Tag: Reliance share

Today’s Market Summarised

A gap-down opening and NIFTY seeing a bearish trend throughout.

NIFTY opened the day at 17,971 with a gap-down and kept on falling. Nearly 130 points down in the first hour, the market saw consolidation for many hours. With some volatile near the closing time, NIFTY closed the day at 17,873, down 143 points or 0.80%.

BANK NIFTY opened the day at 38,929 and fell throughout the day. The index fell to 38,350 and then moved up slightly near closing. Almost all stocks in the index closed in the red. BANK NIFTY closed the day at 38,560, down 463 points or 1.19%. 

NIFTY REALTY(-2.3%) and NIFTY PSU BANK(-1.8%) fell heavily in the day. All sectoral indices except NIFTY METAL(+0.36%) and NIFTY IT(-0.39%) fell more than 1%.

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

News Picks

Just less than 10 stocks from NIFTY 50 closed in the green today. Titan(+1.7%) once again closed as the top-gainer of the day.

Indian Oil(-4.4%) closed as the top-loser in the day, but it fell because of a Rs 5 dividend date.

SBIN(-2.8%) moved down again after its earnings announcement on November 3rd.

Balkrishna Industries(-5.5%) fell heavily ahead of its results today. Idea(-4.3%) also fell ahead of its results tomorrow.

Realty stocks saw profit booking in the day. DLF(-4.2%), Prestige(-3.6%), Godrej Properties(-3.2%), Sunteck(-1.9%) and Sobha(-1.4%) fell heavily.

Pidilite Industries(+4.5%), OIL India(-2.3%) and CRISIL(+9.4%) saw big moves after announcing their results.

Thermax(+13.5%) moved up after heavy order inflows were reported by the company.

Shipbuilding companies GRSE(+8%) and Cochin Shipyard(+2.6%) showed heavy buying in the day.

Tata Power(+1.1%), IRCTC(-0.3%) and SRF(-1%) saw heavy volatility in the day ahead of Morgan Stanley’s MSCI recalculation tomorrow.

India Oil Secretary says the plan to mix 20% ethanol with petrol from April 1, 2023, to help cut sugar export subsidy. Sugar stocks Balrampur Chini(+1.3%), Eid Parry(+0.03%) and Renuka Sugar(+4.8%) closed in green.

Godrej Consumer Products(-2.6%) fell in the day after reporting Q2 Consolidated Net Profit of Rs 479 crores, up 8% YoY but still below estimates.

Piramal Enterprises(-3.8%) also fell after reporting a 40% YoY fall in Q2 Cons Net Profit to Rs 419 crores.

Markets Ahead

The volatile week which started with the wild movements on Monday, continued till the last minute today. 17,800 was not broken intraday and that could have caused more fall.

Reliance continues to show strength and was in green even today while the market fell.

The U.S. inflation data did not look positive and that was the reason for bearishness in the U.S. market. But today, most Asian and European markets are in the green along with Dow Jones Futures. We will be seeing a bounce in NIFTY tomorrow if the green continues worldwide.

NIFTY IT is at a support zone and might be a decisive zone for the index in the coming days. FIIs continue to be net sellers in the month and markets continue to be weak. Let’s see if there is a change in mindset for them to take NIFTY back above 18k.

The second expiry of the month is over and hopefully, you have all made profits in the day. How was it for you? Let us know in the comments section of the marketfeed app!

Meet you all on The Stock Market Show at 7 PM on YouTube!

Today’s Market Summarised

A gap-down opening and NIFTY recovering in the day to end nearly flat.

NIFTY opened the day at 17,964 with a gap-down. The index saw heavy consolidation till noon, after which buying was seen. After crossing the 18k mark, there was a quick jump of nearly 60 points. With a fall towards the end, NIFTY closed the day at 18,017, down 27 points or 0.15%.

BANK NIFTY opened the day at 39,220 and fell heavily. After falling 350 points in the first half an hour, there was consolidation seen around the 39k zone. BANK NIFTY closed the day at 39,023, down 345 points or 0.88%. 

NIFTY PSU BANK(-2.3%), NIFTY METAL(-1.7%) and NIFTY REALTY(-1.3%) fell heavily in the day. All other sectoral indices closed with consolidation.

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

News Picks

Bharti Airtel(+3.1%) moved up after major Fund houses in the country were said to have invested Rs 1,380-crore in bonds raised by Bharti Telecom last month.

M&M(+3%) continued its bullishness after results and has now jumped nearly 7% in the last 2 days.

Britannia(+2.1%) closed among the top-gainers in NIFTY after closing as the top loser yesterday. ITC(+0.9%) and Tata Consumer(+0.8%) closed in the top-gainers with small gains.

Reliance(+1.1%) continued its bullishness from yesterday evening and closed among the top-gainers.

IndusInd Bank(-3.3%) fell heavily once again and closed as NIFTY’s top-loser. You can check out the reason for IndusInd Bank’s fall here.

Metal stocks closed among the top-losers of NIFTY 50. Hindalco(-3.2%), Tata Steel(-2.8%), Coal India(-2.2%) and JSW Steel(-2.1%) closed in the red. SAIL(-4.3%) and National Aluminium(-2.7%) also moved down.

BHEL(-8.1%) stock fell heavily disappointing Q2 earnings.

Aurobindo Pharma(+3.3%) moved up after an upgrade by a few brokerages.

Kalyan Jewelers(+3.6%) stock moved up after the company posted Q2 Net Profit Rs 68.7 crores vs Loss of Rs 360 crores last year.

NYKAA opened with a nearly 80% listing gain and closed in the green. The market cap of the company is now more than that of NIFTY 50 companies like Britannia, BPCL and Dr Reddy’s with the market cap hitting Rs 1 lakh crores.

