit rises 9.8% YoY to ₹3,832 crore

HCL Technologies Ltd reported a 9.8% YoY increase in consolidated net profit to ₹3,832 crore for the quarter ended September 2023 (Q2 FY24). Its consolidated revenue rose 8% YoY to ₹26,672 crore. In USD terms, HCL Tech’s revenue grew to $3,225 million, up 0.8% QoQ and 4.6% YoY. The IT major’s board has declared an interim dividend of ₹12 per share.

Read more here.

JLR sales grew two-fold to 2,356 units in H1 FY24

JLR India reported a 105% year-on-year (YoY) increase in total sales to 2,356 units in the first half of the financial year 2023-24. Of these, 1,000 units were of the Defender which is currently the brand’s best-selling model. The strong half-yearly growth was driven by record sales in both quarters, with Q2 witnessing a 108% YoY growth and retails of 1,308 units.

Read more here.

Maruti Suzuki to consider equity issue to parent Suzuki

Maruti Suzuki India Ltd will consider issuing equity shares on a preferential basis to its parent company, Suzuki Motor Corp., in a board meeting on October 17. The move is for acquiring a 100% stake in Suzuki Motor Gujarat Pvt Ltd, subject to the approval of the members through postal ballot and all regulatory compliance. At present, Suzuki Motor Corp. holds 100% of the Gujarat manufacturing facility.

Read more here.

Ircon granted ‘Navratna’ status

Ircon International Ltd. was granted the status of a ‘Navratna’ by the Department of Public Enterprises on Thursday. It’s the 15th central public sector enterprise to receive the status of a ‘Navratna’. Ircon is a Central Public Sector Enterprise (CPSE) under the Ministry of Railways, with an annual consolidated turnover of ₹10,750 crore and a net profit of Rs 765 crore for FY23.

Read more here.

RBI imposes ₹5.39 cr penalty on Paytm Payments Bank

The Reserve Bank of India (RBI) has imposed a penalty of ₹5.39 crore on Paytm Payments Bank Ltd for non-compliance with certain provisions, including Know Your Customer (KYC) norms. RBI also found non-compliance with certain provisions related to ‘RBI Guidelines for Licensing of Payments Banks’, ‘Cyber security framework in banks’ and ‘Securing mobile banking applications including UPI ecosystem’.

Read more here.

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Market News Top 10 News

Maruti Suzuki Plans Capex of Rs 1.25 Lakh Cr Till FY31 – Top Indian Market Updates

"Bangalore, India - January 29, 2013: Signage at a car showroom belonging to Maruti Suzuki India Ltd. in Bangalore, India. The company is a subsidiary of Japan's Suzuki Motor Corporation, and has been the leader in the Indian car market for two and half decades with a capacity of 1.7 million cars annually."

Here are some of the major updates that could move the markets tomorrow:

Maruti Suzuki plans total capex of ₹1.25 lakh crore till 2030-31

Maruti Suzuki India is planning capital expenditure (capex) of up to Rs 1.25 lakh crore until 2030-31. The company’s strategy involves expanding its current product lineup from 17 models to 28 while increasing its production capacity. The automaker aims to have a total production capacity of 40 lakh units annually by 2030-31.

Read more here.

Prepared with business continuity plan for Haifa port: Adani Ports

Adani Ports & Special Economic Zone Ltd (APSEZ) said it is closely monitoring the conflict concentrated in south Israel, whereas its Haifa Port is situated in the north. The overall contribution of Haifa in APSEZ’s numbers is relatively small at 3% of the total cargo volume. We remain fully alert and prepared with a business continuity plan that will enable us to respond effectively to any eventuality,” APSEZ’s spokesperson said in a statement.

Read more here.

Inox Green Energy to divest 100% stake in Gujarat wind farm

Inox Green Energy Services (IGESL) has signed a term sheet to sell its 100% stake in Nani Virani Wind Energy Pvt Ltd (NVWEPL) as part of a strategy to become debt-free. NVWEPL owns a 50MW operational wind farm in Gujarat. The wind farm was commissioned in May this year.

Read more here.

ITC Hotels brand ‘Storii’ to set up presence in West Bengal

ITC Hotels announced the signing of its first ‘Storii’ property in Kolkata, West Bengal. The property will be located near the metropolis and is expected to open in early 2024. It will have 30 keys/rooms. ITC Hotels has three ‘Storii’ properties present in Goa and Dharamshala.

Read more here.

