Tag: Reliance share

Today’s Market Summarised

Market falls and loses gain after the initial gap-up opening.

NIFTY opened with a gap-up at 17,202 and tried to move up. The initial gains were quickly lost and the market went on to consolidate till near 3 PM. A big fall was seen towards the close and NIFTY closed at 17,063, down by 29 points or 0.17%.

BANK NIFTY opened at 37,664 with a gap-up. The index failed to break the 37,800 resistance and went on to a sideways trend. Just near closing time, the index of banks fell to day-low along with the rest of the market. Bank Nifty closed at 37,392, up 20 points or 0.05%.

NIFTY REALTY (+3.1%) and NIFTY PSU BANK (+1%) closed with good gains in the day. Other sectoral indices consolidated.

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

News Picks

Kotak Bank (+2.4%) continued to feature in the top-gainers list of NIFTY 50. IndusInd Bank (+1.2%) also moved up.

With gold prices increasing, Titan (+1.8%) moved up in expectation of higher profits for the company.

Realty stocks saw bullishness in the day, bouncing back from their recent lows. DLF (+6.1%), Sobha (+5.3%), Prestige (+4.8%), Sunteck (+4.5%) and Oberoi Realty (+4.5%) shined.

Sugar stocks bounced back sharply with bullishness across the whole sector. Balrampur Chini (+2.6%), Eid Parry (+6%), Shree Renuka (+9.5%) and Dalmia Sugar (+3.7%) were the biggest stocks to move.

China Foreign Ministry says that some countries putting sanctions on Russia over Ukraine is not the best way to solve problems

Welspun India (+5.4%) traded in green after approving the raising of funds up to Rs 500 crores by issuing NCDs or Commercial Papers.

PNC Infra (+11.4%) moved up after winning a large order worth Rs 4300 crores.

Indiabulls Housing (-3%) and Dhani (-10%- LC) continued their fall after the raids in offices on Monday. IB Real Estate (+1%) slightly gained back.

Adani stocks mostly closed in the green today. Adani Enterprises (+1.2%), Adani Transmission (+4.6%), Adani Power (+4.1%), Adani Wilmar (+9.7%) and ATGL (+3.4%) moved up.

Markets Ahead

All European countries are moving into offensive and strict diplomatic conversations with Russia. Many countries, including the European Union are set to announce even more big sanctions on Russia next week.

Meanwhile, Russian Ambassador to Washington said that the sanctions against Russia will hurt Global Financial and Energy Markets.

The situation is going on and on with things getting better at one moment and even more worst the next. Even still, the intraday falls market is seeing is lesser now. NIFTY closed nearly flat today despite the heavy fall near the end.

NIFTY is still trading above the key support level of 17,000 and 16,800. India VIX which indicates the volatility in the market, is still near its 9-month high. Dow Jones Futures are currently trading well in the green after the U.S. market fell yesterday. If all goes well, even our markets may open with a gap-up tomorrow.

The latest options data indicate that NIFTY might close tomorrow between 17,230 and 16,950. What do you think of this? 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

The 50 points region around 16,800 has been approved as the lifesaver for Nifty!

NIFTY opened with a huge gap-down at 16,847, down by 358 pts. Looking at the charts, the region above 16,800 has been a concrete support for Nifty and it respected taken today too! During the recovery, 17k acted as a resistance, but it was a stellar rally of 200+ pts in just one hour after some positive news came from Ukraine. Nifty closed at 17,092, down by 114 pts or 0.67%.

BANK NIFTY opened at 36,833 with a gap-down of 852 pts. The index tried to get back in the green with the help of the afternoon rally but failed. Still, there was a really good move from market opening to closing. Bank Nifty closed at 37,371, 313 pts or 0.83% down.

All the sectoral indices closed in red. Nifty Media (-3.3%), Realty (-2.9%) forgot about the recovery phase.

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

News Picks

ONGC (+0.95%) remained strong from the morning itself as crude rose to hit over 7-year high. 

Nifty Auto recovered more than 2% in the last two hours with the help of M&M(+1.4%), Eicher Motors (+0.98%), Hero MotoCorp (+0.65%) and Bajaj Auto (+0.59%). But, Tata Motors(-3.2%) closed in the red.

