Tag: Reliance share

Today’s Market Summarised

Markets shoot up again as worldwide recovery continues in various assets.

NIFTY opened flat at 16,651 and moved sideways. Around 11 AM, Friday’s high was broken and the entire market turned bullish. With non-stop strength till the closing time, NIFTY ended the day at 16,871, up 240 points or 1.45%.

BANK NIFTY opened at 34,733 with a gap-up. Strength was contributed by HDFC Bank, which got a boost from the RBI lifting restrictions on it. The index easily crossed the 35k mark and moved up. BANK NIFTY ended the day at 35,312, up by 765 points or 2.22%.

NIFTY Media (+2.4%), NIFTY Bank (+2.2%) and NIFTY Finserv (+2.1%) performed the best in the day. NIFTY Realty (-1.7%) fell sharply.

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

News Picks

Infosys (+3.7%) continued its comeback rally and closed as the top-gainer in NIFTY. The stock is just 3% away from its all-time highs.

HDFC Bank (+3.2%) shot up after RBI lifted all restrictions on its digital operations. HDFC (+2%) also gained.

SBI (+3.1%), ICICI Bank (+2.7%) and Axis Bank (+2.7%) also gained.

Energy-related stocks fell back down as hopes of a peace treaty in Ukraine. IOC (-2.3%), ONGC (-2.2%), Coal India (-0.77%) and BPCL (-0.65%) closed slightly in the red. Hindustan Petroleum (-5.1%) and IEX (-2.5%) also corrected.

AU Bank (-6%) crashed intraday with heavy volumes. The stock fell even as brokerages remained bullish.

Jubilant Foodworks (-12.2%) crashed into a 52-week low as CEO Pratik Pota resigned from the company.

The Income Tax department conducts searches against Omaxe Builders (-2.5%).

Paytm (-12.9%) shares crash down after RBI orders IT audit and stops adding of new clients to Payments Bank.

Markets Ahead

The fourth round of Ukraine-Russia talks is underway. Demands of ‘immediate’ ceasefire and withdrawal of Russian troops are being raised.

In India, the Wholesale Price inflation for March shows a YoY increase of 13.1%, much higher than the estimate of 12.10%. Hindustan Unilever and other FMCG brands have increased their product prices today, and that too will be a big negative.

But currently, there is euphoria in the market with hopes that the peace talks work. NIFTY has meanwhile crossed its 200-day exponential moving average and shot up.

By tonight, we can confirm if there is any good news from Ukraine. Let’s hope the bullishness continues!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets hold gains from yesterday as smaller companies lead the rally.

NIFTY opened at 16,536 with a small gap-down and shot up. The index was in a mood to consolidate the whole day. It traded between the high and low of yesterday. NIFTY ended the day at 16,630, up 35 points or 0.21%.

BANK NIFTY opened at 34,283 and moved up. It traded between the 34k and 35k levels in the day. Just like NIFTY, the index of banks was also in a mood to consolidate today. BANK NIFTY closed at 34,546, up by 70 points or 0.2%.

NIFTY Pharma (+2.4%) was the only sector to outperform today. Most others consolidated.

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

News Picks

Pharma stocks closed in the top-gainers of NIFTY with strong moves. Cipla (+5.7%)and SunPharma (+3.7%) hit 52-week highs. Dr Reddy (+3.1%), Granules (+5.3%), Laurus Labs (+4.3%) and others also gained.

FMCG companies including Nestle India (-1.8%) and Tata Consumer (-1%) saw slight profit booking. ITC (+1.8%) still closed with good gains.

Titan(+1%) gained after picking up a 17.5% stake in lab-grown diamond maker Great Heights from the USA, for an estimated $20 million(Rs 150 crore).

Hindustan Petroleum (+5.4%), BPCL (+3.7%), GAIL (+3.7%), IOC (+2.2%)  and others gained in the day with the price hikes coming soon.

BSE (+3.7%), MCX (+4.54%) and CDSL (+2.5%) continued their rally.

Chemical stocks gave breakouts in the day. GNFC (+12.4%), RCF (+6.6%), FACT (+9.6%) and GSFC (+6.2%) were among the trainers from NIFTY 500. 

Sugar stocks Balrampur Chini (+8.4%), Dwarikesh (+8.8%), Shree Renuka (+6.8%) and others gave a jump.