Magenta Mobility partners with Tata Motors to deploy EVs

Magenta Mobility has signed a Memorandum of Understanding (MoU) with Tata Motors to deploy 500 Ace EVs for last-mile delivery services. With Tata Motors, Magenta aims to drive sustainability in intra-city logistics in India by reducing the carbon footprint in the last-mile and mid-mile freight segment. 

Read more here.

Paytm introduces guest checkout solution

Paytm Payments Services Ltd (PPSL) has introduced an Alternate ID (ALT ID)-based Guest Checkout solution for merchants, enhancing cardholder safety and streamlining transactions.  With this solution, customers can make purchases as guests without storing sensitive card information on e-commerce/merchant websites. PPSL is a wholly-owned subsidiary of One97 Communications Ltd (which operates Paytm). 

Read more here.

SC to hear Jet Airways lenders’ plea against JKC on Oct 12

The Supreme Court (SC) indicated it would hear the plea by grounded airline Jet Airways’ lenders on October 12. The lenders are challenging the National Company Law Appellate Tribunal’s (NCLAT) order granting Jalan Kalrock Consortium (JKC) more time to make payments to them. JKC is the successful bidder for Jet Airways.

Read more here.

Premium collection falls for life insurers in August

Premiums in the life insurance sector witnessed a drop of 13% year-on-year (YoY) to ₹30,716 crore in September 2023. Life Insurance Corporation’s (LIC) premium collection in September dropped by 27% YoY. The life insurer’s premium collection fell 25% YoY in the first half of FY24. LIC has lost 9.7% market share in the first six months of FY24 over last year.

Read more here.

Fitch upgrades Tata Steel rating to ‘BBB-‘

Tata Steel Ltd’s (TSL) long-term issuer default rating was upgraded to investment grade by Fitch Ratings with a stable outlook, following less uncertainty and financial risk from its UK operations. Fitch Ratings upgraded the issuer default rating from BB+ to BBB -. It also raised the rating on Tata’s $1 billion notes due July 2024 issued by unit ABJA Investment Co. to BBB- from BB+. 

Read more here.

Cipla stake sale plan faces hurdle as promoters differ on valuation: Report

According to an ET report, the stake sale plan of Cipla Ltd has come across a hurdle as the promoters are reportedly not aligned with the common valuation. Differences among founders may lead to a delay in the deal until a common consensus is reached over the valuation. Cipla’s promoter group currently controls around 33% of the company’s shares. Reports have said that the family members could sell some or all of their stakes in Cipla.

Read more here.

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Daily Market Feed Pre Market Report

Green Opening Loading. Watch out for Reliance AGM! – Pre-Market Analysis Report

jio financial services pre-market report | marketfeed

Here are some of the major updates that could move the markets today:

Stocks

Reliance Industries will be in focus ahead of the 46th annual general meeting(AGM) today. It will be at 2 PM.

The removal of Jio Financial Services from Sensex and other BSE indices has been postponed to September 1st. It will be taken off from NIFTY 50 on August 29th.

BEL has received new defence and non-defence orders worth Rs 3,289 crore during July and August. BEL has now received orders of Rs 11,380 crore in current financial year.

What Happened on Friday?

NIFTY started the week at 19,320 and slowly moved up till Wednesday. On Thursday, the market opened with a big gap up and hit an intraday high of 19,584 before falling heavily. Friday saw a gap-down opening and another weak closing. NIFTY closed the week at 19,265, down by 55 points or 0.28%.

BANK NIFTY started the week at 43,935 with a small gap-up. After two normal days, Wednesday was a big green candle day in the index. After hitting a weekly high of 44,949 on Thursday, the index fell back sharply by nearly 1,000 points. BANK NIFTY closed the week at 44,496, up by 296 points or 0.67%. 

U.S. markets closed in the green on Friday. The European markets also closed slightly in the green.

What to Expect Today?

The Asian markets are trading in the green.

The U.S. Futures are trading slightly in the green.

GIFT NIFTY is trading slightly in green at 19,272.

All the factors combined indicate a gap-up opening in the market.

NIFTY has supports at 19,240, 19,200 and 19,120. We can expect resistances at 19,360 19,400 and 19,500.

BANK NIFTY has supports at 44,150, 43,950, 43,840. Resistances are at 44,520, 44,600 and 44,800.

FINNIFTY has supports at 19,550 and 19,500. Resistances are at 19,700, 19,735 and 19,800.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,000. PCR is at 0.67.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is also at 44,000. PCR is at 0.81.

FINNIFTY has the highest call OI buildup at 20,000. There is high put OI buildup at 19,600. PCR is at 0.86.

