Tag: Reliance share

Today’s Market Summarised

NIFTY opened at 17,519, up by 20 pts. During the morning volatility, Nifty went up till 17,559, but then it moved down slowly to take support at 17,460. Nifty was forming lower lows and lower highs throughout the day. NIFTY ended the day at 17,464, down by 33 pts or 0.19%.

BANK NIFTY opened at 36,457, up by 122 pts. After the initial volatility, the index followed a downtrend channel. The 36,300 level is currently acting as an important range for it. BANK NIFTY ended the day at 36,373, up by 39 pts or 0.11%.

While NIFTY Media (+0.81%) and NIFTY FMCG (+1.2%) moved up,  PSU Bank (-0.77%) and Pharma (-1.7%) closed in the red.

Major Asian markets closed in the red. European markets are trading flat to red..

News Picks

Axis Bank (+1.4%) moved up after announcing the acquisition of Citibank’s Indian consumer retail business for Rs 12,325 crores.

HUL (+1.6%) continued to move up after it decided to hike the price of cleaning & personal care products. FMCG sector saw buying from opening itself and Marico (+2.8%), Godrej CP (+2.6%),  Britannia (+1.8%) and Tata Consumer (+1.5%) also moved up.

Oil stocks IOC (+1.4%), ONGC (+1.1%), OIL (+4.7%), Hind Petro (+1.8%) moved up. BPCL (-0.19%) closed in the red.

Major IT stocks including Coforge (-1.4%), LTI (-2.4%), MindTree (-2.3%), Mphass (-1.5%) and Wipro (-1.4%) moved down.

GAIL (+1.4%) closed in the green after approving the buyback of equity shares at the price of Rs 190 for a total amount of Rs 1082 crores.

HAL (+5.7%) gained well after winning the order for 15 Light Combat Helicopters for Rs 3,887 crores.

Hindalco fell after the company announced a Rs 60,564 crore Capex plan over the next five years. Other metal stocks Hindcopper (+2.1%), JSW Steel (+2.1%), Jindal Steel (+2.5%), NMDC (+2.1%), National Aluminum (+4.2%), Ratnamani (+3.5%) moved up.

HFCL (+7.1%) moved up after getting PLI approval yesterday. 

Markets Ahead

Nifty today hit its highest level above 17,500 after Feb 11. But at the end of the day, it engulfed yesterday’s green candle with a strong red candle. The index is still strong as it managed to close above 17,450, but we may see a gap-filling till 17,300. We will be looking for a daily candle close above 17,500 or below 17,000 in the coming days.

Though Bank Nifty moved down in a channel it closed in slight green, thanks to the opening jump. Bank Nifty has multiple supports at 36,300,100 and 35,950.

Nifty Metal rose 7% in March, the best month since July 2021. Nifty Realty formed a green candle this March after forming red candles for five months.

India VIX lost 20% in March 2022 to mark its worst month since April 2020.

HDFC broke a four-month falling streak.

What a great amazing Financial Year it was! We experienced multiple faces of the stock market, from budget to war, from crude oil rise to interest rate hikes, and so on. We all traded in a high VIX environment and also during huge gap-up and gap-down openings. It was a year of learning opportunities. 

India markets beat all other global markets with the Nifty gaining nearly 19% till today (Compared to the close of March 31, 2021). It is time to analyze our PnL statement, trade setup, etc for next year. We wish you all a great financial year ahead!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets move up after gap-up opening and volatility. 

NIFTY opened at 17,450 with a big gap-up and fell. Eventually, it crossed back up and made a fresh day-high. The index consistently failed to stay above the 17,500 mark and fell slightly near closing. NIFTY ended the day at 17,498, up by 173 pts or 1%.

BANK NIFTY opened at 36,205 and took support. Even with the initial positivity, the index could not even stay above 36,400. After some afternoon consolidation, BANK NIFTY ended the day at 36,334, up by 486 pts or 1.36%.

