Tag: post market

Today’s Market Summarised

A day that started off as very boring, but closed as one of the most interesting monthly expiries in the market!

Nifty opened the day at 15,335 and tried to move down. From the morning low, the index moved up very slowly. For more than 2 hours at the middle, the index consolidated in a 35 point range. In the last 2 hours, Nifty fell to the day low then shot up to new day-highs. Nifty closed the day at 15,337, up 36 points or 0.24%.

Bank Nifty opened at 34,732 and tried to move down. The zone near 34,500 acted as strong support multiple times and by 10.35 am, Kotak Bank started moving up like crazy. From here there was no looking back. Resistance was taken near the 35,000 level first. But in the last 1 hour, the index jumped nearly 500 points especially with power from SBI. 

Bank Nifty closed at 35,095, up 410 points or 1.18%.

Nifty PSU Bank(+2.85%) was the best performing sector of the day. Bank Nifty(+1.18%), Nifty IT(+1.14%) and Nifty Realty(-1.19%) moved the most in the day. All other sectors moved less than 1%.

Asian markets closed mixed in the day. European markets are mostly trading flat.

News Picks

Markets gained a lot of positivity after the RBI released its annual report for the nine-month financial year of 2020. RBI said that Indian economy not as hard hit as first wave but uncertainties remain. RBI says, fiscal policy stance brightens prospects of eco recovery. RBI said they will ensure that system liquidity remains comfortable in FY22.

Kotak Mahindra Bank plans to consider fundraising via issuing bonds/debt securities on May 29. The stock closed nearly 2% up.

SBI touched a new 52-week high and closed 2.82% up in the day. The rally in SBI near the market close took Bank Nifty up.

Reliance closed 1% up in the day with Google CEO Pichai once again says they are working closely with Jio to launch affordable smartphones.

BPCL interestingly opened with a small gap-up and closed 0.5% in the red. Many market participants expected the stock to shoot up after declaring good results and a great dividend. But the news that BPCL divestment may take time pulled the stock down.

Privatization of BPCL is likely to be delayed by another six months over open offers to Petronet & IGL shareholders, which may raise the acquisition cost by Rs 20,000 crore

Kerala-based Kalyan Jewellers reported Q4 consolidated net profit at Rs 74.2 crores vs Rs 48.1 crores last year(+54%) vs Rs 132 crores last quarter(-43%). Revenue at Rs 3057 crores vs Rs 2141 crores last year vs Rs 2936 crores last quarter. The stock closed nearly 3.5% down in the day.

Cement stocks gained sharply, especially near market close. Shree Cements(+3.65%), and UltraCemCo(+1.40%) closed among top-gainers in the day.

Wockhardt Pharma reported Q4 consolidated net loss at Rs 92.8 crores vs a profit of Rs 48.3 crores last year. The stock crashed and closed 14% down.

Alkyl Amines gained 8% after reporting Q4 consolidated net profit at Rs 92.6 crores vs Rs 49.2 crores last year(+88%) vs Rs 84.44 crores last quarter(+9%).

India Govt extends deadlines for merchant banker bids for RCF and NFL Offer For Sales by 1 week. Both stocks closed 2-3% in the red.

RCF closed 3.8% down after reporting Q4 consolidated net profit at Rs 154 crores, down -23% YoY and but up 56% compared to last quarter.

PayTM is looking to target a Rs 21,818 crores IPO, largest ever for India.

Piramal Enterprises rose 6% following National Company Law Appellate Tribunal’s stay on their order in the DHFL case.

Sun Pharma closed flat in the day and reported Q4 consolidated net profit after market close. Net profits are at Rs 894 crore, up 110% YoY , but down 52% compared to last quarter.

V-Guard Industries reported doubling of its consolidated net profit to Rs 68.38 crore for the fourth quarter. Stock is up by 5.5%

Manappuram Finance fell by 3.8% after reporting their quarterly profits yesterday.

Markets Ahead

What an interesting day in the market. Nifty was looking in a consolidation mood even as Bank Nifty jumped nearly 700 points up from the day-low. Even as banks went up, HDFC and other stocks fell to keep Nifty level. 

This is what happens in the expiry days. Consolidation means if some stock is performing well, others will pull down the index.

With this close, Nifty is closer than ever to its all-time high again. If you look at the last 30 minutes in large-cap stocks, a lot of buying and selling was happening. Huge volumes were being traded as positions were closed on the last Thursday of the month.

15,300 resistance was broken as the market closed near the day-high. The strong close indicates that bullishness could continue tomorrow. A fresh start in June’s monthly series tomorrow, let us see how the market goes.

