Tag: Stock market

Today’s Market Summarised

Metals moving up once again in the day with unbelievable power. Along with this, India’s 7th largest company – HDFC posted results that exceeded expectations. Markets closed in the green even with fear and uncertainty of the weekend ahead.

Nifty opened the day at 14,821 and tried to move up. 14,850 acted as a good resistance and the index slowly fell just 97 points in 4 hours. Yes, Nifty traded in a 97 point today, and hence a general day of consolidation. Nifty closed the day at 14,823, up by 98 points or 0.67%. It closed just 2 points up from the opening level.

Bank Nifty was a bit bearish as compared to Nifty. After opening with a gap-up at 33,076, the index tried to move up by jumping nearly 200 points in just 10 minutes. This positivity was not sustained as all other banks except HDFC Bank fell. 33,000 could not be held strong and the index fell to yesterday’s levels. 

Bank Nifty closed the day at 32,904, up by just 76 points or 0.23%.

All sectors except Nifty PSU Bank(down just 0.14%) closed in green. But out of this, only Nifty Metal(up 4.73%) moved up by more than 1%.

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

News Picks

Rajasthan government announced strict lockdown from May 10 to May 24. AU Small Finance Bank fell by 3% as its 43.6% of branches are in the state.

Tata Motors will has increase the prices of its passenger vehicles by an average of 1.8%. The stock tried to move up, but closed flat.

Metal stocks once again shot up in the day, as their dream rally continues. Most stocks of Nifty Metal including Tata Steel(up 7.4%), Hindalco(up 3.95%), SAIL(up 7.9%), National Aluminium(up 10.87%) and JSW Steel(up 3.72%) hit new 52-week highs among others.

The parent company of HDFC Bank, HDFC, announced their Q4 standalone net profit at Rs 3,180 crores, up by 42% YoY and 8% compared to last quarter. Individual loans have grown by 19%. Board also approved fund raise of Rs 1.25 lakh crores via bonds and a dividend of Rs 23/share.

Dabur India reported a 34% YoY growth in net profit at Rs 378 crores for the fourth quarter. Domestic Volume has grown 25.4% in Q4. The stock closed nearly 2% down after numbers missed estimates.

M&M to open an advanced design centre for mobility products in the U.K. The stock closed 2.7% up in the day.

Carlyle Group plans to sell up to a 3.5% stake in SBI Life at minimum Rs 945 a share. The stock opened 5.5% up and then fell down near yesterday’s close. But moved back again and closed 3% up.

Hero MotoCorp Q4 result beats estimates. Profit jumped 39% to Rs 865 crore on strong revenue and operating growth. The stock fell 6% from the day high within the first market hour and finally ended 1.8% down for the day. Bajaj Auto and Eicher Motors joined Hero on the top-losers list.

Tata Consumer Products Ltd reported a net profit of Rs 133.34 crore for the quarter ended March (Q4) but missed estimates. It had posted a net loss of Rs 50 crore in the corresponding period last year (Q4 FY20). The stock is down by 3.6% as the top loser of Nifty 50.

With news of BPCL privatisation reaching advanced levels, shares ended more than 2% up in the day.

Markets Ahead

Markets closed the day with some fear as rumours floated around of a potential nationwide lockdown to be announced soon. Also the Finance Ministry’s Economic Report said that ‘the second Covid wave has hit economic activities. Vaccination is the key to economic recovery.’ Vaccination, as you all may know, is not happening fast enough.

With 33,000 still not being able to be sustained by Bank Nifty, the strength and momentum seems to have been paused. But Nifty has closed above 14,800 with the power of Metal stocks and this is a good demand zone for the index. If HDFC Bank(up 0.9%) moves up on Monday, we might see some more rally.

With the lockdown fears and uncertainity, booked profits on many swing stocks including Happiest Minds, Tata Elxsi and SAIL which we had discussed here this week. 

Reducing risk and diversifying your portfolio will help you immensely in the long-term. Never put your whole capital in to one stock, and in times of uncertainty hold some cash for averaging in dips.

Hope you had a great week with Nifty moving up 300 points from Monday’s opening and some good moves from IT, Pharma and Metal stocks.

Also check out the 1-month chart of JSLHisar and the breakout it has given. Will be a good pick for next week in a dip, if market does not turn bearish!

Hoping you had a great day in the market today. And as always, stay safe and stay home if you can. Keep studying charts and improve your skills.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

A day for bulls again in the market lead by IT and Metal. Only 2 stocks from Nifty 50 closing more than 1% down but an extremely boring day for Bank Nifty.

Nifty opened the day at 14,668 with a small gap-up and came down. In the first hour of trade, the index moved with high volatility. Support was taken at 14,610 and from there the index went up. Just like yesterday, all red candles were covered soon as Nifty moved up till the end.

After consolidating around 14,700 for a long time, Nifty closed the day at 14,724 up by 107 points or 0.73% in the day.

Bank Nifty opened at 32,913 and was consolidating heavily through the day. It could not break 33,000 and fell nearly 400 points from the opening range by 11 am. Overall, the index only traded in this 400-point zone. But afternoon, started slowly moving up. Bank Nifty closed the day at 32,827, up 44 points or 0.13%.

All sectoral indices except Nifty PSU Bank(down 1.2%) and Nifty Pharma(down 0.23%) closed in the green. Nifty Metal(up 2.5%) was followed by Nifty IT(up 1.83%) and Nifty Auto(up 1.78%). All other indices consolidated.

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

News Picks

CoForge posted their Q4 net profit at Rs 133 crores, up 17% YoY and up 7% compared to the last quarter. Shares of the midcap IT company gained 17% in the day. 

Shares of other IT companies including Wipro(up 4.4%), Mphasis(up 5.44%), Mindtree(up 3.78%) and Happiest Minds(up 8%) hit new highs in the day.

IEX registered a 90% YoY growth in the volume of power traded. The stock was up 5% intraday but cooled off to close 1.7% up. You can read more about Indian Energy Exchange works here. 