From the heavyweights, Kotak Bank (+0.8%) and HDFC (+0.70%) featured in the Nifty 50 top-gainers segment with slight gains.

Media stocks such as Hathway (-4.4%), DishTV (-4.4%), Network18(-4.9%), TV18BRDCST (-4.9%) fell more than 4%. ZEEL (-5.4%) also moved down sharply.

Realty stocks DLF (-6.3%) and Lodha (-6.5%) took a hard hit.

TCS (-3.5%) continued to be weak with the lowest close in 2022.

IB Real Estate(+10.2%) strongly recovered from yesterday’s fall after the positive statements from the company. Indiabulls Housing Finance (+0.90%) also closed in the green. However, Dhani crashed 20% again.

Markets Ahead

Major Russian Indices fell more 6% last day and are currently trading 3% down. This forced our markets to open with a big gap-down and fall today.

Donetsk’s (Ukraine) parliament approves the treaty of friendship and mutual assistance with Russia. This was the news that powered the afternoon rally in most of the sectors.

The situation of Russia-Ukraine issue is still unclear with many positive and negative news surfacing continuously. The market always hates uncertainty. India VIX closed 16% up.

It’s a very good thing to see Nifty closing above 17k and let’s keep an eye on 16,800 also in the coming days. But the Index is still trading below the downward trendline.

37,650 is treating Bank Nifty as an enemy, not letting it move up. Even with a good rally, Bank Nifty could not close above 37,500.

How do you think the market might shape up in the coming days? NIFTY is showing major weakness in the technicals but is it driven by just news or also other factors? 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

Monday sees a slight weak opening for the market even as Banks close in green.

NIFTY opened at 17,209 with a gap-down and went down. It found support at 17,080 very quickly and jumped up back nearly 300 points by 1 PM. The afternoon saw profit booking in the index which pulled it down. NIFTY closed the day at 17,206, down 69 points or 0.40%.

BANK NIFTY opened at 37,481 with a gap-down and moved down. The index bounced back before breaking reaching the support of 37,000. Even with the strength after taking support, the index of banks could not break the 38,000 resistance. Bank Nifty closed the day at 37,685, up 86 points or 0.23%.

NIFTY MEDIA and NIFTY METAL fell more than 2% in the day. NIFTY Pharma, PSU Bank and Realty fell more than 1% each.

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

News Picks

IT stocks closed mixed for the day. While Wipro(+1.5%) and Infosys(+1.39%) closed among the top-gainers of NIFTY 50, TCS(-1.96%) fell down. 

Coal India(-3.55%) closed as the top-loser in NIFTY 50 after factoring in the Rs 5/share dividend. 

Other NIFTY Metal stocks including Hindalco(-3.32%), Hindustan Copper(-4.79%), National Aluminium(-3%) and JSW Steel(-1.5%) moved down.

Hero Motocorp(-2.10%) fell on the day after factoring in Rs 60/share dividend.

Indiabulls Housing(-9.86%) fell more than 13% from the day-high after news that the Enforcement Directorate is conducting searches at its Mumbai and Delhi offices.

Sister companies IB Real Estate(-15%) and Dhani(-20%) crashed down.

INDIGO(-1.42%) recovered after its initial fall and closed just slightly in the red. Its co-founder Rakesh Gangwal had surprised investors and stepped down from the board and said he will reduce his holding in the company.

Federal Bank(+1.89%) closed in the green after its subsidiary FedFina filed papers with SEBI for an IPO.

ION Exchange(+2.45%) moved up after receiving approval from NSE for the listing of its equity shares on the main board of NSE from February 22.

Crompton Greaves is set to acquire Butterfly Gandhimati(+7.32%) for Rs 1450 crores.

Markets Ahead

There are talks that the Putin-Biden meeting is at a ‘premature’ stage and may happen in the coming days.

As we discussed on Friday, this does NOT look like a time bomb and things are getting better. Still, India VIX is at a 9-month high and may affect option buyers if it moves down. 

For NIFTY, the support at 17,000 will need to be respected in the upcoming sessions for the market to remain stable. The next important support is at 16,800. 

Bank Nifty is currently trading at the 50-day exponential moving average and the moves over the next days will be important for the index.