NIFTY Media (+2.2%), NIFTY Finserv(+1.9%), NIFTY BANK (+1.3%), NIFTY REALTY (+1.5%) and NIFTY AUTO (+1.2%) closed with notable gains. Nifty Metal fell 2.17%.

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

News Picks

Bajaj Finserv (+3.8%) and Bajaj Finance (+3%) closed in the top-gainers of NIFTY 50, touching multi-month highs.

HDFC Life (+3.6%) and ICICI Bank (+2.1%) were among other financial stocks in the top-gainers list.

In fact, HDFC Bank (+1.7%), HDFC (+2%), HDFC Life (+3.6%) and HDFC AMC (+3.3%) saw good gains in the day.

Tata Consumer Products (+3%) said it will be merging Tata Coffee (+9.3%) business with itself. Both stocks moved up.

ONGC (-5.2%) fell sharply after the government sold off a 1.5% stake in the company for around Rs 3,000 crores.

Metal stocks closed among the top-losers of NIFTY 50. Hindalco (-5%), JSW Steel (-4.8%) and Tata Steel (-2%) fell. Along with this, National Aluminium (-3.5%), Jindal Steel (-2.8%) and Vedanta (-2.8%) saw profit booking.

Ukraine Presidential Adviser says Russia will keep some forces near Kyiv to prevent Ukraine from transferring forces East.

Indian Govt approves HFCL (+3.1%), ITI (+2.7%), TEJAS (+5%-UC), for PLI Scheme in Telecom Sector. All stocks moved up.

Dilip Buildcon (+3.5%) moved up after winning order worth Rs 1589 crores, while GR Infra (+3.7%) won 5 new orders worth Rs 5,700 crores 

Auto stocks remained stable and in fact, moved up after the Government made six airbags mandatory in all passenger cars.

Zomato moved up 10% in the day.

Markets Ahead

NIFTY is slowly and steadily moving up after breaking the 17,000 mark on March 17th. The key support for the index has moved up to 17,050, with the 200-day moving average at that level currently.

Reliance is continuing its upward rally and is just 3% away from its all-time high. The stock has gained 20% in 3 weeks. The next stock coming up for a similar trendline breakout looks to be HDFC.

The U.S. has said that Russia is “repositioning” forces near Ukraine’s Capital and not withdrawing. Russia has also said that there is no progress in the talks between Ukraine.

For now, markets look to be stabilising with constant upward moves. Did you catch this move in NIFTY? Let us know in the comments section of marketfeed app!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

NIFTY opened at 17,297, up by 75 points. There were no major moves with Nifty consolidating in a 75-pts range. It is very good to see the Nifty staying strong in the resistance zone around 17,300. NIFTY ended the day at 17,325, up by 103 pts or 0.60%.

BANK NIFTY opened at 35,931, up by 221 pts or 0.62%. Bank Nifty was also in a consolidation mood, but with a little more volatility. 35,670 is currently acting as a major level for the index. BANK NIFTY ended the day at 35,847, up by 136 pts or 0.38%.

Nifty Finserv (+1%), Nifty Pharma (+1.5%), and Nifty Realty (+1%) closed with notable gains. Nifty Media fell 1.2%.

Japan and Hong Kong closed with 1% gains. European markets are currently trading with 1-2% gains.

News Picks

Bharti Airtel (+3%) continued the breakout, gearing close to its 52-week high. Indus Tower (+2.5%) also moved up.

Adani Group portfolio stocks saw buying during the day. Adani Ports (+3.3%), Adani Power (+14%), Adani Wilmar (+8.4%), and ATGL (+1.8%) moved up.

Pharma stocks moved up as the regulator allowed a hike in drug prices. Divis Lab (+3.2%), Cipla (+2.1%), IPCALAB (+6%) and Torrent Pharma (+3%) gained today.

HDFC(+3%) surged after breaking the recently formed downward trendline of last week. 

Hero MotoCorp (-7%) fell sharply on reports of the  I-T Dept finding bogus claims of over Rs 1,000 crore.