Foreign Institutional Investors net-sold shares worth Rs 4,638 crores in the week. Domestic Institutional Investors net-bought worth Rs 1,414 crores for the week.

INDIA VIX is higher, at 12.08. 

Markets worldwide are in the green as Fed Chair Jerome Powell pointed to signs of continued economic growth and strong consumer spending but indicated that the central bank would “proceed carefully” with additional interest rate hikes.

Reliance’s AGM is expected to bring in volatility to the stock. Do watch out for crazy moves, in fact, avoid it if you can at 2 PM.

This week is already expected to be volatile, so let’s see what happens with today’s gap-up. There is heavy call writing near the spot price for NIFTY, so it will be interesting to see how the market behaves in case of a gap-up.

Considering all international markets are green, we can expect NIFTY to show bullishness today. A close above 19,400 is essential to display stability.

Bank NIFTY and FINNIFTY are currently showing more strength than NIFTY. So do watch out for afternoon strength in these indices.

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app, or our website for trades!

Make sure you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Global Markets Down Ahead of Fed Chair Speech – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Paytm’s promoter Antfin is likely to sell a 3.6% stake today at a floor price of Rs 880.10 per share.

Astra Microwave Products has bagged orders worth Rs 158 crore for the supply of satellite sub-systems, airborne radar and sub-systems of radar and EW projects, from DRDO, ISRO and other Defence PSUs.

The Government of Singapore bought Amber Enterprises shares worth Rs 113 crores via open market transactions.

Telecom data for the month of June showed both Reliance Jio and Airtel adding subscribers, while Vodafone Idea continued to lose subscribers.

What Happened Yesterday?

NIFTY started the day at 19,535 with a gap-up of 91 points and moved up. But from the day-high, it gave a fall of 200 points and gave a very bearish closing below 19,400. NIFTY closed at 19,386, down by 57 points or 0.29% 

BANK NIFTY started the day at 44,704 with a gap-up of 225 points. After the initial strength, the index fell 500 points from the day’s high to 44,430 levels. BANK NIFTY closed at 44,496, up by 17 points or 0.04%. 

U.S. markets closed in the red. The European markets closed flat to red.

What to Expect Today?

The Asian markets are trading in the red.

The U.S. Futures are trading flat.

GIFT NIFTY is trading slightly in red at 19,275.

All the factors combined indicate a gap-down opening in the market.

NIFTY has supports at 19,360, 19,300 and 19,240. We can expect resistances at 19,400, 19,438, and 19,500.

BANK NIFTY has supports at 44,277,  44,150 and 44,100. Resistances are at 44,600, 44,800 and 44,950.

NIFTY has the highest call OI build-up at 19,500. The highest put OI build-up is at 19,000. PCR is at 0.59.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is also at 44,000. PCR is at 0.86.

Foreign Institutional Investors net-bought shares worth Rs 1,524 crores. Domestic Institutional Investors net-bought worth Rs 5,796 crores.

INDIA VIX is at 11.70. 

Yesterday was a very volatile day in the market. Early short covering and then heavy selling came and took the markets down heavily.

Huge block deals also kept FII buying numbers in the green, despite the market falling.

The U.S. market also opened well in the green after good results but fell heavily towards the end of the day. Markets around the world are looking ahead to an important speech from Fed Chair Jerome Powell at Jackson Hole.

Big stocks, including Reliance, showed a lot of volatility yesterday. Note that the Crude Oil prices are cooling down internationally.

I hope you kept your capital safe in yesterday’s tricky moves. Congrats to whoever came out profitable. 

We expect an even crazier monthly expiry next week, with a volatile trading session today!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app or our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Market News Top 10 News

Reliance Retail Launches Yousta Brand – Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

Reliance Retail launches youth-centric fashion brand ‘Yousta’

Reliance Retail has launched its youth-centric fashion brand ‘Yousta’. It also opened its first store in Sarath City Mall, Hyderabad. The Yousta range is also available on e-commerce platforms Ajio and JioMart. The new brand boasts of having contemporary tech-enabled store layouts while promising high-fashion at affordable prices targeted at young consumers.

Read more here.

Reliance Jio, Bharti Airtel add 36 lakh subscribers in June

Reliance Jio added the highest number of wireless subscribers in June 2023, while financially struggling Vodafone Idea continued to lose ground. Jio added 22.7 lakh subscribers in June, taking its total subscriber tally to 43.9 crore. Bharti Airtel added 14.1 lakh subscribers, and its total wireless subscriber base stood at 37.4 crore. Vodafone Idea lost 13 lakh subscribers during June, and its total subscriber base shrank to 22.9 crore. 