Stay careful about intraday volatility even as the Russia-Ukraine issue dies down!

See you at The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets end the week slightly lower with Russia-Ukraine tensions easing.

NIFTY (-0.16%) opened at 17,241 with a small gap-down and moved up. In the afternoon, the index tried to move up and broke the day-high. News of aggressive actions by Russia pulled down the market after 2 PM. NIFTY closed the day at 17,276, down 28 points or 0.16%.

BANK NIFTY (+0.18) opened at 37,372 with a gap-down and moved up. Even though it was bullish, the index could not sustain above the 37,800 mark.  It fell along with the rest of the market and took support at 37,500. Bank Nifty closed the day at 37,599, up 67 points or 0.18%.

Only NIFTY Bank and NIFTY Finserv closed in green. NIFTY REALTY closed more than 1% down while others consolidated.

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

News Picks

Coal India (+2.61%) closed as the top-gainer in NIFTY, recovering from its post-result fall on Monday. It moved higher after reporting strong supply numbers.

SBI Life (+2.14%) moved up in the day and closed in the top-gainers list. The stock was flat yesterday while peers HDFC Life and ICICI Prudential Life moved up.

ONGC(-2.24%) slipped after closing among the top-gainers yesterday. Reliance(-0.78%) also slightly moved down as international crude oil prices broke their bullish trend.

Cipla(-2.06%) continued to fall in the week after reports of promoters selling the stake. The stock is nearly 5% down from last Friday’s price. Divi’s Lab(-2%) also fell in the day.

Ambuja Cement(-5.96%) fell to a 7-month low after reporting a 55.5% decline in net profit to Rs 431 crore for the December quarter. UltraTech Cement(-1.84%), Ramco Cement(-2.67%), ACC(-2.05%), JK Cement(-2.16%) and Shree Cement(-1.51%) closed in the red.

Many tyre stocks are near their 52-week lows after the fines on the industry last month and synthetic rubber prices increasing. Apollo Tyres(-2.76%), Balkrishna Industries(-1.46%) and CEAT(-1.04%) were among those that fell today. 

Dilip Buildcon(-5.04%) continued its fall to fresh 52-week lows falling more than 60% from October levels. The stock has been falling after the CBI investigation and bribery case.

VBL(+2.49%) closed at its highest level since November 12th, keep an eye on it for the upcoming sessions. You can read more about the stock here.

Markets Ahead

NIFTY moved back up after Monday’s sharp fall. It was all going well for the market today before the announcement that Russian President Vladimir Putin will personally oversee military ballistic and cruise missile drills tomorrow. 

Even news like these has reduced effect now, with NIFTY limiting its fall. European markets are also all still trading in the green. Markets have recognized it as nothing but a negotiation tactic ahead of the Russia – U.S. Defence talks today evening.

NIFTY is seeing power from HDFC and Reliance. HDFC Bank is also looking stable, while ICICI Bank has fallen 5% this week. IT stocks closed in the red mostly after NASDAQ’s fall yesterday. They might reverse and show strength on Monday if U.S. Tech stocks gain tonight.

NIFTY might trade between 17,200 and 17,650 for the upcoming week. If the defence talks go well today, we may even see the India VIX(Volatility Index) coming down on Monday. INDIA VIX is up 20% for the week!

There is no hope for midcap and smallcap recovery currently. We need to see investors taking up NIFTY first, then a consolidation period might help smaller stocks in the market to break their bearish trend.

Hoping that the discussions between U.S. and Russia go well today. How did the week 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

The weekly expiry ends with the market closing flat after the morning volatility.

NIFTY opened at 17,399 with a small gap-up and moved up and immediately crashed down. By 10:30 AM, the index found support near yesterday’s low and bounced back up. It could not however break the day-high and fell again. NIFTY closed the day at 17,304, down 17 points or 0.10%.

BANK NIFTY opened at 38,047 with a gap-up but could not hold gains. After the initial fall, it could not break the resistance at 38,000 throughout the whole day. Towards closing time, the index tried to break the support at 37,500. Bank Nifty closed the day at 37,531, down 422 points or 1.11%.

All sectoral indices except NIFTY FMCG closed in the red. Nifty PSU Bank(-1.1%) and NIFTY Bank moved down 1% while others consolidated.