Energy related stocks ONGC (-3%), IOC (-1.3%), BPCL (-0.35%), IEX (-2.1%), Coal India (-2.7%) featured in the Nifty 50 Top Losers list.

Max Financial (+5.2%) moved up as CLSA maintains its buy call on the stock

Hotel stocks such as Ind Hotel (+3.7%) and Chalet (+2.1%) moved up with rising demand.

Ultra Cements (+2.6%), ACC (+3.3%),  Ambuja Cements (+3.6%), India Cements (+1.9%), JK Cement (+5.3%), Shree Cements (+1.9%), JK Lakshmi (+7.1%) rose on price hike expectations.

Escorts (-3.5%)  continued the fall as the open offer made by Japan’s Kubota ended yesterday.

Ruchi Soya (+15.8%) rocketed in the morning due to the FPO effect.

PNC Infra (+4.7%) was selected as the lowest bidder for a project worth Rs 1,575 crores.

Fertiliser stocks NFL (+7.8%), RCF (+13%), Fact (+4.8%) and GSFC (+6.4%) closed with good gains.

Markets Ahead

Both Nifty and Bank Nifty consolidated for the day, but volatility was seen in many stocks. Nifty made the highest close in many weeks above 17,300. 

HDFC and HDFC Bank helped the market today, contributing more than 55 pts to the index. The movements in HDFC need to be watched since it is still in a downward trend.

Ukraine and Russia are having negotiation talks today. Not many confirmed updates on this are not available now. Anyway, the news effects of the Russia-Ukraine conflict are cooling off.

China has put its Shanghai city under a two-stage lockdown yesterday and France is reporting the highest daily rise in Covid hospitalisation since February 1.

Nifty 50 rebalancing is scheduled for 31st March. Major changes to other indices will also be done on the same day.

Today’s Market Summarised

Nifty’s 17k and BNF’s 35k save the market today!

NIFTY opened at 17,181, up by 28 pts. Heavyweights such as HDFC Bank, INFY, HDFC started to drag down the index just after the opening. But once again, 17k acted as strong support for Nifty. It was a clear U-turn recovery after 12 pm, powered by Reliance and Bank Nifty. NIFTY ended the day at 17,222, up by 69 pts or 0.40%.

BANK NIFTY opened at 35,488, up by 78 pts. The index fell sharply for the first 30 mins. The 35,000 level was strong enough to protect the index and it bounced back 700+ pts from there. BANK NIFTY ended the day at 35,710, up by 300 pts or 0.85%.

NIFTY IT (-0.35%) and NIFTY PHARMA (-0.33%) closed with a 0.3% cut. Nifty PSU Bank (+1.2%) closed more than 1% up.

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

News Picks

Bharti Airtel (+3.3%) closed as the Nifty 50 top gainer after announcing the acquisition of a 4.7% stake in Indus Tower (+3.3%).

Coal India (+2.7%) is now able to meet 98% projected coal demand of power plants. The stock moved 2.7% up.

From banking stocks, Axis Bank (+2%), ICICI Bank (+1.5%) and SBIN (+1.3%) entered the top gainers list.

Two multiplex chains- Inox (+11.3%) and PVR (+3.3%) moved up after announcing their merger. Investors will get three shares of PVR for every 10 shares of INOX Leisure.

GAIL (+3%) has decided to consider the buyback of its shares on March 31.

Sagar Cements (+1%) opened with a huge gap-up as the board approved the issuance of shares to Premji Invest affiliate.

Escorts (-5.5%) moved down as the open offer made by Japan’s Kubota Corporation to acquire an additional 28.42 percent stake in the company ends today.

Most of the stocks from Nifty IT closed in the red. Coforge (-1.9%), HCL Tech (-1.3%), LTI (-1.8%), Mind Tree (-1.1%) fell more than 1%.

Reliance (+1%) is now just 5% below its 52-week high.

Aster DM(+10.5%) moved up after its plan to invest Rs 500 crore in Tamil Nadu.