Read more here.

Dutch group threatens lawsuit over Tata Steel pollution

FrisseWind.nu foundation (representing at least 1,400 people) took the first steps toward a lawsuit against Tata Steel, alleging it is responsible for pollution near Amsterdam that has caused illnesses for residents. Tata Steel’s massive plant at the mouth of the IJ River has come under increasing fire from residents and health authorities, who accuse it of being the main source of contamination in the air, soil and water.

Read more here.

Hindustan Zinc to ramp up zinc production to 1.5 MT

Hindustan Zinc Ltd (HZL) chairperson Priya Agarwal Hebbar said that the company will ramp up production of zinc to 1.5 million tonnes (MT). HZL is the second largest zinc-lead miner in the world after Swiss firm Glencore and the fourth largest zinc-lead smelter globally. It has now also broken into the top 10 list of silver producers in the world.

Read more here.

Tata Power partners with Zoomcar to promote EV adoption

Tata Power EV Charging Solutions has partnered with car-sharing platform Zoomcar to promote electric vehicle adoption. The collaboration aims to promote Tata Power’s EZ Charge points on the Zoomcar platform. It will focus on supporting existing and aspiring EV owners along with Zoomcar’s existing customers.

Read more here.

USFDA issues ‘EIR’ for Torrent Pharma’s manufacturing facility

The US Food & Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) for Torrent Pharmaceuticals’ manufacturing facility in Dahej, Gujarat. EIR means the closure of inspection. The drug regulator had conducted a re-inspection of the site in May this year from May 17-25 and issued Form 483 with 2 observations.

Read more here.

SBI attracts top distressed asset buyers’ interest for bad loans: Report

According to an ET report, several global and local distressed asset investors are considering buying some of State Bank of India’s (SBI) bad loans put up for sale in the financial year that began in April. Earlier this month, SBI identified a list of 331 non-performing assets with a combined outstanding value of ₹96,000 crore. Investors that have expressed interest include New York-based Cerberus Capital Management LP and Hong Kong-headquartered SC Lowy.

Read more here.

AntFin plans to sell 2.27 crore shares of Paytm

Chinese fintech giant Ant Financial is looking to offload a 3.6% stake or 2.27 crore shares in digital payments firm Paytm through block deals on August 25. Citigroup has been appointed as the broker for the deal. The transaction’s floor price has been established at ₹880 per share.

Read more here.

Tata Comm plans to raise ₹1,750cr via NCDs

Tata Communications plans to raise ₹1,750 crore through the issuance of non-convertible debentures (NCDs). The date of allotment of NCDs is August 29, and they will mature after three years of the allotment date. The NCDs will be listed on the wholesale debt market segment of the National Stock Exchange.

Read more here.

Gujarat Ambuja Exports gets GPCB approval for new plant

Gujarat Ambuja Exports Ltd (GAEL) has received clearance from the Gujarat Pollution Control Board (GPCB) to set up a greenfield corn-wet milling plant at Himmatnagar, Gujarat. The proposed facility would have the capacity to process corn up to 900 tonnes per day (TPD). GAEL is one of India’s leading manufacturers and exporters of cotton yarn, maize starch, liquid glucose, etc. 

Read more here.

HDFC Bank’s asset quality continues to be stable: Official

Asset quality of the HDFC Bank continues to be stable even as many of its peers are facing challenges, said the bank’s head for payments business and consumer finance Parag Rao. He added that the bank is witnessing “good traction” on the Unified Payments Interface (UPI) for credit cards. Rao did not share the exact number of NPAs (bad loans) from the credit card business, but added that the number is half of that of its nearest competition.

Read more here.

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Daily Market Feed Pre Market Report

Easy FINNIFTY Expiry? – Pre-Market Analysis Report

FINNIFTY expiry - pre-market analysis

Here are some of the major updates that could move the markets today:

Stocks

Lemon Tree Hotels has signed license agreements for two properties in Bhubaneswar and Kasauli under Lemon Tree Hotel and Lemon Tree Mountain Resort, respectively.

Brigade Enterprises has bought 6.54 acres of land in Chennai. The company will develop a residential project on the said land.

Paytm’s 23rd Annual General Meeting (AGM) is scheduled to be held on September 12.

Adani Enterprises’ promoter firm Kempas Trade and Investment bought 2.53 crore shares (2.22%) in the last 2 weeks.

Adani Power has targeted a total capacity of 21,110 MW by FY29, with net senior debt expected to increase next year.