Sugar stocks closed heavily in the green after the Govt said it is increasing the price of ethanol. Eid Parry(+0.35%), Balrampur Chini(+2.6%), Renuka Sugar(+4.8%) and others moved up.

India Cements(-5.8%) fell sharply after reporting Q2 Standalone Net Profit Rs 21.9 crores, down 70% YoY.

AsterDM(+5.5%) continued bullishness from yesterday even as other hospital stocks cooled down.

Go Air files DRHP with SEBI and SpiceJet(-1.1%) and Indigo(-0.85%) shares saw selling.

DeltaCorp(+3.6%) ended the day at its highest ever closing level.

Markets Ahead

18,050 will be a crucial level to watch for the expiry. Though NIFTY gave a 1:30 PM breakout, the index faced resistance near the level of 18,050. The close above 18,000 is an indicator of strength for NIFTY.

Wednesday volatility was seen in the afternoon when the market shot up.

UPL closed as NIFTY’s top-gainer with a breakout being seen in the daily charts. Keep a watch on the stock for further movement in the coming days. As we saw yesterday, Reliance showed bullishness and closed among the top-gainers. However, HDFC Bank continued its weakness.

On another side, RBI Governor’s statement that food inflation looks under control, along with the cut on excise duty is positive for the market. There seems to be no other positive indication for the market to move up. Foreign investors continuing to be net sellers does not give much confidence to the market, and we will need a strong buying from them to take the market up.

Seeing the consolidation in Bank Nifty and movement in Nifty, tomorrow looks like a volatile weekly expiry day!

Meet you all on The Stock Market Show at 7 PM on YouTube!

Today’s Market Summarised

A day of net consolidation after the wild movements.

NIFTY opened the day flat at 18,072 and showed volatility. The index traded in a downwards channel for the whole day with support at the 18k level. Buying was seen towards the closing and NIFTY closed the day at 18,044, down 24 points or 0.13%.

BANK NIFTY opened the day at 39,527 and was volatile just like NIFTY. It kept moving down slowly in a channel with big movements but made candles of high volatility. With consolidation in a 340 point zone, BANK NIFTY closed the day at 39,368, down 69 points or 0.18%. 

NIFTY AUTO(+1.03%) was the only sector to move more than 1%. All others showed consolidation.

Asian markets closed mixed today. European markets are trading mostly flat but slightly in the green currently.

News Picks

M&M(+3.8%) reported an 8-fold increase YoY in Q2 Standalone net profit to Rs 1,430 crores and closed as NIFTY’s top-gainer. Other auto stocks Tata Motors(+1.6%) and Hero Motocorp(+1.1%) followed it in the day.

TVS Motor(+2.7%) was at 10% Upper Circuit in the morning after rumours about plans to raise up to Rs 3,600 crores for the EV subsidiary. The stock fell in the afternoon as news came out that no negotiations were going on.

Britannia(-2.5%) closed as NIFTY’s top-loser after the Q2 results update by the company. Net profits fell 23% YoY to Rs 384 crores.

HDFC Bank(-1.7%) closed among the top-losers list with bearishness continuing post its earnings report. The stock has closed at its lowest point since September 23. Meanwhile, SBI(+1.1%) and ICICI Bank(+0.82%) closed among the top-gainers.

RBL Bank(+6.4%) is up 20% from November 1, when it had fallen from its earnings reports.

Apollo Hospitals(+2.9%) saw buying through the day after UBS raised the target to Rs 5,700 from Rs 3,850. Other hospital stocks AsterDM(+1.3%), and Fortis(+6.7%) also moved up.

Yesterday major hotel stocks except IndHotel moved up. Today IndHotel closed 3.1% up.

SUN TV(+0.76%) moved up after saying it may hive off IPL team Sunrisers Hyderabad into a separate company or go for an IPO.

According to an Edelweiss analysis, Tata Power(+3.1%) will see passive mutual fund inflows of $240 million and SRF(+2.1%) could see buying worth $230 million. Both shares moved up today.

MRF(-1.7%) fell sharply in the middle of the day after Q2 Net Profit fell more than 50% to Rs 180 crores.

IRCON(+2.8%) won its biggest order worth Rs 5,100 crores and moved up sharply intraday.

Iran lifts a seasonal ban on rice imports. India is the largest exporter of rice to Iran. Daawat(+3.2%) saw buying in the day.

IDFC reported Q2 consolidated net profit at Rs 262 crores vs Loss of Rs 142 crores last year. Both IDFC(+2.8%) and IDFC First Bank(+1.7%) closed in the green.

Steel stocks saw some selling in the day led by Jindal Steel(-2.6%), Vedanta(-1.8%), SAIL(-1%) and JSW Steel(-1.3%).

Meanwhile, Adani Enterprises(+4.2%) moved up after Adani Group paid Rs 2,440 crore to the Airports Authority of India to take possession of 6 airports it won in a bid earlier – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram.

Markets Ahead

Yesterday’s volatile movements continued into Tuesday. But at the end of the day, what we saw was net consolidation.

The 18,000 mark was held even with the volatility for the second day even without much help from Foreign Institutional Investors for the past many days.

India’s Revenue Secretary says Excise Duty cut to have the burden of Rs 60,000 crores in five months this FY. Expecting this will not have a negative effect because inflationary pressure on the economy will decrease to a small extent.

India’s retail inflation data is expected this week and any sharp jump may scare investors. Crude oil prices have created a negative impact on our economy in the past many months.

Reliance closed at its day-high towards closing and HDFC Bank is at a good support zone. Where do you see the market going in the week? Do you expect a jump or a fall? Let us know in the comments section of the marketfeed app!

Meet you all on The Stock Market Show at 7 PM on YouTube!

