Tag: Reliance share

Today’s Market Summarised

Indian markets move back up after the sharp fall yesterday.

NIFTY opened at 17,053 with a gap-up and moved up. By around 1 PM, the index hit a day-high and then cooled back down. Support was taken soon and the index hit closed with strength. NIFTY ended the day at 17,136, up by 178 points or 1.05%.

BANK NIFTY opened at 36,504 and fell more than 300 points in 15 minutes. Throughout the day, the index traded in a 400 point zone and moved sideways. BANK NIFTY ended the day at 36,314, down by 26 points or 0.07%.

NIFTY Auto, NIFTY IT and NIFTY FMCG closed well during the day.

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

News Picks 

BPCL (+3.7%) closed at a 2-month high with good buying and closed as NIFTY’s top-gainer. Reliance also once again gained nearly 3% for the day.

Auto index outperformed in the day with Tata Motors (+3.6%), Eicher Motors (+3.3%) and Maruti (+3.1%) moving up more than 3% each.

Cement companies also moved up led by Shree Cements (+3.4%) and Ultratech Cements (+3.3%) in NIFTY. ACC (+7.3%) and Ambuja Cement (+4.8%) also shot up. ACC is up after posting Q4 results yesterday.

LTI (-5.5%) shares fell once again as the Q4 results of the company disappointed investors.

SAIL (-2.1%) moved down after Rakesh Jhunjhunwala’s name did not appear in shareholding, indicating he sold his stake.

Nestle India (+2%) moved up ahead of its results announcement today.

PSP Project (+5.2%) moved up after winning a large order worth Rs 948 crores.

Markets Ahead

Reliance is continuing to provide crucial support for the index. The stock is just under 1% away from its all-time high valuation!

Markets are in an important zone now. NIFTY has consolidated around this zone many times in the past. Those who are going bullish on the market can do so with a strict stoploss at 16,835 for NIFTY. 

The 36,300 zone is also important for Bank Nifty. So keep an eye out if the index closes below this level.

On similar notes, expecting stability in the market, NIFTY IT is currently at support in a downward channel pattern. We can expect today’s recovery to continue for a few more days.

International markets seem to have taken the Ukraine-Russia news lightly. Even though some panic exists, a large fall like last time will not happen again unless there is a high escalation.

Also, looks like a 4th wave is coming soon in Covid. Do you think it will affect the market this time? Let us know in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

Markets crash sharply after Russia launches airstrikes across eastern Ukraine overnight.

NIFTY opened at 17,259 with a gap-up and moved down slowly. It took support at 17,150 and bounced back up to the day-high by 2 PM. Around this time, news started coming out from Ukraine and a fall of more than 430 points was seen. NIFTY ended the day at 16,958, down by 215 points or 1.25%.

BANK NIFTY opened at 36,834, with a slight gap-up. Eventually, the index broke the day-high and even briefly crossed the 37,000 resistance. News from Russia pulled the index 1200 points down from the day-high. BANK NIFTY ended the day at 36,341, down by 387 pts or 1.05%.

All sectoral indices closed the day in the red. NIFTY IT, NIFTY FMCG and NIFTY Realty fell the most.

Asian markets closed mixed in the day. European markets also fell along with our markets after the Russian news and are trading in the red.

News Picks

Coal India (+4.3%) gave a breakout once again and closed among the top-gainers in NIFTY 50 again. Energy stocks Reliance (+3.8%), Hindustan Petro (+3.4%), GAIL (+1.2%), IOC (+1.7%) and BPCL (+1.1%) were among the other gainers.

ICICI Bank (+1.1%) and SBI (+0.45%) were among the biggest gainers from Bank Nifty before the afternoon fall.

AU Small Finance Bank (+2.9%) was up by 5% in the morning after news of a bonus issue with results on April 26.

HDFC group stocks – HDFC (-5.4%), HDFC Life (-4.8%) and HDFC Bank (-3.8%) once again crashed in the day. 

SBI Life (-4.1%) gave away yesterday’s gains and fell.