Tata Elxsi (+7%) continued the breakout, 18% up in two days. Guj Alkali (+10.7%) hit a fresh 52-week high today.

Markets Ahead

Both Nifty and Bank showed a U-turn recovery today, with 17k and 35k acting as strong supports. Nifty formed a double bottom pattern near 17k and moved up, similar to March 22. But the index is still trading below the recovery trendline of the month.

Reliance stayed strong even during the opening fall of other heavyweights. It has recovered 20% in the last 3 weeks.

According to the latest reports, today’s talks between Russia and Ukraine have made no major breakthrough so far.

The current Fiscal Year is near the end and top investors are changing their stake in portfolio stocks with lakhs of shares exchanging hands. It looks like a time to make our own portfolio analysis!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

Volatile movements throughout the day ends with markets closing slightly in the red.

NIFTY opened at 17,294 with a gap-up and crashed down. It tried to gain back but fell again till near 17,080. A sharp recovery was seen just after 2 PM. NIFTY ended the day at 17,153, down 70 points or 0.40%.

BANK NIFTY opened at 35,709 with a gap-up. The index traded near the 36,500 till near noon. A sharp fall was seen after this followed by a sharp recovery in the last 30 minutes. BANK NIFTY ended the day at 35,410, down 117 points or 0.33%.

NIFTY REALTY (+1.2%) gained the most in the day. NIFTY IT (-1%) fell by 1% while others mostly consolidated.

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

News Picks

Bajaj Auto(+1.97%) closed the day as NIFTY 50’s top-gainer after unveiling its new Electric Vehicle plan.

Titan(-3.61%) fell sharply after JPMorgan said that Titan’s valuation is too high with limited scope upgrades soon. 

Indus Tower(-5%) crashed down with heavy volumes and is now trading near its 52-week low. 

Meanwhile, Concor(+10.99%) had a strong breakout to its highest level since last November and Tata Elxsi(+10.93%) hit an all-time high.

Hotel stocks were buzzing in the day Indian Hotels (+3.9%) near all-time high and LemonTree (+9.8%) and EI Hotel (+7.4%) also gaining.

Atul (+2.4%) approved the buyback of shares at Rs 11,000/share via the open market. The stock gained.

Markets Ahead

NIFTY ended a two-week winning streak by closing in the red. More than half of the stocks in the market moved down this week.

Almost all stocks in BANK NIFTY moved down for the week, while NIFTY METAL gained over 5%.

Reliance is just 6% away from its all-time high levels! If it moves beyond this, we may see the stock single-handedly taking up the market.

Midcaps and Smallcaps have been outperforming when NIFTY is consolidating. This can continue to be a trend going ahead as well. NIFTY will find support at 17,000 and find resistance near 17,400. If it trades between this zone, smaller stocks in the market are set to breakout!

All the best for next week! Make sure that you are searching for some stocks near breakout zones for the upcoming trading sessions!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets end with net consolidation on the weekly expiry.

NIFTY opened at 17,094 with a 150 point gap-down and shot up to find resistance near 17,290 level. Then a sharp fall of 130 points was seen, but 17,150 acted as a super support for the day. NIFTY ended the day at 17,222, down 22 points or 0.13%.

BANK NIFTY opened at 35,633 with a huge 513 pts gap-down. The index traded in the red territory throughout the day, respecting the resistance trendline from yesterday.  BANK NIFTY ended the day at 35,527, down 620 points or 1.72%.

NIFTY MEDIA (+5.9%) rocketed with the help of ZEEL. Nifty Finserv (-1.5%), Nifty IT (+1.2%), Nifty Metal (+1.5%), and Nifty Pharma (+1.1%) closed with more than 1% change.

The Asian markets closed with small weakness. European markets are trading flat to red currently.

News Picks

Dr Reddy’s (+4.8%) joined other pharma stocks with a good comeback rally. Cipla (+1.4%) also closed in the top-gainers of the day.

