Tag: Reliance share

Today’s Market Summarised

Markets around the world seeing a sell-off in the day.

Nifty opened the day flat at 15,867 and could not break yesterday’s high. In fact, even before touching those levels, the selling started. And once 15,800 was broken, there was no looking back. With high weakness, the index fell even till 15,680 but managed to recover near the end. Nifty closed the day at 15,728, down 152 points or 0.96%.

Bank Nifty opened at 35,675 and tried to break the week’s high. After trading above the opening level for more than 2 hours, Bank Nifty saw huge weakness. 35,500 was also broken and the index saw good selling and went down till 35,135. Bank Nifty closed the day at 35,274, down 497 points or 1.4%.

Nifty Metal(-2.19%) closed with losses followed by Bank Nifty(-1.4%), Nifty Finserv(-1.22%) and Nifty Media(-1.18%).

Asian markets all closed in the red. European markets are all trading well in the red now.

News Picks

Markets around the world are in a selling mode, with pressure from the sharply falling U.S 10-year bond yields. Markets do not like volatile bond yields.

Tata Motors(-3.4%) fell again after a gap-down, and closed as Nifty’s top-loser. Yesterday’s updates from the management are yet to give the stock confidence.

Metal stocks fell after yesterday’s rally. Yesterday’s top gainers JSWSteel(-3.2%), Hindalco(-2.6%), Tata Steel(-2.3%) closed as top-losers. SAIL(-4%) and JindalSteel(-3.4%) also fell.

With crude oil prices falling following the OPEC+ fight between UAE and Saudi, ONGC fell 2.4% in the day.

Hindpetro closed 7.3% down after as today was the ex-date for the dividend.

India’s Oil Secretary said ethanol blending is at 9.2%, improved well from last year. Expecting to cross 10% next year and 20% by 2023. Keep watching sugar stocks! 

IGL(+3.1%) closed with gains after CNG prices in the Delhi area was increased.

SpiceJet closed 4.4% up after announcing 42 new domestic, international flights.

Valuation of Zomato to be about Rs 64,000 crores. Another update from Zomato, to launch its own grocery delivery platform soon. Info Edge closed flat. 

Food-related stocks including Westlife Development(+5.2%), Burger King(+3.7%) and Barbeque Nation(+1.3%) closed with gains in the day. 

Sobha(+6%) continued bullishness and closed with gains with other realty stocks Brigade(+3.75%), OberoiRealty(+1.5%), Sunteck(+1.2%) also closing with gains. But bigger stocks including DLF(-2.3%) and Godrej Properties(-1.85%) fell.

Coforge(+5.17%) was among the top midcap gainers with the stock rising to a record high from Nifty IT.

Markets Ahead

With the continuing fall and fall, it was surprising to see Nifty erasing this week’s gains. The resistances expected at 15,915 for Nifty and 35,800 for Bank Nifty will remain as resistances for another day.

With the European markets opening more than 1% down and continuing their fall and Dow Jones Futures looking weak, Nifty also saw a reaction.

Nifty broke 15,800 support and Bank Nifty even took out the 35,500 support zone. More importantly, Reliance breaking 2,100 was also a bearish indication.

June’s Mutual Fund data once again showed Net Equity Inflows at Rs 4,608.7 crores vs 9,235 crores in May (MoM). This is the reason for continuing buying by DIIs in the market.

Well anyway, this is the weekly expiry! India VIX also jumped more than 10% in the day so was an interesting expiry overall.

TCS Q2 results are coming out today. Will be watching how it goes.

Hope you had a great Thursday in the market. How did it go for you? Were you able to capitalise on today’s fall? Let us know in the comments of the marketfeed app!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty’s bulls showing their strength in the day lead by financials and metals.

Nifty opened the day flat at 15,823 and was very volatile. It consolidated in a 60-point zone for most of the day. In the afternoon, the index crossed 15,850 and moved up. Nifty ended the day at a high with 15,879, up 62 points or 0.39%.

Bank Nifty opened at 35,553 and was given some power by HDFC Bank. Slowly over the day, it went up to once again touch the resistance at 35,800 but could not cross it. Bank Nifty closed the day at 35,771, up 192 points or 0.54%.

Nifty Metal(+2.2%) and Nifty Realty(+1.95%) showed strength in the day with all other indices mostly consolidating.

Asian markets closed mostly in the red. But, European markets are all trading slightly in the green now.

News Picks

With brokerages once again turning bullish on metal stocks and good results once again expected for Q2, 3 out of top 5 gainers in Nifty 50 were from the sector. Tata Steel(+4.4%), JSW Steel(+2.56%) and Hindalco(+2.15%) closed with gains.

Other metal stocks including Nationalum(+6.1%), SAIL(+4%) and JindalSteel(2.5%) also gained sharply.

Jindal Steel also reported 20% YoY increase in Q1 Steel Production to 2.01million tonnes, with sales increasing by 3% to 1.61 million tonnes(YoY) out of which 34% was exported.

Also, China completed the release of 1,00,000 tonnes of Copper, Aluminium and Zinc from state reserves in an auction and saw high demand. This has shown that metals might have more way to go even with China trying to bring down prices.

Bharat Forge closed 5% up after Goldman Sachs started coverage on the stock with a target of Rs 883/share.

Sources say that the Department of Public Enterprises will be merged with the Finance Ministry. With this, almost 36 companies including BHEL will come under the ministry. BHEL closed 5% up.

ISGEC Heavy JV bagged orders for critical reactors for the US. The stock closed 1.8% up.

Bajaj Consumer Care: Goldman Sachs India raises its stake by 1.04% in Q1. The stock closed 1.5% up. 