Today’s Market Summarised

A volatile day in the market with a sharp fall at the opening, and recovery towards the closing.

NIFTY opened the day at 18,040 with a gap-up and moved down immediately. The low from the Muhurat Trading session on Thursday was easily broken and the index fell 162 points in 15 minutes. From the low, IT stocks, Titan and Reliance pushed the market up. Once 18k was broken, the index found its pace upwards. NIFTY closed the day at 18,068, up 152 points or 0.85%.

BANK NIFTY opened the day at 39,508 and was bearish. The index touched its lowest level in November before bouncing back. By closing time, HDFC Bank and Kotak Bank pushed up the index but it failed to test the day-high. BANK NIFTY closed the day at 39,438, down by 135 points or 0.34%. 

NIFTY PSU BANK(+2.15%), NIFTY IT(+1.27%), METAL(+1.45%), REALTY(+1.38%) and MEDIA(+1.42%) all gained more than 1% in the day. NIFTY PHARMA(-0.70%) and NIFTY BANK closed in the red.

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

News Picks

TITAN(+4.32%) closed as NIFTY 50’s top-gainer, moving back up to near its all-time highs. 

Shares of Oil Marketing companies shot up with expectations of higher demand after the Central Govt reduced taxes on Petrol and Diesel. IOC(+4.3%) and BPCL(+2.85%) closed among the top-gainers of NIFTY 50. Hindustan Petro(+7.4%) also shot up.

Cement stocks shot up in the day with UltraTech Cement(+4.23%) closing at record highs. Shree Cements(+1.5%), Ambuja Cements(+4%) and ACC(+3.6%) closed in the green among others.

Heavyweights Kotak Bank(3%) and HDFC(+2.75%) closed with gains. Bajaj Finserv(+4.12%) also moved up to help the Fin Nifty close in green while Bank Nifty closed in the red.

IndusInd Bank crashed over 10% after a senior employee group reported RBI of lapses in corporate governance in the Bank’s microfinance arm. The bank denied allegations and reported that a technical glitch caused the issuance of unwanted loans.

Divi’s Lab(-6%) shares fell nearly 6% after reporting its Q2 numbers on Saturday. The pharma company reported a standalone net profit of ₹606 crores for Q2, up 18% YoY. 

SunTV(-5%) shares also fell after reporting its profit numbers on Saturday. However, the rally in Inox Leisure(+5%), PVR(2.2%), Network 18(+6%), TV18(+5.8%) and ZEEL(+2%) kept the Media index in bright green.

Shares of Canara Bank(+6.75%) rallied once again, after receiving upgrades in credit ratings for its Tier I & II bonds. The stock is now up more than 60% from its Qualified Institutional Placement equity issue in August.

Shares of gold-backed lender Muthoot Finance(+8.5%) gained sharply to hit all-time highs after it reported good Q2 numbers. It was followed by Manappuram(+5%).

ICICI Prudential Life(+4.5%) is trying to give a breakout in the daily charts. Keep an eye on it. SBI Life(+1.5%) also gained.

Pfizer closed up by 5% over the developments in its antiviral Covid-19 drug.

Hotel stocks saw a jump in the day with EIHotels(+7%), Chalet(+6.5%) and Wonderla(+5%) closing in the green. However, Tata Group’s Indian Hotels closed in the red after Thursday’s rally.

Other hospitality stocks including Barbeque Nations(+12.3%) and Jubilant Food(+2.5%) also gained. BBQ Nation shares are up more than 50% from October end.

Markets Ahead

The week has started with a lot of volatility in both NIFTY and BANK NIFTY. The IT index has also bounced back from its lows after the TCS results.

An indication of high volatility in the coming days has also been signalled with INDIA VIX also jumping up today. 

There is also a positivity in the market with petrol prices coming down. India is a heavy crude importing country, and this will help inflation to cool down. India’s inflation data is also set to be out soon.

Keep a watch on bluechip companies in the coming days. NIFTY 50 may move up further after sustaining above the 18,080 mark by market closing time.

Bank Nifty is yet to regain strength and may remain weak especially with IndusInd Bank creating uncertainties. Analysts have not changed their views on the stock, but if the allegations are true it can be an issue. We will be covering it in an in-depth article.

Meet you all on The Stock Market Show at 7 PM on YouTube!

Today’s Market Summarised

NIFTY opened the day at 17,950, and tried to move up. But 17,980 levels were strong enough to kick Nifty down. Then it was hours of pure downtrend, with Nifty falling near 19,750 support. Nifty tried to bounce back strongly from multiple support levels below 17,800, but all were failed attempts at the day end. NIFTY closed the day at 17,829, down 59 points or 0.33%.

BANK NIFTY opened the day at 40,006 and consolidated for nearly 2 hours. Then it started to move down, but took support around 39,380 and bounced back. But unfortunately 40k acted as a super resistance and the index again fell near 39,300. BANK NIFTY closed the day at 39,402, down by 536 points or 1.3%.

NIFTY REALTY(+1.9%) didn’t give much care to the bearishness in Nifty. NIFTY Auto and Nifty Media closed 1% down. Nifty Metal(+0.9%) closed in the green while Nifty IT closed with zero changes.

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

News Picks

SBI(+1.1%) posted a Q2 standalone net profit of Rs 7,626 crore, the highest ever for the Bank, up 67% over last year. During the same quarter of last year the bank reported a profit of Rs 4,574 crores.

LT(+4%) moved up with expectations of higher order inflows during the October-March period (H2FY22).

 Major Realty stocks also closed in green including Sobha(+9.8%), GodrejProp(+3.3%) and Oberoi Realty(+6.3%) moved up. Realty related stocks such as Ultra Cements(+2.2%), Asian Paints(+2.1%) also moved up.