Auropharma (+4.1%), APL Ltd (+3.8%), Lupin (+3.7%) and Glenmark (+2.2%) were other pharma stocks that moved up.

Coal India(+2.38%) and NMDC (+3.9%) moved up after news that they are likely to join hands to acquire mineral assets overseas.

Hindalco (+2.2%), Tata Steel (+1.4%), JSW Steel (+1.5%) helped Metal index move up again

Financials including HDFC Bank (-2.7%), ICICI Bank (-1.9%), HDFC (-1.5%) dragged Nifty down from day high for the second day in a row.

ZEEL(+16.7%) shot up after major investor Investco decided to drop the current case against the company.

L&T Finance (-8.2%) saw profit booking after yesterday’s rally. Sister companies LTI (+1.7%) and LTTS (+2.8%) moved up. 

Markets Ahead

A calm weekly expiry for the second last week of the month!

NIFTY is steadily trying to move up with the silent power of Reliance. The stock is up more than 4% in the last 4 days.

Bank Nifty is perfectly respecting the resistance trendline from yesterday. You can watch out for this line along with a major resistance zone near 36,000.

Uncertainty continues in Russia-Ukraine conflict, but for now, things are looking okay. G7 has warned Russia against the use of chemical and nuclear weapons, but things are not escalating for now.

So tomorrow being the last day of the week, please keep an eye on Reliance and NIFTY. The green global markets are currently indicating a gap-up tomorrow!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Bulls fail to sustain the gap-up opening for the day.

NIFTY opened at 17,414 with a gap-up moved down. It kept on falling throughout the day but took support at 17,200. After some volatile afternoon moves, NIFTY ended the day at 17,245, down 70 points or 0.40%.

BANK NIFTY opened at 36,630 with a nearly 300 point gap-up. It tried to move up further and hit the highest level since 23rd February. This was not sustained and the index saw profit booking till the 36k mark. BANK NIFTY ended the day at 36,147, down 201 points or 0.55%.

NIFTY METAL (+1.2%) closed with more than 1% gains while NIFTY AUTO (-1%) fell by a similar number. Other indices are mostly consolidated.

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

News Picks

Hindalco (+2.5%), Tata Steel (+2.2%) and JSW Steel (+1.1%) featured in the top-gainers of NIFTY 50 with metals stocks showing strength.

SAIL (+3.6%), Jindal Steel (+3.5%) and Vedanta (+1.1%) also gained from the sector. There was positivity after the Chinese steelmaking hub went into lockdown, which could increase demand for Indian steel.

Dr Reddy (+.4%) and Divis Lab (+2.3%) led the gains for Pharma stocks in the day. Alkem (+2.7%), Strides Pharma (+2.7%) and Torrent Pharma (+2.4%) were among other gainers from the sector.

Financial stocks took a back seat with HDFC (-2.3%) and Kotak Bank (-2.1%) closing as the top-losers in NIFTY 50. 

Intellect Design Arena (+2.3%) gained after winning a major order from a private Qatar Bank.

HeroMoto Corp (-1.2%) fell after raids by the Income Tax Department at offices and residences of senior management including Chairman Pawan Munjal.

ZEEL (+3%) shares gained back from yesterday’s fall after the company said its awaiting detailed order from the Bombay High Court in the Invesco case.

L&T Finance (+16.1%) shot up in the day after parent company L&T bought 1.4 crore shares from the open market.

Markets Ahead

Markets opened with a gap-up in the day and saw weakness. Interestingly, all Asian markets were showing good gains, with Japan even 3% up.

Still, our markets saw weakness in the day. Yesterday, Foreign Institutional Investors saw net buying of nearly Rs 380 crores. I am looking forward to see whether they continue the trend.

Even though financials showed weakness, IT stocks and Reliance remained flat even as the general market fell. Metals are also starting to show strength again, so keep your eye out for stocks from that sector!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Surprise rally pushes the market to green from red.