Angel Broking Ltd plans to enter into asset management business and aims to float a mutual fund. The stock once again rallied and rested at 20% Upper Circuit at Rs 512. The stock is up 86% from its listing price of Rs 275 in its IPO exactly 7 months ago on October 6th.

Berger Paints has raised the prices of products across its portfolio by an average of around 3% this month. The company is now considering a second round of hikes soon. Stock remained unmoved.

Tata Motors moved up 3.34% with other auto stocks even as Competition Commission ordered a detailed probe against the company. 

After Tata Steel’s stellar result yesterday, the stock opened with 2% gap-down. But from there, the stock moved up more than 7%. The stock closed the day with a net gain of 2.87%.

Other Metal stocks including Hindalco(up 5%) and Jindal Steel(up 4.44%) were also up after Tata’s Q4 results.

Hero MotoCorp gained 4.5% in the day in expectation that the company will announce good Q4 results today. Bajaj-Auto is also up by 2.5%.

Adani Green Energy posted a nearly 86% rise in consolidated net profit to Rs 104 crore for Q4. The stock closed more than 3% up.

Markets Ahead

Even with a small gap-up, 33,000 remains unbroken for Bank Nifty as we had discussed all across the week. But with the strong closing from ICICI Bank and Kotak Bank, this level might be crossed soon.

IT, Pharma and SAIL have shot up this week even with Tuesday’s fall. So happily sitting with some green in my picks for the week as we discussed here on Monday.

Tata Steel’s results have totally justified the steel stocks rally over the last many months. Watching into more movement, especially from SAIL as we had talked last day. Because at more than Rs 6,590 crores, the net profits were much higher than that of many IT companies including that of Infosys. I know that is not a direct comparison and will be difficult to sustain in the long run, but still some great results.

Talking about IT companies, hope you are enjoying the rally in these stocks, including Happiest Minds being up 11% in the 3-4 days of us discussing it here.

For tomorrow, 14,800 can be watched in Nifty. If it a day of falling then 14,560-14,610 might act as a good support zone.

Hoping you had a great day in the market on the weekly expiry day. And as always, stay safe and stay home if you can. Keep studying charts and improve your skills.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

With the RBI Governor’s surprise press-conference, Nifty closes at the day’s high after a day of highly volatile consolidation.

Nifty opened the day at 14,608 with a more than 100-point gap-up. It was a very volatile start, but stabilised before noon. Even with this, there were random selling zones across the whole market as you can see from the red candles. Nifty still crossed all the day’s levels and closed near the high at 14,617, up by 121 points or 0.84%.

Bank Nifty opened at 32,600 and was volatile just like other indices. When the RBI Governor’s press conference started at 10 am, the index fell 470 points in a single minute. Yes, in a single minute it almost broke the 32,000 support. This fall was quickly recovered and the index moved up well afternoon. Bank Nifty closed the day at 32,783, up 513 points or 1.59%

All sectoral indices except Nifty Realty(down 1%) closed in the green. Nifty Pharma(up 4%), and Nifty IT(up 1.2%) were the highlights of the day.

Asian markets remained mixed, with many including Japan and China still being closed. European markets are all trading in the green.

News Picks

The lockdown in India’s most populated state, Uttar Pradesh, has been extended till May 10th.

UK new car registrations posted a 30-fold increase to around 141,000 vehicles in April 2021. But this data is obviously very confusing as last April had very low sales due to lockdowns.

Jaguar Land Rover’s April total sales in UK was reported at 8,367 units vs 18,966 units last month. Parent company Tata Motors still managed to close 0.7% up.

Indigo has reduced its number of flights to 700 from 1,200 flights in February. The stock closed more than 2% up, as the company’s Board will meet on May 7 to discuss raising funds through QIP.

The RBI Governor announced additional liquidity to key sectors participating in tackling the crisis. With this, all healthcare stocks including Pharma, Laboratories and Hospitals shot up in the day. Nifty Pharma closed 4% up.

RBI  will give Rs 50,000 crore in liquidity to key sectors. Banks can provide fresh loans to pathology labs, oxygen suppliers, vaccine makers and hospitals under the priority-sector classification.

Many Pharma stocks including Lupin(up 13.47%), Auropharma(up 6.4%), and SunPharma(up 5.9%) hit multi-year highs. Hospital stocks including Apollo Hospitals(up 4.5%), AsterDM(up 7%) and Fortis(up 2.3%) also benefitted.

News related to cabinet considering IDBI strategic divestment proposal gave some boost and IDBI Bank is up by 4.4%. Funny how every time these rumours happen, the stock moves up.

Adani Enterprises announced their Q4 consolidated net profit at Rs 234 crores, up 282% YoY. But compared to last quarter, profits are down 21%. Board has approved raising funds of Rs 2,500 crore.

Shares of CEAT remained flat even as they posted Q4 consolidated net profit at Rs 153 crores, up 300% YoY. All tyre stocks have already rallied so much in expectation of good sales.

Heavy profit booking kicked into Adani Ports after Q4 results and stock is down by nearly 4%. They are also trying hard to avoid sanctions by the US Government after allegedly striking a deal with the Myanmar Military.

Many Banking stocks also jumped into the Nifty 50 top gainer list after the RBI announcement with a second round of loan restructuring for individuals and MSME industries.

Many fertilizer stocks including UPL, Pi Industries, RCF, Rallis and more ended with good gains in the day.

BHEL gained nearly 8% in the day to gain nearly 30% from April 19th or 20% in the last 5 days. Shares of BEL also gained 4%. 

Godrej Properties extended fall after poor Q4 results, down 4.7% in the day.

Tata Steel closed flat, with market anticipating good results from the company which has rallied 151% in the last 6 months.

Markets Ahead

The RBI Governor’s announcements were taken positively by the market, including liquidity boost to healthcare and small finance banks. The moratorium/restructuring announcement was received well by Bank Nifty. More so, his assurance that RBI will take all means necessary to keep the market stable gave some confidence.