IOC(+1.3%) closed in the green after announcing the plans to enter the EV sector by setting up 10,000 EV charging stations in the next three years.

Tata’s retail stock Trent(+5.2%) moved up after it reported a consolidated net profit of Rs 79.99 crore for the second quarter, yesterday.

Indian primary steel mills are expected to raise prices of flat steel for Nov’ 21, with the Metal index closing in green. Metal stocks Hindalco(+2.1%), JSW Steel(+1.1%), Tata Steel(+0.9%), closed in the green.

Vodafone Idea(-1.5%) has partnered with Nokia India for 5G trials but fell along with other telecom stocks including Bharti Airtel.

Markets Ahead

Market was in a mood for heavy consolidation in the first half of the day following IT and BANK stocks.

But just around noon, selling was seen all around the market. Even Bank Nifty broke the consolidation and fell below the 40k mark.

Just after noon, SBI results almost gave a V-shaped recovery in Bank Nifty but it could not break the 40,000 mark. And just like it went up, the index feel even sharply to day-low.

There were 2 things that were certain to cause volatility today. The SBI results and the weekly expiry and both indeed causing huge moves.

There is a Muhurat Trading session tomorrow evening and we’ll be writing an in-depth article on it. But otherwise, today was the last full trading day in the week.

Hope a majority of you could turn the week net profitable. Meet you all on The Stock Market Show at 7 PM on YouTube!

Today’s Market Summarised

The market opened with a gap-up and moved down, with consolidation seen in most indices.
NIFTY opened the day at 17,969 and tried to cross the 18k mark. But once this bullishness failed, the index slowly started moving down. After trading in a 100 point zone with mostly consolidation, NIFTY closed the day at 17,888, down 40 points or 0.23%.

BANK NIFTY opened the day at 39,796 and was volatile. It made a day-low around 10:30 AM and shot back up 500 points. With consolidation towards the end, BANK NIFTY closed the day at 39,938, up by 174 points or 0.44%. 

NIFTY REALTY(+3.3%) and NIFTY PSU BANK(+2.3%) closed more than 1% in the green. NIFTY METAL(-1.5%) fell after yesterday’s bullishness. 

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

News Picks

Shares of Maruti(+1.5%) closed as NIFTY’s top-gainer, touching its highest levels since January on the back of good volumes. Keep an eye on the stock which is now moving up after the Q2 results.

NTPC(+1.7%) gained after starting commercial production at its 80 MW Solar project in Jetsar.

Titan closed among the top-gainers of NIFTY 50. Titan Jewelry CEO said they are seeing a good rise in gold demand in all segments.

SBIN(+1.1%) moved up slowly ahead of its results tomorrow. All stocks in the PSU Bank Index closed in green with Union Bank(+5.6%), Canara Bank(+4.4%) and J&K Bank(+8.2%) outperforming.

Tata Steel(-3.7%), JSW Steel(-2.3%), Hindalco(-2%) and Grasim(-2.5%) closed in the top-losers list of NIFTY after gaining yesterday.

Shares of agrochemical company PI Industries(-7.2%) fell sharply after its deal with active pharmaceutical ingredient maker Ind Swift Laboratories was cancelled. Ind Swift Laboratories(+10%-UC) shares were locked in the upper circuit. 

RBL Bank(+11.7%) and Shriram Transport Finance(+10.1%) gained after reporting good results. Bandhan Bank(+8%) moved up after RBI approved it as an agency bank to conduct government businesses.

All stocks in the NIFTY Realty index closed in green again with DLF(+5.1%), IB Real Estate(+9.3%), Prestige(+6.4%), Sobha(+4.6%) and Brigade(+4.8%) sharply moving up.

Transport Corp of India(+12.2%) sold a 20% stake in its cold chain business to Japanese company Mitsui & co for Rs 63.5 crores and the stock shot up.

Sun Pharma(+0.44%) shares shot up from day-low after reporting Q2 consolidated net profit at Rs 2,050 crores, up 10% YoY and above estimates.

CholaFin(+3.5%) Q2 reported consolidated net profit at Rs 303 crores, up 21% YoY.

Markets Ahead

A lot of midcap and smallcap stocks have now bounced back from the lows of Friday. 

NIFTY as seen last Thursday, may not give much importance to the 18,000 level. Keep an eye out for the level of 18,050 for bullishness. 

Tomorrow’s big event would be the Q2 results of SBI, which could move BANK NIFTY. Also, remember that tomorrow is the weekly expiry in our markets and also the end of the trading week.

Once again, there is heavy call writing seen at the 18,000 level with fewer contracts on the put side. This generally indicates bearishness, but also keep in mind that if this level is breached, there could be short covering and further up move.

Meet you all on The Stock Market Show at 6 PM on YouTube!

Today’s Market Summarised

A bullish start to the week with most NIFTY 50 stocks closing in the green.

NIFTY opened the day at 17,788 with a small gap-up and was highly volatile for the first hour. Just before 11 AM, the market bottomed out and started moving up in a channel. Once the day high was broken, heavy buying took the index even higher. NIFTY closed the day at 17,929, up 258 points or 1.46%.

BANK NIFTY opened the day at 39,446 and was volatile like NIFTY. It continued to follow the benchmark indices patterns and at around 1:30 PM, broke the day-high of 39,500. The last-minute power took the index above Friday’s high and BANK NIFTY closed the day at 39,764, up by 648 points or 1.66%. 

NIFTY REALTY(+4%), NIFTY METAL(+3%), NIFTY IT(+2.5%) and NIFTY MEDIA(+2.5%) outperformed in the day. All sectoral indices closed with more than 1% gains.

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

News Picks

IndusInd Bank(+7.8%) closed as the top-gainer in NIFTY 50, nearly gaining to its levels last Thursday after results were announced.

