Tag: Reliance share

Today’s Market Summarised

Markets fall for the second straight day right from the beginning.

NIFTY opened the day flat at 18,120. It tested the support at 17,950 and bounced back up twice. Once it was broken, the fall took the index 230 points below the day-high. NIFTY ended the day at 17,938, down 174 points or 0.96%.

BANK NIFTY opened the day at 38,104 and was volatile. The index tried to go up above 38,300 but this was not sustained. After falling more than 550 points from the high, Bank Nifty recovered and ended the day at 38,041, down 169 points or 0.44%.

NIFTY PSU Bank (+2.2%) and Media (+1%) closed with good gains. NIFTY IT (-2.%), FMCG (-1%) and Finserv (-1%) fell more than 1% each.

Asian markets closed mixed today. European markets are all currently trading in the green.

News Picks

After international oil prices hit their highest since 2014, ONGC (+3.9%) shares closed as the top-gainer in NIFTY 50. The stock is near its 52-week high, watch out for a breakout. 

Paint stocks which are dependent on crude oil prices moved down led by Asian Paints (-2.7%). Berger (-1.6%) and Indigo Paints (-2.8%) also moved down. Shalimar Paints (+4.4%) beat the trend and closed in the green after Infra.Market bought a 24% stake in the company.

Other power-related stocks including Coal India (+1.9%), GAIL (+3.5%), Tata Power (+3.9%), Gujarat Gas (+3%), IEX (+2.7%) and more closed with gains.

With Tata Motors(+1.9%) introducing 2 new CNG cars and Rakesh Jhunjhunwala increasing stake, the stock moved up. Maruti (+1.2%) also moved up. Bajaj Auto (+1%) closed at the day-high ahead of its Q3 results.

IT stocks closed in the top-losers with an international selling pressure in the sector. Infosys (-2.8%) and Wipro (-1.9%) fell from NIFTY 50. LTTS (-6.3%), Mphasis (-3.5%), Mindtree (-2.7%) and LTI (-2.5%) also fell for the day.

FMCG stocks also fell with Nestle, Hindustan Unilever and Tata Consumer closing in the top-losers.

Meanwhile, Tata Elxsi (+9.4%) broke out to an all-time high after announcing Q3 results.

Biocon (+5.3%) closed with gains after Morgan Stanley upgraded targets for the stock. Lupin (+1.6%) moved up after signing a partnership agreement with Chinese company Foncoo for introducing products in the country.

ICICI Prudential (-5.6%) fell sharply after announcing their Q3 results yesterday.

All stocks from the PSU Bank index closed in green with expectations before the 2022 Budget. Bank of Baroda (+3.9%), SBIN (+1.7%) and Maha Bank (+4.6%) closed with best gains.

PayTM (-4.2%) shares fell to an all-time low nearly 50% down from its listing price.

Markets Ahead

NASDAQ falling 9% from its January high has started off selling across IT stocks. Indian IT stocks are also responding with Infosys alone pulling down NIFTY by 50 points today.

Tomorrow being the weekly expiry, the current options data might give us an indication of how things might go. After the breakdown today, NIFTY might see a good resistance at the level of 18,000 when trying to move back up.

Keep an eye on crude oil-related stocks including oil marketing companies. As soon as the UP elections are done, local petrol prices may move up and create a buzz in these stocks. Try to add in dips.

Bank Nifty fell below the 38,000 support but showed strength and ended above this level. I am interested to see if we will be able to see some high volatility moves for the weekly expiry tomorrow.

How did the day go for you? Were you able to catch the downtrend moves? Let us know in the comments section of the marketfeed app!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

A highly volatile Tuesday with fear and confusion leading the fall.

NIFTY opened the day at 18,348, with a small gap-up. Just after the opening, it tested 18,350 level and fell nearly 150 points towards 18,200. The recovery after that was not strong enough and an even larger fall was seen towards the end. NIFTY ended the day at 18,113, down 195 points or 1.07%.

BANK NIFTY opened the day at 38,381 and stayed stable. The index slowly gained strength and shot up once it crossed 38,500. Just after 2 PM, selling pressure was seen throughout the market and the index fell 750 points from the day-high. Bank Nifty ended the day at 38,210, down 5 points or 0.02%.

All sectoral indices closed in the red today. NIFTY Realty (-2.6%), NIFTY AUTO (-2.3%) and NIFTY Metal (-2.2%) fell more than 2% each. Only Bank Nifty (-0.02%) stayed flat.