Tata Motors will have an investor call at 5:30 pm today, discussing Q1 details. The stock recovered 3.5% from the day low and closed flat.

Paper stocks PudumJee Paper and Emami Paper, Malu Paper, Genus Paper closed in the 20% Upper Circuit. Other paper stocks JK Paper(+5%), Star Paper(+11.5%), Astron Paper(+6.9%), Orient Paper(+9.8%), Andhra Paper(+4.5%), Ruchira Paper(+10.9%), Kuantum Paper(+9.4%) and Sesha Paper(+7.4%)  traded with gains. You can read all about the industry here.

Matrimony has approved the 100% stake acquisition of  Boatman Tech, which owns wedding planners ShaadiSaga.com for Rs 11 crores. Matrimony closed 5.4% up. 

Natco Pharma moves sharply lower after Delhi HC allows interim injunction application against co. The stock closed 6.5% down.

While many others struggled, Equitas reported gross advances growth of 15% YoY and Deposits growth of 45% (YoY). Equitas SFB closed 17% up while Equitas Holding closed 20% up.

IT product distribution company REDINGTON approved a bonus issue of shares in a 1:1 ratio. The stock closed 3.43% up.

All India power demand hits an all-time high of 2 lakh MW today. This is why you should look into IEX, power distribution and transmission stocks.

Realty shares lead by Sobha(+5.3%) gained in the day. Godrej Properties(+3.3%), Brigade(+3%) and DLF(+1.4%) also closed with gains. Sobha reported a 40% growth in sales for Q1 to Rs 683 crores. Click here to read about the real estate boom in India.

Edelweiss(+10%) and MotilalOFS(+8.9%) closed with gains.

Some travel-related stocks including MHRIL(+6.9%) and Indian Hotels(+3.5%) closed with gains.

NatcoPharma fell 6.45% after Delhi HC allowed an interim injunction application against the company filed by California-based FMC Corporation on an insecticide Chlorantraniliprole.

Markets Ahead

Nifty is once again near its all-time high showing that yesterday’s fall was a one-off event. And like we discussed yesterday, I still remain bullish on Bank Nifty which once again touched 35,800 today.

Major contributions were made by Tata Steel and HDFC to Nifty today. Also, remember a JSL Hisar which we discussed more than 2 months back? Still holding on to it from gains from 180 zones and now it is at 210 ranges. 

I feel that metal stocks have once again found their strength led by Tata Steel giving a small trendline breakout.

There is a cabinet reshuffling happening with many Union Ministers including Health Minister Harsh Vardhan resigning. We will get to know the full list by 6:30 PM today.

Markets around the world are also looking into minutes from a Fed Meeting tonight, but this might pass off as a non-event.

Will be watching the all-time high of 15,915 in Nifty along with the 35,800 level for Bank Nifty. Both are really important, and if opening with a gap-up, they might act as supports.

Hope you had a great day in the market. What do you feel? Will Nifty touch a fresh all-time high tomorrow or will we have to wait? Let us know in the comments of the marketfeed app!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Volatility returning to the market with bears showing their strength.

Nifty opened the day flat at 15,821 and was bullish. It broke the 15,870 resistance by 11 AM and continued to move up. 15,910-15,915 which is the all-time high zone, acted as tough resistance. From here, there was a 110 point fall to day-low as bears took charge. Nifty closed the day at  15,818, down 16 points or 0.10%. 

Bank Nifty opened at 35,186 and made a strong green candle. Even with afternoon fall, the index had a bullish day. After 35,500 was broken, there was a smooth and slow rally to 35,800. But this was taken as resistance and a fall of more than 300 points was seen. Bank Nifty closed the day at 35,579, up 367 points or 1.04%.

Nifty Auto(-1.74%) had a really bad day along with Nifty IT(-1.04%). Bank Nifty(+1.04%) and Fin Nifty(+0.97%) were bullish as others consolidated.

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

News Picks

UltraCemCo(+3.17%) and Shree Cements(+2.9%) closed as Nifty 50’s top-gainers. Cement stocks were in strength today as analysts expect demand to increase with the economic re-opening. Prices have also been steady despite weak Q1 volumes. 

Other cement stocks including AmbujaCem(+3.3%), ACC(+2%), IndiaCem(+1.8%), JK Cement(+5.99%), Ramco Cements(+4.8%) and JK Lakshmi Cements(+8.5%) also rallied.

HDFC Bank(+2.62%) gave a breakout after many weeks of consolidation. Yesterday, the company had also reported good growth in loans and deposits for Q1. The stock is at its highest level since 31st March.

Bajaj Finance reported a 15.2% YoY jump in Assets Under Management at Rs 1.59 lakh crore. The customer base increased 17.4% YoY and 3.9% QoQ to 5.05 crores. Also reported 46 lakh new loan books compared to 18 lakhs last year. Bajaj Finance closed 2.1% up. Bajaj Holding(+2.9%) and BajajFinserv(+1.4%) also moved up. 

Tata Motors was the highlight of the day. It reported good Q1 Retail sales numbers, up 68.1% YoY to 1.24 lakh units. But concerns were raised about chip shortage and the negative free cash flow of JLR, which was earlier predicted to be positive. The stock crashed and touched 10% Lower Circuit. It closed 8.4% down.

IT stocks including TCS(-1.7%), TechM(-2.3%) and Infy(-1%) featured in the top-losers list with low growth expectations in Q1 results. The stocks have already given good moves since May.

AU Small Fin Bank closed 8% up after publishing Q1 business updates. If you look at the 1-day chart, it has also bounced from a good support channel.