Asian markets closed mixed today. European markets are also trading mixed currently.

News Picks

Tata Consumer (+2.7%) closed as the top-gainer in NIFTY 50 after many days. It is trying to regain from an 8-month low. Similarly, HDFC (+2%) also featured in the list after regaining from its 52-week lows.

ONGC (+1.9%) gave a breakout and moved back up to near multi-year highs. Reliance (+1.2%) also climbed up as global crude prices move up.

HDFC Life (+1%) and ICICI Prudential Life (+3%) closed in green, regaining from the fall last month.

NMDC (-5.2%) moved down after factoring in a dividend of Rs 5.75/share.

Muthoot Finance (-3.4%) lowered growth guidance and continued fall along with peer Manappuram Finance (-2.6%).

Markets Ahead

With how the market behaved on Monday and Tuesday and Russia-Ukraine tensions, the expiry was expected to be a wild one. But, it turned out to be a relatively calm weekly expiry than what was expected!

The market fell in the morning with reports of Ukraine and Russia-backed Rebels accusing each other of attacks. However, this cooled off quickly and the market regained stability after the Russian Defence Ministry published a video of tanks returning to bases.

Reliance is continuing its breakout as we discussed on Tuesday. HDFC is also stabilising after its fall. NIFTY looks confident to respect the support at 17,000 and continue to move back up. 

As global nations expect and call for de-escalation of tensions in Europe, it would be a positive cue for the market. Realistically, every nation in the world is trying to avoid armed conflict in the region. And markets have factored in the current situation. 

But if there is an escalation or strong signs of war, things will surely change! The resistance to watch out for the short term will be at 17,650 for NIFTY and 39,000 for Bank Nifty.

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Highly volatile Wednesday ends with NIFTY just slightly in the red.

NIFTY opened at 17,408 with a small gap-up. There was some profit booking in the morning, but after taking support from 17,250, the index moved up to find resistance near 17,500. A sharp sell-off after 2 PM took the index 200 points down till near the day-low. NIFTY closed the day at 17,322, down 30 points or 0.17%.

BANK NIFTY opened at 38,310 and fell in the first 2 hours. After taking support near 37,800, buying in private banks helped the index jump nearly 700 points to the day-high. The last hour fall affected Bank Nifty as well, just like the rest of the market. Bank Nifty closed the day at 37,953, down 216 points or 0.53%.

Nifty PSU Bank(-1.1%) and Realty(+1.1%) closed with 1% change while others consolidated.

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

News Picks

Oil stocks ONGC(+2.6%), IOC(+2.3%), BPCL (+1.4%) moved up with rising global crude prices caused by Russia-Ukraine issues. Hind Petro(+3%) also shot up.

Divislab (+3.2%)  gave a breakout along with some other pharma stocks like Dr Reddy (+0.9%), Lupin (+1.7%) and Cipla (+1.2%).

NBFC stocks like M&MFin(+5.5%), HDFC (+1%), SRTRANSFIN (+1%) moved up after RBI extended the new NPA rule implementation deadline to September 2022. PNB Housing (+10.4%) also moved up.

Other NBFC stocks failed to hold opening gains.

Burger King India  (+6.1%) said it is reducing discounts and planning to increase prices. Peer stocks like Jubilant Foodworks moved down

Vedant Fashions lists a premium of 7.5% at Rs 931, against the issue price of Rs 866/share. Closed the day at Rs 933.5.

Markets Ahead

The market was trying to recover in the normal way today. But the Russia-Ukraine tensions continue. NATO Secretary-General said that Russia said they are prepared for discussion, but we are prepared for the worst. Also said that the number of Russian troops on Ukrainian borders continues to increase. This pushed down our markets.

UK January inflation comes in at a 30-year high, January CPI up 5.5% YoY. This is expected, just like our inflation data as well.

Reliance is still looking bullish after yesterday’s breakout. HDFC is also trying to break its bearish phase and move back up.

Auto stocks are trying to gain strength. Keep an eye out for them in the upcoming days.

Keep an eye out for the escalating tensions in Europe and Russia!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

An incredible reversal in the markets after reports that Russian troops are withdrawing from the Ukraine border.