Infosys (-3.6%) and TechM (-3.2%) once again featured in the top-losers list.

Jubilant Food traded lower after the stock price got adjusted for a 1:5 split.

Both Mindtree (-8.1%) and LTI (-6.8%) fell after the CEO of Mindtree said the merger news of the companies is purely speculative.

NLC India (+4.3%) moved up after news of Tamil Nadu Govt buying an additional 6000 MW of power from the company.

Apollo Hospitals (+5.7%) moved up after a big fall yesterday.

Markets Ahead

NIFTY has now fallen for the 5th consecutive day with the HDFC twins and Infosys. Just like we expected yesterday, these 3 heavyweights continued their weakness and Reliance bounced back.

The one ‘edge case’ or surprising factor that happened today was the fresh news from Ukraine. The panic caused markets to crash from their day highs. Till then it looked like Reliance was able to keep NIFTY up despite the other heavyweights falling.

If we look at the European markets and the U.S. Futures charts currently, we can see that they are bouncing back up now. If they manage to recover more, we might see a gap-up in the Indian markets tomorrow.

Are you holding Reliance shares in your portfolio? Let us know in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

Markets close in red after a long weekend with Infosys crashing down.

NIFTY opened at 17,187, with a big gap-down and tried moving up. But just after noon, the index fell down to near the 17,000 zones. Even with a recovery, the index could not move up. NIFTY ended the day at 17,173, down by 302 pts or 1.73%.

BANK NIFTY opened at 36,851, down by more than 600 points. The index could not break the 37k mark and soon fell by more than 500 points. The index bounced back towards the closing, and BANK NIFTY ended the day at 36,729, down by 734 pts or 1.96%.

NIFTY IT (-4.5%), NIFTY PSU Bank (-2.5%) and NIFTY Finserv (-2.2%) fell the most today. NIFTY FMCG (+0.60%) once again closed in the green.

Asian markets mostly closed in the red. European markets were closed in the day for Easter.

News Picks

NTPC (+6%) continued to shoot up after positive brokerage reports on the company. It closed as the top-gainer in NIFTY.

Life insurance companies – SBI Life (+2.3%), HDFC Life (+1.6%) moved up as LIC IPO gained steam again.

Infosys (-7.2%) crashed and opened with a gap-down after reporting Q4 numbers. Similarly, HDFC (-4.8%) and HDFC Bank (-4.7%) also fell after poor results.

Other IT companies TechM (-4.6%), Wipro (-3.6%), TCS (-3.6%) and HCL Tech (-2%) closed in the top-losers of NIFTY 50.

Mphasis (-5.6%), LTTS (-4.5%), Mindtree (-3.4%)and LTI (-2.7%) also closed in the red from IT companies.

Tata Power (-5.5%) fell after announcing the sale of a 10% stake in its renewable business. Meanwhile, Torrent Power (+4.1%), NTPC (+6%) and Coal India (+1.5%) moved up from the power sector.

This happened as the All India Power Engineers’ Federation said there is only eight days of coal left in thermal power stations in 12 states.

Markets Ahead

NIFTY fell overwhelmingly with the fall of Infosys today. The stock fell because of its poor Q4 results. Other IT companies also fell because of a domino effect.

Global markets also gave cues to NIFTY with Nikkei being 2% down when we opened. European markets were closed today, but the U.S. market will give some indication for tonight.

Infosys falling is a concern but similarly important is the fall of the HDFC twins. HDFC has now fallen 23% from April 4th’s high. You can observe a similar fall in HDFC Bank, as well.

With the worst day in six weeks for NIFTY, we might see some continuation as 3 heavyweights look weak. Reliance will need to bounce back from the 2500-zone in order to keep the markets stable for now.

How was your 4-day weekend from the market? Were you taken by surprise by the fall in Infosys? Let us know in the comments section of the marketfeed app!

See you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

NIFTY opened at 17,600, up by 69 pts or 0.40%. The index tried to move up in the first fifteen minutes, but failed to break the 17,650 level and then moved down 200 pts to touch the day low at 17,457. After that, it was kind of consolidation in the 17,460-520 range. NIFTY ended the day at 17,475, down by 54 pts or 0.31%.