Metal stocks were highly bullish in the day along with Realty shares after Asia’s manufacturing activity grew in October as emerging economies saw Covid-19 infections reduce. Hindalco(+4%) and Tata Steel(+3.7%) closed in NIFTY’s top-gainers.

SAIL’s(+8.8%) 8-fold increase in net profit numbers pushed the stock up. Other metal stocks including National Aluminium(+4.5%), Jindal Steel(+3.2%) and JSW Steel(+2.9%) also moved up.

Telecom stocks were in focus after Reliance(+0.06%) launched its much-awaited Jio Phone Next for Diwali. Analysts predicted that there would be no significant impact on the industry, and Bharti Airtel(+3.9%) and Idea(+5.7%) shot up. Indus Towers(+5%) also closed in the green. Reliance was in the red mostly, but recovered near closing time.

TechM(+3%) and HCL Tech(+3.9%) stocks closed in the gainers list after falling heavily last week. Other IT stocks including Infosys(+1.9%), TCS(+2.3%), Mindtree(+5.3%), Coforge(+4.2%) and LTTS(+3.7%) closed in the green.

Dr Reddy(+3%) closed among top-gainers with a good recovery in net profit and revenue numbers. SunPharma(+2.1%), Lupin(+2.3%), Glenmark(+2%) and Divis Lab(+1.5%) also moved up.

UPL(-2.7%) opened and saw heavy selling after reporting its results over the weekend.

Auto sales data have started coming out for the month of October. Escorts(-1.5%) reported a 1% YoY fall in Agri Machine Total Sales Unit  to 13,500 units.

M&M(-1.5%) fell after reporting October sales numbers 8% down YoY to 41,908  units.

Two-wheelers stocks mostly tried to close in the green, led by Eicher Motors(+3%) and TVS Motors(+1.3%). Bajaj Auto(+0.5%) also closed slightly in the green.

IOC(+2.8%) to set up a mega-scale Maleic Anhydride plant at Panipat, for an investment of Rs 3,681 crores.

Lux Industries(+6.9%) jumped up after posting Q2 Net Profit Rs 100 crores vs Rs 51.2 crores last year.

Maruti(+1.7%) gained after October Total Sales came out at 1.38 lakh units, down 25% YoY but better than estimates. 

Meanwhile, Tata Motors(+0.4%) reported a 30% YoY increase in October Total Domestic Sales to 67,829 units. However, they reported a Rs 4,441 crores net loss for Q2 after the market closed.

HDFC(+1.5%) reported Q2 net profit at Rs 5250 crores, up 14% YoY and better than estimates.

DeltaCorp(+6.4%), PVR(+3.1%), IndHotel(+5%), Chalet(+4.3%), EIHOTEL(+1.3%) – Hotel and theatre stocks closed in the green.

Realty stocks were highly bullish in the day, Godrej Properties(+5%), Lodha(+8%), Sobha(+7.5%), Brigade(+3%) and Oberoi Realty(+6.5%) outperformed.

Markets Ahead

A good bounce back in the market from Friday’s fall. The question is now if this up move will be sustained. India’s Oct Nikkei Markit Manufacturing PMI shows an expansion at 55.9, compared to September. 

On the other side, inflation is expected to rise as LPG prices for commercial cylinders increased by Rs 266 today.

Many stocks have bounced back from their good supports but those may break if tested and the market moves down again. Just like last day when most stocks closed in the red, today most closed in the green.

We can expect 17,600 for NIFTY to be the first support below 17,750. If 18,000 is broken tomorrow on the upper side, we can expect more move towards the upper side because of the heavy call writing at that level.

Meet you all on The Stock Market Show at 6 PM on YouTube!

Today’s Market Summarised

A highly volatile day in the market with sharp movements to both sides and finally ending in the red.

NIFTY opened the day at 17,833 with a small gap-down and crashed down. After a fall of more than 200 points, the index went back up even above the day-high jumping 300 points in less than 2 hours. This gain was not sustained and the market fell slowly throughout the day back to near day-lows. NIFTY closed the day at 17,671, down 185 points or 1.04%.

BANK NIFTY opened the day at 39,440 and crashed down 1,000 points in 10 minutes. The index took support at 38,400 and nearly went up till 39,800, a rally of more than 1,350 points in less than two hours. From the day-high, another fall of 1,000 points was seen followed by a 500 points jump.

BANK NIFTY closed the day at 39,115, down by 393 points or 1%. 

NIFTY PSU BANK(+1.45%) was the only index to gain significantly after yesterdays fall. NIFTY IT(-1.45%), FIN NIFTY(-1%) and BANK NIFTY(-1%) closed in the red.

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

News Picks

Cement stocks closed among NIFTY 50’s top-gainers of the day. Ultra Cement(+2.5%) and Shree Cements(+1.5%) gained continuing bullishness in the last two days. Shree Cements reported Q2 net profits at Rs 580 crores, jumping 5% YoY.

Others including India Cements(+2.4%), ACC(+2%), Ambuja Cements(+3.7%), Ramco Cement(+4.1%), JK Cement(+3.3%), Orient Cement(+1.4%) also gained.

Dr Reddy’s(+1.9%) reported Q2 net profit at Rs 990 crores vs Rs 380 crores last quarter. The numbers were much better than the estimate of Rs 715 crores.

Maruti(+1.5%), Cipla(+1.4%) and UPL(+1.4%) gained in the day, despite the market falling.

IT stocks closed lower with TechM(-3.6%) and Infosys(-2.1%) leading the fall. Coforge(-3.2%), Wipro(-1.5%) and Mphasis(-1%) also fell.

Kotak Bank(-3.2%), IndusInd Bank(-3%), Axis Bank(-2.1%) and HDFC(-1.9%) closed among the top-losers from the financial sector.