What Happened Yesterday?

NIFTY started the day flat at 19,320 and kept taking 19,300 as support. After 2 rounds of bounces from the support, the index gave a good up move to 19,420. NIFTY closed at 19,393, up by 83 points or 0.43% 

BANK NIFTY started the day at 43,952 with a 100-point gap-down. The index was overall bullish after 10 AM, and respected 43,960 zones. A breakout above 44,100 was not formed and BANK NIFTY closed at 44,002, up by 150 points or 0.34%. 

U.S. markets closed flat to green. The European markets closed mixed.

What to Expect Today?

The Asian markets are slightly in the green.

The U.S. Futures are trading flat.

GIFT NIFTY is trading flat at 19,389.

All the factors combined indicate a flat opening in the market.

NIFTY has supports at 19,360, 19,300 and 19,240. We can expect resistances at 19,400 19,438 and 19,500.

BANK NIFTY has supports at 43,960, 43,830 and 43,680. Resistances are at 44,100, 44,150 and 44,277.

FINNIFTY has supports at 19,500, 19,450 and 19,400. Resistances are at 19,623, 19,700 and 19,735.

NIFTY has the highest call OI build-up at 19,400. The highest put OI build-up is at 19,300. PCR is at 0.96.

BANK NIFTY has the highest call OI build-up at 44,000. The highest put OI build-up is also at 44,000. PCR is at 1.00.

FINNIFTY has the highest call OI build-up at 19,800. The highest put OI build-up is at 19,500. PCR is at 0.96.

Foreign Institutional Investors net-sold shares worth Rs -1,901 crores. Domestic Institutional Investors net-bought worth Rs 626 crores.

INDIA VIX is at 11.96. 

The current expectation of the week remains consolidation with NIFTY moving up by just 0.4% yesterday.

Even though the market did not fall till 19,240 yesterday, DIIs supported it and kept it “stable”. FIIs continue to sell for thousands of crores.

FINNIFTY’s expiry is expected to be consolidation, going by the current market trend. You can look for trades using the levels we talked about above as an indication.

While the general market is consolidating, midcap and smallcap indices are near their all-time highs. Usually what happens in markets like these is, NIFTY consolidates while smaller stocks rally.

Both NIFTY and BANK NIFTY are trapped in a consolidation range in the daily charts, as well. So you can easily trade with these limits as an option seller! Have a safe trading day!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app, or our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

Sideways Trend in NIFTY for the Weekly Expiry? – Pre-Market Analysis Report

sideways trends - pre-market report

Here are some of the major updates that could move the markets today:

Stocks

Power Grid has successfully commissioned assets under the government’s North Eastern Region Strengthening Scheme-VI.

Paytm’s investor Antfin has offloaded 6.53 crore equity shares or a 10.3% stake to promoter Vijay Shekhar Sharma. This makes the founder & CEO, the biggest shareholder at 19.3%.

Aurobindo Pharma is launching an HIV triple combination product for children in low and middle-income countries, under a licence from a U.K. pharma company.

Reports suggest that the govt plans to sell shares of IRFC through an offer for sale (OFS).

What Happened Yesterday?

NIFTY started the day at 19,369 with a gap-down of 65 points. It started moving up after the initial red candles and tried to break yesterday’s high. NIFTY closed at 19,465, up by 30 points or 0.16% 

BANK NIFTY started the day at 43,726 with a gap-down of 364 points. The index faced strong rejection from the 44k zone when trying to move back up. BANK NIFTY closed at 43,946, down by 144 points or 0.33%. 

US markets closed in the red. The European markets closed mixed.

What to Expect Today?

The Asian markets are trading in the red.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in the red at 19,394.

All the factors combined indicate a gap-down opening in the market.

NIFTY has supports at 19,400, 19,360, 19,300 and 19,240. We can expect resistances at 19,438, 19,560 and 19,620.

BANK NIFTY has supports at 43,960, 43,840, 43,750 and 43,680. Resistances are at 44,277,  44,520, and 44,800.

NIFTY has the highest call OI build-up at 19,600. The highest put OI build-up is at 19,300. PCR is at 1.05.

BANK NIFTY has the high call OI build-up at 44,000 and 44,500. The highest put OI build-up is at 43,800. PCR is at 0.82.

Foreign Institutional Investors net-sold shares worth Rs 722 crores. Domestic Institutional Investors net-bought worth Rs 2,406 crores.

INDIA VIX is at 12.12, the first time since May. The VIX in the U.S. market is also up.