Theatre stocks PVR(+4.2%) and INOX(+2.5%) moved up over unlock expectations.

DHFL solution stretches on. 63 Moons, who holds NCDs worth Rs 200 crores in DHFL asked the court to halt Piramal’s plan to takeover DHFL. The court issued notice to PEL and lenders after 63 Moons’ plea. PEL(-2.48%) closed in the red.

Goldiam International to consider buyback on July 21. The stock witnessed unusual volumes after the news and closed 8.5% up.

Biocon closed 3.6% down after CLSA’s sell call on the stock

Markets Ahead

Many factors came together to bring selling pressure in the market today. 

Nifty touched its all-time high resistance zone. Bank Nifty touched a more than 3 months high of 35,810. Along with this, Auto and Metal stocks began falling with the negative commentary from Tata Motors‘s Jaguar Land Rover wing.

If this wasn’t enough, when Nifty was trying to recover from the first fall, GST Revenue Collection data also came out. For June 2021 it stood at Rs 92,849 crores, falling below 1 lakh crore for the first time in 9 months.

With all this, there was only Bank Nifty supporting the market. HDFC Bank alone gave Nifty 37 points in a general day of fall. Interestingly, Bank Nifty is still above 35,500 level and Nifty has found support at 15,800.

As we discussed yesterday, a bullish confirmation was possible only if the all-time high of 15,900-15,915 was crossed by Nifty without a gap-up. So currently, I am neutral on the index, watching 15,750 on the lower side and 15,915 on the upper side.

Slightly bullish on Bank Nifty, but it will have to cross the 35,800 resistance zone to show some strength. Private banks are looking strong.

Hoping you had a great day in the morning rally or afternoon fall. Or did you get trapped in the volatility? Let us know in the comments section of the marketfeed app!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Markets open the week in green with most sectoral indices closing with gains.

Nifty opened the day at 15,796 with a gap-up and quickly moved ahead. The index consolidated between 15,835 and 15,800 for almost the whole day and moved slightly up near the end. Nifty closed the day at 15,834, up 112 points or 0.71%

Bank Nifty opened at 35,016 and was slightly more bullish than Nifty. Consolidation was seen near 35,100 and just afternoon, there was good strength in the index. Bank Nifty closed higher at 35,212, up 402 points or 1.16%.

Nifty Realty(+2.73%), Nifty Metal(+1.16%) closed with good gains. Banking and NBFC stocks also did well, with just Nifty IT and Nifty Pharma closing flat.

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

News Picks

With aluminium prices moving back after China tried to pull them down, stocks related to the metal moved up. Hindalco(+3.5%), National Aluminum(+3%) and Vedanta(+3.9%) moved up in the day.

Rating agency CLSA said it expects the margin for Tata Steel to improve further from the high of Q4 and it maintained a Buy rating on the stock. The stock closed 1.8% up. Other Steel stocks including JindalSteel(+1.5%) and SAIL(+1%) also closed with gains.

With SBI’s Chairman Dinesh Kumar Khara saying that the valuation of SBI(+1.9%) and it subsidiaries can be better, the stock closed in Nifty 50’s top gainers’ list.

ONGC(+2.1%) said it has earmarked Rs 30,000 crore towards capital expenditure this year. Don’t forget that crude oil prices have also been increasing.

Bank Nifty remained generally strong with many banks reporting their Q1 loans and deposit growth numbers. Out of everyone HDFC Bank(+1%) reported the best growth of loans at Rs 11.48 Lakh Crores, up 14.4% YoY and Deposits are up 13.2% YoY.  

Tata Power moved 4% up after JPMorgan’s target of Rs 150/share.

India Pesticides listed at Rs 354.70 vs issue price of Rs 296, a 19% increase. The stock failed to extend listing gains but closes higher than the issue price. The stock closed at Rs 343.15.

Heranba Industries received Environmental Clearance from the Ministry of Environment for expansion of pesticides intermediates, fungicides, herbicides and insecticides. The stock closed 5.3% up.

ICRA reaffirms the rating of Ramkrishna Forgings. The outlook was revised from stable to positive. The stock closed 4% up.

Tata Communications says its bringing a‘ Virtual Video-Assisted Referee’ solution for ‘Anywhere Refereeing’. The stock closed 2.4% up

Tejas and ITI said to get 4G services letter of Intent (LoI) from BSNL. Tejas closed in the 5% Upper Circuit, while ITI closed flat.

IEX said trades in the power market has reached 7,093 Million Units in June, a 48% YoY growth. The stock closed 2.2% up. 

NMDC(-4.2%) and Adani Ent(-1.9%) saw selling pressure in the day.

Realty stocks gained with Godrej Prop(+3.9%), IBREALEST(+5.7%), Sobha(+3%), Prestige(+1.5%),DBL(+2.4%), DLF(+3.4%), JP Infra(+4%) closing in the green.

HFCL promoter releases pledge on 91 lakh shares or 7.1% stake on July 2nd & July 3rd. The stock closed in the 20% Upper Circuit. It has moved 60% in the last two weeks. 

ITD Cementation bags order worth Rs 585 crores. The stock closed 6% up.

Vedanta expects IPO for its power arm Sterlite Power Transmission by the end of 2021. VEDL closed 4% up. 

M&M Finance approves NCD’s worth Rs 132 crores. The stock closed 1.9% up.

MCX signs a Memorandum of Understanding (MoU) with European Energy Exchange for electricity derivatives. The stock closed 1.5% up.

Godrej Consumer Products said expects higher sales growth, supported by strong volume growth and calibrated price increases. The stock closed 3.8% up.