With two more trading day left in May, what do you think? Will Nifty conquer its all-time highs tomorrow? Or will it face resistance in this zone? Let me know in the comments of marketfeed app.

And yes, the GDP Data for Q4 is coming out on Monday the 31st of May! That is the next significant event in the market with most reports predicting a 1-2% GDP growth rate compared as the economy re-opened.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty keeps moving up, nearing all-time high levels with each trading day.

Nifty opened the day at 15,258 and tried to move down. But the index took support before reaching yesterday’s low and started moving back up. With a splendid move from Infosys, Nifty kept moving up even as Banks remained weak. The zone just above 15,300 was a sharp resistance zone and Nifty closed at 15,301, up 93 points or 0.61%.

Bank Nifty opened at 34,765 and fell sharply taking Nifty down as well. But it went back up and consolidated through the day, and the index traded between yesterday’s high and low. Bank Nifty closed flat at 34,684, up 22 points or 0.06%.

Nifty Metal(-1.86%) again fell in the day. Nifty Realty(+2.84%) was the best performing sectoral index followed by Nifty Media(+1.87%) and Nifty IT(+1.76%). All other indices consolidated without giving even a 1% move.

Most Asian markets closed in the green, signalling the gap-up for Nifty today as well. European markets are trading flat.

News Picks

Bajaj Finance(+2.7%) and Bajaj Finserv(+4.6%) closed as Nifty 50’s top-gainers of the day. They were consolidating all through last month as other financial stocks went up.

Expecting a good monsoon season ahead, fertilizer and chemical stocks gained some momentum. UPL and NFL closed 2% and 3.2% up respectively. RCF, ChambalFert, FACT moved 1%.

IT stocks were bullish throughout the day. Infosys(+2.6%), Wipro(+1.87%) and TechM(+1.53%), TCS(1.4%) performed well, giving some movements to Nifty 50.

A Subject Expert Committee (SEC) suggests Emergency Use Authorisation (EUA) for Remdesivir tablets by Jubilant Life Sciences. The stock closed 6% up in the day.

Wockhardt Pharma approaches Govt, asks for help in tying up with COVID vaccine makers. The company said there are 3 facilities that can be repurposed for vaccine manufacturing. The stock gained over 8.5% in the day.

Happiest Minds signs a strategic partnership with IT solutions co Yotta Infra. The stock closed 4.3% up.

V-Guard reported a Q4 net profit posted of Rs 67.8 crores, up 110% YoY, and a fall of 12% compared to last quarter. The stock closed 4.8% up in the day. 

Berger Paints saw sharp buying near the end and closed 1.6% up after reporting Q4 profit numbers. Net profit stands at Rs 211 crores, down 23% compared to last quarter but much above estimates. 

Interestingly, Shalimar Paints is up 10.8% and even Asian Paints is up 0.88%.

Manappuram Finance fell from the day high and closed 0.5% up after reporting an 18% YoY increase in Q4 consolidated net profit at Rs 468 crores. The results were below estimates.

HDFC said it will raise up to Rs 7,000 crore by issuing bonds on a private placement basis. The stock is up by 1.46%

Realty stocks gained in the day lead by DLF(+4.5%) and Indiabulls Real Estate(+8%). Also, IndiaBulls Housing Finance gained 4.5% in the day.

Metals stocks are still in the red side. Jindal Steel(-4.3%), Sail(-4.2%), JSW Steel(-2.6%), Hindalco(-2.6%), NMDC(-2.5%), Tata Steel(-2%) Coal India(-1.1%) are the major losers.

Mahanagar Gas gained 4.5% on better than expected Q4 earnings reported yesterday.

Markets Ahead

Today’s most interesting moves came from the Bajaj Twins which have been consolidating till now in May. While all other financial stocks went up sharply, these two had been consolidating and gave a beautiful breakout in the day. Can watch them for further movements.

We had discussed expecting a move from fertiliser stocks including UPL on last Friday. Anyone who entered then could have exited with some handsome profits by today. Also, include some good stocks from the sector in your long-term portfolio as well. 

Infosys is all set for more moves and is such a stock that has never disappointed investors. Along with TCS, it gave nearly 40 points to Nifty’s 90 point move today.

If you remember, the day all-time high was hit by Nifty was a red candle in the daily charts. And today’s resistance zone was near the closing level of that candle of 16th May. It is Nifty’s best close since 15th May.

But interestingly, heavyweight stocks including HDFC Bank, HDFC, and Reliance are far from their 52-week highs. So more rally from these stocks could indeed take Nifty up till the all-time high levels.