BANK NIFTY opened at 37,887, up by 139 pts or 0.37%. The index tested the resistance zone above 37,900 in the first candle, but the region said “No, better luck next time”. It fell nearly 1.5% from the day high following a trendline. BANK NIFTY ended the day at 37,463, down by 284 pts or 0.75%.

NIFTY AUTO (-0.84%), NIFTY FINSERV (-0.87%), NIFTY MEDIA (-0.77%) and NIFTY REALTY (-0.54%) closed with significant loses. NIFTY FMCG (+0.69%) made a amazing U-shape recovery.

Yesterday Japan fell 1.8% and China moved 1.4% up. Interestingly, today Japan gained 1.9% and China fell 0.82%. European markets are currently trading  flat to 0.7% red.

News Picks

Nifty 50 top losers list is filled with major stocks from most of the sectoral indices. Maruti (-1.9%), Tata Motors (-1.6%), Eicher Motors (-1.2%), HDFC (-1.9%), HDFC Bank (-1.9%), Kotak Bank (-1.2%) Dr Reddy (-1.6%), and Bajaj Finserv (-1.4%) closed more than 1% down.

IGL (+3.3%), MGL (+1.5%) and GujGas (+0.88%) are continuing with the CNG price hike. Other Oil- gas-related stocks like ONGC (+3.21%), IOC (+1.4%), OIL (+1.1%), Hind Petro (+1.2%) also moved up.

The media reported that PM Modi is likely to soon review the disinvestment process, and assess progress in BPCL (-0.42%), SCI (+6.1%), and IDBI BANK (+3%). 

ITC (+1.7%) closed well with after noon recovery.

Hathway(-5.1%) fell down after reporting weak Q4 results yesterday. 

Markets Ahead

Nifty is continuing its weakness and today Bank Nifty also supported the down move. But Nifty taking support around 17,450 and Bank Nifty continuing in the consolidation zone is a great relief. 

Nifty couldn’t sustain the gap up opening majorly due to negative global cues. And it was also expected to see selling since the market will be closed for the next four days. 

It was overall a downtrend day for the weekly expiry, but volatility was seen in indices and major midcaps.

Satellite Imagery taken by Maxar Technologies from April 11 revealed that Russian forces continue moving into Eastern Ukraine. This brought the concerns of the Russia-Ukraine war again. Ukraine said that no humanitarian corridors on Wednesday as the situation is’ too dangerous’.

However, the next four day-holiday is a good opportunity for stock market participants to free up their minds, take some rest, and spend time with dear ones. What are your plans? We would like to know more and see you all today at 7 PM on The Stock Market Show.

Today’s Market Summarised

NIFTY opened at 17,584, down by 90 pts or 0.51%. The index was too weak till afternoon and touched a day low at 17,442. A sudden jump after that helped Nifty to cut the losses but failed to break the day high near 17,600. NIFTY ended the day at 17,530, down by 144 pts or 0.82%.

BANK NIFTY opened at 37,407, down by 206 pts or 0.55%. The index was trying to recover from the opening itself, unlike Nifty. Bank Nifty shot up 1.5% in one hour after 1:45 pm, but 37,900 is acting like a super resistance for the index. BANK NIFTY ended the day near Friday’s close at 37,747, up by 133 pts or 0.36%.

NIFTY METAL (-2.7%), and NIFTY REALTY (-2.7%) fell the most today. NIFTY IT (-1.4%), NIFTY MEDIA (-1.5%), and NIFTY PSU BANK (-1.2%) closed more than 1% down.

Japan fell 1.8% while China (+1.4%) recovered from yesterday’s fall. European markets are currently trading 0.5-1% down.

News Picks

Nifty 50 top gainers list is dominated by banks with Axis Bank (+1.5%), Kotak bank (1.21%), ICICI Bank (+0.5%), and IndusInd Bank (+0.47%) moving very well in the afternoon. 