The U.S. market continued to move down yesterday night after Fed Minutes once again confirmed a high chance of more rate hikes. The Fed also sees no recession in the 2023 forecast.

NIFTY respected all our major levels yesterday. And with the last 2 day candles, NIFTY is at the same level as Friday’s close. So till now for the week, NIFTY has had consolidation.

With today’s gap-down expected at 19,400, we should have a watch out for 19,300 as the first support. I would wait for the initial few candles before taking a position. Watch out for BANK NIFTY’s 43,680 level as well.

For the 3rd weekly expiry in the August series, let us hope the market will trade between 43,500-44,100 in BANK NIFTY and 19,250-19,550 on NIFTY.

And do remember, since it is an expiry day you can expect some volatility. So keep your eyes on the major levels and watch out for big candles!

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app or our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Daily Market Feed Pre Market Report

NIFTY Back to Consolidation Zone. SBI Results Out Today – Pre-Market Analysis Report

Here are some of the major updates that could move the markets today:

Stocks

Bharti Airtel registered a profit of Rs 1,612.5 crore for Q1, falling 46.4% QoQ impacted by a one-time foreign exchange loss of Rs 3,416 crore.

Eicher Motors has registered its highest-ever quarterly revenue, EBITDA and profit. Profit shot up 50.4% year-on-year to Rs 918.3 crore

Paytm has recorded merchant payment volumes at Rs 1.47 lakh crore for July 2023, growing 39% YoY. The loan distribution business is growing at 148% YoY.

LIC Housing Finance registered a 43% YoY growth in profit at Rs 1,323.7 crore for the quarter, beating estimates.

Hindalco Industries has won the bid to mine the Meenakshi West coal mine in Odisha.

Titan reported a 4% fall in net profit at Rs 753 crores. Margins of the company fell.

Indigo reported a net profit of Rs 3,090 crore, beating street estimates. Revenue jumped up 30% YoY.

HPCL reported a net profit of Rs 6,765.5 crore for Q1, v/s net loss of Rs 8,557.12 crore last year. It is still lower than expected as margins fell.

Major results today: State Bank of India, M&M, Britannia Industries, Shipping Corp, IDFC, Devyani International

What Happened Yesterday?

NIFTY started the day at 19,463 with a gap-down of 62 points. Initially, the index tried moving up, but 19,500 now turned into resistance. Failing to break the level, a crash without a retracement to 19,300 was seen. NIFTY closed at 19,381, down by 144 points or 0.74%. 

BANK NIFTY started the day at 44,862 with a gap-down of 132 points. It tried moving above 45,000 but found resistance. A fall of 750 points was seen after which BANK NIFTY closed at 44,513, down by 482 points or 1.07%. 

What to Expect Today?

US markets closed in the red. The European markets also closed in the red.

The Asian markets are trading mixed.

The U.S. Futures are trading slightly in the green.

GIFT NIFTY is trading slightly in the green at 19,486.

All the factors combined indicate a flat to gap-up opening in the market.

NIFTY has supports at 19,300, 19,240 and 19,200. We can expect resistances at 19,438, 19,513, and 19,566.

BANK NIFTY has supports at 44,280, 44,150 and 44,000. Resistances are at 44,600, 44,900 and 45,229.

NIFTY has the highest call OI build-up at 19,500 and 20,000. The highest put OI build-up is at 19,400 and 19,200. 

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 45,500. 

Foreign Institutional Investors net-sold shares worth Rs -317 crores. Domestic Institutional Investors net-bough worth Rs 1729 crores.

INDIA VIX cooled 9% to 11.18.

The international markets did not show strength or a bounce back yesterday, even though NIFTY held on strong till noon. But just after noon, the 19,400 level was broken and another quick 100-point fall was seen. A bounce is what we expected but breaking important levels meant more fall.

NIFTY has now fallen 3% from its all-time high.

Support was taken at the level of 19,300 which was the level from early July in NIFTY. Bank NIFTY has reached back to early June consolidation levels.

You can expect consolidation from these zones with a very low chance of falling below 19,000. A quick rally back to all-time highs is not expected unless triggered by huge FII buying.

Otherwise, expecting a trading range of 19,100-19,650 for this week which will change according to market conditions.

Watch out for SBI volatility around the results, this may create some buzz!