Delta Corp said that Casinos in Goa will remain shut as the state government extended the lockdown till July 12. In Sikkim, casinos will resume as the state govt allowed reopening. The stock closed 4% up

Markets Ahead

HDFC Bank, Reliance, Infy and ICICI Bank contributed 55 points to Nifty’s 112 point rally. Midcaps and smallcaps also closed with good gains in the day.

Starting Wednesday, TCS will kick off the results season for Q2. These results are expected to be the next trigger for Nifty to move.

Nifty has managed to close above the 15,800 zones with some power. Bank Nifty has closed above 35,000 and 35,200 so both indices are showing some strength.

Once again, as we discussed on Friday, the 15,630-15,670 zone will continue as good support for Nifty this week. The all-time high of 15,900-15,915 will have to be crossed without a gap-up, to show some bullish confidence.

The power showed today by banks, realty and metal stocks show confidence in the economic re-opening of the country. Hoping this will sustain as Q2 results start coming out.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Markets end the week with a green day, with Nifty breaking a 4-day losing streak.

Nifty opened the day at 15,711 and moved down. The index even broke yesterday’s lows and kept moving down. Support was found near 15,635 and then the reversal was strong. After taking resistance at 15,700 multiple times, the index broke out after 3 PM. Nifty closed the day at 15,722, up 42 points or 0.27%.

Bank Nifty opened at 34789 and moved mostly sideways. Even though it tried to move up towards 1 PM, yesterday’s high was taken as a resistance. Bank Nifty closed slightly higher at 34,809, up 126 points or 0.36%.

Nifty Metal(-1.49%) fell the most in the day. All other sectoral indices showed net consolidation.

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

News Picks

Divi’s Lab(+1.89%) closed as Nifty 50’s top-gainer, breaking out and creating fresh all-time highs.

ICICI Bank gained 1.5% and pushed Bank Nifty up by 110 points out of its total 125 point gain today.

Metal stocks moved down with Tata Steel(-2.37%) and JSW Steel(-1.36%) featuring in the top-losers list. Other Nifty Metal stocks including SAIL(-2.05%) and JindalSteel(-1.6%) also fell.

Adani Ports(+1.04%) moved up after reporting a 83% YoY rise in cargo volumes to 25.54MT in June. Also, brokerage firm Nomura upgrade their targets for the stock.

Other Adani stocks had a bad day with Adani Ent, Trans, Green and ATGL closing nearly 5% down.

Tata stocks other than Tata Steel generally performed well in the day. Tata Chem(+6.18%), NELCO(+5.75%), Trent(4.8%), Tata Elxsi(+4.38%), Tata Invest(+2%), and Indian Hotels(+1.20%) closed with most gains.

Along with Tata Chem, other chemical companies Vinati Organics(+8.82%), IOLCP(+6.61%), Pi Industries(+3.84%), Deepak Nitrite(2.4%), and Aarti Industries(+2.21%) closed with gains.

Route Mobile(+19%) hit fresh all-time highs after acquisition of email technology biz from Sarv Webs.

Indoco(+13.4%), JBChePharm(+10.2%) and HFCL(+9%) also hit fresh 52-week highs. Happiest Minds also closed 4.7% up.

With the mutual funds industry growing, CAMS(+3.18%) and BSE(+7%) also a lot of buying in the day.

Markets Ahead

Reliance and ICICI Bank supported and lead the market to a green close after 4 days of fall.

Nifty Pharma gained 3.27% this week while Nifty Metal fell 1.8% followed by Nifty Bank falling 1.57%.

Interestingly, in a week where Nifty closed 0.87% in the red, Nifty Smallcap 100 has gained more than 2%. 

A foreign brokerage like Nomura showing confidence in Adani Ports is a good sign for the stock. If you do remember, June was a really bad month for the stocks of the company.

Based on the current sentiment, expecting markets to move back up next week. Even Chinese President Xi Jinping’s aggressive speech did not affect our markets while their markets fell more than 2%.

With the 15,630-15,670 zone as support for Nifty, we can expect to see strong trading sessions in the first week of the third quarter.

Can keep an eye on IT stocks ahead of their Q2 results announcements soon. Will be keeping an eye out if Nifty can sustain above the 15,750-15,800 ‘lock-zone’ next week.

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

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty slides down for the 4th day in a row.

Nifty opened the day at 15,755 and moved down. Moving down, 15,700 was the level around which Nifty consolidated for a long. After 1:30 PM, the index became a bit weak and made fresh day-lows. Nifty closed the day at 15,680, down 42 points or 0.26%.

Bank Nifty opened at 34,832 and moved sideways for the most time. and struggled to keep above the 35k mark. The index fell nearly 300 points in the last 2 hours with general weakness. 34,650 was taken as a support and Bank Nifty closed at 34,684, down 88 points or 0.25%.

Nifty Auto(+0.82%) and Nifty Pharma(0.93%) was the only indices to close with good profits. All other sectors closed with consolidation.

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

News Picks

Dr Reddy(+2.5%) closed as Nifty’s top-gainer in the day with Pharma stocks doing well. This was even when the company was denied approval for Sputnik Light vaccine trials in India. 5,500 was also a good breakout level. SunPharma gained 1.3% in the day.

Auto stocks performed well in the day with auto sales data coming out. As expected, all the data was positive and Bajaj-Auto(+1.71%), TataMotors(+1.4%), Maruti(0.9%) and HeroMotoCo(+0.7%) closed in the top-gainers of Nifty 50.

Bajaj Finserv(-2.4%) slid considerably and closed as Nifty’s top loser. ShreeCem also closed 1.6% down. Both stocks were in Nifty 50’s top loser yesterday.