Bandhan Bank closed 3.2% up. But Federal Bank(-1.6%), IDFC First Bank (-1.9%), and PNB (-1.8%) ended in the red.

Nifty Metal stocks took a huge hit today due to falling global metal prices. Hindalco (-5.9%), Coal India (-5.3%), Tata Steel (-2.7%) featured in the Nifty 50 top losers list. 

Other metal stocks HindCopper (-2.7%), Hind Zinc (-2.3%), JSW Steel (-1.5%), Jindal Steel (-2.2%), NMDC (-2.4%), National Aluminium (-3.5%), SAIL (-1.7%), VEDL (-4.7%) also moved down. 

Nifty IT continued to see heavy selling with COFORGE (-3.8%), INFY (-1.3%) LTTS (-4.3%), LTI (-2.4%), MindTree (-4%), Mphasis (-2.3%), Tech M(-2.3%), and Wipro (-2.1%) closing in the red.

PVR (+2.3%) moved up as KGF Chapter 2 movie reported good advance booking.

Most of the Tata group stocks moved down today. Tata Motors(-3%), Tata Steel (-2.7%), Tata Power (-2.7%), Tata Chem (-3.1%), Tata Elxsi (-3.4%), Tata Consumer (-1.1%), and Tata Communication (-1.4%) ended with loss. TCS (-0.14%) closed flat after reporting Q4 results yesterday. Tata Motors reported weak JLR global wholesales.

Just Dial (+10%), MAZDOCK (+8.8%), and Cochin Ship (+5.3%) did not respond to market mood.

Markets Ahead

Nifty opening below 17,600 was a clear sign of morning fall and it happened. 17400-450 is the region to be watched as it is acting as support again.

Today we were watching Bank Nifty closely because it was slowly cutting the losses while others moved down. Bank Nifty is still in the consolidation zone with 37,900 acting as a good resistance for many days. 

More than 1% sudden recovery in France and Germany was the major triggering factor for today’s afternoon movement in the market.

Rising inflation & risk of a policy rate hike are affecting the market adversely. Reports say that German banks- Deutsche Bank and Commerzbank fell after an undisclosed investor sold stakes of more than 5%.

How was your trading today? Standing away from the market or finding your own way? Post your thoughts in comment session below.

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

Nifty opens the holiday-powered week without any clear directions.

NIFTY opened at 17,740, down by 43 pts. The index was swinging up till 1: 30 pm and then it fell sharply to take support at 17,650. NIFTY ended the day at 17,674, down by 109 pts or 0.62%.

BANK NIFTY opened the week at 37,591 and slowly moved up. But 37,900 acted as a resistance and the index fell 1% from the day high. BANK NIFTY ended the day at 37,613, down by 138 pts or 0.37%.

NIFTY IT (-1.4%)m NIFTY MEDIA (+1.3%) and NIFTY REALTY (+1.1%) closed with more than 1% change. 

Hong Kong (-3%) and Chinese(-2.6%) markets fell heavily. European markets are trading mixed currently.

News Picks

Grasim (+2.7%) continued the breakout and closed as the Nifty 50 gainer. 

Many cement stocks such as Ambuja Cements(+6.7%), ACC (+2.8%), India Cements (+1.9%), JK Lakshmi (+3.5%), Orient Cements (+2.1%) also moved up.

Oil stocks IOC(+1.8%), BPCL (+1%), Hind Petro (+1.7%) closed more than 1% up. India’s March Diesel and Petrol sales are up 6% compared to last year even with rising prices.

Sun TV (+3.3%) broke out after 3 pm with good volumes.

Major IT stocks HCL Tech (-2.7%), LT (-2.7%), INFY (-2.6%), Wipro (-2.1%) moved down ahead of result announcements. TCS will announce Q4 results today and INFY’s results are expected this Wednesday.

Veranda Industries was listed at Rs 131/share on NSE & Rs 158/share on BSE vs the issue price of Rs137/share.

DBL (+6%) and BDL (+6.3%) showed amazing movement just after the opening.