We will be entering our new Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) today. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

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Market News Top 10 News

FTSE to Replace HDFC with HDFC Bank Post Merger – Top Indian Market Updates

Here are some of the major updates that could move the markets on Monday:

FTSE to replace HDFC with HDFC Bank post merger

According to a report by Nuvama Alternative & Quantitative Research, FTSE Global Equity indices is expected to replace HDFC Ltd with HDFC Bank. HDFC Ltd is part of the FTSE indices, while HDFC Bank is not a member. FTSE will continue with the current free float shares of HDFC Ltd in the indexes and rename the constituent with HDFC Bank’s name. This will result in no weight changes in the indexes. The move could lead to a potential inflow of around $1.3 billion.

Read more here.

RIL & BP commence production from third deepwater field in India’s KG D6 block

Reliance Industries Limited (RIL) and British Petroleum (BP Plc) have commenced gas and condensate production from the MJ field followed by testing and commissioning activities. RIL is the operator of the KG D6 block with a 66.67% participating interest, and BP holds a 33.33% participating interest. The start of gas and condensate production from the MJ field follows the start-up of the R-Cluster field in December 2020 and Satellite Cluster in April 2021.

Read more here.

Bharat Electronics receives defence and non-defence orders worth Rs 2,191 crore

 Bharat Electronics Ltd (BEL) has received new defence and non-defence orders worth ₹2,191 crores. The orders are for the supply of Long Range Guidance Kit with Warhead, Airborne V/UHF Jammer, Battlefield Surveillance Radar (Short Range) Upgrade, Missile Guidance Radar & Control Centre, Upgraded Radio Relay (F) with Data Modem Encryption Unit Mk II, Identify Friend or Foe Mk XII A, Anti-Submarine Warfare Shallow Water Craft (ASW SWC) Sonar and Spares.

Read more here.

Jubilant Food pushes deadline to restructure overseas arms to June 2024

Jubilant FoodWorks Ltd is postponing the completion deadline to restructure overseas subsidiaries. The internal restructuring is now likely to be completed by June 2024. The date was set earlier for June 2023. The company stated in a regulatory filing that the move comes due to certain regulatory requirements.

Read more here.

India’s April-May fiscal deficit at Rs 2.1 lakh crore

According to the Controller General of Accounts (CGA), the Indian government’s fiscal deficit at the end of May stood at 11.8% of the full-year Budget Estimates (BE) for 2023-24. The net tax revenue was ₹2.78 lakh crore (~11.9% of the BE). Its total expenditure was ₹6.25 lakh crore, approximately 13.9% of the estimates presented in the Union Budget for the current fiscal.

Read more here.

Paytm partners with Shriram Finance to boost loan distribution business

Paytm’s parent company One 97 Communications Ltd has announced its partnership with the non-banking financial company (NBFC) Shriram Finance. Paytm will offer loan products of Shriram Finance on its platform to further expand its listings. The deal will combine Paytm’s large user base and digital loan distribution technology with Shriram Finance’s good geographical reach, deep risk understanding, and collections capabilities.

Read more here.

Kalpataru Projects International wins new orders worth Rs 1,008 in India, overseas market

Kalpataru Projects International Ltd. (KPIL) has secured new orders worth ₹1,008 crores. The company and its subsidiaries have received new contracts worth ₹635 crores in the transmission and distribution (T&D) business in its Indian and overseas markets. Additionally, the company has won orders worth ₹373 crores in civil works for its buildings business in India.

Read more here.

Shree Cement’s arm begins trial production at clinker grinding unit in West Bengal

Shree Cement’s subsidiary Shree Cement East Pvt Ltd has started trial production at its clinker grinding unit in West Bengal. The new unit has a capacity of 3 million tonnes per annum (MTPA). The company’s total cement capacity, including its subsidiary, has increased to 49.90 MTPA.

Read more here.

L&T Technology Services partners with Palo Alto Networks for 5G, OT security offerings

L&T Technology Services Ltd has partnered with cybersecurity firm Palo Alto Networks. The partnership aims to provide enterprises with security services and solutions in 5G and Operations Technology (OT) areas. LTTS mentioned that the collaboration offers scalable and real-time security measures for 5G networks. This provides the customers with enhanced visibility and control over their network slices, private networks, and multi-access edge computing.

Read more here.

ABB India awarded electrification and automation contract for ArcelorMittal Nippon Steel

ABB India has won the contract to provide electrification and automation systems for ArcelorMittal Nippon Steel India’s advanced steel cold rolling mill (CRM) in Hazira, Gujarat. The contract at the manufacturing plant comes through the project’s Original Equipment Manufacturer (OEM), John Cockerill India Limited (JCIL). The Joint Venture (JV) between the companies is setting up the new cold rolling mill as part of its downstream expansion plan.

