Tag: Reliance share

Today’s Market Summarised

Nifty moves up towards the second half of the day and closes strongly in the green.

Nifty opened the day flat at 17,665 and consolidated with resistance near 17,710. Just after 12:40 PM, the index gave a proper breakout.  The bullishness was seen and the index shot up more than 120 points in 2 hours. Nifty closed the day at 17,822, up 131 points or 0.74%.

Bank Nifty opened the day at 37,503 and consolidated all through the morning. Along with other indices, Bank Nifty also moved up in the afternoon. After consolidating near yesterday’s high for a while, the index moved up once again but could not test 37,800. Bank Nifty closed the day at 37,741, up 161 points or 0.43%.

Nifty IT(+1.1%) moved up considerably in the second half of the day. Nifty Realty(+1.3%) moved down.

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

News Picks

ONGC(+10.8%) shares hit a 2-year high with crude oil prices moving to their highest level since 2014. 

Other energy-related stocks including IOC(+2.8%), Reliance(+2%), BPCL(+1.8%) and even Coal India(+4.2%) closed in the top-gainers list of Nifty 50. Multiple agencies had given positive commentary for these companies as price hikes on gas came into effect.

Coal Ministry in its next year agenda said that Coal India should diversify its business & explore prospects in areas like EVs & charging stations.

Reliance touched a fresh all-time high above Rs 2,600 with a market cap reaching Rs 17.5 lakh crores.

Cipla(-2.4%) continued its second day of featuring in the top-losers list of Nifty 50. The stock is seeing a rejection near its 52-week high. SunPharma(-1.3%) also closed in the red.

The Government of India told the Supreme Court that it may not try the recovery of spectrum user charges from telecoms. Bharti Airtel(+2.6%), Indus Tower(+1.9%), Vodafone Idea(+1.3%) and even IndusInd Bank(+4.3%) moved up after this news. However, the Supreme Court was not keen on the idea.

TATA Power(+6.4%) and TVS Motors(+0.27%) entered into an agreement to collaborate on an electric two-wheeler charging eco-system in India.

Paper prices have increased by Rs 2,000-3,000/MT in October. Paper stocks – JK Paper(+5.9%), Orient Paper(+3.2%), Andhra Paper(+3.1%) and STAR Paper(+2.2%) closed in the green.

With Term Insurance prices expected to increase, Life Insurance stocks gained in the day. ICICI Prudential(+0.35%), SBI Life(+2.5%) and HDFC Life(+0.89%) closed in the green.

PEL(+4.8%) shares continued their rally to reach a 3-year high after completing the acquisition of DHFL.

Realty and Metal stocks closed mostly in the red with many including National Aluminium(-2.5%), Godrej Properties(-2.2%), DLF(-2%), and Hindalco(-2%) correcting after touching fresh 52-week highs yesterday.

Bharti Airtel’s- 21,000-crore rights issue opened today. Read more about rights issues here. 

Gas prices in Europe are at new historic levels. GujGas(+2.9%), GAIL(+1.9%) also closed in the green along with ONGC and Reliance.

Markets Ahead

India’s September Services PMI was at 55.2, increasing expansion but at a slower rate compared to last year. There were also new hirings after nine months and demand recovery for Indian companies.

Nifty has given a strong bounce back from its 17,450-17,500 support zone. Major stocks in the index, especially IT shares moved up despite the tech sell-off around the world. We had yesterday discussed that they could bounce back up from current supports ahead of the Q2 results announcements.

Reliance breaking out and sustaining above Rs 2,600 may cause more rally in the stock. IT stocks are also expected to move up in the coming days. So there will be pressure of profit booking on financial stocks including Banks and NBFCs like HDFC.

The European markets in the green and U.S. Futures also indicate a gap-up tomorrow. Let us keep watching 17,850 and 17,950 levels in Nifty as resistance and 17,660 as support. In Bank Nifty, you can watch 37,880 and 38,000 as resistances with 37,400 and 37,000 as supports.

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

Today’s Market Summarised

Nifty bounces back slightly from last week’s fall and closes in the green.

Nifty opened the day with a gap-up at 17,616 and moved up. By 11 AM, the index touched an intraday high of 17,750 but could not continue the rally. A small fall was seen and the index traded for the rest of the day between 17,660 and 17,720. Nifty closed the day at 17,691, up 159 points or 0.91%.

Bank Nifty opened the day at 37,400 with a gap-up and slowly moved up. A pattern similar to Nifty was seen and the index mostly consolidated in the afternoon. Bank Nifty closed the day at 37,579, up 354 points or 0.95%.

Nifty PSU Bank(+2.1%), Nifty Metal(+3%), Nifty Realty(+2.1%) and Nifty Media(+2.6%) all moved more than 2% up. All sectoral indices closed in the green.

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

News Picks

Divislab(+8%) closed as Nifty’s top-gainer after the drug Molnupiravir was found to reduce the risk of hospitalisation or death by approximately 50% by American Pharma company Merck. Divislab is Merck’s Authorized manufacturer for India. 

Metal stocks continued their slow recovery with Hindalco(+4.4%) and Tata Steel(+2%) closing among the top-gainers of Nifty 50. Other stocks including SAIL(+4.7%), Jindal Steel(+4.1%), Vedanta(+4.3%) and NMDC(+3.3%) closed in the green.

Graphite(+3.2%) and HEG(+11.8%) also closed in the green.

There are news running around that National Aluminium(+10%) and Hindustan Copper(+10.4%) are candidates for privatisation.