Reports say that HAL (+3.6%) and LT (-2.6%) have emerged as the lowest bidder to make 5 polar space launch vehicles (PSLVs) for ISRO. 

IDBI Bank (-0.42%) said that their Shree Renuka Sugar (+13.8%) stake is now at 9.5 per cent after the conversion of debt to equity. Oher sugar stocks EidParry (+5%), and Dalmia Bharat Sugar (+3%) also moved up.

Adani portfolio stocks Adani Green (+14.7%), ATGL (+9.8%), Adani Wilmar (+5%), Adani Trans (+8.5%), and  Adani Power (+5%) skyrocketed once again. Adani Ports (+1.8%) and Adani Ent (+0.43%) closed in the green.

PayTM (+11.4%) and GAEL (+11.8%) shot up with huge volumes.

Markets Ahead

We have only three trading days this week and today’s market tricked us without giving any clear trend. The 17,650 and 17,600 levels are continuing as good supports for Nifty.

We will have to wait for IT results as it can give momentum to the market, upside or downside.

Bank Nifty is consolidating in the 37,400-950 range from April 6 and if this continues Nifty IT will be having the baton.

HDFC(-1.3%) and HDFC Bank (1.2%) is erasing its gains. Did you get trapped in the merger news breakout?

Looking deeply, we can see a good fight between bulls and bears today with 17,775 acting as a resistance and 17,650 as support. Who will be the winner? Let the market decide!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

RBI announcement and global positivity push our market up.

NIFTY opened at 17,706 with a gap-up and moved down. The index was really volatile with the RBI Governor’s announcement and ended up moving up. The index moved up 245 points from the day-low and NIFTY ended the day at 17,784, up by 144 pts or 0.82%.

BANK NIFTY opened at 37,642 and took support at yesterday’s low. The index moved up 360 points in 20 minutes and fell 400 points in 10 minutes. Eventually, the index moved up towards the afternoon. BANK NIFTY ended the day at 37,752, up by 194 pts or 0.52%.

NIFTY FMCG (+2%) and NIFTY METAL (+2%) jumped up. All other indices consolidated.

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

News Picks

Grasim (+5.3%) jumped to a 2-month high with a high volume breakout and closed as the top-gainer in NIFTY 50.

SBI Life (+4.6%) also jumped to a 2-month high while ITC(+4.34%) hit a fresh 52-week high.

JSW Steel (+3.9%), Jindal Steel (+2.3%), National Aluminium (+1.9%) and SAIL (+1.6%) were among the top gainers from the Metal index. JSW Steel said production grew 11% YoY at 1.7 lakh tons.

RBL Bank (-6.6%) continued to fall after Singapore-based investment company Integrated Core sold 34 lakh shares yesterday.

CholaFin (+8%) moved up after loan disbursements increased by 58% in Q4 to Rs 12,718 crores (YoY). 

Tyre stocks saw buying towards closing time. Apollo Tyres (+2.8%), Ceat Tyres (+12.8%), JK Tyres (+12.1%) and others saw big breakouts.

Defence stocks BDL (+15.3%), BEL (+2.2%) and HAL (+2.6%) continued their breakout.

Devyani International (+1.8%) moved up after KFC and Pizza Hut raised prices.

Vodafone Idea (+2.7%) moved up after the Department of Telecom returned a bank guarantee to the company worth Rs 15,000 crores.

Markets Ahead

The RBI Governor induced a lot of volatility into the market with his statements. One moment he was talking about high inflation and the next he went on to say that RBI will continue to guarantee enough liquidity in the market. You can read all about the announcement here.

The Mutual Funds data showed equity funds saw an inflow of Rs 28,460 crores in March, indicating retailers bought the dip. Debt funds saw Rs 1.15 lakh crores outflows in March.

ITC gave a breakout in the day which was long-awaited! Reliance is also recovering from the last week’s sell-off.

Keep a watch on AU Small Finance Bank. It is looking for a breakout to fresh all-time highs.

Global markets are looking bullish ahead of the weekend. If there are no negative international cues over the next two days, we may see a good day for NIFTY on Monday.