Markets Ahead

NIFTY is choosing to consolidate in the zone between 16,500 and 16,800 currently. It has currently taken resistance around this upper level after breaking a 4-week losing streak.

Even as NIFTY recovered, the midcap and smallcap stocks gave even better moves. IT and Pharma are seeing money pumped into it while Metals are taking a temporary break.

Markets’ current biggest enemy looks to be inflation, as the fears of war reduce. The next action from Europe is also keenly watched, as weekends have been volatile the previous weekends. 

There are multiple sectors currently showing strength. As an example, we can take chemicals and sugars that we discussed above. Value stocks are being picked up despite the larger market consolidating. 

Identifying strong stocks even in a week market environment is key. Make sure you do the same!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

The market opens with a huge gap-up followed by an afternoon fall.

NIFTY opened at 16,757 with a gap-up of more than 400 points! However, this was the day-high and the index failed to move above it afterwards. There was a fall in the market after 1:30 PM, and NIFTY ended the day at 16,594, up 249 points or 1.53%.

BANK NIFTY opened at 34,952 with an 1100 point gap-up. The bank index again tried to move to the highest since 3rd March but did not get support from the rest of the market. The afternoon fall pulled down the index and BANK NIFTY closed at 34,475, up by 660 points or 1.95%.

All sectors except NIFTY IT (-0.12%) and NIFTY Pharma (+0.14%) closed well in the green. NIFTY FMCG (+3%), NIFTY PSU Bank (+2.3%), NIFTY REALTY (+2.2%) and NIFTY Metal (+2.2%) gained the most.

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

News Picks

Hindustan Unilever  (+5.2%), Tata Consumer (+3.5%), Britannia (+3.1%) closed in the gainers of NIFTY 50. FMCG stocks closed well in green after recovery.

Radico (+7.2%), PGHH (+5.3%), Mc-Dowell (+3.6%) and Dabur (+3.3%) also closed in green from the FMCG sector.

Coal India (-4.1%) saw profit booking in the day and closed in the top-losers of NIFTY 50. Other stocks which rallied earlier including GAIL (-4.5%), GujGas (-4.4%) and OIL (-3.3%) moved down.

BSE (+18.6%) rallied and closed near its Upper Circuit today. Other market-linked stocks including MCX (+5.2%), CDSL (+7.7%) and CAMS (+1.1%) also moved up.

Jindal Steel’s (+4%) steel sales increased by 8% (YoY) to 5.90 lakh tonnes in February. The stock along with Tata Steel (+4.2%), JSW Steel (+3.7%) and others moved up.

BGR Energy (+10%) closed in the upper circuit after winning large orders worth Rs 4,400 crores. It has a market cap of Rs 600 crores.

Markets Ahead

Our markets opened with a huge gap-up today. This was following the European markets rallying 5-8% yesterday. 

There seems to be a lot of happiness in the market currently. But today, the European markets have moved slightly back down. Anyway, 16,000 looks like a good support now for the market in the coming days. 

Standard&Poors said they expect the Indian economy to grow 9.5% in FY22 and 7.8% in FY23. This has also brought back some confidence to investors.

Reliance once again gained back and helped push the NIFTY up. Hindustan Unilever is bouncing back from the demand zone created around the Covid-crash and may see more strength in the coming days.

Do not forget that the conflict in Ukraine is not completely done. There is no ceasefire yet. But markets have factored all that in currently. Crude oil prices have cooled back down to near $110/barrel. If no further escalations are seen, we may get to see this gradual recovery continuing throughout the next week.

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

NIFTY recovers along with other global indices as Ukraine says no longer insisting on NATO membership.

NIFTY opened at 16,078 with a small gap-up. After some initial volatility, the index started moving up and up. Resistance was found at 16,300  and then again at 16,400 near last Friday’s high. NIFTY ended the day at 16,345, up 331 points or 2.07%.

BANK NIFTY opened at 33,259 and took support at the 33k mark. The index had a strong day in the market along with other sectors. It kept on rallying till the closing time when it tested the 34k level. Bank Nifty closed at 33,815, up by 657 points or 1.98%.

For the second day, all sectoral indices except NIFTY METAL (-0.34%) closed in green today. NIFTY Realty (+3.05%), NIFTY Auto (+2.5%), NIFTY Media (+4%) gained back the most.