Idea opened 10% down and closed 9% in the red. The company had reported loss for another quarter yesterday, unable to recover from the AGR dues issue.

Naukri (+8%) gained in the day giving a breakout after many weeks of consolidation. Zomato has bought a stake in Grofers for more than $120 million. 

Happiest Minds(+13.2%) also broke out, continuing the bullishness from yesterday. It hit a fresh all-time high.

Markets Ahead

An expiry once again ruled by option writers. Nifty continuing fall for the 4th day in the row. 35,800 and 15,700 strikes in Bank Nifty and Nifty were having good short straddle buildup and the indices respected it. 

Midcap stocks index closed in the red, with smallcaps gaining with power from Happiest Minds. Hope you are all holding the stock in your portfolio.

15,650 is the nearby support zone for Nifty, with 15,500 also the next important support. Bank Nifty also has support at 34,450 next and strong resistance at 35,000.

Auto sales data was also positive, with this being seen in the stock prices as well. Expecting a slow up move in the stock after lost month’s weakness.

Hope you had a great expiry in the market! 

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty continues to see selling pressure every time it tries to move up.

Nifty opened the day at 15,776 and tried to move up slowly. Till noon, the index moved up but took resistance near yesterday’s high. Afternoon, the index started falling sharply nearly 130 points even breaking below yesterday’s low. Nifty closed the day at 15,721, down 27 points or 0.17%.

Bank Nifty opened at 35,030 and struggled to keep above the 35k mark.  At 11 PM, 35,200 was taken as good resistance. Slowly, a 500-point fall was seen from the day-high to day-low. Bank Nifty closed the day at 34,772, down 240 points or 0.68%.

Nifty IT(+0.63%) was the only index to close in green. All other sectors closed in the red, but with less than a 1% move.

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

News Picks

Coal India(+1.5%) gained in the day after announcing mining fleet decarbonisation including LNG conversion.

Cement stocks fell in the day with ShreeCem(-2.24%) being Nifty 50’s top loser. ACC(-1.8%), UltraCemCo(-0.7%) and others also fell.

Small banks including AuBank(-3.8%) and IDFC First Bank(-2.9%) fell sharply in the day. Bandhan Bank(-1.5%) also fell.

PSU stocks REC & PFC moved up after Cabinet approved Rs 3 lakh crore power distribution scheme. Both the stocks closed 3.8% up. 

Indian Navy signs Memorandum of Understanding (MoU) with BEL for technology incubation forum. The stock closed 1.9% up. 

IIFL Finance approved allotment of NCDs aggregating up to Rs 500 crores. The stock closed at 5% upper circuit.

Manappuram Finance gained nearly 3.5% after Bank of America(BofA) started coverage of the stock

Cummins India closed 5.7% up as the company makes its transition to new CPCB-IV emission norms. Also, brokerages are positive on the stock.

IT Stocks Gain As Rupee Remains Weak Against Dollar; Nifty IT is up nearly 1%.

IT stocks Tata Elxsi(+7.5%) and Happiest Minds(+5.8%) each hit fresh all-time highs today. Infy(+1.14%) closed in the top-gainers list.

NITI Aayog recommends Central Bank of India & Indian Overseas Bank for privatisation. Both the stocks moved more than 8% up. 

IRCON reported Q4 standalone net profit at Rs 170 crores, up 66% compared to last quarter. The stock closed 1.8% up. 

Uflex shares jump 19% after profit doubles in Q4. Recently listed MTAR gained 13% today.

Markets Ahead

Nifty continued to gain for the 5th quarter, straight after March 2020 closed. From April 2021 to June, Nifty has gained nearly 7%.

Even though we saw a net consolidation in the day, midcaps and smallcaps closed in the green.

According to reports, rural stocks are struggling on Covid and delayed monsoons are causing an issue.

As we had discussed yesterday, Nifty and Bank Nifty has fallen below 20-day moving averages it was taking support at yesterday. Bank Nifty even saw a sharp fall after crossing yesterday’s low.

Will be watching for Nifty in its struggling zone of 15,750-15,800 for tomorrow’s expiry. Just like last week, this zone will be critical for the index.

Bank Nifty will be watching 35,050 in the upper side and 34,450 on the lower side.

Hope you had a great day in the market!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty once again moved down in the day, with bears not letting go.

Nifty opened the day flat at 15,812 and was volatile. But after 10 AM, the index moved in a 60-point zone for nearly 4 hours. Towards the end, Nifty turned even bearish and created fresh day-lows. Nifty closed the day at 15,748, down 66 points or 0.42%.

Bank Nifty opened at 35,323 and moved down. For most of the day, the index moved in a 130 point zone, even tighter than yesterday. Just after 2 PM, the index fell even below 35,000, but still somehow climbed back. Bank Nifty closed flat at 35,010, down 350 points or 0.99%.

Nifty PSU Bank(-1.4%) fell the most after gaining for many days. Nifty Metal also fell 1.22% while all other sectors consolidated.

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

News Picks

Powergrid(+1.79%) and NTPC(+1.25%) returned to the top of Nifty 50’s table with decent gains in the day.

Cipla(+1.72%) gained in the day after getting emergency approval for usage of Moderna’s Covid-19 from DCGI.

Marico(+5.5%) gained sharply in the day and hit an all-time high market capitalisation. The stock rallied after Credit Suisse raised the target price of the stock to Rs 600. 

Apollo Hospital(+3.9%) once again moved up after most brokerages talked positively about the company unlocking more value from its businesses in the coming future. The share has gained nearly 12% this week.

National Aluminum(-3.6%) fell in the day after profit booking from yesterday’s rally. Other metal stocks including JindalStel(-2.3%), SAIL(-2.18%), Hindalco(-2.11%) and Coal India(-1.8%) closed in the red.