Cummins India(-2.7%) continued its bearishness on concerns of the draft bill seeking to reduce diesel generator use.

IRCTC(+5.6%) continued to rally and moved up to all-time highs above Rs 4,000. The record date is 29 October.

Quick Heal(+1.6%) introduces a new version of its flagship security products for consumers.

Reliance(+1.2%) touched all-time highs and closed in the green.

Piramal Capital completed its reverse merger of DHFL and PEL(+4.9%) showed  bullishness over the whole day.

Most IT stocks from Nifty IT closed in the green; can be seen as a pre-result rally for the index. OFSS(+2.4%), Mphasis(+2%) and TechM(+2%) closed with most gains.

Sugar stocks BalramChini(+7.2%), Dalmia Sugar(+8.5%), Shree Renuka(+5-UC), Dhampur Sugar(+5%-UC),EidParry(+1.7%), Triveni Engineering(+7.4%) rallied in the day.

Bajaj Twins – Bajaj Finance(+2.2%) and Bajaj Finserv(+3.6%) closed in the green 

Tata Motors(+2.6%) closed in the green after unveiling their new micro-SUV called Punch, the stock’s highest level since early July. M&M(+1.5%) hit its highest level since May 28th.

Hotel stocks and theatre stocks closed in the green with more relaxations coming and services industry re-opening. Indian Hotel(+2%), EIHotel(+1.9%), Chalet Hotel(+3.9%). PVR(+2.9%) and Inox(+5.8%) closed with gains.

Airtel(+0.8%) and Ericsson are expected to do a joint briefing tomorrow. Market participants expect it to be about the 5G trial.

UPL(+1.3%) has been threatened with a criminal probe after the South African pollution scandal. Stock closed among the top-losers of Nifty. The company also said that the China shutdown would impact agrochemical and raw material prices.

Paras defence(+5%-UC) continued to be at upper circuit after listing

Indus Tower(-3.4%) moved down after news that Private Equity firm KKR is planning to sell the entire 4.85% stake in the company.

Power outages in China are expected to impact chemical output & it led to a sharp rise in prices of basic chemicals in India. Toluene price went up 3%, Phenol 7%, Methanol 29%, Acetone 6% in the last 2 wks. Cos with exposure are RIL(+1.2%), Deepak Nitrite(+8.8%), GNFC(+5.5%), Deepak Fert(+1%) and others moved up.

Markets Ahead

Nifty closed in the green today after many days of fall. The 17,500 support was not tested and bulls took up the index today.

After the power sector rally, the next rally is now being seen in commodities with high production in China. Because of the power shortage, production in China will decrease and prices will move up. Metals and chemical stocks are now moving up, you can watch for similar moves in other sectors linked to China.

Pharma and IT stocks are silently moving up, with just Cipla being the exception today. We had also talked about Adani stocks last week and they are slowly moving up. Today, Adani Ports(+1.2%), Adani Ent(+4.6%), Adani Trans(+3.6%), Adani Power(+5%), Adani Green(+2.1%) moved up.

Keep a watch on metal and pharma stocks. Also IT stocks may bounce from their current supports ahead of Q2 results being published. 

Let us know in the comments section of the marketfeed app which sectors again will benefit from the China power shortage issue!

Today’s Market Summarised

Another day of gap-down opening in the market but the market consolidates and prevents further falls.

Nifty opened with a gap-down at 17,537 and started falling. Support was taken at only 15,450 and the index continued to trade in a wide 100 point zone. Near closing, the index tried to give a breakout but failed to sustain. Nifty closed the day at 17,532, down 86 points or 0.49%.

Bank Nifty opened the day at 37,183 with a gap-down and fell nearly 300 points from there. The index bounced from here and continued to trade the rest of the day with 37,000 and 37,080 as supports. With some last-minute bullishness, Bank Nifty closed the day at 37,225, down 199 points or 0.53%.

Only Nifty Realty(-1.51%) gave a more than 1% move to either side. All other indices closed with consolidation.

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

News Picks

The Auto index closed with consolidation in the day with auto sales data being published. M&M was the top-gainer of Nifty 50 while Maruti was among the top-losers. Mahindra also started taking bookings for its XUV 700 SUV from yesterday.

The Bajaj Twins closed in the top-losers list after cooling down from yesterday’s rally. Bajaj Finserv and Bajaj Finance closed in the red.

Asian Paints and other paint stocks continued its bearish rally with crude oil prices rallying. Crude is an important raw material in the production of paint.

Energy stocks stayed in the green on the bearish day with Coal India, IOC, ONGC and PowerGrid closing in Nifty’s top-gainers. Tata Power and GAIL also closed in the green. GUJGAS, OIL, IEX and some other stocks closed in the red.

Pharma stocks saw silent buying once again with Dr Reddy and SunPharma closing among Nifty gainers. 

With gold prices jumping yesterday, gold-backed lenders Manappuram and Muthoot Finance closed in the green.

SSWL closed in the 5% Upper Circuit after crossing Rs 300+ core sales for the third consecutive month.

Paras Defence listed at Rs 469 vs issue price of Rs 175/share but straightaway hit upper circuit. The stock closed at Rs 492, up 181% from its IPO price.

APL Apollo Tubes closed nearly 3% up after reporting Q2 sales volume of 4.27 lakh tonnes, up by 15% compared to last year and down by 11% against last year’s sales.