Asian markets closed mixed for the day. European markets are trading in massive greens currently, with the German index trading 5% up.

News Picks

Stocks like Asian Paints (+5.5%), Reliance (+5.3%), Bajaj Finance (+5%) and M&M (+4.8%) featured in the top-gainers of NIFTY 50 with a comeback rally.

ONGC (-2%) and PowerGrid (-2%) saw profit booking for the second straight day as the rest of the market recovered.

Auto stocks gained back led by Ashok Leyland (+7.5%), M&M (+4.8%), Maruti (+3.2%) and Tata Motors (+3.6%).

RateGain Travel Technologies (+6.6%) gained after American travel shopping company Expedia selected it as a preferred connectivity partner.

India plans to resume regular international flight operations by the end of March. SpiceJet (+5.9%) and Indigo (+6.9%) moved up.

Markets Ahead

NIFTY has recovered after closing above the 16k mark yesterday. Out of today’s 300+ points rally in the index, nearly 90 points was contributed by Reliance alone.

Reliance is going all out to make the most in the current crude oil shortage. They are planning to push back planned maintenance to serve extra diesel demand. 

Also, the review meeting on oil prices is going on in New Delhi. We may get a petrol price hike soon, but it would be great if taxes are reduced to match with this.

Mutual Funds data for the month of x has been published. There has been a net inflow of nearly Rs 19,705 crores to equity mutual funds, but this may be boosted due to tax-saving Mutual Funds near the end of the financial year.

Continue to invest in a staggered manner to take advantage of this market fall, also while safeguarding your capital.

Let me know your investment strategy in the comments down below!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

 Market closes in green after 3 days of consecutive fall!

NIFTY opened at 15,755 with another gap-down. The index tried to move up early on but fell to a fresh day-low towards noon. Once the European markets opened in the green, our markets also found strength and moved up. NIFTY ended the day at 16,013, up 150 points or 0.93%

BANK NIFTY opened at 32,560 with a gap-down. The index broke yesterday’s low but bounced back before touching the 32k mark. A 1,000-point rally was seen after 1:30 PM. Bank Nifty closed at 33,158, up by 286 points or 0.87%.

All sectoral indices except NIFTY METAL (-1.4%) closed in green today. NIFTY Realty (+3.2%), NIFTY PSU Bank (+2.5%), NIFTY MEDIA (+2.7%) and NIFTY IT (+2.6%) gained the most.

Major Asian markets closed in the red today. European markets are trading in the green currently, with just U.K. trading flat.

News Picks

IOC (+4.2%) closed as the top-gainer in NIFTY 50 today. The company has tied up with Adani Ports (+1.6%) to expand crude volume at Mundra Port.

As the rupee weakened against the dollar, Pharma and IT companies moved up. SunPharma (+3.9%), Cipla (+3%), TCS (+3.3%), Wipro (+2.7%), TechM (+2.6%) and Dr Reddy (+2.6%) gained.

The stocks which gained in the last many days including Hindalco (-4.8%), Tata Steel (-1.7%), ONGC (-4.2%), JSW Steel (-1.1%) and UPL (-1%) saw profit booking.

With International gas prices increasing, shares of IGL (+9.6%) , MGL (+6.7%) and GujGas (+5.1%) moved up.

LemonTree (+7.4%) gave a breakout to a 4-month high with institutional buying.

Markets Ahead

Markets were down for the majority part of the day. Just after noon, Dow Jones Futures was down 360 points before reversing and gaining 500 points. European markets also opened in green.

Currently, things are looking similar in Europe. The UK said they would support Poland if it chooses to provide fighter jets to Ukraine. Meanwhile, Russia declared a ‘silence regime’ in Ukraine from 10 AM and opened humanitarian corridors from Kyiv giving hope of negotiations.

NIFTY closing above 16,000 is giving confidence to the entire market. A comeback rally may be in the works if international tensions subside. IT and Pharma indices are showing huge strength as value of rupee continue to fall.

What do you think of a comeback rally in the markets? Let me know in the comments down below!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Another day of heavy fall in the market as crude oil shocks pulls down the market.

NIFTY opened at 15,867 with a major gap-down and crashed down. There was a glitch in the National Stock Exchange in the morning and price data was not getting updated. There was volatility throughout the day. NIFTY closed the day at 15,863, down 382 points of 2.35%.