Asian markets closed all in the red today. European markets are also currently trading in the red.

News Picks

Axis Bank (+1.7%) saw buying in the day with news of it picking up Citibank’s retail portfolio. You can read more about Citi’s exit from India, here.

Tata Consumer (-4.4%) lost all gains from last Friday and closed as the top-loser of NIFTY 50. Maruti (-4.2%), UltraCem Co (-4%), Eicher (-3.8%) and Grasim (-3.4%) closed among the top-losers, losing last week’s gains.

Cement and construction stocks fell in the day led by DBL (-8%), Ambuja Cement (-6.6%), India Cements (-6.2%), ACC (-5.2%), Ramco Cement (-4.9%) and DLF (-4.7%).

Meanwhile, Prestige (+2.7%) closed at an all-time high after reporting record quarterly sales.

Markets Ahead

NIFTY let go of the last 4 days and filled the gap-up between last Tuesday and Wednesday. It was an interesting sight, seeing how global markets went from green in the morning to all red by the afternoon.

Bond yields across the world rising in anticipation of the Fed rate hike in March is seen as the reason for the panic selling. Even between the panic, technicals were followed with Bank Nifty finding resistance at last week’s high and Nifty taking support at last Monday’s high.

We will have to look at how the U.S. markets open tonight after a 3-day weekend. If the selling pressure continues in the U.S. market, along with fear of tensions between the U.S and Russia, our markets will feel the pinch tomorrow.

Bank Nifty has still closed above its support of 38,000 and we will have to watch for this level tomorrow. Today’s high can also be looked at as a resistance for the index!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets close slightly in the green and close at the highest point since 14th October.

NIFTY opened the day at 18,246 and moved with volatility. After the initial jump from and fall, the index mostly stayed in the green for the week. NIFTY ended the day at 18,308, up 52 points or 0.29%.

BANK NIFTY opened the day at 38,269 and shot up and was volatile. However, the index could not sustain above the 38,500 mark and fell back down. Bank Nifty ended the day at 38,216, down 154 points or 0.4%.

NIFTY Auto (+2%) and Realty (+1.2%) gave breakouts in the day. Most other indices consolidated with Pharma seeing some selling pressure.

Asian markets closed mostly in the green today. European markets are also currently trading in the green.

News Picks

HeroMotoCorp (-5.1%) closed with a big gain as NIFTY 50’s top-gainer. The stock moved after the company injected more funds into subsidiary Ather Energy and plans to unveil an EV in March.

Other auto stocks also saw buying led by Tata Motors (+2.9%), Maruti (+2.2%), M&M (+2.2%) and more closing in the green.

Construction stocks including Grasim (+3.3%), UltraCemCo (+2.7%), JSW Steel (+2.4%) and Shree Cements (+1.7%) closed with gains from NIFTY 50. UltraTech Cement reported Q3 results with a net profit of Rs 1,710 crores, up 14% YoY and beating estimates. 

Realty stocks including Sobha (+6.1%), Brigade (+4.6%), Lodha (+3.2%) and DLF (+1.5%) also moved up.

HCL Tech (+5.8%) fell sharply after announcing their Q3 results during the weekend due to tougher margins. On a similar line, HDFC Bank (+1.5%) also saw selling even after their in-line results.

Fertiliser stocks mostly closed in the green after rumours of Rs 1.4 lakh crore in fertilizer subsidy in the budget. DeepakFert (+4.1%), Madras Fertilizers (+10.8%), FACT (+3.7%), NFL (+3.1%) moved up.

Bhansali Engineering Polymers (-9%) crashed down intraday after reporting a Q3 net profit of Rs 75.7 crores, down 44% YoY.

Pharma stocks saw selling pressure in the day. Cipla (-1.2%), Granules (-7.4%), LAURUS LABS (-2.5%) and STAR (-2.4%) closed in the red from NIFTY Pharma.

Markets Ahead

Results of HDFC Bank kept the markets calm even after the good results. It still managed to pull down the index by more than 20 points.

BANK NIFTY closed between the highest Open Interest levels of 38,000 and 38,500. The index is seeing consolidation in this tight range. A move of more than 200 points over and above these zones can trigger bigger moves.

Keep an eye out for the options data in NIFTY and BANK NIFTY. Our expectation for the current week based on present data is that there would be consolidation with midcap and smallcap stocks moving up.

TCS hit an all-time high and is expected to slowly move up more after the announcement of the Rs 4,500/share buyback. Maruti is also near a 3-year high zone and might give good moves if breaking out.