VST Tillers closed at 10% Upper Circuit after entering into an agreement with Zimeno, USA to develop an integrated tractor powertrain for an electric tractor of Zimeno.

Cummins India fell 7.4% after the Union Power Ministry urged diesel generating (DG) set users to shift to renewable energy in five years.

Metal stocks saw some momentum buildup in the day, might see more bullishness in the coming days.

Eight new stocks have been made available for trading in the Futures & Options (F&O) segment from October 1. This includes Abbott India Ltd, Crompton Greaves Consumer Electricals Ltd, Dalmia Bharat Ltd, Delta Corp Limited, The India Cements Ltd, JK Cement Ltd, Oberoi Realty Ltd, and Persistent Systems Ltd.

Markets Ahead

Nifty closed in the red today but saw consolidation after its gap-down opening. It was interesting to see the index holding above its immediate support of 17,500 by the closing time. Bank Nifty also managed to closed above 37,000 zone with some power near the closing time.

Keeping aside the auto sector and some stock-specific volatility, the indices closed with consolidation after the gap-down. We can keep watching the international markets for cues. Last week it was the Evergrande issue causing concerns and this week it is the energy crisis in China.

But as you can see, with the excess of money flowing into the market, certain stocks and sectors continue to move up and the correction is not strong. If a huge fall comes, we can expect weak hands in the market to exit and a continuation of the bearish correction phase. But if it is many days of small red candles, we can consider it just as consolidation.

Keep a watch on metal and pharma stocks. Also, IT stocks may bounce from their current supports ahead of Q2 results being published. 

The week has closed as one of the worst for Nifty in the last 5 months. How did it go for you? Let us know in the comments section of the marketfeed app!

Today’s Market Summarised

An eventful monthly expiry with the bulls being overpowered by the bears today. The 3 days of fall in Nifty has been the longest in the last 3-months of the bull rally.

Nifty opened flat at 17,727 and consolidated for a long time moving between 80 points. After the European market opened Nifty fell suddenly, and kept on moving down till the end of the day. Afternoon, the index kept falling in a channel. Nifty closed the day at 17,618, down 93 points or 0.53%.

Bank Nifty opened the day at 37,761 and suddenly fell nearly 200 points. From here, it bounced back near 37,800 and consolidated there till noon. The index tried to break 37,800, but 37,900 acted as a strong resistance. Then Bank Nifty fell more than 500 points from the day high and fell below the 37,500 support. With a fall near closing time, Bank Nifty closed the day at 37,425, down 318 points or 0.84%.

Only Nifty Realty(+1.4%) and Nifty PSU Bank(+0.8%) closed just in the green. All other indices closed with consolidation.

Asian markets closed mixed in the day. European markets are also mixed in the day.

News Picks

Bajaj Twins continued to consistently close in the green when Nifty closes in the red. Bajaj Finance and Bajaj Finserv moved 2% up and closed as Nifty 50’s top-gainers.

Power stocks closed mixed in the day. PowerGrid(-2.6%) closed as Nifty’s top-loser in the day. REC Limited(-2.7%), Torrent Power(-2.2%) also closed in the red. Meanwhile, Tata Power(+4.7%), IGL(+2.7%) and Guj Gas(+1.9%) closed in the green. 

China’s thermal coal inventory is nearing record lows due to the power crisis.

Bharti Airtel(-0.84%) and Indus Towers(-2.9%) fell after UBS downgraded the stocks. Meanwhile, Vodafone Idea(+5.7%) closed in the green.

Alcohol stocks UBL(+0.9%) and McDowell-N(+3.1%) closed with gains in the day, continuing their breakouts.

Banks also closed mixed in the day with Midcaps Federal Bank(+3.6%), RBL Bank(+1.4%), PNB(+1.1%) and AU Bank(+0.46%) closing in the green. Large Cap banks Axis Bank(-2%), SBI(-1.5%) and Kotak Bank(-1.2%) closed in the red.

Indian Overseas Bank(+11.2%) opened with a gap-up after RBI lifted curbs and put it out of the Prompt Corrective Action framework. 

JMC Projects(+12.3%) wins its biggest order worth Rs 1879 crores and share prices jumped towards the end.

Markets Ahead

A truly volatile monthly expiry for Nifty in the day. After breaking the crucial support of 17,750 on Tuesday, the index has been weak and on its downward spiral. Still, the support at Tuesday’s low was respected today.

Bank Nifty closed with a red candle taking support at yesterday’s low. There is continued resistance at the 38,200 level and largecaps are showing signs of exhaustion after their rallies. Axis Bank and ICICI Bank saw good selling pressure in the day.

You can watch gas stocks in the upcoming days. Gas prices have been expected to increase by 60-70% from tomorrow, and we saw slight movements in many stocks today. This momentum could continue. 

Adani stocks are also continuing to trade in important consolidation zones, after trying and failing to breakout in the morning. See if you can catch some good moves in the coming day.

How did the Thursday trades go for you? Also, how have your September month trades gone? Mine started off slow but ended at a high! Let us know in the comments section of the marketfeed app!

Today’s Market Summarised

Nifty regains after a gap-down opening in the day.

Nifty opened at 17,658 with a gap-down and fell slightly. The index traded in an 80 point zone for nearly 4 hours. With a breakout across all indices, Nifty moved up but could not sustain the rally. With a fall near the end, Nifty closed day at 17,711, down 37 points or 0.21%.