BANK NIFTY opened at 33,250 with a gap-down and crashed down.  The level of 33,000 was broken early in the day and the index tried to gain back. But towards 2:30 PM, it again crashed. Bank Nifty closed at 32,871, down by 1536 points or 4.47%.

NIFTY REALTY (-5.4%), NIFTY BANK (-4.4%), NIFTY AUTO (-4.2%), NIFTY FINSERV (-4.2%) and NIFTY PSU BANK (-4.5%) fell more than 4% each. Only NIFTY METAL (+2.1%) stayed in the green. 

All Asian and European markets are trading in the red.

News Picks

The major news of the day is obviously crude oil prices shooting up and the morning glitch in NSE.

Commodity-based stocks outperformed in the day with ONGC (+13.3%) shooting up. Hindalco (+6.1%), Coal India (+4.2%), Tata Steel (+1.1%) and JSW Steel (+0.82%) closed in the top-gainers of the day.

GAIL (+4%), Vedanta (+3.7%), National Aluminium (+3.5%), NMDC (+3.3%) also gained from the energy and commodities space.

IT and Pharma stocks stayed relatively stable as they are mostly unaffected by changes in crude oil prices and rupee depreciation. Infosys (+0.96%), HCL Tech (+1.3%) and Cipla (+1%) even closed with decent gains.

Airtel (+3.3%) moved up after news of the Telecom Ministry returning up to Rs 8,000 crores of bank guarantees by the company. However, Vodafone Idea (-7.7%) fell despite news of getting a much higher amount.

Financials featured heavily in the top-losers of NIFTY. IndusInd Bank (-7.4%), Axis Bank (-6.6%), Bajaj Finserv (-6.2%), Bajaj Finance (-6.3%) and ICICI Bank (-5%) crashed down.

Auto stocks fell on the fear that increasing crude oil prices will affect sales. Maruti (-6.6%), M&M (-5.7%) and Tata Motors (-5.5%) fell heavily.

Cement and construction stocks also fell in trade in fear of lower demand. JK Cement (-11.4%), Dalmia Bharat (-5.2%), Ultratech Cement (-5.8%) & Ramco Cements (-4.6%) hit fresh 52-week lows. However, Europe is facing building material shortages as energy prices climb. 

Markets Ahead

Markets are surely in a panic mode after the events of the weekend. Financials and construction along with Auto were the most affected by the rise in crude oil prices.

Dow Jones Index Futures have fallen 1.6%. The market internationally is also reacting but not as much as us. We are heavily reliant on crude as an economy and this has caused our market to fall.

Nickel has gained 20% in London. Other commodities like European natural gas has jumped 17%. Gas Futures have gone above 300 Euros for the first time.

The market looks highly unstable now! So the best trade in the market now is no trade!

Did you get trapped in the NSE Glitch today? Let me know in the comments down below!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Market falls to its lowest level since early August after news of Russian troops shelling Europe’s largest nuclear power station in Ukraine.

NIFTY opened at 16,362 with a gap-down and crashed down. By 11 AM, the index fell to its lowest level since August. In the volatile situation, it bounced back up more than 300 points before crashing down again. NIFTY closed the day at 16,245, down 252 points of 1.53%.

BANK NIFTY opened at 34,547 with a gap-down and crashed down. It tested the level of 34,100 and then surprisingly rallied back up 1,000 points. The index fell back down after this rally, and Bank Nifty closed at 34,407, down by 536 points or 1.54%.

NIFTY AUTO (-3.5%), NIFTY METAL (-3.2%), NIFTY MEDIA (-2.8%) and NIFTY Realty (-2.9%) crashed down in the day. Only NIFTY IT (+0.14%) closed slightly in the green.

Asian markets closed sharply in the red. European markets have also crashed 2-3% currently.

News Picks

Dr Reddy (+2.9%) bounced back up after its recent crash and closed in the top-gainers of NIFTY 50. ITC (+2.7%) also continued its breakout from yesterday.

Titan (-5.1%) closed as the top-loser in NIFTY 50 after taking resistance from its 52-week high. Asian Paints (-4.6%) and auto stocks including Maruti (-4.5%), Tata Motors (-4.5%) and Hero MotoCorp (-4.3%) continued their crash back down.