NIFTY opened at 17,132 and started moving down. It took perfect support at the 17k mark and bounced up. Just after noon, it shot up with huge strength as institutional buying kicked in. With a big rally, NIFTY ended the day at 17,315, up 198 points or 1.16%.

BANK NIFTY opened at 36,012 and fell more than 600 points. Similar to the rest of the market, buying kicked in the afternoon and the index shot up 1,000 points. BANK NIFTY ended the day at 36,348, up by 330 points or 0.92%.

NIFTY IT and NIFTY AUTO gave good moves in the day. NIFTY REALTY moved down.

The Asian markets closed mixed today. European markets are trading in the green now.

News Picks

Strong results from tech U.S. listed Accenture gave bullishness to our IT stocks. TechM, TCS closed in the top-gainers of NIFTY 50.

Mphasis, LTI, Infosys and Wipro also moved up.

As petrol and diesel prices were hiked for the first time in 137 days, oil marketing companies BPCL and IOC closed with gains. Hindustan Petroleum and Reliance also moved up.

Chalet, Mahindra Resorts gained from the hospitality sector.

Hindustan Unilever, Nestle India and Britannia featured in the top-losers of NIFTY 50. Meanwhile, ITC closed at a 5-month high.

Graphite and HEG rallied after the recent metal sector move.

ZEEL fell after Bombay HC allowed its largest investor – Invesco to appeal against a previous order related to removing CEO Punit Goenka.

Ratnamani gave a breakout to fresh all-time highs after winning a pipeline deal yesterday.

Markets Ahead

Today’s gains in NIFTY were led by our very own Reliance. The stock contributed 36 points to NIFTY 50 today, after we discussed it was looking strong yesterday.

And what a clean trendline breakout in NIFTY, right? If you were following the 5-minute chart of NIFTY from yesterday, today’s breakout was clean and powerful. I am hoping that we can get to see strong institutional buying that indicates support at the 17,000 zone.

Anyway, a volatile start to the week! NIFTY is still trading below the high of Thursday and yesterday. U.S. Futures are also in the green. A gap-up above this zone will be really good for the market!

Keep an eye out on IT stocks. They look to be consolidating in the middle of the recovery rally!

How did your day go? Are any specific stocks on your radar for the coming week?

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets move down for the first day of the week

NIFTY opened at 17,330 and was very volatile. It tried to take support at the purple zone but after some time it changed to a resistance zone. After a tough afternoon fall, NIFTY ended the day at 17,117, down 169 points or 0.98%.

BANK NIFTY opened at 36,573 and quickly broke the previous day’s low. This was not taken back easily and the index fell even below the 36k mark afternoon. BANK NIFTY ended the day at 36,018, down by 410 points or 1.13%.

NIFTY Metal closed well in the green today. Nifty FMCG(-1.7%), Nifty Auto(-1.2%), Nifty PSU Bank(-1.2%), and Nifty Finserv(-1.1%) are the underperformers.

The Asian markets closed mixed today. European markets are trading in the green now.

News Picks

Coal India(+3.26%) gained in the day along with some other energy stocks. The stock gained after the Coal Minister said they have no plans to raise royalty.

Hindalco(+2.28%) moved up and closed in the top-gainers of NIFTY 50 as aluminium prices increased again worldwide. National Aluminium(+5.18%) also moved up.

Other metal stocks including Vedanta(+5.71%), Welcorp(+4.06%) and Jindal Steel(+2.19%) also moved up.

FMCG stocks fell after concerns of inflation and upcoming price hikes in the sector. Britannia, Tata Consumer and Hindustan Unilever fell 2-3%.

GAIL(-4.63%) dropped 7 points after factoring in the Rs 5/share dividend. BSE shares priced halved after the record date of 2:1 bonus issue.

Indigo(-4.38%) share prices crashed after domestic airline data indicated a fall in market share from 55% in January to 51% in February.

Valiant Organics closed in the 20% Upper Circuit with high volume buying.

Markets Ahead

The market situation currently looks good with NIFTY in a consolidating mood. Even the 1% fall today keeps the index about the 200-Day Moving Average and the 17,000 mark.