With crude oil falling nearly 2% ahead of the OPEC meeting, related stocks including IOC(-2.4%) and ONGC(-2.4%) closed as Nifty’s top-losers.

Bank Nifty remained weak in the day and Kotak Bank(-1.5%) and ICICI Bank(-1.5%)  closing in Nifty 50’s top-losers. Interestingly, IndusInd Bank(+0.9%) closed in the top gainers list.

American adhesives manufacturing company, H.B Fuller has signed a distribution agreement with Jubilant Agri and Consumer Products Limited. Jubilant Industries closed 7.8% up.

Heritage Foods launched Heritage Tikka Paneer. The stock closed 7% up.

Fertilizer stocks NFL(+0.99%), RCF(+.99%), ChambalFert(+5.22%) and FACT(+5.99%) closed in the green with small gains. 

Department of Telecom said it is not in favour of merging BSNL with MTNL(Mahanagar Telephone Nigam Limited). MTNL closed 2.2% down. 

Gujarat Mineral Development reported Q4 consolidated net loss at Rs 185 crores vs profit of Rs 12.3 crores last year. GMDC fell sharply and closed 5.5% down.

IRFC reported Q4 standalone net profit at Rs 1,483 crores, up 41% compared to last quarter. The stock moved 6% up in a single 5-min candle after the results and closed 2.2% up.

Markets Ahead

Weakness continued from yesterday in the market. Nifty continued in a bearish channel from yesterday with support at 15,680-15,720 zone.

There is a general weakness in the market with even small-caps and mid-caps closing in the red. 

Bank Nifty has closed touching the 20-day moving average, and a breakdown could see the index moving back to 34,500. But hoping that the index takes support in this zone. Nifty is also at its 20-DMA and tomorrow’s move would be decisive. 

Global markets are also not showing strength, so let’s look at the U.S. markets for some positivity tonight. India VIX being so low, now at 13, but still market moving with volatility. It is truly a market never seen in the last 1 year!

Otherwise, expecting the sideways and slightly bearish market to continue.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty falls after opening at fresh all-time high levels. Closes nearly 

Nifty opened the day at 15,911 with a gap-up and started falling. Even though it tried to move back many times, an even larger fall would pull the index down again. Towards the end, 15,800 was broken but Nifty managed to gain back. Nifty closed the day at 15,814, down 45 points or 0.29%. 

Bank Nifty opened at 35,439 and was in a mood to consolidate. For most of the day, the index moved in a 200 point zone with 35,240 as support and 35,440 as resistance. Bank Nifty closed flat at 35,359, down 5 points or 0.01%.

Nifty PSU Bank(+2.3%) outperformed in the day. Nifty Metal and Pharma gained 1.3% each. All other sectors consolidated.

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

News Picks

Dr Reddy(+1.8%) closed as Nifty 50’s top gainer after announcing the commercial launch of 2-Deoxy-D-Glucose (2-DG) used to treat Covid patients.

Other Pharma stocks including CadilaHC(3%), whose vaccine Zycov is ready for launch closed with gains. AuroPharma(+1.84%) and Biocon(+1.8%) also moved up.

Metal stocks continued bullishness from last day with Hindalco(+1.70%) and Tata Steel(+1.6%) closing in the top-gainers list. National Aluminium(+9%) gained sharply ahead of announcing results today.

Other metal stocks including JindalStel(+3.2%), NMDC(+2.5%), VEDL(+2.12%) closed with gains. Base metal prices, including that of Aluminium, have been trying to move up.

IGL rallied 4% after announcing its Q4 results yesterday. Also as we discussed in the Top International News article on Friday, natural gas prices are rallying. GujGas closed 5.4% up while MGL closed 2.3% up.

ISGEC Heavy shares jumped 20% up after reporting Q4 profits at Rs 63.42, 4-fold increase YoY. Revenue was up 4.5% YoY to Rs 1,520 crores.

Escorts(+1.7%) gained after announcing price hike for tractors from July 1st.

IOB and Central Bank gained 6% each after more news of privatisation.

Shares of Thyrocare dropped nearly 10% after PharmEasy acquired a 66.1% stake in the company at a discounted price. They will also make an open offer for another 26% in the company.

Power Mech Projects, a smallcap with under Rs 1,000 crore market cap, has gotten an order from Coal India worth Rs 9,300 crores. The stock closed 6% up.

With crude oil prices steady at near $74/barrel, shares of OIL gained 3.5% with ONGC gaining 1.2%.

Markets Ahead

Nifty has closed in the red but still managed to stay above the 15,800 zone. HDFC Bank, Reliance and even TCS closed without any strength.

Nifty would go on to make further highs only if it can sustain above the 15,890-15,910 zone. Do keep a watch out for these levels.

With the Finance Minister announcing more support for different sectors of the economy, there is positiveness running around. Tourism, farming, public health are the major sectors receiving aid. Stocks in this sector can be watched.

The Banking and Financial sector will also see reduced stress with the government promising good support to the industry. Expecting a bullish move from the index tomorrow after today’s consolidation. Will be watching out for today’s high to be broken tomorrow, or 35,000 as support in Bank Nifty.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty ends the week in green, with a big push from Bank Nifty.

Nifty opened the day at 15,844 with a small gap-up and started falling. Even with banks moving up, Reliance kept pulling the index down. After taking support at 15,770, the index shot up nearly 100 points and closed near the day-high. With this, Nifty closed the day at 15,860, up 70 points or 0.44%.