Only five Nifty 50 stocks ended in red. 

As we discussed here yesterday, the fall in Bank Nifty was not extraordinary yesterday. That is why it was not surprising to see the index move back up. 

Even though it was a day where Nifty closed in green, it was with many huge red candles across the whole day. This could have irritated many traders with the market easily covering up these red candles and moving up further.

Looking forward to Tata Steel’s profit numbers this quarter to see if the steel rally will continue power. You can check out this article to read why these stocks have rallied.

Even with the positiveness, Nifty and Bank Nifty could not break yesterday’s high. So it can be called just a day of consolidation. But the strong closing near the end could lead to a gap-up opening in the market tomorrow if global cues remain positive. 14,750 will have to be watched if Nifty is moving up, with good support at 14,500. The highest chance is that market will close in this range.

Bank Nifty still is yet to cross 33,000 and this will be a good level to watch tomorrow if market does not open with a huge gap-up. 33,220 and 33,450 can also be watched as resistance levels. And as support, 32,000 remains strong for the week as we have discussed multiple times.

Stay safe, stay home if you can. Keep looking at charts and improve your skills.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Sharp fall across the market help traders enjoy but worries investors. 

Nifty opened the day at 14,711 with a gap-up. A quick fall of 150 points in the index was almost fully recovered with a slow move upwards. But exactly at 1 pm, the index started falling. Again a 100-point fall which Nifty again tried to recover. 

The next fall was even bigger. After falling another 140 points the index closed near the day-low. Nifty closed the day at 14,496, down 137 points or 0.94%.

Bank Nifty opened the day at 32,725 and was again highly volatile. After taking 32,500 as a support in the morning, the index of Banks tried to break 33,000 level with the help of PSU Banks. With reports of moratorium extension requests, Bank Nifty fell 800 points from the day high and closed the day at 32,270, down 195 points 0.60%.

All sectoral indices except Nifty PSU Bank(up 3.44%) closed in the red. Only Nifty Pharma(down 2%) closed more than 1% down.

Asian markets remained mixed, with many being closed after Labour Day. European markets are also trading mixed, but don’t seem to be affected by Nifty’s fall.

News Picks

The IPL has been suspended as more players in the tournament test positive for Covid-19. With the impact IPL has on the Indian economy, it was no surprise that Nifty fell when this was announced. Possibly it was only now some investors understood the seriousness of the Covid situation in the country.

In other news, Bank Nifty’s fall near the end of the day was due to Bankers requesting RBI to allow a moratorium for 3 months, especially to retail & MSME (Micro, Small and Medium Enterprises) borrowers. Another moratorium request does not look good for the banking industry.

So, IPL suspension and moratorium news triggered the fall in Nifty today.

Fuel prices have been raised for the first time since February 23, as election results are now out. Energy stocks like ONGC, BPCL, HindPetro and GAIL gained some momentum and closed among the top gainers of the day.

Also, oil giant Saudi Aramco reported a 30% jump in net income. The company reported that its net income rose to Rs 1.6 lakh crore in the first three months of the year.

UK and India announce $1.4 Billion(~Rs 10,000 crore) private sector investments including investments by Serum Institute, Infosys and Mphasis. 

Dixon, Info Power, Micromax, Syrma, Orbic and many other companies have filed applications under the PLI scheme for IT hardware.

Alembic Pharmaceuticals posted their Q4 consolidated net profit at Rs. 251 crores, up 11% YoY but a 20% fall compared to last quarter. Q4 revenue rose to Rs 1,280 crores vs Rs 1,207 crores last year, up 6% YoY. The stock price closed more than 2% up in a day when most Pharma stocks saw heavy selling.

Auto components major Motherson Sumi Systems has completed the acquisition of Bombardier’s electrical wiring interconnection systems (EWIS) business in Huehuetoca, Mexico. The stock was 4.5% up in the morning but closed flat.

Tata Chemicals fell 9% after reporting an 85% fall in net profits. The company also said that they are looking into a new Lithium-ion business as orders return back to normal.

Interestingly, Tata Consumer fell 4% after seeing sell-off near its all-time high again.

IDBI Bank reported a nearly four-fold jump in its standalone profit after tax to Rs 512 crore in the March quarter. The stock was up by 4% at one point in time and later fell down along with Nifty. 

All PSU banks were having a blast in the day. PNB closed 8.5% up in the bearish market.

SBI Life continues the rally after Q4 results and is up by 2.5%, just like Marico who closed up 3.5% today.

Shares of Angel Broking hit 20% Upper Circuit the closed 12% up. This rally was in expectation of good Q4 results to be announced today. Tata Steel BSL also closed 14% up.

Markets Ahead

From 10 am to 1 pm, Nifty was consolidating in a 70-point range and Bank Nifty in a 250-point range. And just after this, market fell sharply.

More interesting was despite this fall, PSU Banks still remained in the green. So the concerns regarding the moratorium are not really strong. Bank Nifty falling 800 points intraday is not extra-ordinary these days. This is why I feel the index might take 32,000 as a support this week and consolidate.

But keep watching the 32,000 support. Yesterday there was a false breakdown when Kotak Bank fell during the results announcement. Interested to see if it will hold up in the coming days. 

Reliance closed another 2% down in the day, continuing yesterday’s fall. Contributed the most to Nifty’s fall in the day.

While we expected IT and Pharma to perform well, they did not. Still, Tata Elxsi was up nearly 15% in the day and congrats if you caught the move. Happiest Minds also hit an all-time high in the day.

Now looking into more movement from SAIL to move up in the next few months. Has closed at Rs 130 after a multi-year breakout. But don’t get trapped in a high price in between the volatility!

Markets are continuing on the sell on rise mode, with a heavy resistance being seen at 15,000. Bulls can wait for another week or maybe even more.

Stay safe, stay home if you can. Keep looking at charts and improve your skills.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

The month of May opens with a green candle in the daily chart.