Have you gotten into the Auto stocks rally? Let us know in the comments section of the marketfeed app!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Indian markets end flat on the last day of the bullish week flat.

NIFTY opened the day at 18,197 with a gap-down and fell. A sudden fall of 80 points was seen in the first 3 minutes, but support was found and the index shot back up. NIFTY showed some last hour volatility but failed to close in green. NIFTY ended the day at 18,255, down 2 points or 0.01%.

BANK NIFTY opened the day at 38,304 and was volatile. Eventually, it fell and took perfect support at the level of 38,000. A strong recovery of more than 400 points was seen with strength from private banks. Bank Nifty ended the day at 38,370, down 99 points or 0.26%.

NIFTY REALTY (+1.1%) gave a good move while all other indices consolidated.

Asian markets closed mostly in the red today. European markets are also currently trading in the red.

News Picks

Two Tata stocks led the top-gainers list of NIFTY 50 – Tata Consumer (+4.4%) and TCS(+1.8%).

RBL Bank (+5.4%) recovered sharply once again after its heavy fall in December. AU Bank (-3.5%) saw profit booking.

Strategic public-sector companies moved up including BEL (+5%), HAL (+3.4%), BDL (+6.2%) and Concor (+3.3%). IRCTC (+4%) also moved up.

Mindtree (-4.1%) fell after its Q3 results announcement.

Oil marketing companies saw buying interest with BPCL (+1%) and IOC (+1.7%) closing among the top-gainers of NIFTY. ONGC (-1.7%) saw profit booking for the second day from a technical resistance level.

Aurobindo Pharma (-3.1%) opened with a gap-down after receiving a warning letter from USFDA for its Hyderabad unit. Granules (+4.4% ) hit a 5-month high.

Markets Ahead

India’s December Wholesales Price came out at 13.56% YoY vs 14.23% in November. It was around the estimated level. Wholesale Fuel and Power Inflation came in at a huge rate of 32.3%.

NIFTY managed to stay above 18,200 support levels in the 1-day charts. It has made 8 green candles in the daily charts including today. But looks like there is a loss in momentum with the index closing flat for 2 days in a row.

Market participants and speculators are feeling the pressure before Budget 2022, which is to be presented on February 1. Bears want a sharp fall and bulls want a fresh all-time high. 

The ideal strategy for retail participants in the next two weeks is to be patient and safe. Bank Nifty will find bullishness above the level of 39,000. So keep an eye out for this!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

A very calm Thursday which was expected to be filled with fireworks!

NIFTY opened the day at 18,258 with a slight gap-up. From the start, it was a volatile day for the index. The initial resistance of 18,270 was respected throughout the day. NIFTY ended the day at 18,257, up 45 points or 0.25%.

BANK NIFTY opened the day at 38,691 with a slight gap-down and remained in red throughout the day. The index broke the support at 36,500 but traded around that zone. Bank Nifty ended the day at 38,469, down 257 points or 0.67%.

NIFTY METAL (+3.4%) outperformed on the day along with NIFTY Pharma (+1.5%). All other indices consolidated.

Asian markets closed mixed in the day. European markets are currently trading in the red.

News Picks

Tata Steel (+6.4%), JSW Steel (+4.6%), Coal India (+3.3%) and Hindalco (+1.9%) moved up from the NIFTY Metal index. Jindal Steel (+5.8%), NMDC (+3.3%) and SAIL (+2.9%) also moved up.

SunPharma (+3.5%) hit nearly a 5-year high and closed in the top-gainers of NIFTY 50 along with Cipla (+1.9%) and Divi’s Lab (+2.1%).

Wipro (-6%) opened with a gap-down and fell again. The stock closed as NIFTY’s top-loser after announcing results yesterday.

HDFC Bank (-1.8%), Kotak Bank (-1.5%) and IndusInd Bank (-1.5%) were among the top-losers on NIFTY 50. Foreign investors reduced their stake in IndusInd Bank by 3.8% in the last quarter.

Polycab(+8.2%) gave a fresh breakout and closed at all-time highs.

Tata Stocks remained buzzing in the day led by Tata Steel (+6.4%) in NIFTY 50. Trent (+3.2%), Tata Elxsi (+4.7%), Tata Power (+3.1%), Tata Chem (+2.1%) and TCS (+0.98%) were among some that closed with good gains.

Sugar stocks showed bullishness again led by Balrampur Chini (+4.9%), Shree Renuka (+3.1%), Triveni (+3.8%) and Dalmia Sugar (+3.3%).