NIFTY opened at 16,936 with a gap-up. The index fell to near yesterday’s low after failing to break the 17,000 resistance. Eventually, it moved up breaking the day-high and went on a buying mode after breaking 17,100. With serious bullishness and retaking all of yesterday’s fall, NIFTY ended the day at 17,352, up 509 points or 3.03%.

BANK NIFTY opened at 37,028 with a gap-up but failed to stay in the green. The index even fell and broke yesterday’s low before taking support at the important level of 36,650. From the day-low, bullishness was seen in the index just like the rest of the market. Bank Nifty closed the day at 38,170, up 1261 points or 3.42%.

All sectors ended in the green today. NIFTY Auto and NIFTY PSU Bank gained 4% each. All sectors except NIFTY Pharma (+0.79%) closed with more than 2% gains.

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

News Picks

Cipla (-3.4%) opened with a big gap-down and closed as the top loser in NIFTY 50. The company’s promoters are looking to sell up to 2.5% of shares for Rs 1,830 crores.

Auto stocks shot up in the day and closed among the top-gainers of NIFTY 50. Tata Motors (+6.9%), Eicher Motors (+5.9%) and HeroMotoCorp (+4.9%) featured in the list. Ti India (+4.9%), Ashok Leyland (+3.6%) and M&M (+3.5%) were among the other gainers.

Top-losers from yesterday including Shree Cements (+5.6%) and SBI (+4.6%) gained significantly today. However, financial stocks did not gain back as much compared to yesterday’s fall.

Manappuram (-10.7%) crashed again after analysts cut its price targets following poor Q3 results. The stock hit a fresh 52-week low.

China Government tells iron ore companies not to hike prices. We will have to see how this impacts metal stocks when the market stabilises tomorrow.

SpiceJet (+8.8%) shot up after reporting Q3 standalone net profit at Rs 23.2 crores against a loss of Rs 56.9 crores last year. Indigo (+4.7%) also moved up.

Markets Ahead

Yesterday, all supports were broken. Today, all resistances have been broken. What a crazy market! 

The news that prompted the up move was Russia saying its southern and western armies are returning to bases. This is seen as a very positive announcement as global markets are scared of a sell-off.

India’s January exports have risen 25.28% compared to last year with imports also showing a similar increase.

Most of the market has gained back from yesterday’s fall. However, HDFC still remains weak in the daily charts.

Reliance, however, has jumped to a 3-week high. Keep an eye out for the stock. NIFTY has the next immediate resistance at 17,500 now. The key-support now is to look for 17,200 for the index. If there are now international cues in the upcoming days, we can expect a good recovery in the midcap markets along with a gradual increase in NIFTY.

How is your portfolio looking after NIFTY gaining back? Is your portfolio back too? Let me know in the comments down below!

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Markets see a heavy fall following political tensions in Ukraine.

NIFTY opened at 17,099 with a big gap-down once again. After the initial fall of nearly 200 points, the index tried to bounce back up to the opening ranges. Consolidation was seen towards 2 PM, but a sharp fall was seen once again. NIFTY ended the day at 16,842, down 531 points or 3.06%.

BANK NIFTY opened at 37,796 with a gap-down of more than 700 points. Just like the rest of the market, banks also were highly bearish. Support was taken at 37,200 initially but this was broken towards the closing of the day. Bank Nifty closed the day at 36,908, down 1600 points or 4.18%.

All sectors ended in the red. NIFTY PSU Bank (-5.9%), NIFTY Realty (-5.2%) and NIFTY Metal (-5%) fell more than 5% each. Financial stocks also took a big hit.

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

News Picks

Tensions in Ukraine on the Russian invasion and possible international war pushed down global markets.

TCS (+1%) was the only company in NIFTY 50 to close in the green after the company approved and fixed the record date for its Rs 18,000 crores buyback.

JSW Steel (-6.6%), Tata Steel (-5.4%) and Shree Cements (-5.2%) fell from the construction sector. 

Realty stocks also fell heavily with IB Real Estate (-10.4%), DLF (-6.2%) and Godrej Properties (-5.6%) leading the fall.