Nifty opened the day at 14,490 with a 140 point gap-down. But even with this, the index closed in green. The first candle went down 80 points but quickly regained this. Nifty started going up very slowly in the rest of the day.

A last hour rally saw Nifty move up above yesterday’s closing level. Nifty closed the day at 14,634, up 3 points or 0.02%.

Bank Nifty opened the day at 32,400 and was highly volatile. It tried to gain some power in the morning but failed. Just after noon, the results announcement from Kotak Bank, and the fall in the stock, saw Bank Nifty falling 400 points in 10 minutes even going under 32,000.

But all these losses were quickly recovered. In fact, Bank Nifty ended at a day-high. Bank Nifty closed the day at 32,465, down 316 points 0.96%.

It was mostly a day of consolidation until the end. Nifty Metal(up 2.16%) again made a lot of investors happy. Nifty FMCG(up 1.10%) and Nifty Media(down 1.35%) were the only other indices to move 1% to red or green.

All Asian markets which opened today are in red, while some including Japan was closed. European markets are trading flat, with London’s stock exchange being closed.

News Picks

The Andhra Govt announced a partial curfew in the state for 14 days starting Wednesday.

Maruti went up 2.2% in the day after reporting positive sales data for April. 

Auto sales data is continuing to come out.

Bajaj Auto‘s sales for the month of April is up more than 5% YoY, to 3.88 lakh units. The stock was in green all day but closed with only 0.5% gains.

Meanwhile, sales data of TVS Motors in April was reported much below estimates. The stock corrected and is down 2%.

Godrej Properties reported a loss of Rs 129 crore against Rs 101 crores in Q4 last year. The stock is down by 4%.

India’s April Manufacturing PMI (Purchasing Managers’ Index) reported at 55.5 vs 55.4 (MoM). The estimate was at 51.6.

NMDC April Production rises 74% to 3.13 Metric Tonne from 1.80 Metric Tonne & sales increase to 3.09 Metric Tonne from 1.38 Metric Tonne (YoY). The stock gained more than 2%.

Q4 consolidated net profit of Varun Beverages was reported to be Rs 129 crore vs Rs 54.9 crores last year. The company’s board also approved a bonus issue in ratio 1:2. The stock rallied by 5% up.

Adani Ports handled cargo volume of 24.46 MMT in April, up 86% (YoY). The stock rallied 4% ahead of tomorrow’s result.

Natco Pharma has received emergency use approval for Baricitinib tablets(used against rheumatoid arthritis) for Covid-19 treatment. The stock is up by 3%.

IDBI Bank reported their Q4 net profit at Rs. 512 crore vs Rs.135 crore last year. Stock closed up by nearly 3%, even when the gross NPA numbers were reported as one of the worst in the industry at nearly 24%.

Kotak Mahindra Bank’s Q4 standalone net profit was posted at Rs 1,670 crore, up nearly 40% YoY. But, the Q4 gross Non-Performing Assets were reported at 3.25% vs 2.26% last month. The result was below the expectations and the stock fell heavily and closed 1% down.

SBI Life Insurance reported a an increase in premium income tp Rs 15,560 crores up nearly 40% YoY. Net profits stayed flat at Rs 531 crores. Stock is up by more than 5%.

Bajaj Electricals has bought the remaining stakes of Starlite Lighting Ltd for a cash consideration of around Rs 60 crore from its promoters. Up by nearly 3%

Amara Raja Batteries has received closure orders from the Andhra Pradesh Pollution Control Board (APPCB) for its plants located in the state. They fell more than 3%. Competitor Exide Industries gained nearly 2.5% in the day.

IndusInd Bank reported a 193% jump in consolidated profit after tax at Rs 926 crore for the March quarter. The stock was up by more than 3 % at one point of time and then fell and closed in red(down 2%) among the top-losers.

After Reliance Industries Q4 results failed to impress investors, the stock fell 1.78% in the day. Most interesting was Reliance Jio’s Average Revenue per User falling. You can read all about the results here.

With this news, shares of Bharti Airtel rallied 4% up to Rs 558 as they have managed to maintain higher ARPUs than Jio.

Titan fell 4%, down for 3rd straight day after announcing results. Meanwhile, Marico shares hit all-time highs after rallying more than 8% after their results.

Markets Ahead

The back-to-back reporting of higher NPA rates by India’s leading banks have scared some investors. This is why we saw Bank Nifty closing in the red even with heavy buying near the end.

Vaccine shortage will continue according to a recent announcement by Serum Institute chief. The only hope now is Pfizer and Sputnik-V vaccines. Also, Drugs Controller General of India (DCGI) is said to review Zydus Cadila’s Zycov vaccine this week.

With all this continuing, and markets reacting negatively to Reliance and Banks results, we can assume that the 15,000 resistance is here to stay for a while longer. Markets may keep seeing sell-offs every time it reaches that level.

In these situations, IT and Pharma stocks may again continue to be the ones leading. Many midcap IT stocks including Happiest Minds(which we discussed few weeks ago) and Tata Elxsi hit all-time highs today. So these sectors are expected to move more, especially with their higher exposure to US clients. The Covid and economic situation in the US is getting better really fast, as vaccinations ramp up.

Bank Nifty may remain weak, until SBI results come out in the coming days. 

Stay safe, stay home if you can. Keep looking at charts and improve your skills.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

A red day to ned the week. Markets close in deep red with financial stocks leading the fall.

After opening at 14,777 with a 120 point gap-down, Nifty tried to move up. 14,850 was taken as a good resistance and then the market did not move up further. Instead, it consolidated for many hours. At around 1 pm, sharp selling started and markets fell consistently till the closing time. Nifty closed the day at 14,631, down 263 points or 1.77%.

Bank Nifty opened with a huge gap-down of 500 points at 33,714. Since the index was not in a mood to move, it consolidated in a tight range till 1 pm. Just like Nifty, the index fell heavily in the last 2 hours. Bank Nifty closed the day at 32,781, down 932 points or 2.77%.