Bank Nifty opened the day at 37,642 and crashed down nearly 280 points. From here, the index bounced back to test 37,900 near 3 PM.  With a fall near closing time, Bank Nifty closed the day at 37,743, down 202 points or 0.53%.

Only Nifty PSU Bank(+2.7%), Nifty Metal(+2.3%), Nifty Pharma(+1.6%) and Nifty Realty(+1.1%) closed in the green. Most other indices closed with consolidation.

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

News Picks

Energy stocks once again rocked in the day continuing yesterday’s bullishness. NTPC(+6.6%), Coal India(+6.4%), PowerGrid(+6%), IOC(+3.6%) and ONGC(+1.7%) closed among Nifty 50’s top-gainers.

There is news that China is considering raising electricity rates for industrial customers in order to combat supply shortages. 52-week highs were hit by multiple power companies including Coal India(+6.3%), Tata Power(+8.2%), NTPC(+6.5%), Power Grid(+6%), PFC(+0.8%), OIL(+9%) and Torrent Power(+2.6%).

Money continued to flow into the pharma sector with SunPharma(+4.6%) closing in the top-gainers. Cipla(+1.7%) and Dr Reddy(+1%) also closed in the green.

Metal stocks closed with strength in the day. Hindalco(+3.3%) and JSW Steel(+2.8%) closed with strength in Nifty 50. National Aluminium(+6%), Jindal Steel(+5.8%), SAIL(+3.6%) and MOIL(+2.5%) also showed bullishness. 

SAIL(+3.6%) and NBCC(+2.6%) moved up with news of privatisation by the government.

PSU Banks closed in the green with the Piramal Group completing DHFL takeover. SBI(+3.3%), Bank of India(+3.8%) are the top beneficiaries from this deal and will receive Rs 7,267 crores and Rs 4,125 crore respectively. Union Bank of India(+4%) also moved up.

BLS International(+2.8%) wins a contract for Italy visa processing services in Russia.

Financial stocks closed among the top-losers of Nifty 50. HDFC(-2%), HDFC Bank(-1.3%) and ICICI Bank(-1%) closed in the red.

HDFC AMC(-5.5%) fell after Standard Life sold shares in a block deal at opening time. Max Health(-3.9%) also saw a gap-down opening with a block deal.

Info Edge(-4.6%), Metropolis(-3.2%), Godrej Cons(-2.9%), IRCTC(-2.4%), BEL(-2.4%) are top midcap losers.

Markets Ahead

As we discussed yesterday, energy stocks have been continuing their rally. IEX also gained to reach all-time highs. Click here to learn more about IEX. We can expect a similar bullishness in Reliance and Adani stocks soon.

Today’s rally in Bank Nifty was mostly sponsored by SBI with the news discussed above. No other stock contributed to the index significantly in the generally bearish day.

The levels of 17,500 and 17,800 were not tested in the day. We can expect a move tomorrow if these levels are broken, otherwise, it will just be consolidation with volatility. 

Tomorrow is the monthly expiry, so we can expect high movements in the indices including Bank Nifty. Nifty IT gained sharply towards the end with power in Infosys and TCS after their morning fall. This bullishness could be continued tomorrow.

Looking at how the European markets are performing now, and with Dow Jones Futures in the green, we can expect a gap-up opening tomorrow in Nifty. Keep a watch out for Kotak Bank, Reliance and IT stocks.

What do you think? Will the slow correction continue? Or are we just seeing consolidation near the top? Let us know how your day went in the comments section of the marketfeed app!

Today’s Market Summarised

A day of a heavy fall in the market and an almost V-shaped recovery towards the end.

Nifty opened at 17,900 and was immediately bearish. Just around 11 AM, the index started testing its 17,800 support zone. Once this was broken, a free fall of nearly 230 points took Nifty to its day-low just 1 hour before market close. But in the last hour of trading, heavy institutional buying was seen and Nifty closed the day at 17,748, down 106 points or 0.60%.

Bank Nifty opened the day at 38,362 and moved down. In two hours after opening, the index of banks was testing its support at 38k. Once 37,800 was also broken, there was a heavy sell-off which pulled Bank Nifty down another 500 points. A last-hour buying gave strength and Bank Nifty recovered to close the day at 37,945, down 226 points or 0.59%.

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

News Picks

Energy stocks once again ruled the top-gainers chart in Nifty 50. PowerGrid(+4.5%), Coal India(+4.5%), IOC(+3.6%), NTPC(+4%), IOC(+3.6%), BPCL(+2.1%) and ONGC(+1.5%) closed well in the green. Energy shortages around the world and the upcoming winter season have caused energy prices to increase globally as we have been discussing in the Top International News article.

BPCL(+2.1%) to set up 1,000 EV charging stations.

The global energy shortage along with rising costs will create a dream bull run for the energy sector in the Indian market for the next 10 years. Companies will be incentivized to expand and meet demand. Add the best to your portfolio!

Power Finance Corporation(+5.4%), Rural Electrification Corp(+5%), Hindustan Petroleum(+5%), GAIL(+3.2%) were among some other stocks which shot up.

Kotak Bank(+1.7%) kept the Bank Nifty stable by hitting a fresh 52-week high towards closing. PNB(+2%) also closed in the green. Last day, Finance Minister Nirmala Sitharaman had said that India needs four or five more banks like SBI.

All Nifty IT stocks closed in the red with TechM(-3.4%), Wipro(-2.1%), HCL Tech(-2%) and Infosys(-1.9%) closed in the top-losers of Nifty 50.