Did you catch any breakout stocks in the week? Let us know in the comments of the marketfeed app!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets move down for the day despite an afternoon recovery attempt.

NIFTY opened at 17,755 with a gap-down and moved down. The index found support around 11 AM and flew back up but could not break the low from yesterday. A sharp fall was seen after this and NIFTY ended the day at 17,639, down by 168 pts or 0.94%.

BANK NIFTY opened at 37,500 and kept playing around that zone. It created a day-high near the 38k mark around noon but failed to continue the rally. A similarly fast fall was seen followed by consolidation in the index. BANK NIFTY ended the day at 37,557, down by 75 pts or 0.20%.

NIFTY METAL (-1.6%), NIFTY IT (-1.2%) and NIFTY MEDIA (-1.2%) moved down. All other indices consolidated.

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

News Picks

Axis Bank (+2.3%) closed as the top-gainer in NIFTY 50 after Fitch Ratings said the company will benefit from the acquisition of Citi India’s retail business.

Adani Ports (-3.8%) closed as the top-loser in NIFTY, seeing a slight correction after a week-long rally.

Titan (-3.2%) fell after saying its jewellery business reported a 4% YoY fall in revenue for the last quarter.

HDFC (-2.8%) and HDFC Bank (-2.2%) corrected to near levels before the news of the merger with profit booking kicking in.

Defence stocks BDL (+8.7%), BEL (+6.5%) and HAL (+1.9%) were among stocks that gave good moves.

Godrej Consumer Products (+3.8%) jumped up after saying it saw double-digit sales growth for the last quarter.

Markets Ahead

Markets opened with a gap-down following the U.S. Federal Reserve once again saying they are looking at strict measures to reduce inflation.

Just like we expected yesterday, BANK NIFTY was limited by the Open Interest data. A breakout above the 38,000 mark would have made today a solid bullish day for the index. 

NIFTY IT also declined for the second day in a row following the U.S. tech stocks fall. Metal index broke a 4-day winning streak. 

Reliance, HDFC and HDFC Bank need to stabilise for the market to show strength again.

The market seems to have regained its composure. BANK NIFTY continuously respected the 36,500 support in the afternoon. If global markets help, we can see our markets start to recover and retake the 18,000 zone again.

The first weekly expiry of FY23 has gone by. How did it go for you? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets consolidate once again after the gap-down opening.

NIFTY opened at 17,852 with a 100-points gap down. The index could not break the 17,900 level and created a day-low soon. After trading in a 120-point zone for the whole day, NIFTY ended the day at 17,807, down by 150 pts or 0.83%.

BANK NIFTY opened at 37,746 and took support near the 37,500 mark. The index tried to move up in the afternoon with power from SBI but soon fell back to the day-low again. BANK NIFTY ended the day at 37,632, down by 435 pts or 1.14%.

NIFTY IT (-1.6%), NIFTY FINSERV (-1.6%) and NIFTY Bank (-1.1%) closed in the red. NIFTY METAL (+.3%) and NIFTY PSU BANK (+2%) closed in the green.

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

News Picks

Coal India (+3.1%) moved up in the day and closed as the top-gainer of NIFTY. 

SAIL (+4.4%), Tata Steel (+1.9%), National Aluminium (+3.5%) and Jindal Steel (+2.8%) helped the Metal Index close well in the green.

IOC (+2.7%), BPCL (+1.5%) and Powergrid (+1.5%) continued to perform from the energy sector. Tata Power (+5.9%), Hindustan Petro (+3%) also moved up

Marico (-4.1%) opened with a big gap-down after the company said consumption between Jan-March was low due to weak rural demand and price hikes.

Paytm (+4.6%) moved up after issuing a business update. Sees loan growth above 400%. The company said expects operating EBITDA breakeven in the next 6 quarters.

Airtel (+1.1%) and ITC (+0.06%) are approaching their 52-week highs. Indian Hotels (+6.5%), Vedanta (+3.2%), Bank of Baroda (+3.3%), Delta Corp (+2.6%), Jindal Steel (+2.8%) and IDFC (+3.8%) touched 52-week highs.