Fin Nifty was down 3% at the close, followed by Bank Nifty(down 2.77%). Only Nifty Pharma closed in the green, up by 1.28%. Nifty Auto and Nifty FMCG closed 1-1.3% down.

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

News Picks

Maharashtra govt extends lockdown restrictions till May 15. Not a good sign for the market, along with the vaccine shortage worries. PVR fell another 4.4% in trade.

AU Small Finance Bank reported an over 38 per cent rise in net profit at Rs 168.98 crore for the last quarter of fiscal ended March 2021. But, the spike in gross NPAs up to 4.25% in March 2021 from 1.68% concerned investors. Sharp selling was seen and the stock closed 10% down.

These worries hit the entire finance sectors hard. HDFC and HDFC Bank closed more than 4% down each. 4 out of the top 5 Nifty 50 losers were finance stocks.

Abu Dhabi National Oil Company (ADNOC) cut the July term oil supply by 20% to some buyers in Asia. Reduction of supply could mean an increase in prices, hence many energy sector companies rallied in the morning.

Nifty 50 top-gainers included 4 companies from Nifty Energy. ONGC(up 4%), Coal India(up 4%), IOC(up 2.19%) and BPCL(up 0.54) were in the list.

Nestle is planning to buy vitamin brand Bountiful Co. from American Global Investment firm KKR for Rs 42,600 crore.

Promoters of JSW Energy releases pledge on 1.3m shares from April 26-27. Share prices closed nearly 1% up in the bearish market.

Marico reported a consolidated net profit of Rs 220 crore for the Jan-March quarter, up 23% YoY. Revenue up 34% YoY to Rs 2,012 crore. Share prices jumped nearly 5% after the announcement but closed flat.

Havells India’s CEO has said that they are reducing production across factories as demand is down by 30%. Share prices fell from the green to close 2.4% down in the day.

Wipro has partnered with Citrix and Hewlett Packard Enterprise to accelerate remote working solutions and bring modernisation into workspaces. Wipro shares went up till 4% in the morning session, but closed flat.

Markets Ahead

The results of AU Small Finance Bank have highlighted the risks for investors in finance companies. The rising NPA cases have always been a cause of worry, but HDFC Bank and ICICI Bank posted really good results.

But it is a chain reaction which the industry does not want to go into. A series of NPAs across banks will be hard on the entire financial system of the country. This is mostly why the sector fell sharply today.

Confidence might soon come back in those companies which are big enough to raise capital to sustain. That is companies like market leader HDFC Bank or the government-backed SBI.

And like we discussed yesterday, the sell-off after Nifty hit 15,000 was very much expected to continue today as well. Profits are being booked by DIIs who rode the wave from 14,150 to 15,000.

Nifty has fallen 150 points from the opening level of April 1, to create 2 back to back red candles in the monthly chart. 

A quick jump is expected in the first days of May, and the next time Nifty tests 15,000 it will be very decisive. Chances are the 15,000 resistance is here to stay for a bit more. 

But keep getting into your favourite stocks in these dips, because the market is here to stay and it will go up eventually. But when? We will have to see.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

The market was a bag of mixed emotions today. And another weekly expiry with some volatility!

After opening at 14,987 with a 120 point gap-up, Nifty flew up above 15,000 with ease. But the move could not sustain. In the next 2 hours, the index fell 230 points to reach back to yesterday’s levels. With 14,800 being taken as a support, the index tried to move back up but could not cross 15,000 again.

Nifty closed the day at 14,894, up 30 points or 0.20% for the day.

Bank Nifty opened with a modest 200 point gap-up at 33,959 and went up to 34,250 with ease. But profit-booking brought the index down 1000 points by 11 am. After this, the index of banks could not cross 34,000 again even though it tried to. Bank Nifty ended flat to yesterday’s close, at 33,714, down 8 points or 0.02%.

Nifty Metal again surprised the market by rallying up 4.53% in the day. Nifty Auto closed 0.99% down. No other index closed more than 1% up or down.

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

News Picks

The Competition Commission of India (CCI) has cleared the mega-deal of Tata group to acquire BigBasket. Markets have already accounted for this in Tata Consumer Products’ price, so the stock price did not move much.

Morepen Laboratories has approved raising over Rs 433 crore through the issue of shares to Switzerland’s private venture capital firm Corinth Investment Holdings and Liquid Holdings. The stock gained nearly 9% today, and has now gained nearly 18% in the last 2 days.

Reliance Industries is reported to have held talks with Saudi Aramco to sell stake in petrochemical business. The stock rallied up sharply in the morning but came down and closed up by 1.2%. 

Hindustan Unilever reported a net profit of Rs 2,140 crores for Q4 compared to Rs 1,515 crore YoY, up 41%. Declared Rs 17/share dividend. The stock gained sharply after the announcement but closed flat.

Bajaj Auto reported their Q4 consolidated net profit at Rs 1,330 crore vs Rs 1,350 crore last year. The number was in line with estimates. Rajiv Bajaj stepped down as the non-executive chairman. The stock fell steeply from day-high and closed 1.4% down.

In fact, all two-wheeler stocks corrected after yesterday’s rally and can be seen in Nifty’s top-losers section below.

Nifty Metal moved up by 4.5% led by JSW Steel(up 9.6%), SAIL(up 8.7%) and Tata Steel(up 6.1%). Tata Steel has crossed the Rs 1,000 mark. JSW Steel is now India’s 25th largest company in market cap. Hindalco went up 2.63%. This is due to the increasing prices of metals across the world and China cutting import tariffs to 0% on steel, as we discussed yesterday.

After the good Q4 results yesterday, Bajaj Finserv continues its rally and is up by 6.5%. Bajaj Finance also moved up by 3.8%.

Markets Ahead

By closing just 30 points up today, Nifty has closed with gains in all 4 days of the week.

In regards to our discussions yesterday, FIIs turned net buyers and Nifty has touched 15,000. In fact, if Reliance did not have such a gap-up opening, Nifty would have only reached to 15,000 level and fallen.