Metal stocks saw a correction with Vedanta (-5.7%), Hindustan Zinc (-5.6%), National Aluminium (-4.8%) and Hindalco (-3.7%) falling the most.

PM Modi says ethanol blending has been prioritised in mission mode, we need to further modernise our sugar mills & distilleries.

Tata Power (-2.2%) said that domestic coal availability remains robust. India does not import much Russian coal.

Markets Ahead

Bank of Russia said that their stock markets will be closed from today till March 8th. They have also captured the Zaporizhzhia Nuclear Power plant site with fresh attacks

US Futures are down 4% from highs. This situation looks like the next escalation in our current scenario.

Markets have fallen for the 4th straight week and are at their longest losing streak in the last 2 years. BANK NIFTY fell 6% this week with the biggest weekly fall in 18 months.

Over the weekend, let’s see what the situation continues to be. Superpower countries are calling on fresh sanctions against Russia as the world looks on. And markets surely do not like such new moves!

Do you have any short positions open in the market? Let us know in the comments down below!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Market falls for the second straight day as financial stocks continue bearishness.

NIFTY opened at 16,723 with a gap-up of more than 100 points. After falling immediately, the index consolidated around yesterday’s closing level before falling again. NIFTY traded within the levels of Monday’s high and low and closed the day at 16,498, down 107 points of 0.65%.

BANK NIFTY opened at 35,683 with a gap-up and crashed down. It tried to take support and move back up multiple times, but these were half-hearted attempts. The index eventually crashed 1,000 points from its day-high before slightly recovering. Bank Nifty closed at 34,944, down by 428 points or 1.21%.

NIFTY IT (+1.2%) and NIFTY Metal (+1.2%) closed with gains of more than 1%. NIFTY Auto (-2.2%), Bank (-1.2%) and Finserv (-1.1%) fell again for the second day.

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

News Picks

ONGC (+4.5%) closed as the top-gainer in NIFTY 50 with energy stocks once again performing. Crude oil prices have hit an 8-year high.

Other energy stocks PowerGrid (+3.3%), Coal India (+2.2%) and IOC (+2.1%) were among the other gainers. Reliance (-0.84%) closed in red for the day while GAIL (+4.2%), Hindustan Petroleum (+4.5%) and Suppetro (+10.1%) moved up.

UPL (+3.5%) shot up in the day after approving a Rs 1,100 crores buyback. There was also a report that global players are interested in a takeover of the company.

Lower demand and steep increases in fuel prices are affecting cement stocks. UltraTech Cement (-6.5%), Shree Cement (-4.6%), Ambuja Cement (-4.5%), Ramco Cement (-5.9%) and ACC (-5.4%) crashed down. 

Paint stocks were also affected with Asian Paint (-5.1%) leading to the fall.

Vodafone Idea (+6.2%) moved up as the board is assessing the proposal to raise funds today.

Sugar stocks moved up in the day as the industry looks to ramp up ethanol production. The added capacity is going to be used to compensate for the high prices of crude due to the Ukraine crisis.

Shipping Corporation (+16.7%) and Power India (+12.7%) gave breakout moves in the day.

Bombay Dyeing (+4.2%) moved up with plans to demerge its real estate arm and list it separately on the exchanges. 

HDFC Life (-5.1%), SBI Life (-3.5%) and ICICI Prudential Life (-4.6%) fell and lost gains after yesterday’s rally.

Markets Ahead

The first weekly expiry of March was surely exciting! NIFTY and Bank Nifty giving clear directional moves would have been a good thing for all traders.

Markets are already seeing pressure from the increasing crude oil prices. Stocks from paints to cement and engineering are moving down. But this is the normal working of the market. You can see that on the other side, we have metal stocks continuing their rally.

If we look at the options data for next week, NIFTY has good support at the 16,000 zone. The open contracts indicate that smart money expects markets to trade between 16k and 17k with a consolidation around 16,500 levels.

As we can see from past data from wars, the market may start moving back up soon if no fresh triggers come. Germany is increasing its supply of weapons into Ukraine with the first arms delivery of 1,000 anti-tank and another 500 anti-aircraft missiles. This may brew up political pressure, but we never know how crazy leaders will react!

Right now, the market looks like it is ready to consolidate unless significant news comes out. What do you think of this situation? 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 open lower and trade with weakness.