Bank Nifty opened at 34,936 and was much more bullish than the general market. After taking resistance at 35,150, it took some time then kept on moving up after 11 AM. Bank Nifty hit a high near 35,500 and closed at 35,364, up 537 points or 1.54%.

Nifty Metal and PSU Bank both gained 2.6% in the day. Bank Nifty and Fin Nifty(+1.22%) also outperformed. Only Nifty FMCG(-0.65%) closed in the red.

Most Asian markets closed in the green with small gains. European markets are trading flat.

News Picks

Metal stocks performed well in the day with Tata Steel(+4.6%), Hindalco(+1.8%), Coal India(+1.6%) and JSW Steel(+1.5%) closing in the top-gainers list. There were reports that Russia is planning export tax on metals to help prices cool down. 

Other metal stocks including NationalAlum(+7.3%), SAIL(+5%), Vedanta(+4.4%) and JindalSteel(+2.3%) also closed with good gains.

After many days of consolidation, Axis Bank(+3%) moved up and closed in the top gainer’s list. SBIN(+2.7%) and ICICI Bank(+2.3%) also were in the top 5 gainers of Nifty.

Ashok Leyland opened with a gap-up after last week’s fall and shot up. In the Conference call by the company, the company said it will continue to increase penetration across markets. The stock moved nearly 10% to the day high and then fell to close 4.4% up.

Maruti(+1.6%) continued bullishness after the 3-month breakout we discussed last day. Tata Motors(+1.4%) also gained in the day.

Reliance(-2.2%) continued bearishness from yesterday and closed again as Nifty’s top loser.

FMCG stocks mostly closed flat or in the red as other sectors started performing well. The sector usually moves up when there is uncertainty, as it is a defensive sector. FMCG moving down can be a sign of bullishness in the general market. Emami(+2.4%), Dabur(-1.87%), HindUnilever(-1.6%) and Nestle(-0.6%) closed with losses.

SpiceJet launches ‘Mega Monsoon Sale’ with cheap fares starting at Rs 999 to attract customers back to flying. SpiceJet closed 0.7% and Indigo closed 2.2% up as vaccination rates also increased.

Indian Hotels’ board will meet on June 30 and will consider fundraising of Rs 250 crores. The stock closed 1.1% up.

Apollo Hospitals closed 7.3% up after reporting good profit numbers yesterday. Metropolis(+3.9%), and Fortis(+3.4%) also moved. 

Vodafone Idea(10.5%) bounced back from yesterday’s fall and closed with good gains.

Shilpa Medicare gets in-principle approval from DRDO to manufacture & sell 2-Deoxy-D-Glucose (2DG) for Covid treatment. The stock rocketed to 5% day high and then closed 3.2% up.

LIC Housing Finance closed 2% up after parent LIC said it will infuse equity capital worth about Rs 2,334 crore in the company for more equity.

PSU Banks closed with good gains in the day. IOB(+7.3%) and Central Bank(+7%), which are soon to be privatised, gained sharply in the day.

Godfrey Phillips reported Q4 standalone net profit at Rs 95.4 last year vs Rs 48.3 (+98%)vs Rs 114 crores last quarter(-16%). The stock closed 5.5% up in the day.

Markets Ahead

With a nearly 350 point gain from Monday morning, Nifty has closed with a strong green candle in its weekly chart. This could indicate more bullishness in the coming week.

Bank Nifty is at a crucial resistance zone of 35,500-35,600 and can show an up move if crossing this. Hoping that next week we will see this.

In good news, Maharashtra said it has vaccinated 3 crore people. That is nearly 25% of its total population, which is a good move. The government also imposed additional restrictions to slow down the Delta Plus variant that is said to be more lethal.

Reliance was once again bearish and pulled Nifty down by 37 points. If not for Reliance, Nifty would have tested and crossed its all-time high of 15,900 today.

But the stock is currently at a good demand zone, and we may see a good bounce back up in the coming week.

Overall was a really good week for us here at marketfeed. How did it go for you? Let us know in the comments section of the marketfeed app!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

The first monthly expiry after new SEBI-Margin rules reduced leverage across the market. Towards the end, Reliance AGM introduced high volatility in the market.

Nifty opened the day at 15,733 and mostly moved sideways with volatility. Just after 12 PM, there was a breakout above the day-high and 15,760. From here, there was some bullishness in the market but 15,800 zone was a good resistance. Nifty tested it, then closed the day at 15,790, up 103 points or 0.66%.

Bank Nifty opened at 34,700 and then moved sideways mostly. Even with the afternoon craziness from Reliance AGM, Bank Nifty was also volatile. 34,935 the highest point of the day, and there was good volatility after 2 PM. After all this, Bank Nifty closed at 34,827, up 253 points or 0.73%.

Nifty IT(+2.8%) performed extremely well in the day. Nifty PSU Bank and Media fell more than 1% each, while all other indices consolidated.

All Asian and European markets are in the green, with small profits.

News Picks

Mukesh Ambani talked about Reliance’s plans to enter and heavily invest in the green energy sector. He also talked highly of the growth seen in Jio, Retail and such.

Announced a cheap 4G phone in partnership with Google and more. Saudi Aramco will invest in the O2C business this year, and Reliance has added Aramco Chairman as an independent member of the board. Shares closed 2.35% down after high volatility.

IT stocks were performing well from when the day started. Infy(+3.73%), TCS(+3.44%) and TechM(+2.23%) closed as Nifty 50’s top-gainers. 

Other IT stocks including CoForge(+3.4%), Mphasis(+3.2%), Mindtree(+2.1%), HCLTech(+1.7%) and TechM(+2.2%) gained.