And with regards to last week’s discussion, the upward journey for this expiry session is complete as we expected. Nifty has gone from 14,151 last Thursday to 15,050 today. That is nearly 900 points in just a week.

The 15k mark has been touched after nearly 45 calendar days, and I am guessing it won’t be too easy to cross. We will need more push and a return of Foreign Institutional Investor buying in thousands of crores, otherwise, DIIs will start booking profits at these levels.

Today’s high for Nifty and Bank Nifty can be watched out for as resistances in the coming days.

Selling pressure did come at the top and the index has now shown that 14,800 is a good short-term support for Nifty. 33,300 can be the next important support for Bank Nifty.

Stay safe, stay home and do wear a mask if you are going out.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Once again, a bull attack in Nifty. Markets moving steadily upward in the day, with Banks and Financial stocks leading the charge.

Nifty opened the day at 14,712 with a 60 point gap-up. Unlike other days, there was no confusion today. The index was only in the mood to go up. After crossing 14,750 resistance, then it was a smooth journey up. Gaining nearly 200 points from the day low, Nifty closed at 14,864, up 211 points or 1.44%.

Bank Nifty was highly bullish after opening at 32,878. The level of 33,100 was taken as a resistance which was easily broken after 11:45 am. Just around this time, the index started flying, and it did not stop with all members of the index closing 1-6% up. Bank Nifty closed the day at 33,772 up 987 points or 3.02%.

Bank Nifty(up 3%) was the highest gaining sectoral index followed by Fin Nifty and Nifty PSU Bank up nearly 2.7% each. No sector closed more than 1% down.

Major Asian markets closed mixed in the day. European markets are currently all trading slightly in the green. The positivity was not from International markets today.

News Picks

Shares of TVS Motors gained 14% after Q4 net profit numbers grew 4 times from that of last year. The two-wheeler manufacturer claims to have outpaced the competition in its sales growth numbers.

With these profit numbers, shares of peer companies Eicher Motors(up 5%) and Bajaj-Auto(up 2.75%) also gained.

Goa announces a complete lockdown from the evening of April 29 to May 3. Casinos, hotels, pubs will be closed. DeltaCorp fell sharply after the news and closed nearly 1.5% down.

Food delivery platform Zomato has filed its Draft Red Herring Prospectus (DRHP) with SEBI India today. Info Edge(up 1%) owns a considerable stake in the company. Zomato will offer equity shares aggregating up to Rs 8,250 crore

There were reports of China cutting import tariffs on some iron, steel products to 0%. Steel stocks moved heavily after the news as this means that export to China could increase. SAIL closed 3.34% up, but the Nifty Metal index closed 0.5% down.

Aurionpro Solutions and MasterCard signed a strategic alliance for automatic fare collection & payment solutions. Aurionpro is up by 6%. A good time to look into the small-cap?

Morepen Lab’s board clears $100 million(~Rs 750 crore) investment from Switzerland-based Corinth Group. The stock went up to hit 10% upper circuit.

State Bank of India has approved its long term fundraising plan, to raise up to Rs 14,896 crore. The stock gained nearly 3% along with other banks.

Yesterday, Axis Bank posted a consolidated net profit of Rs 2,960.40 crore for Q4, against a loss last year. But with worsening asset quality being a worry, it underperformed Bank Nifty. Axis Bank closed nearly 1% up in the day.

With Nifty getting back to bullish mode, banking stocks including IndusInd Bank, ICICI Bank, Kotak Bank, SBIN, HDFC Bank closed as Nifty 50 top gainers.

Bharti Airtel backed OneWeb has secured $550 million (about Rs 4,100 crore) in funding from Eutelsat Communications. The stock moved 1.7% up.

Bajaj Finserv net profit grows more than 5 times to Rs 979 crore in Q4 compared to the same quarter last year. The stock is up by nearly 4%.

Yesterday, subsidiary Bajaj Finance reported a higher consolidated profit at Rs 1,347 crore in Q4, up nearly 40%. The stock gained 8.5 %. It topped the Nifty 50 gainers list. 

FMCG stocks remained weak in the day after Britannia’s Q4 results failed to excite investors. Britannia closed 1.76% down as Nifty 50’s top loser.

Markets Ahead

With the Q4 results coming in one by one, markets have turned bullish once again. Well IT stocks reported good profits mostly as expected. But the banks and NBFCs too, including the Bajaj Twins, ICICI Bank and HDFC Bank. 8 out of the top 10 gainers in Nifty were Banks or NBFCs.

Bank Nifty easily broke the 33,000 resistance zone in the day, with Nifty moving up to 14,800 and beyond. If you look at the charts, a good resistance zone can be seen at 14,890-14,900 where the Nifty fell from today. With more power from HDFC(up 2%) and Reliance(could not close above Rs 2,000), this will not be an issue for Nifty. 

A lot of options players have been betting for the markets to move up. But the journey above 15,000 would probably only be seen when FIIs turn net buyers. With only 2 more trading days left in the calendar month, will we see it happen?

Those who went out shopping during the dip can comfortably book their easy profits now. And those who waited for the crash to 13,000 can keep waiting.

Stay safe, stay home and do wear a mask if you are going out.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

In a day dominated by bulls, all sectors in the market move up and close in the green. 41 out of the Nifty 50 stocks close positive.

Nifty opened the day at 14,509 and started to move up soon. After breaking 14,550 which was yesterday’s high, the index found its pace. Slowly and steadily, the index started moving up breaking 14,600 in the process. Nifty closed the day at 14,653, up 168 points or 1.16%.

Bank Nifty opened at 32,281 and created a very confusing first candle. 32,300 and 32,500 were taken as good supports in the way up. With HDFC Bank and SBI both moving up, Bank Nifty found it easy to rally. After testing 32,800 Bank Nifty closed the day at 32,735 up 460 points or 1.43%.

Nifty Metal and Nifty PSU Bank(up 2.30%) both went up most in the day. Nifty Bank and Nifty Media closed more than 1% up. All other sectors closed under 1% in the green.