NIFTY opened with a big gap-down once again at 16,613 and tried to move up. Resistance was found at 16,680 and a correction pulled the index down nearly 200 points. Even with some last hour strength, NIFTY closed the day at 16,605, down 188 points of 1.12%.

BANK NIFTY opened at 35,553 with a gap-down and crashed down. The index tried to break the 35k mark and move down but somehow found support from a 2-month low. With a jump of more than 500 points in 20 minutes, Bank Nifty closed at 35,372, down by 832 points or 2.32%.

NIFTY METAL (+4%) once again saw heavy buying for the day. NIFTY Auto (-2.9%), Bank (-2.3%) and Finserv (-2.2%) fell the most in the day.

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

News Picks

Metal stocks continued to outperform the market. Tata Steel (+5.6%), Hindalco (+4.5%) and JSW Steel (+2.7%) closed in the top-gainers of NIFTY 50.

Energy stocks Coal India (+9%), Reliance (+1.6%) and ONGC (+1.4%) shot up today. GAIL (+5.3%), IEX (+3.9%), NMDC (+5.5%), OIL (+9.6%) and others also gained today. 

SBI LIFE (+5.7%), HDFC Life (+7.1%) and ICICI Prudential Life (+1.8%) shot back up from multi-month lows. There are indications that the LIC IPO may not happen this Financial Year if a war happens.

Auto stocks saw heavy selling after the auto-sales data for February was published yesterday. Maruti saw a 7% YoY fall in units sold. Maruti (-6%), Bajaj-Auto (-4.4%), Hero MotoCorp (-4.3%) and Eicher Motors (-3.1%) closed in the top-losers.

Dr Reddy (-5.1%) closed in the top-losers segment, falling to fresh 52-week lows.

Financial stocks saw heavy selling led by ICICI Bank (-3.7%), HDFC (-3.6%) and HDFC Bank (-3.6%).

European gas prices rise nearly 22%. MCX (+7.3%), IEX (+3.9%) and BSE (+2.3%) jumped as trading volumes increased.

Markets Ahead

European benchmark coal prices have risen 15% to Rs 16,665/ton. Crude Oil prices are at their highest since 2013 and natural gas prices are also higher.

This is not good for India. If it is not clear to you, India imports nearly 85% of its petroleum demand and such a drastic increase in prices is not good for the entire economy. It could push retail and wholesale inflation to fresh highs.

Quality midcap and smallcap stocks like IEX and BSE are showing their strength even when the market is lower.

A good bet would be the power sector for the coming weeks. Smaller bets on Metal can be looked at, as they are already at highs.

NIFTY will continue to trade without direction with a lack of a trigger. Any news trigger could push the index to either side. If news start to die down, we can expect a gradual recovery in the next 10-15 days.

At this time, we can look at investing and averaging quality stocks in our portfolio. A systematic investment plan is the best way to go now!

Confused about which stocks to buy in the fall? Invest in NIFTY BeEs ETF! Let us know which your best picks are in the comments of the marketfeed app!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets recover after the gap-down and close in green.

NIFTY opened with a huge gap-down at 16,506 and tried to move lower.  It took support before reaching last week’s low and found strong buying for the day. There was a recovery of 460 points from the day-low and NIFTY closed the day at 16,793, up 135 points of 0.81%.

BANK NIFTY opened at 35,970 with a gap-down and moved up. The index moved up 650 points from the day-low but could not turn green. It traded above the 36k mark comfortably towards the latter half of the day. Bank Nifty closed at 36,205, down by 225 points or 0.62%.

NIFTY METAL (+4.9%) closed with huge gains after commodity prices increased worldwide. NIFTY IT (+1.1%) also moved up while most others consolidated.

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

News Picks

Hindalco (+7.4%), Tata Steel (+6.5%) and JSW Steel (+4.8%) closed in the top-gainers of NIFTY 50. Metal and other commodity prices are moving up worldwide.

Aluminium prices hit record highs in London as Russian supplies face challenges.

Jindal Steel (+6.2%), SAIL (+5.1%), Vedanta (+4.8%) and many other metal stocks closed in green.

Other gainers were from the energy sector. PowerGrid (+6%), BPCL (+4%), Coal India (+3.7%), Reliance (+3.3%) and NTPC (+2.4%) closed in the gainer’s list. GAIL (+7.4%) and Petronet (+5.2%) also moved up.