IRCTC fell heavily in the morning, hitting multiple lower circuits but gained back and closed 7.42% in the red. The reason was that the service charge collected on ticket bookings would now have to be shared with the railways but later reversed that order.

RBL Bank(-10.2%) crashed after disappointing Q2 net profit numbers.

Canara Bank(+9.7%) jumped sharply to hit a multi-year high even when the rest of the market was falling with heavy buying. MD of the Bank had said that there is no stress on the retail loan book and that growth is being seen.

Shares of Indigo(+8.8%) fell nearly 7% intraday but closed strongly in the green after announcing the 7th consecutive quarter of net losses.

Alcohol stocks closed in green with United Spirits(+6.1%), UBL(+1.6%), Globus Spirits(+0.5%) and GM Breweries(+4.5%) closing in the green. Radico(-1.1%) closed in red.

Gujarat Gas(+4.7%) and Lupin(+4.6%) closed in the green after brokerage upgrades. Voltas(+4.2%) moved up after reporting good Q2 results.

Markets Ahead

Markets once again moved down, failing to hold the morning gains. A clear sign of weakness in the day falling even after going to green in the morning.

All sectors got hit hard in the week. One of the worst weeks’ in the market in many months. It was the worst week for NIFTY since February.

NIFTY is supposed to continue the weakness in the coming days if 17,600 is broken on the lower side. 

Once again, NIFTY Midcap and Smallcap did not fall as much as the general market.

Interestingly, even with the volatility, INDIA VIX fell today. So we can expect some consolidation if 17,500-17,600 is taken as support.

How did October go for you? Let us know in the comments section of marketfeed app!

Meet you all on The Stock Market Show at 6 PM on YouTube!

Today’s Market Summarised

A continued day of bearishness with the market falling heavily towards the end.

NIFTY opened the day at 18,188 and was bearish from the start. The index tried to take support above 18k multiple times but once that was taken out, there was no looking back. Just from 2 PM, the market fell 150 points. NIFTY closed the day at 17,857, down 353 points or 1.94%.

BANK NIFTY opened the day at 40,931 and kept on falling 40,000 by 11 AM. After more than two hours of consolidation, the index fell again 670 points to day-low. By falling till the end of the day, BANK NIFTY closed the day at 39,508, down by 1365 points or 3.34%. 

Nifty PSU Bank(-5.2%) fell heavily in the day, followed by NIFTY METAL(-3.4%), NIFTY BANK(-3.3%) and NIFTY REALTY(-3.7%). No sectoral index closed in the green today.

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

News Picks

Only 7 stocks in NIFTY 50 closed in the green today. 

IndusInd Bank(+2.9%), Larsen and Toubro(+1.6%) closed in the green even though they could not sustain the morning gains. Both companies had reported better than expected earnings yesterday.

Meanwhile, ITC(-5.6%) fell after reporting its results yesterday. Tata Chem also fell.

Adani Ports(-7.7%) and Adani Enterprises(-10.7%) fell heavily in the day after reporting poor results. Other Adani stocks including ATGL(-4.5%), Adani Power(-4.8%) and Adani Transmission(-4.3%) also crashed.

ONGC(-4.8%) closed among top-losers of NIFTY after crude oil prices fell 5% from last week’s high.

Coal India(-4%) also fell heavily with international coal prices temporarily moving down.

IRCTC(+11.8% from day open) moved up after its 1:5 stock split.

Shares of Punjab National Bank(-10.6%) fell heavily after reporting their Q2 results today. A fall in revenue was not appreciated by market participants even though net profits jumped up.

V Guard Industries(+4.5%) reported Q2 Consolidated Net Profit up nearly 15% YoY to Rs 59.3 crores and moved up.  Meanwhile, Lupin(-5.8%) and Marico(-1.9%) fell after their results announcement.

Markets Ahead

Markets in the day fell heavily on the day of monthly expiry. We also saw many Foreign Institutional Investors downgrading Indian Equities, which ended up in a marketwide sell-off.

NIFTY fell below the 18,000 level and kept on falling. Intraday players would have once again made heavy profits or losses as the market was trending in the morning, consolidated in the afternoon and fell near closing.

Even as the market-wide sell-off happened, NIFTY Midcap and NIFTY Smallcap did not fall as much as usual. Markets might consolidate tomorrow in India as Dow Jones Futures are now trading in the green and as the November monthly series begins.

Hope you had a great expiry day! Let’s make November even better!

Meet you all on The Stock Market Show on YouTube!

Today’s Market Summarised

NIFTY opened the day at 18,305 with a small gap-up and then consolidated till 2:15, with failed intermittent efforts to break consolidation. Market-wide profit booking kicked in and the index fell heavily. NIFTY closed the day at 18,210, down 58 points or 0.31%.

BANK NIFTY opened the day absolutely flat at 41,253 and after an initial 5-min red candle, started moving up to take resistance at 41,350. The index consolidated and finally fell along with other sectors. BANK NIFTY closed the day at 40,874, down by 363 points or 0.88%. 

Nifty PSU Bank(+2%) and Nifty IT(+0.97%) closed in the green while Nifty Media(-2%) and Nifty Metal(-1.5%) fell heavily.

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

News Picks

Today, Nifty top gainers list is filled with stocks from multiple sectors including Pharma, FMCG, Bank, IT, etc.

Asian Paints(+4.2%) closed as the Nifty-50 top gainer with plans to hike prices by 7-10 percent. The 2900 level is acting as a support and you can watch the stock in the coming weeks.

Cipla closed 1.6% up after reporting a flat Q2 earnings(QoQ) yesterday. Divis Lab(+2.6%) and SunPharma(+1.4%) also closed in the green.