15,300 resistance we discussed yesterday was very strong in the day. But Nifty has closed above this level indicating bullishness. If global markets do remain positive, we might see Nifty reaching the all-time high zones this week itself. 15,200 and 15,100 will act as good supports for this week and 15,000 will act as a good support going into next month.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Once again a day of consolidation in the market, but with a bearish bias.

Nifty opened the day at 15,293 with a 100-point gap-up. But this level was not sustained, and the index fell slowly from there the whole day/ Between 10 am and 1 pm, Nifty consolidated in a 50-point zone but soon saw a fall. After the huge volatility, Nifty gained back to close the day at 15,208, up 10 points or 0.07%.

Bank Nifty opened at 35,124 and fell sharply. HDFC Bank was pulling the index down the whole day and by afternoon others joined in. Even with the fall, the index managed to close above yesterday’s low of 34,500. Bank Nifty fell to close at 34,662, down 281 points or 0.81%.

Nifty PSU Bank(-1.3%) fell the most today. Nifty Media(+3.17%) was the best performing sectoral index. All other indices consolidated without giving even a 1% move.

All Asian markets closed in the green, signalling the gap-up for Nifty today. Meanwhile, European markets are trading flat.

News Picks

Asian Paints broke out above its all-time high and closed 3.3% up as Nifty’s top-gainer. The stock has gained 14% after announcing its results on May 12.

Auto stocks including Eicher Motors(+2.89%) and TVS Motors(+2%) were mostly up in the day as metal prices(which are an important raw material) cooled down throughout the world. Analytics firm Jefferies also expects the decline in Covid-19 cases indicates to a revival in economic activity.

PVR(+3.43%) and Inox(+2.5%) closed with gains in the day. EIHotel(+3.21%) and Indian Hotels(+3.3%) also gained in expectation of lockdowns ending soon.

Also, there were reports that India is planning a stimulus package to support economic growth. The proposal is mainly to boost the aviation, tourism and hospitality industries.

Indigo(2.5%) and SpiceJet(+1%) closed in the green with gains.

Amaraja Batteries(-6.32%) opened with a big gap-down and fell 2% further. The stock fell after car battery maker Clarios announced that it would sell 1.71 crore shares or a 10% stake in the company by a block deal.

Financial stocks which gained sharply last week saw profit booking. HDFC Bank(-2.05%) was followed by Axis Bank(-1.3%) in Nifty 50. CholaFin(-4.3%) and M&MFin(-3.5%) saw a good fall in the day.

LTI launched an operational technology transformation solution with American Software company – ServiceNow. The stock moved to close 1.1% up.

BPCL may sell some stake in IGL & Petronet LNG to shed promoter status. Both IGL and Petronet shares saw a sharp fall from their day-highs.

TTK Prestige reported an 895% YoY increase in net profit for Q4 to Rs 85.4 crores. A 2% increase in net profits was seen compared to last quarter. The stock closed 14% up.

Alkem Lab reported Q4 net profit as Rs 240 crores, down 46% compared to last quarter. The negative result impact was huge and the stock fell to close 3% down.

Colgate Palmolive(ColPal) gains 5% to hit record high following an upgrade by UBS.

CONCOR continues the gaining momentum following Land Licensing Fee resolution. Closed 5.3% up.

Ramco Cements Ltd reported a 51.08% YoY increase in consolidated net profit to Rs 216.16 crore for the quarter ended March (Q4).  Stock is down by 2.7%

Balaji Amines Ltd reported a 174.17% YoY jump in consolidated net profit to Rs 84.50 crore for the quarter ended March (Q4). Stock is down by 3.4%

Markets Ahead

Sputnik Lite, the vaccine which needs only a single shot, is undergoing 3rd phase of clinical trials and will be produced in India. Also, Pfizer said they are in discussions with the Indian Govt for supplies of the Covid-19 vaccine. A bit hard to understand how even after more than a month of lockdown in multiple states, the vaccine shortage is nowhere near over.

Only 3% of India’s population is fully vaccinated, whereas in the USA is at 40%.

Markets have already factored all this in and look like Nifty is setting the stage for more rally. Even the intraday fall was gained back and Nifty managed to close above 15,200. This is a good sign for the market.

15,300 is developing as a good resistance for the week. And the markets are expected to close in and around the 15,200 mark for this Thursday. 

What we saw today was majorly a fall from those stocks which have outperformed last week. I feel that the bullishness still continues for the medium term as long as 14,900 support is respected.

A higher vaccination rate along with re-opening of the economy will push Nifty further up in the coming weeks. Can keep a watch on Pfizer stock for more rally, it is seeing some accumulation around in the current zone.

Catch you all on The Stock Market Show tonight!