Markets Ahead

The weekly expiry turned out to be very anti-climatic. It had all the ingredients ready for a very exciting day, but NIFTY closed the day exactly where it opened.

Infosys and TCS results failed to create a big impact and Wipro did not have enough weightage on NIFTY to move it down. So for now, the market is at an uncertain level just under 2% from its all-time high. 

Bank Nifty has more breathing space with a more than 8% gap from its all-time high. However, the index has made a red candle in the daily charts for the first time since 29th December. It looks like time for a breather in the market. 

But interestingly, I also think that the weekly expiry decided many of the moves today. In the month of December, Fridays and Mondays were the days which showed interesting movements. So I will be looking for the movements tomorrow to see if NIFTY takes support at 18,200 and continues to move up.

Do you think this bullishness will continue in the market? Can NIFTY break 18,500 and move up to all-time highs?

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Large Cap stocks push up the market led by Reliance.

NIFTY opened the day at 18,170 with a 120 point gap-up. There was buying interest seen throughout the day even with the initial fall. The level of 18,210 was broken that day. NIFTY ended the day at 18,212, up 156 points or 0.87%.

BANK NIFTY opened the day at 38,724 with a gap-up. The index took the backseat and moved sideways throughout the day. After trading in a 250 point zone all day, Bank Nifty ended the day at 38,727, up 285 points or 0.74%.

NIFTY AUTO (+1.4%), METAL (+1.3%) and REALTY (+1.9%) outperformed on the day. All other indices consolidated.

Asian markets closed mostly in the green today. European markets are currently trading in the green today.

News Picks

Auto stocks saw buying led by M&M (+4.6%) closing as the top-gainer of NIFTY 50. The automaker got rid of the loss-making subsidiary Ssangyong it had acquired in 2010. Mahindra Finance (+5.6%) also moved up.

Ashok Leyland (+2.7%), TVS Motors (+1.8%) and Tata Motors (+1.1%) were among the other gainers from the auto index.

With the government saying it has no intention to run Vodafone Idea (+8.4%), telecom related stocks rallied up. Bharti Airtel (+3.8%), Reliance (+2.6%) and Idea (+8.4%) moved up. Indus Towers (+3%) also moved up.

IndusInd Bank (+2.5%) showcased a recovery from its previous month fall and rallied up. ICICI Bank (+1.6%) also joined it among the top-gainers.

Metal stocks also recovered after yesterday’s fall. JSW Steel (+1.7%), Tata Steel (+1.5%) and Hindalco (+2.3%) closed among the top-gainers.

PVR (+4.9%) and RBL Bank (+4.7%) continued on their road to recovery while chemical stock SRF (+3.6%) hit all-time highs. DMART (-5%) hit a 3-month low falling 10% in 3 days after Q3 results.

Markets Ahead

India has reported 1.94 lakh new coronavirus cases yesterday, the biggest one-day increase since May 2021.

The resistance of 18,100-18,120 we discussed yesterday was crossed by a gap-up and taken as support. The markets have been showing high bullishness after crossing the 17,650 mark and is now reaching an important zone.

Infosys, TCS and Wipro will have to be watched out for in the session tomorrow. Last Thursday, we saw a big gap-down opening but the options data indicate strong supports at 18,100 and 18,200 for tomorrow.

However, the resistance is shown to be at 18,400, which may indicate that there is a higher chance of the market moving up than down from its current levels. 

How do you think the markets will open after the three major results announcements tomorrow. Let us know in the comments section of the marketfeed app!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets hold strong and close in the green for the third day, even with intraday volatility.

NIFTY opened the day flat at 18,006 and traded around that level. Towards the afternoon, the index slowly went up and found resistance at 18,080. After some last hour volatility, NIFTY ended the day at 18,055, up 52 points or 0.29%.

BANK NIFTY opened the day at 38,379 and was volatile from the first candle. It found resistance at 38,500 and fell back to the 38k mark in just one hour. Towards the end, the day-high was again tested but not broken. Bank Nifty ended the day at 38,442, up 94 points or 0.25%.

NIFTY IT(+1%) and NIFTY Metal(-1.9%) showed good movements while all other sectoral indices consolidated.

Asian markets closed mixed today. European markets are currently trading in the green after yesterday’s fall.

News Picks

IT stocks saw buying ahead of the major earnings reports tomorrow. HCL Tech (+4.3%), TechM (+1.2%) and TCS (+0.93%) closed among the top-gainers of NIFTY 50.