TCS launched a product called Quartz for markets to help exchanges and financial institutions innovate with Tokenized Assets. The stock was moving up from the market opening itself and closed 3.4% up.  

Telecom stocks Vodafone Idea(-4%) and Bharti Airtel(-1%) closed in the red with Reliance’s strong presentation of Jio.

UTI AMC(+12.7%) shot up near the end with high volumes and hit fresh all-time highs. The stock has so far gained 71% since getting listed in Oct 2020 and looks like there is more to go.

Two new stocks got listed in the market today. Shyam Metalics listed at 23% above IPO price and Sona Comstar at 24% above its IPO price.

Maharashtra Government said they will review unlock plans as Delta Plus Covid cases rise. PVR(-2%), INOX(-1.1%), Phoenix Mills(-1.3%) closed in the red.

CBI raids CG Power’s office, and CG House in NCR and Mumbai. CG Power fell suddenly after the news but managed to cut the losses and closed 0.3% down.

SBI Card and Fabindia will launch Fabindia-SBI Card. The stock closed 4% up. Looks like it is moving up from a good support zone.

Sugar stocks Balram Chini(+7.6%), Dalmia Sugar(+14.6%), Renuka Sugar(+4.8%) and Triveni(+6.55%) once again moved in the day. 

Markets Ahead

Reliance was bearish from the beginning of the day after breaking the 2,200 mark. From here it slowly kept falling and hit a low at 2,140. The resultant effect? Nifty was dragged down by 43 points by Reliance alone!

From when the AGM started at 2 PM., Reliance fell 1.5% by market close. Meanwhile Nifty moved 0% at the same time as big players kept it volatile and steady at the same time. Funnily, stocks other than Reliance were the most volatile in the day.

In between all this, Infy and TCS together contributed 71 points to Nifty. Remember Infy’s buyback starts tomorrow and it is a stock that has always given shareholders maximum returns.

The June expiry series has ended nearly 450 points up from the May expiry for Nifty. Meanwhile, Bank Nifty has ended 250 points down. Expecting more participation from the index tomorrow and going forward to July.

Watching SBI Cards also for a good move back up in July after the June fall.

Hope you had a great day in the market!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty continuing yesterday’s afternoon bearishness!

Nifty opened the day at 15,862 with a 90-points gap-up. From the first minute, it started moving down first taking support at 15,780 then moving even further down. After 2 PM, another 100 point fall was seen. Nifty closed the day at 15,686, down 85 points or 0.54%.

Bank Nifty opened at 34,870 and was in a mood to consolidate. Just at 2 PM, the index was almost near the day-high. A 350 point fall was seen from here and Bank Nifty closed the day at 34,574, down 171 points or 0.49%.

Only Nifty Auto(+0.46%) closed in the green. Nifty Metal(-1.13%) fell while all other sectors closed with less than 1% loss.

Asian markets closed mostly mixed in the day. European markets are all trading flat with not much change.

News Picks

Maruti(+2.3%) once again closed as Nifty’s top gainer, continuing its bullishness from yesterday. The stock hit a 4-month high.

Shares of Titan(+1.45%) closed at an all-time high today. Titan Jewellery division’s CEO Ajoy Chawla had said they are expecting a U-shaped recovery and opening up only those stores – 270 so far – where 100% of our staff has been vaccinated.

IT shares once again featured in the top-losers section with Wipro(-2.95%) and TCS(-1.21%) closing in the red.

UBL confirmed Heineken has bought an additional 14.98% shares, increasing the total stake to 61.50% from 46.52%. UBL closed 3.6% down after opening at a new fresh all-time high. 

NMDC profits fell short of expectations, even with good numbers. The stock closed 3.5% down.

PEL completed the acquisition of a 100% stake in Hemmo Pharmaceuticals for Rs 775 crores cash. The stock moved up and then closed flat. 

Wockhardt Pharma’s promoter pledged 6.58 lakh shares from June 16-21. Total pledged shares now stand above 22%. The stock is down by 5.6%.

Shipbuilder GRSE commissioned a new 250 tonne Goliath Crane worth an approximate cost of Rs 155 crores. The stock closed 3% up.

Bharat Electronics says Rs 15,000 to 17,000 crores of orders are expected this year. The company also announced good Q4 results yesterday. The government-run company is also setting up a plant for making lithium-ion battery cells. The stock closed 11% up.

Other defence equipment companies including BHEL, BEML, BDL and HAL saw a jump in stock prices around the same time.

Infosys will begin buyback from the open market on June 25 and end by December 24.

Hero MotoCorp closed 0.73% up after hiking the prices of its bikes. The stock fell sharply after the bullish open. 

Adani Ports fell 3.26% after getting excluded from investment by Norway’s largest pension fund from June 2021. 

Shares of Sobha fell more than 4% after reported a 65% YoY decline in its consolidated net profit at Rs 17.9 crore for Q4.

Markets Ahead

Moody’s expect India’s real GDP to grow at 9.6% in 2021, 7.0% in 2022 and says that economic damage in India will remain restricted to April–June quarter.

HDFC Bank was looking strong and actually kept Bank Nifty from falling heavily. SBIN also closed flat and did not fall. 

Just a 0.5% move downward from Nifty, even on such a bearish day. But yes, if you count today’s gap-up, it was a more than 1% fall. I would still call it net consolidation with both midcaps and small-caps closing better than Nifty 50.

Expecting a reversal in the market tomorrow. Reliance’s AGM is also tomorrow at 2 PM and volatility can be expected.

ONGC once again closed in the green with a near 1% gain. OIL India also gained more than 1%. These shares can be watched in the medium term.

Hope you had a great day in the market!

Catch you all on The Stock Market Show tonight!