Cement stocks performed well with Shree Cements(+1.1%) featuring in the top gainers list. Other cement stocks including Ramco Cements(+1.6%), Ultra Tech(+1.1%), JK Cements(+0.8%), Orient Cement(+3.4%), JK Lakshmi Cement(+5.5%) also closed in the green.

UPL(+3.9%) moved up after results from Sharda Corp(-2.6%).

SBIN(+1.2%) hit a fresh all-time high and closed 1.2% up.

Axis Bank(-6.4%) saw profit booking after reporting an 86% rise in YoY net profit yesterday. 

Profit booking after results kicked into Bajaj Finance(-4.7%) also. Bajaj Finserv(-1.8%) also closed in the red.

Stocks from FMCG sector including MCDOWELL-N(+5.8%), GodrejCP(+4.7%), Radico(+2.8%), Marico(+2.1%), Dabur(+1.7%), UBL(+1.7%), Emami(+1.6%), Tata Consumer(+1.2%) and ITC(+0.7%) performed well.

Not a good day for Nifty Metal with Vedanta(-.6%), Nationalum(-4.5%), Jindal Steel(-3.4%), SAIL(-2.4%), APL Apollo(-2.2%), Welcorp(-2%) closing in the red.

Larsen & Toubro Info(+2.3%) has been selected as a Microsoft Azure expert managed services provider.

UBL(+1.7%) said that the beer business in India grew by close to 50% in this quarter.

Tube Investment(+2.1%) has decided to issue NCDs worth up to Rs 100 crores.

The shares of TTK PRESTIGE(+15.3%) soared after it reported a Rs 103 crore consolidated net profit in the second quarter compared to Rs 65.6 crores last year. It has approved a split of shares from a face value of Rs.10 each into Re.1 each.

JK Paper(+5.6%) posted a consolidated net profit of Rs 120 crores in Q2. Other paper stocks such as Orient Paper(+4.3%), Star Paper(+2.1%), Emami paper(+1.4%), Genus Paper(+3.7%), Pudumjee Paper(+4.1%) gained well.

Vardhman Textiles(+9.9%) moved up after reporting a Rs 480 crore consolidated net profit in the second quarter compared to Rs 60.2 crores last year: The estimate was at Rs 300 crores.

IIFL Finance(+5%-UC) reported a Rs 291 crore consolidated net profit in the second quarter compared to Rs 212 crores last year. The estimate was at Rs 130 crores.

ITC(+0.74%) became volatile with media reports saying that an India expert panel is likely to suggest raising national calamity contingent duty on tobacco in the next FY budget. It may also suggest ways to raise tax on tobacco to 80% of the retail price in coming years.

Maruti Suzuki(+0.8%) reported a Rs 475 crore consolidated net profit in the second quarter ended September against Rs 1419 crores last year. The estimate was at Rs 700 crores. Maruti has sold a total of 379,541 units during the quarter and it had more than 200,000 pending customer orders at the end of the quarter. 

Indian Overseas Bank(+1.35%) reported a standalone net profit of Rs 376 crores vs Rs 148 crores last year.

Markets Ahead

NIFTY consolidated with a positive mood till 2 PM and fell heavily becoming weak following the European markets.

Bank Nifty was also in a good consolidation mood in the day and falling like NIFTY at the end. Keep a continued watch on IDFC First Bank and AU Bank among others.

FMCG and IT sectors closed in the green as market participants started being defensive. NIFTY FMCG took support where we had mentioned and moved up.

Markets in general look weak. Let’s see how the US markets move!!!

Meet you all on The Stock Market Show at 6 PM on YouTube!

Today’s Market Summarised

NIFTY breaks its bearish trend and closes strongly in the green, powered by heavyweight stocks.

NIFTY opened the day at 18,160 with a small gap-up and tried moving up. But after moving more than 100 points in 30 minutes, resistance was taken and the index fell more than 160 points. The second half of the day was bullish and the index moved up sharply till the closing time. NIFTY closed the day at 18,268, up 143 points or 0.79%.

BANK NIFTY opened the day at 41,084 and tried to move up. But the index lost steam and even fell below till near the 40,800 mark. Results from Kotak Bank injected some positivity into the index, but it could not  break the morning’s high level. BANK NIFTY closed the day at 41,238, up 46 points or 0.11%. 

All sectoral indices closed in the green. NIFTY REALTY(+3.6%), NIFTY METAL(+2.6%), NIFTY AUTO(+2%) and NIFTY MEDIA(+2.6%) closed well in the green while others consolidated.

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

News Picks

Tata Motors(+6%) closed as top-gainer of NIFTY 50 after brokerage firm Jefferies raised target on the stock.

Metal stocks closed with bullishness with Tata Steel(+3.8%), JSW Steel(+2.9%) and Hindalco(+2.7%) closing in green.

HindCopper(+4.9%), Jindal Steel(+4.8%), SAIL(+3.8%) and National Aluminium(+2.1%) also gained.

4 banks closed in the top-losers of NIFTY 50. IndusInd Bank(-1.9%), ICICI Bank(-1.4%) closed well in the red while Axis(-0.38%) and HDFC Bank(-0.26%) were slightly in red. 

Meanwhile, Kotak Bank(+2.6%) closed among the top-gainers after publishing its Q2 results during market hours. Standalone Net Profit came out at Rs 2,030 crores, up 5% YoY, better than estimates.

Indus Towers(-2.4%) fell sharply from the gap-up opening with profit booking after posting a 38% YoY increase in consolidated net profit to about Rs 1,559 crore for Q2.

TechM(+2.5%) closed in the green after reporting its Q2 numbers with revenue up 7% at Rs 10,881.30 crore compared to last quarter. 