Read more here.

India’s forex reserves fall $2.91 billion to $593.2 billion as of June 23

According to the Reserve Bank of India (RBI), India’s forex reserves fell $2.9 billion and stood at $593.2 billion as of June 23. India’s foreign currency assets declined by $2.21 billion to $525.4 billion. India’s gold reserves fell by $745 million, taking the overall levels to $44.3 billion. Meanwhile, SDRs were up by $85 million to $18.33 billion.

Read more here.

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Market News Top 10 News

Ashok Leyland’s Net Profit Falls 17% YoY to Rs 751Cr in Q4 – Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

Ashok Leyland Q4 Results: Net profit falls 17% YoY to Rs 751 crore

Ashok Leyland reported a 17% YoY decline in net profit to Rs 751 crore for the quarter ended March (Q4 FY23). Its total operating revenue increased by 33% YoY to Rs 11,626 crore during the same quarter. EBITDA stood at Rs 1,276 crore, up 64% YoY. The company’s board has recommended a dividend of Rs 2.6 per equity share.

Read more here.

PVR Inox to invest Rs 700 crore to set up new screens, retrofit old ones

PVR Inox intends to invest Rs 700 crore in FY24 to add 175 new screens and upgrade existing ones. The expansion plan aims to counter losses at certain locations. According to the company, the cinema business is recovering, prompting the company’s aggressive expansion strategy. Currently, the company is making plans to expand to a number of Tier-2 and Tier-3 cities such as Rourkela, Bhubaneswar, etc.

Read more here.

Trent incorporates new JV company with MAS Fashion to manufacture intimate apparel in India

Trent Ltd has formed a 50:50 joint venture called Trent MAS Fashion Private Ltd. with MAS Amity Pte Ltd. The new entity will focus on designing, developing, and manufacturing intimate apparel and related products in India. The partnership aims to source and manufacture lingerie, activewear, and other products in the country.

Read more here.

Zurich DIFC deploys TCS solution for automating business process solutions

Tata Consultancy Services (TCS) will offer business process solutions to Zurich Insurance Company DIFC through its product TCS BaNCS. The aim is to automate processes, expedite claim settlement and accounting closure, and maintain data consistency. TCS BaNCS for Property and Casualty, a comprehensive insurance solution suite, will enable growth and transformation for Zurich DIFC.

Read more here.

JSW Energy Q4 Results: Net profit falls 68% YoY to Rs 272 crore

JSW Energy reported a 68% YoY decline in consolidated net profit of Rs 272 crore for the quarter ended March (Q4 FY23). However, its consolidated operating revenue rose 9.38% YoY to Rs 2,670 crore during the same quarter. EBITDA stood at Rs 745 crore, down 34% YoY. The company’s board has recommended a dividend of Rs 2 per equity share.

Read more here.

Wipro expands Google Cloud tie-up to extend generative AI tools to clients

Wipro Ltd has partnered with Google Cloud to offer generative AI tools to its clients. It will integrate Google Cloud’s suite of AI tools with its own intellectual property and industry solutions. Additionally, Wipro plans to train 20,000 associates on Google Cloud’s generative AI technologies, enabling them to implement secure and scalable AI-led transformations for clients.

Read more here. 

Bajaj Electricals Q4 Results: Net profit jumps 32% YoY to Rs 52 crore

Bajaj Electricals reported a 32% YoY jump in net profit to Rs 52 crore in Q4 FY23. Its revenue increased 11% YoY to Rs 1,490 crore during the same quarter. EBITDA stood at Rs 86 crore, up by 36% YoY. The company’s board has recommended a final dividend of Rs 4 per equity share.

Read more here.

Paytm launches UPI SDK to enable customers to pay directly within the merchant app

Paytm has launched Paytm UPI SDK, enabling online merchants to accept UPI payments within their mobile apps. Customers can make direct payments from their bank accounts without leaving the merchant app, using their UPI PIN. The feature also allows customers to check balances, create VPA handles, and manage UPI accounts within the merchant app. This offering is part of Paytm’s UPI acquiring arrangement between Paytm Payments Services Ltd. and Paytm Payments Bank.

Read more here.

Venus Remedies gets GMP certificate from Kenya for all Baddi facilities

Venus Remedies received a GMP certification from the Kenyan Health Ministry for its production facilities in Baddi. The certification expands the company’s market potential in Kenya, estimated at $780 million. It covers the manufacturing of antibiotics and oncology products in various forms. With this, the number of international GMP certifications for Venus Remedies has gone up to 25.

Read more here.