Adani stocks saw heavy buying in the day with Adani Ports (+3.5%) closing among the top-gainers. Adani Enterprises (+5.2%), Adani Transmission (+2.6%)and Adani Green (+9%) also moved up.

Adani Green (+9%) reported that their total operational capacity increased by 84% year-on-year (YoY) to 5,410 MW.

PVR (+3.4%) is now nearly 20% up in the last 16 trading sessions after market factored in the lockdowns around the country. Tata’s retail stock Trent (+4.4%) is nearly 15% up in this time frame.

Steel and metal stocks underperformed after brokerage firms downgraded ratings with Jefferies lowering optimism on the metals sector in India. JSW Steel (-3.9%), Tata Steel (-3.3%) and Hindalco (-1.3%) fell from NIFTY 50. Jindal Steel (-5%), SAIL (-4.8%) and National Aluminium (-3.7%) also saw heavy selling.

Reliance (+0.72%) owned JustDial (+6.3%) moved up after planning to enter e-commerce business by launching an online shopping app.

Vodafone Idea (-20.5%) opened at a lower circuit and crashed down again after its board approved the conversion of AGR and spectrum liabilities into Equity. This will lead to a huge dilution for all shareholders and the government will be 35.8% owner of the company.

Hinduja Global (+6%) moved up after considering potential mergers and also buyback of securities on Jan 14.

Markets Ahead

IPL fans will be thrilled to know that the title sponsorship is being picked up by Tata for next year, with VIVO pulling out.

The 18,100-18,120 zone is more important to NIFTY in its charts than even the 18,000 mark. This zone may be tested tomorrow with 3 big NIFTY 50 companies announcing results – TCS, Infosys and Wipro. 

As we discussed yesterday, TCS is also expected to announce a buyback of shares.

An interesting media report today said that the Govt may announce the roadmap for a national green hydrogen mission in the upcoming budget. What makes this interesting is that Adani just incorporated a subsidiary yesterday which will focus on green projects including Hydrogen ones. The buying interest on Adani stocks may continue for the coming trading sessions.

Bank Nifty’s biggest contributor to today’s move was AU Bank! It moved up 5% today, up 40% in the last 7 trading sessions! Yes, an F&O stock that has moved more than 40% in just over a week. Can this be an indication for other stocks in the index?

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

NIFTY closed above 18,000 for the first time since mid-November.

NIFTY opened the day at 17,913 with a gap-up. After the initial volatility, there was a calm sideways movement throughout the market. Just after 2:30 PM, buying took the index up slowly. NIFTY ended the day at 18,003, up 190 points or 1.07%.

BANK NIFTY opened the day at 37,949 and shot up more than 250 points. The index was very volatile and it immediately came back down before bouncing again. After relatively calm movements, banks saw buying towards the end of the day and Bank Nifty ended the day at 38,347, up 608 points or 1.61%.

NIFTY PSU Bank (+3.2%), Media (+2.2%) and Realty (+1.9%) moved up the most in the day. NIFTY Bank (+1.6%), Auto (+1.8%) and Finserv (+1.5%) also moved more than 1.5%.

Asian markets closed mixed today. European markets are trading flat currently.

News Picks

UPL (+4.1%) continued its breakout and once again closed as the top-gainer in NIFTY 50.

Titan (+3.3%) closed at its highest level ever, recovering from a 15% correction. Investors are surely happy!

Multiple auto stocks closed in the top-gainers of NIFTY with the market showing buying interest for the sector as we guessed on Friday. HeroMotoCorp (+3.1%), Maruti (+2.7%) and Tata Motors (+2.6%) closed with gains.

Financial stocks continued to be in focus led by HDFC (+2.4%), SBI (+2.4%) and Kotak Bank (+2.2%) from NIFTY 50. HDFC AMC (+3.1%) and ICICI Bank (+2.2%) also moved up.

PSU Banks also saw heavy buying ahead of the budget week. Bank of Baroda (+5.1%), PNB (+3.7%), Canara Bank (+3.5%) and all others from the PSU Bank index closed with good gains.

Other Public sector enterprises also moved up including BHEL (+5.2%), HAL(+3.1%), Coal India and REC.

IT stocks closed mixed in the day with Infosys closing in green but Coforge (-3%), LTTS (-3%) and Wipro (-2.5%) closing in the red.

Paytm (-6%) fell on the trading day as Macquarie slashed the target on the stock by 25%.