Telecom shares saw profit booking with Bharti Airtel(-3.6%) closing lowest in Nifty. Vodafone Idea(-3.5%) also closed in the red. Reliance(+0.9%) was confused between a fall in telecom shares and a jump in energy stocks after hitting a fresh 52-week high.

IndiGo(-2.8%) fell after a downgrade of the stock by Goldman Sachs. Fellow airline SpiceJet(-1.6%) also closed in the red.

BHEL(+5.9%) bagged an order from Goa Shipyard for a warship gun mount. Bharat Electronics Ltd(+3.1%) also jumped up.

Pharma stocks heavy buying towards the day closing as smart money looked to invest their money in underperforming sectors. 

JSW STEEL(+1.8%) to consider Q2 results on October 21. The stock closed in the green along with other steel stocks Jindal Steel(+1%), SAIL(+1%) and Tata Steel(+0.8%).

Markets Ahead

Today was the day of public sector companies with Nifty CPSE up 3%. CPSE stands for Central Public Sector Enterprises and includes the companies which featured in Nifty’s top-gainers.

The global energy shortage and the price increase is a current phenomenon that we have been discussing for many months. It is now getting tighter with stricter emission norms and increase in global demand leading up to the cold months. As I discussed above, governments will be helping these companies to expand as demand for a necessity like energy will only keep on increasing.

Reliance can be a good diversified investment into both new-age tech with Jio, Retail and in Energy business for the next 5-10 years. Will be increasing exposure to my long-term portfolio.

Anyway, a swift fall in the market after 17,800 was broken. Almost all market participants including us were expecting a fall if this level was broken, and that is exactly what we got. European indices and U.S. Futures are still in the red, indicating there is still a profit booking sentiment globally. We can watch for 17,500 as support and 17,800 as resistance tomorrow.

Did you get trapped in the intraday volatility? Or could you make some money out of it? Let us know how your day went in the comments section of the marketfeed app!

Today’s Market Summarised

Nifty closes flat even as Bank Nifty gives another breakout.

Nifty opened at 17,933 and took resistance at the all-time high. After this, the index fell more than 140 points in just 2 hours. Support was taken at 17,800 and the index bounced 100 points. Nifty closed the day at 17,855, up 2 points or 0.01%.

Bank Nifty opened the day at 37,979 with a gap-up and jumped more than 250 points in 10 minutes. The index touched a fresh all-time high of 38,350. Consolidation was seen all through the afternoon, and Bank Nifty closed the day at 38,171, up 341 points or 0.90%.

Nifty Realty(+2.99%) and Nifty Auto(+3.22%) gave a breakout in the day along with Nifty Media(+1.63%). Nifty IT(-2.88%) saw profit booking.

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

News Picks

Auto stocks gave a breakout in the day with Maruti(+6.4%), Tata Motors(+4.3%), M&M(+4%), HeroMotoCo(+2.8%) and Bajaj Auto(+2.7%) closing in Nifty 50’s top-gainers.

ONGC(+2.8%), BPCL(+1.4%), Reliance(+1.6%) featured in the top-gainers of Nifty 50 with Crude oil prices continuing their breakout in the international market.

OIL, IOC, and HindPetro closed more than 1% up with bullishness.

IT stocks saw profit booking in the day with HCLTech(-4.6%), TechM(-3.3%), Wipro(-3.3%) and Infosys(-2.4%) closing in the top-losers.

Other stocks from the tech sector MindTree(-5.5%), CoForge(-4.4%), LTI(-4%) and Mphasis(-3.7%) also saw profit booking. 

Pharma and related companies also saw profit booking with Divislab(-3.4%), CadilaHC(-1.1%), SunPharma(-0.96%) and Apollo Hospital(-3.5%) closing in the red.

Patel Engineering(+8.1%) wins new order worth Rs 1,251 crores for Teesta-VI hydroelectric project.

Hotel stocks and economic re-opening related stocks moved up in the day. Hotel stocks Indian Hotels(+5.9%), EI Hotels(+12%), EIHA HOTELS(+19.6%), Mahindra Resorts(+3.2%), Chalet(+10.5%) and LemonTree(+6.9%) gained in the day. EaseMyTrip(+3.5%) and IRCTC(+3.9%) shares also gained.

PVR(+5.7%) and Inox Leisure(+8.2%) closed with gains after opening at their upper circuits.

InterGlobe Technology and EaseMyTrip(+3.5%) announced an agreement worth Rs 75 crores.

With news of NSE IPO, shares of BSE(+7.3%) jumped. CDSL hit 5% upper circuit.

Markets Ahead

Shares of Reliance have hit all-time highs and closed above the Rs 2,500 mark for the first time ever. Earlier this month, we had talked about how TCS was catching up to Reliance in market-cap but now the gap is more apparent.

Auto stocks break out was long-awaited in the market, and might keep giving good moves to all-time highs if the general market sustains. Tata Motors DVR has moved 28% and Tata Motors 16% thus far in September.

Soda Ash Futures have hit a fresh-high, jumping more than 8%. Keep a watch on chemical companies.

Our immediate levels of 17,950 as immediate resistance and 17,800 as the immediate support for Nifty were both respected in the day.

Hope you had a great Monday. This week being the monthly expiry, we can expect some volatility in the coming days. Bank Nifty giving a breakout and sustaining near 38,200 gives some confidence to the market. HDFC is also trading near its all-time highs, so keep watching for a breakout.

Hope you had a great week in the market. Have some tea and chill out, with some good charts on the side. 