Idea (+4.3%) moved up for the 4th day in a row after Vodafone increased its stake in the company through its subsidiary.

IRCTC (-3.7%) fell after reports of the Government selling 3% stake through Offer for Sale.

Markets Ahead

Markets have been pushed back to near NIFTY’s 5-day Exponential Moving Average.

Power and energy stocks are continuing their rally while the rest of the market is trying to move back down. Adani Power closed another day at its all-time high.

BANK NIFTY is now looking like the index still has more room to move up. But the Open Interest data indicate that there is bearishness before the weekly expiry tomorrow. So after tomorrow, the move up may come on Friday.

The Federal Reserve minutes tonight may affect the NIFTY’s opening tomorrow. So keep an eye out for it!

Have you invested in Adani stocks? Let us know in the comments down below!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets consolidate and close in red after yesterday’s breakout.

NIFTY opened at 18,089 and moved down. The index consolidated around the 18k mark before hitting a fresh day-high at 1:30 PM. European markets opened in the red and pushed down our markets as well. NIFTY ended the day at 17,957, down by 96 pts or 0.53%.

BANK NIFTY opened at 38,759 and fell more than 700 points. After a slight recovery, the index fell to near the 38k mark by closing time. BANK NIFTY ended the day at 38,067, down by 567 pts or 1.47%.

NIFTY AUTO (+1.2%) and NIFTY FMCG (+1.2%) closed well in the green. NIFTY Bank (-1.4%) and NIFTY FINSERV (-1.5%) closed in the red today.

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

News Picks

Adani stocks continued their rally with Adani Ports (+3.6%) closing as the top-gainer in NIFTY 50. 

Adani Enterprises (+3.5%) hit a fresh all-time high with AWL (+5%), ATGL (+4.1%), Adani Power (+10%) and Adani Green (+3.7%) also moving up.

NTPC (+3.3%), PowerGrid (+2.4%) and ONGC (+2.2%) closed in the top-gainers list from energy stocks.

Tata Power (+8.5%) and Torrent Power (+4.7%) saw strong breakouts near market closing.

Polycab (+7.5%), Havells (+6.6%), Voltas (+3%), Blue Star (+3%) and Dixon (+5.3%) were among the electronics related stocks that moved up. Blue Star said today that the prices of ACs in the country may soon rise further by 2-3%.

Tata Motors (+2.5%) led the gains for auto stocks after news of 3 new EV announcements this month.

HDFC Bank (-2.9%) and HDFC (-2.1%) cooled down after yesterday’s rally. Bajaj Finserv (-2.2%), Kotak Bank (-1.8%), IndusInd Bank (-1.4%) and Bajaj Finance (-1.3%) closed as the top losers from finance stocks.

SBI Cards (-4.2%) fell sharply after investor Carlyle Group sold its entire stake in the company for around Rs 2,600 crores.

Markets Ahead

Markets have been stretched after yesterday’s rally in the HDFC group stocks. Today’s slight correction is an indication of the temporary tiredness in the index.

Still, Bank Nifty is above the 38k mark for the first week since mid-February. Keep a watch on the FMCG index recovery as well.

Adani Stocks are on fire currently with most of them giving massive rallies in the last few weeks. Adani Enterprises jumping to fresh highs every day has pushed Gauta Adani to the title of Asia’s richest man!

Which stock is the best performing in your portfolio? Let us know in the comments down below!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets get a fresh breakout with the help of HDFC Twins merger!

NIFTY opened at 17,816 with a big gap-up following the HDFC merger news. The index quickly shot up nearly 300 points and fell down 226 points by noon. There was a fresh move after 1 PM which helped NIFTY close above 18k. NIFTY ended the day at 18,053, up by 382 pts or 2.17%.

BANK NIFTY opened at 37,861 with a 700 points gap-up. A quick up-move of nearly 1,000 points was seen after which it cooled down. The index moved back up in the afternoon and BANK NIFTY ended the day at 38,635, up by 1486 pts or 4%.