SBI Card (-2.4%) under pressure after Goldman Sachs initiates coverage with a Sell call on the stock.

GTPL Hathway (+2.9%) partners with Aprecomm to bring innovation to customer experience with network intelligence.

L&T (+2.5%) wins significant contracts worth Rs 1,000-2,500 crores.

Greaves Cotton (+20%-UC) shot up to all-time high on a good day for the EV stock.

Alembic Pharma (+2.1%) has received USFDA tentative approval for Dronedarone tablets, prescribed to maintain the regular heart rhythm.

Deepak Nitrite (+2.4%) moved up after LIC raised its stake to 3.37% in Q3 from 1.68% in Q2.

JBM Auto (+5%) acquires 51% stake in JBM Green Energy & JBM EV Ind. The stock is up more than 30% in the last month.

Markets Ahead

NIFTY closed and sustained above the 18k mark. January has already started with an amazing rally for the market. 

Bank Nifty is more than 8% in the first 10 days of the month. Ahead of the budget, we can expect interesting movements in the banking stocks.

Infosys moved up today ahead of its Q3 results announcement on Wednesday. TCS also opened at its all-time high, and we are expecting more rally when the company announces a buyback plan this week.

Major upcoming events include IT results and the Budget 2022. Which stocks are you betting on? Textiles? PSU Banks? Power? Let us know in the comments section of marketfeed!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Big up and down movement ends with NIFTY flat to its opening level.

NIFTY opened the day at 17,797 with a gap-up. Resistance was found near 17,900 and failure to break the level pushed the market down. A 200 point was followed by a quick bounce back. NIFTY ended the day at 17,812, up 67 points or 0.38%.

BANK NIFTY opened the day at 37,674 and shot up. The level of 38k was crossed for the first time since November 22. A fall of 700 points was seen from the day-high in 2 hours. After the last hour recovery, Bank Nifty ended the day at 37,739, up 249 points or 0.67%.

All sectoral indices moved less than 1%. NIFTY Media(-0.83%) fell the most while Nifty Bank (+0.67%) moved up

Asian markets closed mixed today. European markets are trading flat currently.

News Picks

Infrastructure stocks shined on the day. Grasim (+4.4%), ONGC (+4.1%) closed in the top-gainers of NIFTY from the infrastructure index. 

Cement stocks also shined with Ultratech Cement (+1.3%) and Shree Cements (+1.9%) closing in the gainer’s list. ACC (+2.5%), Ambuja Cement (+2.6%), Ramco Cement (+2%) and India Cement (+15.2%) also shot up.

With aluminium prices on MCX giving another breakout, Hindalco (+3%) closed in the top-gainers. National Aluminium (+5.5%) moved up.

Ujjivan SFB (+6.7%) closed in the green after positive loan and deposit data from Q3 and brokerage upgrades. Ujjivan (+1.6%) also moved up.

Chemical stocks continued to show buying interest – SRF (+3.9%), Aarti Industries (+3.6%) and Pidilite Industries (+2.9%) moving up. Valiant Organics (+10%), Vinati Organics (+1.8%), Tata Chem (+2.5%) and others also moved up.

KPIT Tech (+12.8%) gained for the second straight day after Goldmann Sachs initiated coverage with a buy rating.

Easy Trip Planners (+4.2%) moved up after the decision to meet on Jan 12 for a bonus issue. SPARC (+10.6%) hit multi-year highs with huge volumes while Redington (+11.8%) hit a 4-month high.

Markets Ahead

NIFTY closed its best week since October above the level of 17,800 with a move of 3%. Bank Nifty meanwhile outperformed and moved up more than 6% in its best week since mid-may.

Bank Nifty hit its mark of 38k today and cooled back down. We seem to be on the road to market recovery if global and local factors remain neutral. Lockdowns around the country look to be factored in by the market.

Next week we might see a sectoral rotation in the rally if markets remain bullish. Keep a watch on NIFTY METAL and AUTO too for the upcoming week. Looks like 2022 will be really interesting with just 3 weeks to go for India’s Budget.

Which sector looks good for you in the run-up to the Budget? Let us know in the comments section of the marketfeed app!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

A crazy weekly expiry after the huge gap-down opening!

NIFTY opened the day at 17,775 with nearly a 150 point gap-down. It quickly made a day-high but then started moving down. Afternoon buying took the index back to day-high but it could not sustain there. NIFTY ended the day at 17,745, down 179 points or 1%.