The crude oil moving up to a 10-day high has a negative impact on the market. Crude Oil now trades at over $109/barrel.

Reliance is trading comfortably above the trendline and might give more moves soon. Looked strong today as well.

BANK NIFTY has also barely closed above the 36k mark. The bigger support now looks to be 35,500 for BANK NIFTY and the 16,950 mark for NIFTY.

How did your Monday go after the 3-day weekend? Let us know in the comments below!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets open with a huge gap-up then continue rally ahead of the 3-day weekend.

NIFTY opened with a huge gap-up at 17,203 and moved up steadily. The resistance at 17,350 pushed the index lower towards the close but NIFTY managed to stay above 17,250. NIFTY ended the day at 17,287, up 312 points or 1.84%.

BANK NIFTY opened at 36,316. But it was a surprising consolidation within a range of 300 points. 36,600 offered a good resistance to the index. BANK NIFTY ended the day at 36,429, up by 680 points or 1.90%.

All sectoral indices closed in the green except for IT. NIFTY Realty, NIFTY Finserv and NIFTY Auto closed with gains of 2-3%.

The Asian markets closed in the green today. European markets are trading in the red now.

News Picks

HDFC (+5.3%) shined in the day and closed in the top-gainers of NIFTY 50. The stock has recovered back into its support zone from last year.

Titan (+4.4%) shares hit an all-time high as analysts expected margins of the company to rise with increasing gold prices.

Steel stocks closed with gains in NIFTY 50. JSW Steel (+4.5%), Tata Steel (+3%) and Jindal Steel (+2.5%) led gains from the sector.

Infosys (-1.8%) saw heavy selling towards the end and closed as NIFTY’s top-loser.

Greaves Cotton is 8% up. Yesterday Bounce Infinity announced they would provide a battery-swapping station to the company.

Trent (+7.7%) shot up to all-time highs in hopes of strong earnings.

Angel One (+14.2%), KEI (+12.6%), IFB Industries (+13.2%) and Hemisphere Properties (+8%) shot up in the day.

Realty stocks including Prestige (+5%), Lodha (+5%) and Godrej Properties (+4.5%) gave breakouts. Brigade (+10.4%) also shot up.

Markets Ahead

The Fed rate hike of 25 basis points was in line with the expectation. Jerome Powell said that it will take time for inflation to be back to the target level of 2%. However, he added that inflation will fall in the second half of the year.

There was positivity already from optimism shared in the peace talks. As a result, global markets shot up and this led to the huge gap-up and the up-move that followed.

Nifty is now above the 200 Day-Moving Average line. And more importantly, the psychological level of 17,000 has been crossed. This gives hope to the investors. 

At the same time, we saw that JP Morgan downgraded India from neutral to underweight citing lower GDP growth estimates and high inflation.

As we discussed yesterday, Reliance tested the trendline and gave a fine breakout. The stock moved up by more than 3% today. 

Our markets are set for a 3-day weekend. So make sure you are chilling for the weekend while also checking out some stocks! Happy Holi!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets move up, reversing from yesterday’s fall.

NIFTY opened at 16,856 with a gap-up and jumped. Till about 3 PM, the market was really boring. The index was trading in a 100-point zone but gave a breakout after this. NIFTY ended the day at 16,975, up 312 points or 1.87%.

BANK NIFTY opened at 35,461 and shot up. Resistance was found at 35,800 multiple times in the day. Consolidation was seen in a 300 point zone. BANK NIFTY ended the day at 35,748, up by 725 points or 2.07%.

All sectoral indices closed in the green. NIFTY Realty, NIFTY Metal and NIFTY Auto outperformed.

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

News Picks

Cement stocks shot up as international crude oil prices fell to 3-week lows. UltraTech Cements(+4.73%), ShreeCements(+3.49%) closed in the top-gainers of NIFTY 50.

Ambuja Cement(+4.83%), Sagar Cements(+10%), JK Cement(+8%) and others also moved up.