European gas jumps 33%. Concerns of international inflation exist.

Markets reacted negatively to Biocon’s (-11.5%) subsidiary Biocon Biologics acquiring biosimilar assets of Viatris for up to Rs 25,231 crores.

Dr Reddy (-2.7%) saw selling and slipped to fresh 52-week lows. Most other Pharma stocks remained stable.

Defence-related stocks gained with the Russian attack on Ukraine continuing. HAL (+5.5%), BEL (+5.1%), BDL (+3.7%) and BHEL (+3.5%) moved up in the day. BEL also won orders worth Rs 1,075 crores.

RAIN Industries (-7.2%) crashed the day after reporting a Q4 loss of Rs 97 crores. Carborundum Universal (-7.4%) also fell from the same sector.

UTI AMC (+13.4%) moved up in the day with a strong breakout. The stock hit 20% upper circuit before cooling down.

Reliance (+3.3%) took control of 200 Future Retail stores. Future Retail stock moved up. 

Markets Ahead

The current crisis in Ukraine continues with Russia continuing its attack. 

India’s Finance Minister said that we are worried about the impact on exports, particularly pharma due to the Ukraine crisis. She also added that the long capital gain tax at the rate of 10% is too low compared to other countries, if changed markets may not like this.

Currently, the smart money is flowing into commodity stocks. Prices of crude, metals and natural gas among others are shooting up across the world. Keep an eye on electricity stocks as well.

The news-driven market continues. But NIFTY is showing some strength and has closed at its highest since last Thursday. The same cannot be said for the Bank index. Reliance is also showing strength due to increasing Oil and Gas prices. 

Keep an eye out for more volatility. There are reports of potential talks between Russia and Ukraine. But Putin has today puts Russia’s nuclear forces on ‘special alert’. In case of a nuclear attack, markets may fall heavily even further.

Any specific stocks in mind for the month of March? 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 recover on the last day of the week as Western Nations refrain from military action against Russia.

NIFTY opened with a huge gap-up at 16,525 and shot up. There was positivity in the market as major U.S. markets closed in the green yesterday despite our markets falling. It went on to hit a high early in the morning before consolidating. NIFTY closed at 16,658, up by 410 points or 2.53%.

BANK NIFTY opened at 35,921 with a gap-up and moved up. It gave a clean breakout above the 36k mark and moved up another 700 points. After taking resistance at yesterday’s high, the index consolidated. Bank Nifty closed at 36,430, up by 1,202 points or 3.41%.

All sectoral indices closed in the green today. NIFTY Metal (+5.7%) and NIFTY REALTY (+5.3%) gained more than 5% each followed by NIFTY MEDIA (+4.6%) and NIFTY PSU Bank (+4.6%).

Almost all Asian markets mostly closed in the green today. European markets are also currently trading well in the green.

News Picks

Coal India (+8.9%) jumped and closed as the top-gainer in NIFTY 50 today. The Coal Ministry said that it is considering partnerships with private companies to operate nearly 100 closed or discontinued mines.

Tata Motors (+7.4%), Tata Steel (+6.6%) and Tata Consumer (+4.6%) closed among the top-gainers after falling heavily yesterday.

Dixon (+9.5%) gave a breakout and closed at a 2-week high. DLF (+8.8%) also regained from yesterday’s fall and ended the week in green.

Adani Power (+11.6%) won a court case on power dues from Rajasthan. The Supreme Court asked Rajasthan to pay Rs 3,000 crores to Adani.

Dr Reddy (+2%) completely acquires German Medical cannabis firm Nimbus Health. 

Tata Power (+7.6%) says they will set up a 4 GW solar manufacturing facility in the next 18 months and also says their Solar order book stands at Rs 10,000 crore.

NMDC (+4.8%) raises prices of lump ore by Rs 400 to Rs 5,600/tonne. Stock prices recovered.

SpiceJet (+8%) to launch six new international flights to Bangkok.

Hindalco (+3.1%) and National Aluminum (+4.6%) moved up as Aluminum continues to trade at a high.

Markets Ahead

Russians have now entered Kyiv, the capital city of Ukraine. What caused global markets to react negatively yesterday have temporarily been put on hold currently.