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

News Picks

RBI issued guidelines for the appointment of auditors in Banks, NBFCs. This is to ensure that auditors are appointed in a timely, transparent, effective manner. Banking and NBFC stocks reacted in a good way.

The Supreme Court allowed Vedanta to operate the oxygen plant in Tuticorin on a standalone basis. Stock is up by nearly 3%.

Zydus Cadila’s new drug ‘Virafin’, which is considered successful in the treatment of Covid patients, will soon be available in three districts of Uttar Pradesh. Shares of Cadila gained from deep reds, but still closed 1.19% down in the day.

Maruti Suzuki India’s net profit falls below estimates. Q4 profit was declared to be Rs 1,170 crore, down nearly 10% compared to last year. Do not forget that last Q4 was considered to be a bad performance due to Covid-19 and Maruti has performed worst than that. The stock closed 1% down.

Shares of Tata Motors gained 2% in the day, moving up sharply after the Maruti results.

SBI will be holding a board meeting on April 28 to consider raising Rs 14,938 crore. It will be likely used to protect the loan book against bad-loans due to the lockdowns. Shares of the banker gained nearly 2.5-3%.

Hindustan Zinc net profit for Q4 stood at Rs 2,480 crore, up 85% YoY. The stock ran like anything after the results and is up by 4.5%.

SBI Cards and Payment Services reported a 110% rise in net profit at Rs 175 crore for Q4. The stock is up by 3.6% in the day.

HDFC Life Insurance reported a 2% increase in its standalone profit after tax to Rs 318 crore in the quarter ended on March 31, 2021. Stock is down by 3.6% after many days of moving up. But still, income from premiums have grown at 23% and this might be a good dip to add/average the stock if it is in your portfolio.

Copper prices hit all-time high. Hindalco, the aluminium and copper manufacturing company, became the top gainer of Nifty 50, up by 5.14%.

Steel plants in the country are supplying liquid medical oxygen (LMO) to various states amid rising demand. Tata Steel has increased its daily oxygen supply limit to 600 tonnes a day. JSW Steel is preparing to lower steel output to boost oxygen supply.

Many factors including robust demand from China and falling demand from Chile have taken up Metal prices. All stocks from Nifty Metal closed in the green, except SAIL.

Chemical companies saw heavy buying with many rallying up with huge volumes. Deepak Nitrate closed nearly 9% up, followed by Navin Fluorine up 8%. 

Other speciality chemicals shares were also up. Alkyl Amine, Balaji Amines both gained 20%. Sudarshan Chemicals(up 16.47%) was followed by GNFC(up 12.67%).

Markets Ahead

With the vaccine hopes and improved reports of new efficient drugs against Covid-19, markets have continued the journey up. This is exactly what we talked about in Friday’s postmarket report, that markets are set to move up from here.

And interestingly, the private banks’ results have also cheered up the market. With this and Nifty closing above 14,500, we might see more movement up in the coming days. If this happens, a change of sentiments could take Nifty to 14,800 and maybe close to 15,000. Reliance is also back in the bullish mode, up nearly 2.5% today.

Bank Nifty has 32,800-33,000 as the next important resistance zone.

But all this cannot be done without the help of Foreign Insitutional Investors who have sold sharply in April till yesterday. Hoping for many days of FIIs turning net buyers ahead.

Wishing that the Covid situation in India turns around and becomes stable like the market has moved back up. Stay safe everyone!

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

Nifty consolidates after the week begins with gap-up.

Nifty opened the day with a gap-up at 14,458 and was very volatile. After moving up nearly 100 points from the opening level, the index got tired for the rest of the day. As Banks slowed down their rally, Nifty fell slowly over the whole day. Nifty closed the day at 14,485, up 143 points or 1%.

Bank Nifty opened at 32,260 with a 500 point gap-up mainly helped by ICICI Bank. As it tried to move up further, heavy profit booking was seen near 32,600. Before noon, the index had peaked and started falling slowly. Bank Nifty closed the day at 32,275 up 552 points or 1.74%.

Nifty Realty(up 3.4%) was the best performing sector followed by Nifty Metal(up 2%). Only Nifty Pharma closed in the red, down 0.87%.

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

News Picks

The Karnataka government has imposed a 14-day lockdown in the state. 

With ICICI Bank reporting a more than three-fold jump in its standalone net profit at Rs 4,402 crore, which is still below analyst estimates. The stock was up by 6% at one point in time and closed the day at 3.7% up.

With this confidence, Axis Bank actually moved up to be the day’s top gaining Nifty 50 stock. It closed above ICICI Bank, up 4.33%.

Cement stocks again did well in the day with UltraCemco(up 3.4%), Ambuja Cement(up 2.7%) and ACC Cement(up 1.3%) leading the charge. Shree Cements closed flat.

Mahindra & Mahindra Financial Services reported an 8% fall in its consolidated net profit at Rs 219 crore for Q4. Managing Director Ramesh Iyer said that the Heavy commercial vehicle business didn’t do well in Q4, and that growth momentum should not be expected this quarter. The stock closed down by 8.75%. 

Dabur fell 3.33%, extending its fall after hitting a market cap of Rs 1 lakh crore earlier in the month.

JSPL is in the final stages to divest off Power arm Jindal Power; Promoter entities keen to buy Jindal Power for valuation of about Rs 8500-9000cr. JindalStel shares closed 1.35% up after being up more than 3% in the day.

Natco Pharma said that Covid-19 patients treated with antiviral drug Molnupiravir achieved response within 5 days of therapy which indicates good results within short periods. Shares of the company closed nearly 4% up.

InfoBeans Tech approved the buyback of shares up to Rs 10 crore at Rs 232/share.

Mindtree has partnered with US-based Insurance Tech company Duck Creek to improve the customer experience for US-based UPC Insurance customers. Share prices closed up 2.30%.

Indiabulls Housing Finance fell sharply after news of Mumbai Police registering a FIR against the Indiabulls Group. Shares recovered to close 1.5% down at the end of the day.