BANK NIFTY opened the day at 37,308 with a gap-down. It kept on moving sideways in a 300 point zone till late afternoon. The index gave a strong breakout above 37,500 but moved back down equally fast. Bank Nifty ended the day at 37,490, down 205 points or 0.55%.

NIFTY IT and NIFTY Realty fell the most today. All other sectoral indices moved less than 1%.

Asian markets closed mostly in the red today. European markets are all trading in the red currently.

News Picks

Markets opened with a gap-down after the U.S. Federal Reserve’s meeting minutes caused panic.

UPL closed as NIFTY 50’s top-gainer after brokerage firm CLSA raised the target on the stock & FY22 earnings estimates.

IndusInd Bank closed in the green after reporting healthy loan and deposit growth for Q3. Meanwhile, other private banks HDFC Bank and Kotak Bank closed among the top-losers of NIFTY.

IRB Infra won its largest-ever order worth Rs 6550 crores and moved up.

IT stocks once again saw profit booking with HCL Tech, TechM, TCS and Infosys closing in the red. 

Bajaj Auto continued to see buying from its 52-week low. Other Auto stocks including TVS Motors, Eicher Motors and Maruti also gained.

Infrastructure stocks saw selling in the day. JSW Steel, UltraTech Cement and Shree Cement led the losers list of NIFTY 50. Almost all stocks in the NIFTY REALTY index closed in the red.

Markets Ahead

A thrilling end to the week. The U.S. Fed signalled yesterday it may have to raise interest rates sooner to fight inflation and this caused a panic selling in markets around the world including ours.

But Bank Nifty showed strength anyway. In the daily chart, it has closed with a green candle even though it could not sustain the late rally. The index continued to show strength in the bearish market today.

The 37,850 mark along with 38k will be important for Bank Nifty. As for NIFTY, once again 18k looks to be the major hurdle in its rally forward. It is a psychological resistance more than a technical resistance, and if broken could indicate a return of Foreign Institutional Investors buying to the Indian market.

FIIs have been net buyers for the last 3 days in our market. Hoping for this trend to continue!

How did the first weekly expiry of 2022 go for you? Let us know in the comments of the marketfeed app!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

Financial stocks take charge and boost the market up.

NIFTY opened the day at 17,823 and found resistance around yesterday’s high. The first sharp fall and quick rebound should have been an indication that it would be another bullish day. After 17,850 was broken, upward strength continued till the last 30-minute fall. NIFTY ended the day at 17,925, up 120 points or 0.67%.

BANK NIFTY opened the day at 36,945 and was very strong. It quickly crossed 37000 and after some effort broke 37,500 by noon. Even though profit booking near closing brought it slightly lower, Bank Nifty ended the day at 37,695, up 855 points or 2.32%.

NIFTY BANK (+2.3%), FIN NIFTY(+2%) and the PSU Bank(+1.5%) indices moved up the most for the third straight day of the week. NIFTY IT (+1.9%) saw profit booking even as Auto (+1%), Metal (+1.3%) and Realty(+1.2%) jumped.

Asian markets closed mixed in the day. European markets are all trading in the green currently.

News Picks

Financial stocks were the talk of the day. Bajaj Finserv(+4.9%) and Bajaj Finance(+4.4%) led the top-gainers list in NIFTY 50. Kotak Bank (+3.7%), Axis Bank (+2.5%) and HDFC Bank (+2.3%) also featured in the li1st.

Other financial stocks including CholaFin (+4%), ICICI Bank (+1.9%), SBI (+1.8%), AU Bank (+6.7%) and IDBI (+7.1%) also moved up.

Eicher Motors (+2.7%) continued its recovery and closed at its highest level since October 19th. Bajaj Auto (+2.1%), Ashok Leyland (+3.4%) and Maruti (+1.9%) helped the auto index close more than 1% in green.

TechM(-2.9%), Infosys (-2.8%), HCLTech (-1.7%) and Wipro (-1.1%) closed among the top-losers of NIFTY 50 with a global profit booking in tech stocks being seen. All stocks from NIFTY IT fell including LTI (-3.2%) and Coforge (-2.7%).

Crude oil prices reaching back to November levels, oil marketing company stocks including IOC (+2.8%), Hindustan Petroleum (+5.1%) and BPCL (+2.2%) shot up. Others including GAIL (+2.4%) and ONGC (+1.7%) also moved.

Steel prices increasing in the month along with interesting valuations for metal stocks helped them move up. Jindal Steel (+4.6%), JSW Steel (+3.5%), SAIL (+2.8%) and Tata Steel (+2.5%) shot up.