Financial stocks including HDFC Life (-6.3%), HDFC (-5.3%), SBIN (-5.3%), ICICI Bank (-4.7%) featured in the top-losers of NIFTY 50. LIC Housing (-8.2%), Indiabulls Housing (-7.4%), PNB (-6.6%) and Canara Bank (-6.6%) also fell heavily in the day.

Metropolis (-15.2%) fell heavily in the day after reporting a 30% YoY fall to Rs 41 crores despite a 7% rise in revenue.

Manappuram Finance (-6.4%) fell sharply after reporting Q3 consolidated net profit at Rs 261 crores, down 40% YoY and much below estimate. Peer company Muthoot Finance (-4.8%) also fell.

Ashok Leyland (-6.8%), HDFC (-5.3%) and Lupin (-4.6%) were among some stocks to hit the 52-week low.

Markets Ahead

The tensions in Ukraine led to a sell-off in markets around the world, and our markets also responded. Ukrainian Ambassador told London that they may back down from NATO (North Atlantic Treaty Organization) to avoid war with Russia.

A red day indeed for global markets for Valentine’s Day!

Also, India’s January Wholesale Prices (YoY) came out at 12.96%, higher than the estimate of 12.70%. Markets have turned negative for this year, and NIFTY Midcap has technically fallen to a correction with a fall of 14% from the lifetime high. 

It is the biggest fall for NIFTY in 10 months. Heavyweight NIFTY 50 stock HDFC is at a 1-year low. Guessing your portfolios are in red just like the entire market for Valentine’s Day. Let me know in the comments down below! 

See you on The Stock Market Show at 7 PM!

Today’s Market Summarised

Indian indices see a fall tracking other global markets.

NIFTY opened at 17,454 with a big gap-down and fell more. It took support at the day-low of 17,300 multiple times and tried to move back to the day-high. With weakness near the closing again, NIFTY ended the day at 17,374, down 231 points or 1.31%.

BANK NIFTY opened at 38,600 after a gap-down and tried moving up. The index was very clearly trading sideways but in a range of more than 400 points. With some afternoon selling, the index moved down to the day-low. Bank Nifty closed the day at 38,517, down 493 points or 1.27%.

All sectoral indices closed in the red yesterday. NIFTY IT (-2.7%), NIFTY PSU Bank (-2%) and NIFTY Realty (-2%) fell more than 2% each. 

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

News Picks

Only a few stocks from the NIFTY 50 closed in green today.

IT stocks fell sharply in the day following global tech stocks seeing pressure. TechM (-2.9%), Infosys (-2.7%), HCL Tech (-2.2%) and Wipro (-2.1%) closed among the top-losers of the day.

LTI (-5%), LTTS (-4.2%), Coforge (-3.9%),  MindTree (-3.9%) and Mphasis (-3.5%) also fell heavily from the NIFTY IT sector.

Grasim (-3.3%) fell sharply in the day ahead of its quarterly results tomorrow.

Zomato (-6%) fell in the day even after narrowing losses to just Rs 99.8 crore in Q3. The company posted weak revenue growth for the quarter. InfoEdge (-6%) also fell sharply since it has a good holding in Zomato.

Tata Chemicals (-4.7%) consolidated Profit After Tax jumped 69.4% to Rs 340 crores. The stock saw profit booking and fell.

LIC bought 2 lakh shares of Adani Total Gas (+1.1%) on Feb 9th. Adani Wilmar (-1.3%) stopped its rally and consolidated today.

MOIL (+4.5%) jumped up towards closing time after reporting Q3 standalone net profit Rs 124 crores, more than double from last quarter.

Markets Ahead

All was looking good for our markets till yesterday. NIFTY had regained losses and moved back up above some immediate resistance lines.

The fall in the U.S. market yesterday was triggered by higher US inflation data and fears over higher-than-expected rate hikes by the U.S. Federal Reserve.

After gaining 2.4% last week, NIFTY will be closing this week 0.9% in the red. NIFTY Metal has now gained over 10% in the last weeks.

Dow Jones Futures are still trading in the red. Over the weekend, we can expect a gap-up or gap-down opening in the market by Monday. 

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

See you in The Stock Market Show at 7PM!

Today’s Market Summarised

Market ends in green again, boosted by RBI announcement keeping interest rates unchanged.