Ingersol Rand said that oxygen compressor demand is rising and is up by nearly 3 times. Share prices closed nearly 6% up.

The Tamil Nadu government allowed Vedanta’s Sterlite Industries plant in Tuticorin to produce oxygen for four months. The stock closed up by 3.7%.

With Steel prices rising higher, metal stocks did well over the day. SAIL crossed a 40-month high to close nearly 8%.

Insurance shares continued to be in rally with ICICI Prudential Life gaining 6% followed by ICICI Lombard gaining 5%. The industry is also expecting double-digit growth in net profit numbers of HDFC Life soon, whose shares closed 3% up. SBI Life closed near 1.8% up.

Shares of Phoenix Ltd closed 14.37% up with an after-noon rally. The stock is still 6-7% down from its 52-week high.

Markets Ahead

Markets have gained today, but Nifty was not confident to close above 14,500. The consolidation is a sign that the market is still observing and learning the situation before deciding to go which way to go. 

But one interesting fact is that, for the last 3 Monday’s, markets opened with a gap-down. But today it opened with a gap-up.

Any bullish move in Nifty will have to be supported by Reliance or Bank Nifty. Interestingly, Reliance closed 1.7% up today. Private Banks led by Axis and ICICI Bank. So it might be the chance for Nifty if this uptrend continues.

A fresh new week, and a lot of consolidation. As we enter the last week of April. We are nearly 300 points down from where we were on April 1st.

Continuing to buy up my portfolio stocks in limited quantities each day. You can never time the market perfectly, so doing the next best thing and averaging in dips.

14,000 remains as a strong support for this week in Nifty, with Bank Nifty having 30,000 as the level. On the upper side, Nifty will find it hard to break 14,550 and 14,700 after last week’s sharp gap-downs.

Catch you all on The Stock Market Show tonight!

Today’s Market Summarised

A day of volatile consolidation in the market. Nifty went up, then it went down. And then it closed right where it opened the day at.

After opening the day with a gap-down at 14,337, Nifty traded in a 75-point channel for the first one hour. Just before noon, it even crossed yesterday’s high and tried to move up. From the high, selling pressure across all major stocks took Nifty down nearly 200 points. Nifty closed the day at 14,341, down 64 points or 0.45%.

Bank Nifty opened at 31,552 and was very volatile in the first hour. But even in a day of net consolidation, Bank Nifty moved 750 points from the day’s low to high. With the afternoon profit booking, Bank Nifty fell nearly 600 points then closed at 31,772, down 60 points or 0.19%.

Only Nifty Media and Nifty PSU Bank closed in the green today. But no index, except Nifty Realty(down 1.10%), moved more than 1% up or down.

Major Asian markets closed mixed. European markets opened and have started falling sharply, possibly influencing Nifty’s fall today.

News Picks

Zydus received emergency use approval from DCGI for the use of ‘Virafin’ for treating moderate Covid-19 cases. Interestingly, 91.15% of patients treated were RT-PCR Negative by Day 7. Cadila HC gained 3.32% in the day.

Shares of PVR(up 5%) and Inox Leisure shot up after the Cadila report. Indian Hotels closed 5% up.

Markets tried to move up with this news, with all pharma stocks moving up after this news hit. 

Maharashtra Health Minister says that Mumbai oxygen issues resolved, Remdesivir distribution issues will be resolved in two days. Pharma stocks remained weak in the day, but gained in the final hour.

Pfizer said that report/tweets that Pfizer is currently in discussions with Aurobindo over the Covid-19 vaccine agreement are inaccurate & baseless. 

Current reports say that Dr Lal Pathlabs has not stopped RTPCR collection and testing it as per capacity. The stock had fallen after reports of Delhi

Germany’s Linde and the Tata Group secure 24 oxygen transport tanks for India. You can check the article about Linde India here.

Powergrid Infrastructure Investment Trust files for IPO. It comprises fresh issue of up to Rs 4,993 crore. Share prices closed 3.78% up constantly from the start of the day.

Torrent Power will set up a 300 MW capacity solar power plant in Gujarat at an estimated cost of Rs 1,250 crore. Stock is up by 2.3%.

Tata Elxsi net profit has increased 40.3% to Rs 115.16 crore in the March 2021 quarter. The stock opened with a huge gap up and ended 5% up.

Zomato founder Deepinder Goyal denies IPO RHP filing after reports of filing Red Herring Prospectus with SEBI. Naukri closed 1% up.

Insurance stocks moved up, with ICICI Prudential Life(up 4%) and HDFC Life(up 1.5%). SBI Life was up more than 4% but closed flat at market close.

Finance stocks went up in the day, especially midcaps. SRTransfin closed 4% up, followed by M&M Finance, MFSL, Manappuram up 1-2%. Muthoot Fin was up 4.7% in the day.

Shares of Indus Towers fell more than 3% after reporting net profit increase of 38% Rs 1,364 crore in Q4 compared to last year. But the profit numbers remained flat compared to last quarter.

Markets Ahead

Compared to last Friday’s close, Nifty has fallen nearly 260 points this week. But this week has ended with net consolidation if you look at the weekly charts. Interestingly, Nifty has fallen for three weeks in a row, the longest row of losses in 11 months.

Reliance’s fall of 1% and HDFC’s fall of 3% from last Friday has made Nifty’s weekly close worse than that of Bank Nifty’s. Who would have guessed!

30,000 continues to be strong support for Bank Nifty as we discussed last Friday. Nifty has reached 14,200 this week, and 14,000 is the next strong support if it is broken strongly.

The drug developed by Zydus looks very promising. If it can really cure 90% of mild Covid-19 cases within 7-days, then the pressure on hospitals and the economy will reduce. This might be a turning point for our market if global markets had supported as well.

Once the US market stabilises after the Biden announcement of increasing taxes, our markets may turn around next week. So enjoy your weekend, but don’t forget to put some time in for studies as well!

Catch you all on The Stock Market Show tonight!