European countries and America have not launched any attacks on Russia, instead have resorted to putting financial pressure. Europe continues to accept Russian Natural Gas, which it is heavily dependent on. This has caused crude and gas prices to calm down.

So even though there are fresh attacks going on in Ukraine, the markets are brutally ignoring it currently.

India VIX also fell back. NIFTY and BANK NIFTY however have not gained back to closing levels of Wednesday. This level will have to be broken back to show that the markets have recovered completely from the fall now.

The current doubt is if this is just a bounce before the next fall. As we know, the current market situations are driven mostly by the news. Any reports of fresh attacks by Western Countries in Ukrainian soil would trigger more panic.

How did the week go for you? Are you holding on to cash to invest in this dip or fully invested in the market? Let me know in the comments of the marketfeed app!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

A Real Red Day To Remember! War starts in Ukraine and markets react. Everything turns red, except VIX!

NIFTY opened with a huge gap-down of 514 pts at 16,548 and it was a clear downtrend day with a lot of volatility. Multiple supports around 16,450 were tested, but it wasn’t good enough to save the market. NIFTY went near 16,200 after six months and closed at 16,247, down by 815 points or 4.78%.

BANK NIFTY opened at 36,085 with a gap-down of 1306 pts. The index took support at 35,900 after the morning fall. But the real show happened in the last ninety minutes, a fall of 1,000+ pts.  Bank Nifty closed at 35,228, down by 2,163 points or 5.79%.

All the indices closed in the red. But Nifty Auto (-6.2%), Bank Nifty (-5.7%), Finserv (-5.1%), Media (-6.9%), Metal (-5.2%), PSU Bank (-8.2%), Realty (-7.1%) took the largest missiles from Russia, fully shattered. 

We couldn’t find a single global market in the green. Asian markets mostly closed in the red today. European markets are trading 3-4% down.

News Picks

All the Nifty 50 stocks were in the mood to close in the red. Multiple stocks fell below 200 EMA indicating technical bearishness today (Reliance, Bajaj Finance, Kotak Bank, ICICI Bank and TCS).

From the auto sector Tata Motors (-10.2%), HeroMoto Corp (-6.7%) and M&M (-6.4%) featured in Nifty 50 top losers list. Amara Raja Battery (-10.7%), Ashok Leylamd(-8.3%), Balkrishna Ind (-7.7%) and Exide Ind (-7.5%) also fell.

All the FnO activated stocks closed in the red. SunTeck (+0.19%) was the only stock from the top ten sectors to close in the green. 

Media stocks DishTV (-8.5%), Hathway (-8.8%), Nazara (-9%) and TV18BRDCST (-11.2%) moved the most from the segment.

Bank of India (-13.2%), Canara Bank (-9.1%), IOB (-9.6%), J&K Bank (-9.8%), PNB (-14.3%), Union Bank (-9.5%) closed in the… Red? Deep red? No words to express the fall.

Hindalco (-0.2%) and National Aluminum (-3.5%) tried to move up after Aluminum broke the high of 2008 in London. 

India Finance Secretary says prepared to handle any crisis due to situation in Ukraine.

Markets Ahead

MOEX and RTS index of Russia fell 40%-50% down after the trading was restarted. Bank of Russia temporarily banned short-selling to stop the fall. Both the indices are currently trading with a cut of 30%.

Fresh bombings, explosions and killings are happening currently in Ukraine. The U.S. Futures and European Markets are continuing to fall. Let us pray for the innocent souls who are trapped in between this purely political move by Russia.

Russia has rejected invitations from countries like Germany for negotiation. The aggression by the country will affect India in 2 major ways. Global crude oil prices indicated by WTI Crude has jumped 8.47% to more than $100/barrel which will affect our country negatively. Also, if we are asked to take a side in case of a World War, it will be disastrous for our economy as well as the global markets.

India VIX hit the highest level since June of 2020 and closed 30% up. NIFTY is at its lowest point since last August when it gave a breakout. The fall of more than 10% from the recent high indicate a technical correction.

Average your portfolios only when the clouds of uncertainty clear in the market. There are also many false reports and misinformation being shared. Please refrain from sharing news from unverified sources.

Let us stay safe and be thankful that we are not directly affected by all this. Also, offer your thoughts and prayers to those affected by all this. Prayers for all our portfolios as well, as indeed we are all stock market participants.

See you at The Stock Market Show at 7 PM!