Voltas(+4.85%) and Havells(+5%) gained as the summer season usually sees an increase in AC sales.

Paper stocks gave breakouts and continued their rallies. JK Paper(+9.9%) led the move.

The government is planning a listing of 2 PSU Insurance companies. Already listed NIACL(+8.76%) and GICRE(7%) moved up.

Shyam Metalics is 4.5% up after the company approved a capital expenditure of Rs 990 crore to expand its facilities.

Markets Ahead

Russia’s gas company said that they are continuing to ship gas to Europe via Ukraine. This was taken well by the market. The country’s Foreign Minister also said that peace talks with Ukraine aren’t easy, but there is hope for compromise.

After India bought Russian crude oil, the U.S. has said that New Delhi now stands on the ‘wrong side of history’ even though sanctions won’t be violated.

The important resistance that we discussed yesterday for NIFTY was at 17,000. This was almost once tested towards the closing time today. 

If you look at today’s high, it was exactly at the 200-day moving average mark of NIFTY 50. If this level is broken tomorrow, we can definitely expect more moves.

Reliance is also near a breakout zone, so keep a watch on the stock! Tomorrow is the weekly expiry, so keep volatility in mind when trading!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Our markets close in red in reaction to other global markets falling.

NIFTY opened slightly higher at 16,900 and moved down. Profit booking pulled down the market from its highest level since the fall of the Russia war news. There was bearishness throughout the day and NIFTY ended at 16,663, down 208 points or 1.23%.

BANK NIFTY opened at 35,487 and consolidated in a 400-point zone. Towards the afternoon, the index crashed down nearly 950 points from the day-high. BANK NIFTY ended the day at 35,022, down by 289 points or 0.82%.

NIFTY IT (-2.5%), NIFTY Metal (-4%) and NIFTY Media (-2.3%) fell the most. NIFTY Auto (+0.57%) closed slightly in the green.

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

News Picks

FMCG stocks stood their ground and closed among the top-gainers of NIFTY 50. Tata Consumer (+3.6%) and Britannia (+1.1%) moved up while Dabur (+2.9%) and VBL (+2.8%) followed.

Cipla (+1.8%) continued its rally to fresh all-time highs.

Hindalco (-5.2%), Tata Steel (-4.8%), JSW Steel (-3.5%) closed in the red with heavy profit booking. ONGC (-4.6%), Coal India (-4.1%) and BPCL (-2.6%) also fell.

Auto stocks closed with strength after many received approvals under the PLI scheme. Maruti (+1.4%) and M&M (+2.4%) closed among the top-gainers.

As the tech-heavy NASDAQ fell yesterday, our IT stocks followed. Mindtree (-5.8%), Coforge (-5.1%), LTTS (-4.3%), TechM (-2.9%) and Infosys (-2.7%) were the top losers from NIFTY IT.

As RBI removed pricing caps for microfinance lenders, a surge in stock prices were seen. Bandhan Bank (+6.1%), AU Bank (+4.3%), Indiabulls Housing (+3.9%) closed with gains.

Maharashtra Registrar of Companies approves Ruchi Soya’s (+13.1%) FPO RHP (Red Herring Prospectus). The stock is up 35% in 2 days.

Markets Ahead

Markets around the world continue to be affected by the news. Ukrainian Presidential Advisor has said that Russian forces are not currently trying to take Kyiv, but there will either be an agreement at the negotiations or Russia will go on the offensive.

Currently, forces by NATO are deployed in the neighbouring country of Poland. Any use of weapons of mass destruction on Ukraine, chemical or atomic, could threaten a big war across Europe.

If technicals are to be looked at, the current important resistance for NIFTY is at 17,000. The 200-day moving average is also around that zone. There is support for the index around 17,480. Continue to expect high volatility in the coming days.

India VIX is at a 4-day high, but do keep a watch on stocks that are showing strength during this uncertainty like Linde India.

See you on The Stock Market Show at 7 PM!