Tata stocks generally closed in the green, led by NIFTY 50 companies Tata Steel(+3.8%) and Tata Motors(+5.9%) and Tata Consumer(+2.5%). Tata Power(+5.4%), Trent(+2%), Indian Hotels(+0.78%), Tata Coffee(+0.9%), Tata Elxsi(+1.1%) and more also moved up.

IEX(+4.7%), IRCTC(+4.1%), MCX(+2.3%) and others gained back slightly after many days of fall.

Midcap banks AU Bank(+4.8%), IDFC First Bank(+7%), RBL Bank(+2.7%) and PNB(+2.1%) closed well in the green today.

In a big decision in ZEEL’s(+4.3%) favour, the Bombay High Court barred Invesco from calling an Emergency General Meeting and the stock flew up.

Canara Bank(-4.2%) reported Q2 Net Profit at Rs 1,330 crores, more than 3x from last year. However, profit booking was seen.

Paint Companies broke their losing streak, Asian Paints(+1.7%) & Berger Paints(+2.7%) were bullish near closing time.

Jindal Stainless(+15.2%) closed with bullishness after Q2 Cons Net Profit came out at Rs 408 crores, nearly 5x from last year.

Reliance(+2.2%) BP Mobility launches 1st Jio-BP branded mobility station at Navi Mumbai, Maharashtra. The stock closed with bullishness.

Markets Ahead

The results season is making the market move sharply up and down. If you watch the trendline which NIFTY had broken last day, the index moved back up above it near closing time. 

This last-minute move was sponsored by bullishness in Bajaj Finance and Bajaj Finserv along with ITC and who is set to announce results soon. Reliance also managed to move up well near closing time.

Bank Nifty was in a good consolidation mood in the day. Keep a continued watch on IDFC First Bank and AU Bank among others.

There is news that China locks down Lanzhou, over Covid cases. Lanzhou is the biggest producer of textiles, machine tools, and mining tools – so keep an eye on listed companies from this sector.

NIFTY IT looks like it is trying to take support as seen in the 1D charts. We are also seeing healthy buying returning to the mid and smallcap stocks indicating that the current bearish phase in the market is over.

How did Tuesday go for you? Expecting a gap-up after Bajaj Finance results tomorrow?

Meet you all on The Stock Market Show at 7 PM on YouTube!

Today’s Market Summarised

NIFTY once again opens with a gap-up and closes with a red candle for the sixth day in a row.

NIFTY opened the day at 18,241 with a gap-up and fell 120 points in the first 5 minutes. As the day began, it even broke the 18k support but quickly recovered. After trading in a wide zone, NIFTY closed the day at 18,125, up 10 points or 0.06%.

BANK NIFTY opened the day at 41,024 with a big gap-up of 700 points. ICICI Bank was extremely bullish and the index went up and up with power from the stock. After touching an all-time high above 41,800, the bulls calmed down a bit and a correction of 800 points was seen. BANK NIFTY closed the day at 41,192, up 868 points or 2.15%.

BANK NIFTY(+2.1%), FIN NIFTY(+1.3%) and NIFTY PSU BANK(+1.1%) closed in the green. NIFTY AUTO(-1.1%), NIFTY IT(-1.1%) and NIFTY FMCG(-1%) fell again while others consolidated.

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

News Picks

ICICI Bank(+10.8%) closed as NIFTY’s top-gainer after an extremely bullish session in the market. The stock was boosted by its Q2 results published on Saturday.

Other Banking stocks, Axis Bank(+3.4%) and SBIN(+0.7%) also moved up and closed in the top-gainers list.

After news last week that Global oil major ExxonMobil Corp is looking at buying a stake in some of the local deepwater fields of Indian explorer ONGC(+2.7%), the stock moved up. Crude oil prices are also moving up internationally.

On the same lines, BPCL(-3.4%) may be facing issues in its road to privatisation with the increasing crude prices and bidders struggling to find partners. The stock closed as top-loser in NIFTY 50.

NIFTY Auto continued its correction and Bajaj-Auto(-2.6%), Tata Motors(-2.2%) and Hero MotoCorp(-2%) closed among the top-losers.

IRCTC(-12.9%), IEX(-8.5%) and MCX(-6.7%) continued to fall heavily and closed in deep reds.

PVR(+6.1%) closed in the green after saying that good movies are lined up for release in Diwali week and that they are expecting good demand recovery.

Railways related stocks which had moved up last day, all went back down in the day. IRCTC(-12.9%), RVNL(-10%-LC), IRFC(-3.2%) and RAILTEL(-4.3%) closed in the red. We had written an article today on the fundamentals and state of their financials.

Shares of Ami Organics(-15.6%) fell sharply after the company said it is seeing margin pressure because of an acquired unit.

Asian Paints(-2.6%) closed in the red after announcing poor results and a fall in margins due to increasing crude oil prices. Other paint stocks including Berger Paint(-2.5%), Indigo Paints(-0.74), Akzo Nobel(-2.4%) and Kansai Nerolac(-1.2%) also moved down.

MCX, Colgate, SRF fell after posting lower-than-expected earnings.

Markets Ahead

The market was supported today by Bank Nifty and especially ICICI Bank. The stock alone gave nearly 140 points to NIFTY without which there would have been a sharp fall below the 18,000 mark today.

The sell-off in mid and smallcap stocks are continuing even as NIFTY holds on. As we discussed on Friday, the results season is not helping these stocks.

The 4-day losing streak in NIFTY has been broken as it closed in green. But on the daily charts, there is still a red candle formed. While today’s green was supported by ICICI Bank alone, there would need to be more to keep NIFTY floating above 18k this week.

How did Monday go for you? Did you have ICICI Bank in your portfolio? Let us know in the comments of the marketfeed app!

Meet you all on The Stock Market Show at 7 PM on YouTube!