NIFTY opened at 17,532 and fell more than 100 points. Announcement from the Reserve Bank pushed the index from the day-low back and kept on moving up. For the most part of the day, the index slowly moved up hitting newer day-highs. NIFTY ended the day at 17,605, up 142 points or 0.81%.

BANK NIFTY opened at 38,717 and moved sideways. Even when NIFTY fell, the bank index did not fall as much and held its own. The RBI announcement helped the index move 500 points up in just thirty minutes. Bank Nifty closed the day at 39,010, up 400 points or 1.04%.

NIFTY Media(+1.66%), Fin Nifty(+1.16%) and NIFTY Metal(+1.24%) went up the most. NIFTY IT and Bank Nifty also moved up more than 1% each.

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

News Picks

ONGC closed as the top-gainer in NIFTY 50 ahead of its Q3 results announcement today.

Tata Steel, JSW Steel and Grasim from the construction sector moved up.  Jindal Steel, NMDC and Ratnamani also went up from the NIFTY Metal index.

Adani Power hit a multi-month high and closed in the green. Adani Wilmar once again closed at 20% Upper Circuit after getting listed on Tuesday.

Page Industries and Bharat Forge fell after reporting their Q3 results intraday.

Solara Pharma opened at a 20% Lower Circuit and stayed there after reporting Rs 139 crores loss for Q3.

Infosys pushed up the NIFTY index by the most and closed near the day-high.

BPCL closed among the top-losers of NIFTY 50 after factoring in the Rs 5/share dividend.

Markets Ahead

While Reliance stayed flat in the day, HDFC and HDFC Bank gave the index some strength. The RBI Governor announced that the interest rates will be kept untouched while growth is expected to increase.

Once the levels of NIFTY and BANK NIFTY we discussed yesterday were broken, the indices shot up to fresh day-highs.

Now that the 50-day EMA has been broken again in NIFTY, it is a sign of bullishness. 

How did your weekly expiry go? Comment below!

See you in The Stock Market Show at 7PM!

Today’s Market Summarised

A volatile Wednesday ends with the market closing at the day-high.

NIFTY opened at 17,371 with a gap-up of more than 100 points. The index traded with volatility in a 65 point range till 2 PM. But just around this time, the index crossed the consolidation zone and moved up. NIFTY ended the day at 17,463, up 197 points or 1.14%.

BANK NIFTY opened at 38,208 and shot up more than 300 points in half an hour. After this, the index moved sideways before giving a breakout near the end of the day. Bank Nifty closed the day at 38,610, up 581 points or 1.53%.

All sectoral indices except NIFTY PSU Bank (-0.62%) closed in green. NIFTY Auto (+2.1%), NIFTY METAL (+1.8%), NIFTY MEDIA (+1.8%) and Bank Nifty (+1.5%) closed with good gains.

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

News Picks

Coal India (+5.4%) closed as the top-gainer in NIFTY 50 with an indication of a trend reversal. The stock is at a 3-month high.

Maruti (+4%) also hit a multi-year high on the day. Bajaj Auto (+3%) and Hero MotoCorp (+2.1%) also closed in the top-gainers list from the auto sector.

BSE (+7.5%) gave a breakout after reporting good Q3 numbers.

Adani Wilmar (+20%) hit upper circuit, continuing bullishness after listing on the market yesterday.

Aluminium Futures on MCX hit a 4-month high. Hindalco (+2.9%) and National Aluminium (+4.6%) moved up.

Federal Bank (+3.1%), IndusInd Bank (+3.1%) and HDFC Bank (+2.4%) gave the best moves from the banking sector. Only PNB (-0.95%) from Bank Nifty closed in the red.

BASF India (-6.1%) fell sharply after reporting slightly lower Q3 net profits.

Bharti Airtel (+1.4%) moved up after reporting their Q3 results yesterday where revenue increased and profits moved down. The company said it may hike tariffs further.

Markets Ahead

AMFI Data for Mutual Funds indicated that net equity inflows have fallen to Rs 14,552.3 crores in December vs Rs 24,990 crores last year. Meanwhile, January SIP inflows showed an increase of nearly 2% month-on-month, coming in at Rs 11,516.6 crore.