All sectoral indices closed in the green today. NIFTY BANK (+4%) and NIFTY Finserv (+4.6%) shot up the most followed by NIFTY METAL (+2%).

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

News Picks

HDFC Bank (+10%) and HDFC (+9.2%) closed as the top-gainers in NIFTY after announcing a merger today. You can read all about it here. 

HDFC Life (+3.9%) moved up after the parent HDFC (+9.2%) said they are planning to increase its stake in the company.

Godrej Agrovet (+18.3%) moved up along with Ujjivan Small Finance Bank (+10.7%), Railtel (+9.8%), GSFC (+9.4%) and NCC (+9.3%) from NIFTY 500.

Adani Ports (+4.1%) reached its highest level since October 2021 with a good breakout. Adani Enterprises (+1%) is at an all-time high level.

Kotak Bank (+3.3%) moved up after ICICI Securities (+2.4%) gave a buy call on the stock. 

Metal stocks saw healthy breakouts with SAIL (+4.1%), Vedanta (+3.8%), National Aluminium (+3.2%) and Jindal Steel (+3.1%) leading the moves. 

Markets Ahead

NIFTY closed at a 1-month high with huge power from HDFC Bank and HDFC. Hoping you know about the entire situation by now.

The merger is said to be really beneficial for HDFC as it stands now. Even though confusions exist, we can see that investors in the market have taken this positively.

IHS Markit India’s March manufacturing PMI at 54.0 vs 54.9 in February.

The move today has given fresh confidence to bulls in the market. Just as we expected, once the 200-day Moving Average was crossed, NIFTY has been seeing more and more strength.

Expecting NIFTY to be confused tomorrow as HDFC stocks cool back down but the index is above 18k mark. The index is just 3% away from its all-time highs!

Many stocks are buzzing right now. Keep an eye out as market goes into recovery mode.

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

The market gives a breakout on the first day of the financial year.

NIFTY opened at 17,437 with a slight gap-down and started moving up, The index traded around yesterday’s high till after 1 PM. Things got interesting after that with NIFTY shooting up more than 100 points just in the last 30 minutes. NIFTY ended the day at 17,670, up by 205 pts or 1.18%.

BANK NIFTY opened at 36,253 and quickly broke yesterday’s high. After this, the index kept taking resistance around 36,800 which was broken afternoon. BANK NIFTY ended the day at 37,141, up by 775 pts or 2.13%.

NIFTY PSU BANK (+4%) gave a breakout. NIFTY Bank (+2.1%), NIFTY Realty (+2.3%) gained more than 2% while only Pharma(-0.03%) closed slightly in red.

Major Asian markets closed mostly in green. European markets are trading in the green.

News Picks

NTPC (+5.8%) group reported record power generation and the stock shot up.

Other energy stocks BPCL (+4.1%), PowerGrid (+3.8%), IOC (+2.6%) and ONGC (+2.4%) also closed among the top-gainers of NIFTY.

Hero MotoCorp (-2.3%) opened with a big gap-down and recovered after siphoning of funds via shell firms was allegedly found in the recent raid.

BHEL (+9.1%) gave a breakout in the day along with Manappuram (+6.3%), HDFC AMC (+6%) and Indiabulls Housing Finance (+5.8%).

IOLCP (+20%), Spandana (+19.5%), Lux Industries (+15.6%), Sunteck (+11.6%), NCC (+10.9%), IB Real Estate (+10.4%)and Welcorp (+10.1%) gained more than 10% in the day. 

Adani Wilmar(+5%) shares climbed to all-time highs.

Markets Ahead

NIFTY has opened the FY23 with a bang! The market has completely recovered from all war-related falls and in fact, bounced back higher.

BANK NIFTY has also touched its highest since 23rd February.

Right now, energy stocks are buzzing. Today’s breakout in this sector may continue to next week. Chemical and fertilizer stocks are also in a revival mode.

See you at The Stock Market Show at 7 PM!