Today’s Market Summarised

Market closes slightly in the green after opening with a huge gap-up.

Nifty opened at 17,902 and jumped up with power from IT stocks. The index touched an all-time high near 17,950 in the first few minutes then started showing weakness. Slowly, the index fell nearly 130 points from the day-high. After recovering, Nifty closed the day at 17,853 up 30 points or 0.17%.

Bank Nifty opened the day at 37,996 and briefly traded above the 38k mark. It failed to sustain the move, and the index fell along with most other stocks in the market. Bank Nifty closed the day at 37,830, up 58 points or 0.16%.

Nifty Realty(+1.5%) was the only index to close well in the green. Nifty Metal(-2.1%), Nifty PSU Bank(-1.8%) and Nifty FMCG(-1.1%) remained weak.

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

News Picks

Asian Paints(+3.8%) gave a breakout to fresh 52-week highs. It was the top-gainer in Nifty 50. 

Bharti Airtel(+1.7%) featured in the gainer’s list. Other telecom stocks – Vodafone Idea(+9%) and Indus Towers(+13.8%) also moved up. Indus Tower closed at a fresh 52-week high above 316.

Steel stocks closed with weakness as Tata Steel(-3.5%) and JSW Steel(-2.6%) closed among the top-losers. National Aluminium(-2.8%) and Jindal Steel(-3.2%) also moved down along with other metal stock.

Many chemical companies jumped today with Tata Chem(+4.4%) leading the rally. RCF(+11.2%), ChamblFert(+11.2%), GujAlkali(+9.4%) and NFL(+7.4%) and FACT(+6.9%) closed with gains in Nifty 500.

Hospital stocks saw profit booking with Apollo Hospital(-6.9%) and Narayana Hrudayalaya(-5.8%) closing in the red. Max Healthcare(-1.7%), Metropolis(-1.8%) and Dr Lal Pathlab(-3.7%) also closed in the red.

Realty stocks closed mixed with Oberoi Realty(+10%), DLF(+2.1%) and Phoenix Ltd(+2.3%) closing with gains. Meanwhile, Hemisphere Properties(-4%), IBReal Estate(-2.2%) and Sobha(-1.4%) fell.

IRCON(+2.8%) closed in the green after getting order worth Rs 224 crores to set up 500 MW solar power plant

Markets Ahead

There is a slight sense of profit booking in global markets. Interestingly, only Indian market is now at its 52-week high, while others are still 1-3% down from this level.

Today, Bank of America said that its Global Equity Funds saw the first outflow in 2021, which was also the largest outflow since March 2020. 

BofA Weekly Note also talked about the Biggest Outflow From U.S. Equity Funds Since Feb 2018, and Largest Outflows From European Equity Funds In 2021. This is not a random event as it is being seen worldwide. Keep in mind that a correction could be possible.

Mostly a consolidating day with the Midcap index closing in the red. I feel that this could be an indication of a small correction in the market. European markets are in the red, and Bitcoin has also moved down 3-4% with crackdowns in China. Crude oil is still in the green.

Interestingly, even when the markets have fallen after rallying there are always investors who seem to be confident in buying the dip. Make sure your portfolio of long-term picks are fundamentally strong and this could help you outlast corrections. 

Reliance failed to stay above 2,500 after opening at its fresh 52-week high. But HDFC Bank held up Nifty by contributing more than 30 points.

Keeping a watch of 17,950 as immediate resistance and 17,800 as the immediate support for Nifty.

Hope you had a great week in the market. Make sure to check out some stocks for studies during the weekend and also to find some time to chill out!

Today’s Market Summarised

Nifty gives another breakout tracking global positivity.

Nifty opened at 17,675 with a more than 130-point gap-up. This was just the beginning and the market kept moving up and up from here. After breaking 17,740, the index kept going up and hit an all-time high of 17,844. Nifty closed the day at 17,822, up 276 points or 1.57%.

Bank Nifty opened the day at 37,272 and moved up like Nifty. It turned bullish after crossing 37,500 but could not break out above the 37,800 mark. With consolidation near the end, Bank Nifty closed the day at 37,771, up 827 points or 2.24%.

The high volatile rally in Nifty Realty(+8.6%) continued today. Nifty Bank(+2.2%) and Fin Nifty(+2.2%) moved well in the day. Nifty Metal(+1.6%) also moved up.

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

News Picks

After the Fed Open Market Committee meeting yesterday, markets in the U.S. moved up well. Asian and Indian markets tracked this to close in the green.

Bajaj Finance(+1.3%) and Bajaj Finserv(+5%) continued their rally to fresh all-time highs. We had discussed exactly two months ago how these stocks have to be added to your portfolio.

Tata Motors(+3.6%) closed among the top-gainers of Nifty 50 after increasing commercial vehicle prices and unveiling the release date of Micro-SUV called Punch. The Tata Motors DVR(+7.4%) shares are now at a 52-week high with heavy buying.

With global aluminium prices doing better than iron and steel, Hindalco(+4.3%) continued its breakout. Analysts also recommended higher target prices for the stock. Also today, L&T(+3.4%) announced the completion of Hindalco’s refinery expansion, taking alumina production capacity from 1.5 MTPA to 2 MTPA.

Nifty Realty index moved heavily with power from DLF(+8.8%), Godrej Properties(+12.7%), Oberoi Realty(+12.8%), Sobha(+7.9%) and more. All stocks in the index gained between 3-12% today. DLF reclaimed Rs 1 lakh crore market cap after 2008.