Banks have shown a pullback from the trendline we discussed yesterday. The Bank index may taking resistance next at 38,860 with the support at 38,500.

With the afternoon bullishness Nifty formed a green candle in the daily charts after four trading sessions. 

Nifty IT is consolidating near the major zone around 35,000. You can watch out for this region in the coming days.  Even though steel stocks remained sleepy, Nifty Metal continued its bullishness with Coal India and Hindalco taking charge.

Reliance needs to break 2400 region to witness strong buying.

NIFTY has now shown some strength and has cemented the 17k mark as a short term support. The 50-day EMA at 17,544 might act as a resistance tomorrow after the probable gap-up. 

The RBI will announce the outcome of the Monetary Policy Meeting tomorrow. Tomorrow being the weekly expiry, one can expect some level of volatility. Interest rates are expected to remain unchanged.

Do you think the worst is over for NIFTY? Is this a slight weakness before the rally? Let us know in the comments down below!

See you on The Stock Market Show at 7PM!

Today’s Market Summarised

Markets bounce up and down to close the day of confusion.

NIFTY opened at 17,282 with a gap-up. By 11AM, the index was down more than 240 points to near the 17k mark. A v-shaped recovery was seen after which the index continued to be volatile. NIFTY ended the day at 17,266, up 53 points or 0.26%.

BANK NIFTY opened at 38,194 with a decent gap-up and fell. Just like NIFTY, the index was down nearly 900 points in less than 2 hours. It recovered from the 12-day low with ease and was volatile along with the rest of the market. Bank Nifty closed the day at 38,028, up 33 points or 0.09%.

Most sectoral indices closed with consolidation in the day. NIFTY PSU Bank (+0.82%) and NIFTY Metal (+0.80%) moved up the most while NIFTY Media (-1.03%) fell more than 1%.

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

News Picks

Metal stocks are not giving up with Tata Steel (+3%), JSW Steel (+1.3%) and Vedanta (+1.1%) continuing to move up.

Energy and Power related stocks such as ONGC (-3%), Power Grid (-1.6%), IOC (-1.2%), Coal India (-0.62%) featured in Nifty’s Top Losers list. 

Other energy stocks Tata Power (-6.7%), Torrent Power (-2.6%), IEX (-1.2%), PFC (-1.5%), Adani Power (-3.1%)  also moved down. 

Adani Wilmar listed at a slight gap-down at Rs 227, against the IPO price of Rs 230 and closed at Rs 268, up 16% with heavy buying.

The shares of pharma companies including Pfizer (+3%), Laurus Labs (-0.8%) and AstraZeneca (-0.4%) were in focus today ahead of quarterly earnings. There was also a report that the USFDA might start surprise inspections of their manufacturing facilities. 

Cipla (+1.5%) and DivisLab (+1.8%) closed in the NIFTY top-gainer list while Lupin (-2.1%) continued its fall.

GNFC (+4.4%) is continuing the breakout, the stock is more than 15% up in the last two trading sessions.

Godrej Consumer Products (-1.2%) reported their Q3 consolidated net profit at Rs 530 crores compared to Rs 502 crores of last year.

Gujarat Alkalies & Chemicals (+2.6%) made a sharp rise after reporting Q3 consolidated net profit at Rs 200 crores against Rs 33.2 crores last year.

As HDFC Life (-0.46%) slipped to a fresh 52-week low, ICICI Prudential Life (-1.3%) touched its lowest since April and SBI Life (-1.1%) is nearing its lowest since August.

Bank of Baroda (+4.4%) extended its rally along with chemical companies SRF and Pi Industries after their results.

Markets Ahead

Markets fell heavily in the first 2 hours of the day but this was followed up by an easy recovery. NIFTY easily moved up 250 points before closing to end in green.

Reliance closed with a green candle for the first time in February, and pushed up NIFTY by 32 points. This was even as other energy stocks fell on the day.

Metal stocks continued to show strength and Pharma is also picking up pace now. Bank Nifty’s candles show that it is still having some strength. A confirmation of strength will only be seen if the index can cross today’s high near 38,222.

Are you holding any Bank stocks? Any expectations for Bank Nifty might go in the Month of February? Let us know in the comments down below!

See you on The Stock Market Show at 7PM!