HFCL (+8%) has announced powering its network offerings with Artificial Intelligence (AI) based analytics, partnering with Bangalore-based Aprecomm. The stock shot up.

Tata’s NELCO (+5%-UC) moved up after winning a contract from ONGC to enhance its communication infrastructure at offshore sites.

Cement companies in South India have increased prices. India Cement (+3.1%) moved up.

Markets Ahead

Between full lockdowns on Sunday in Tamil Nadu and Services PMI coming out, markets shot up. The buy on rumour and sell on news psychology is what we are seeing currently.

India’s December Services PMI came out at 55.5 vs 58.1 last month. This indicates expansion but at a slower pace.

As we discussed yesterday, the 18k mark is what NIFTY is aiming for. With finance stocks firing on all cylinders today, it is closer to this mark. Bank Nifty has hit its highest level since November 24 and found resistance there. The options data indicate that 38,000 would be important tomorrow.

Kotak Bank and other stocks were the major contributors to NIFTY along with HDFC Bank and ICICI Bank. Infosys interestingly pulled the index down by more than 40 points.

The short positions being covered has so far pushed the market up. But NIFTY looks like it may face resistance at 18,000. For tomorrow, a gap-up and sustaining above this level can indicate bullishness and trigger more buying. If this level is not broken, we can expect consolidation for the first weekly expiry day of the year. 

Keep an eye out on NASDAQ and other IT stocks around the world for an indication on NIFTY IT tomorrow. Key levels of heavyweights like Reliance at 2,500 and HDFC at 2,700 will also have to be watched as resistances.

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Buying continues in the market after Friday’s breakout.

NIFTY opened the day at 17,681 with a small gap-up. It was volatile till 10 AM, with a fall of 120 points and a quick recovery. After some consolidation, the market saw some last hour buying. NIFTY ended the day at 17,805, up 179 points or 1.02%.

BANK NIFTY opened the day at 35,502 and moved up and down 300 points. There was resistance found near 36,900 and the last hour buying helped it close near the day-high. Bank Nifty ended the day at 36,840, up 418 points or 1.15%.

NIFTY BANK(+1.1%), FIN NIFTY(+1.1%) and the PSU Bank(+1.2%) indices once again moved up the most. 

Asian markets closed mostly in the green. European markets are also all trading in the green.

News Picks

NTPC(+5.4%), ONGC(+3.3%), Powergrid(+2.7%) and Reliance(+2.2%) closed among the top-gainers of NIFTY 50 all from the energy sector.

Other power stocks including Torrent Power(+2.7%), Tata Power(+1.3%) and IEX(+1.3%) also moved up.

SBI(+2.7%), Axis Bank(+1.8%) and Bajaj Finance(+1.7%) closed among the top-gainers of NIFTY 50. Other financial stocks including HDFC(+1.4%), Kotak Bank(+1.5%) and ICICI Bank(+1%) also moved up.

Tata Motors(-1.6%) fell and closed as the top loser in NIFTY 50 after CLSA downgraded its rating to ‘Sell’.

Pidilite Industries(+5%) gave a breakout and closed at fresh 52-week highs. 

Kitex Garments(+5.2%) moved up after total Q3 revenue posts at Rs 205 crores vs Rs 121 crores in Q2F22.

Alembic Pharma(+2.1%) moved up after receiving USFDA’s final approval for Doxycycline antibacterial drug.

Sugar stocks gave breakouts and closed in the green. Balrampur Chini(+14.1%), Eid Parry(+9.8%) and DCM Shriram(+9.1%) moved up. Triveni(+11.3%), Dhwarikesh Sugar(+20%) and others also moved.

Markets Ahead

Our markets are continuing the strong breakout after their December fall. NIFTY looks ready to hit the 18k mark soon with the momentum it is currently having.

But on the other side, weekend full lockdown and curfew is coming up in Delhi. Punjab imposed a night curfew, along with many other states. So this would need to be watched if something is announced on a national level.

Financial stocks are also strongly contributing in this round of market recovery. HDFC, HDFC Bank and SBI are 11-12% away from their all-time highs. Kotak Bank is more than 20% away from their high.

Short positions are being covered and the market is moving up. A small correction from here might be possible but looks like the market is bullish. Reliance is also in a breakout zone and might contribute hugely to NIFTY if crossing the Rs 2,500 mark.

See you at The Stock Market Show at 7 PM!