Telecom data for July is out. Jio added 65 lakh mobile users in July. Bharti Airtel added net 19 lakh mobile users in July. Vodafone Idea(+1.4%) lost net 14 lakh mobile users in July. Shares of Reliance(+2.4%) hit fresh all-time high while Idea and Airtel closed slightly in the green.

JBM Auto(+12.2%) bagged a huge order to supply 500 CNG and electric buses.

LIC Housing Finance(+2.3%) has extended its lowest home loan rate of 6.66% for home loans up to Rs 2 crore.

United Spirits moves 7% up with the stock seeing a multi-year breakout. Keep watching the stock.

ZEEL closed 5% in the red after being more than 7% up in the morning.

Markets Ahead

After yesterday’s bullish close in the U.S. markets, Nifty no longer found a reason to remain weak. A fresh all-time high was created, just 150 points away from the mark of 18,000. We can all agree that the 1,800 points gain in the last 35 trading days have been nothing short of crazy.

With the largecaps continuing their move, midcaps are also slowly seeing its strength come back. Realty and Media have been shooting up this last month with power in major stocks like DLF and ZEEL.

With the rally in Reliance, we can expect its subsidiaries to also see investor interest soon.

Keep entering positions but do remember to keep intelligent stop-losses now that the market is at an all-time high. The Evergrande issue seems to have found a temporary solution. Read all about the situation here.

The Realty index showing such moves even when a Global Property Developer went to bankruptcy is very interesting. This shows that there is probably high interest of institutions continuing in these stocks. Keep watching them.

Yesterday, we discussed here that will be eagerly watching support and resistance levels and got a clean breakout at the 37,500 level for Bank Nifty. Were you able to catch the move? Let us know in the comments of the marketfeed app!

Today’s Market Summarised

Markets see sharp consolidation in the day, with Nifty closing flat.
Nifty opened at 17,586 and moved down slightly. In general, the market moved sideways trading in a less than 90 point zone. After consolidation, Nifty closed the day at 17,546, down 15 points or 0.09%.

Bank Nifty opened the day with 37,227 and closed with a red candle in the daily charts. The index found support at 36,880 and closed near the day low. Bank Nifty closed the day at 36,944, down 290 points or 0.78%.

Nifty Media(+13.57%) shot up in the day once again with ZEEL rallying. Nifty Realty also moved up 8.45% as funds flowed into midcaps. Nifty Metal and Nifty Auto gained just over 1% each.

Asian markets closed mixed in the day. European markets are trading well in the green today.

News Picks

Stocks in the Nifty Metal index gained back with Coal India, Hindalco and JSW Steel featuring in the top-gainers.

Nifty IT hit an all time high with TechM and HCL Tech closing among the top-gainers.

Banks and financial institutions including HDFC, Kotak Bank, ICICI Bank, HDFC Bank and Axis Bank closed among the top-losers of the day.

ZEEL continued its breakout and closed 31% up in the day after merging with Sony Pictures India. SunTV also gained 4.5% along many other media stocks.

Realty stocks continued their breakout with the index hitting a 11-year high. Godrej Properties and DLF gained over 11% with IbulHsgFin and LIC Housing Finance both nearly 6% in the green each.

Hotel stocks, theatre stocks and others linked to re-opening of the economy closed in the green. PVR, Inox Leisure, IRCTC, Indian Hotels and others closed with good gains.

Markets Ahead

Nifty consolidated in the day after breaking yesterday’s high, showing that there is no real bearishness currently in the market.

But India VIX, which tracks volatility in the market did not move down.

Global markets have started recovering from their recent fall with all European markets strongly in the green. We can expect news from the FOMC Meeting tonight from the U.S. which may cause volatility tomorrow.

Pressure from the Evergrande issue has reduced with the property developer saying they will make payments on their bonds.

Eagerly watching the international markets tonight and keeping a watch on the support and resistance zones of Bank Nifty. Keep an eye on 36,500 on the lower side and 37,500 on the upper side.

Hoping you were able to catch some moves in the media and realty index today. Let us know in the comments section of the marketfeed app if you did!

Today’s Market Summarised

Markets rebound in the day with most sectoral indices gaining back from yesterday’s fall.

Nifty opened with a big gap-up at 17,427 and tried moving up. The index struggled in the morning and fell to near 17,320 even breaking yesterday’s low. Just before noon, the market regained strength and started to move up. With some volatility, Nifty rallied up and closed the day at 17,562, up 165 points or 0.97%.

Bank Nifty opened the day with 37,262 and fell sharply. The supports at 37k and 36,800 were respected but the index broke all of these levels and moved down more than 800 points intraday. But recovery was seen across the market and Bank Nifty closed the day at 37,236, up 90 points or 0.25%.

Nifty Realty, Nifty Metal and Nifty IT bounced back from yesterday’s fall. Only Nifty Auto closed in the red today.

Asian markets stayed stable and mostly in the green, except Japan which was closed yesterday. European markets are trading well in the green currently.

News Picks

JSW Steel(+5.6%), Tata Steel(+3.1%) and UPL(+2.3%), the stocks which fell the most yesterday, closed among the top gainers today.

Oil-related stocks ONGC(+5.2%) and OIL(+7%) closed sharply in the green today. Crude oil has been on a rally internationally, and stocks related to it have been on a rally.

Bajaj Finance(+5%) and Bajaj Finserv(+3.3%) closed among the top-gainers after staying flat in yesterday’s fall.

ITC(+3.3%) continued its breakout by gaining to reach Rs 242 in the day. The stock is at its highest level since January 2020.

Auto stocks closed in the top-losers section with chip shortage continuing to be an issue for them. Maruti(-2.4%), Bajaj-Auto(-1.2%) and Hero MotoCorp(-1.3%) closed in the top losers of Nifty. Tata Motors(+1%) however moved up after saying it will increase the prices of its commercial vehicles from October 1.

SpiceJet(+1.5%) to raise up to Rs 2,500 crores by allotting equity to institutional investors. Indigo(+3%) also went up in the last hour of trade.

ITDC(+3%) to raise Rs 7,000 crores from Ashoka Hotel monetization. Hotel stocks generally closed in the green once again with Indian Hotels(+2%), EI Hotels(+1.1%), Chalet(+2.5%) and more moved up.

Godrej Industries(+4.7%) approved the issue of NCDs worth Rs 750 crores.

Four entities have shown interest to purchase a controlling stake in state-run IDBI Bank(+5.9%).

PVR(+5.9%), Mindtree(+5.5%), SAIL(+5.1%), Godrej Prop(+4.7%), PEL(+4.3%) and Can Fin Homes(+4.3%) closed among Midcap top gainers.

Markets Ahead

With the Asian markets staying in the green today morning, Nifty opened flat in the day. And once the European markets opened and shot up 1-1.5% to the green it was confirmation that our market will bounce back.

India VIX has calmed down and fell 6% today. Looks like the temporary volatility is now reduced.

Dow Jones Futures are also in the green. If the markets there also recover, we can expect our markets to do well tomorrow.

Hoping that no one got trapped in the intraday movements of the market. Even with the V-shaped recovery in Nifty, the candles being formed were very volatile.

Bank Nifty closing above 37,200 and Nifty at Friday’s closing level is some confirmation that the market has not yet turned bearish. But is it still a candle showing indecision for Bank Nifty. Keep watching the 36,500 support level in the Bank Nifty index along with 17,200 as support for Nifty.

Tomorrow’s Fed Meeting highlights are also being watched by market participants eagerly. If decisions remain along the same line as current policies, markets might jump a bit back up. 

Is it just a bounce-back before another fall? Or is it showing that bears don’t have enough strength yet? Let us know what you think in the comments section of the marketfeed app!

Today’s Market Summarised

Beginning of the fall for Nifty with morning power and an afternoon fall.

Nifty opened with a big gap-down at 17,451 and went up. After the gap-down was covered, the index found resistance at 17,620 and then a sharp fall was seen. NIFTY dropped more than 230 points from the day-high and closed near the day-low at 17,396, down by 188 points or 1.07%.

Bank Nifty opened the day with 37,362 with a gap-down and bounced up like Nifty. After finding perfect resistance at 37,800, the index fell more than 700 points by day closing. Bank Nifty closed the day at 37,145, down 666 points or 1.76%, right near crucial supports.

Nifty Metal(-6.6%) and Nifty PSU Bank(-4.1%) saw sharp sell-offs today. All sectoral indices except Nifty FMCG(+0.91%) closed in the red, with Realty(-2.1%) and Pharma(-1.8%) both closing over 2% down.

Asian markets which were open today closed in the red. European markets are trading well in the red currently.

News Picks

FMCG stocks featured in the top-gainers of Nifty 50 with small gains. Hindustan Unilever(+2.8%), ITC(+1.1%), Nestle(+0.73%) and Britannia(+0.81%) were among the only 7 gainers of Nifty. Marico(+1.3%) also closed with gains.

GMR Infra(+7.9%), PVR(+2.2%), Inox Leisure(+2.3%), Tata Elxsi(+6.2%) and ICICI Lombard(+1.5%) closed with significant gains in a bearish day.

Tata Steel(-9.5%), JSW Steel(-7.2%) and Hindalco(-6%) crashed sharply after GST Council approved increasing taxes from 5% to 18% on metals. Jindal Steel(-9.1%), National Aluminium(-8.9%), SAIL(-8.1%), NMDC(-7.7%) and many others also fell heavily in the day.

Hotel stocks closed with good gains in the day with hopes of economic re-opening. IndianHotel(+8%), EIH Limited(+3.1%), EIHAHOTELS(+6.2%), Chalet Hotels(+1.9%) closed in the green.

India VIX, or the Volatility Index jumped 15% to 17.49. Learn more about India VIX Here.

Markets Ahead

Nifty has now started the week with real bearishness, failing to sustain the morning gains. Many issues cloud the market gains.

The outcome of the Federal Open Market Committee (FOMC) meeting, which is scheduled on September 21-22 will be a critical factor going ahead.

The Evergrande issue which we discussed yesterday, with debts similar to the 2008 financial collapse caused a sharp fall in Asian markets. Profit booking from all-time highs is also being seen.

GST Council meet caused stock-specific movements in the metal industry as we discussed on Friday. India VIX rising to 3-month highs will also have to be watched.

Currently, the Dow Jones Futures are also trading 1-1.5% in the red. Markets in India may show a small bounce back tomorrow if the U.S. stays steady tonight.

The current bullish momentum in Bank Nifty has temporarily been paused. Still, the levels of 37,000 and 36,500 will act as supports for the index. Only below this can we can say that the index has become bearish.

Did you take a trade in today’s market? How did it go?  Let us know in the comments section of the marketfeed app!