Zubu Client Sentiment Nifty50 Report:
It is a Post Market Analysis, by which one can understand Retail trader’s sentiment and discover who was going long and short, the percentage change over time, and whether market signals are bullish or bearish.
Nifty50 retail trader data shows 45.76% of traders are net-long ,while the number of retail traders net-short was 54.24%. FII’s created huge longs 9080 & unwinded decent shorts -2815, while retailers unwinded few longs -147 & created huge shorts 4997.
The markets extended their rising streak for the ninth day in a row. The market breadth was also positive with 37 of the Nifty50 stocks rising.Among the sectoral indices, Nifty Metal (+5.0%) and Nifty IT (+2.6%) were the top gainers, whereas the Nifty Bank closed flat.
Steel stocks upbeat on record volumes
Jindal Steel and Power (JSPL) sold 7.1 lakh tonnes of steel in December 2020, its highest ever monthly sales. The company recorded a volume growth of over 25% versus December 2019.
Shares of JSPL rose by 6.8%. Further, the recent industry-wide price hikes and upbeat analyst expectations for Q3 earnings augur well for steel stocks such as Tata Steel (+8.3%) and SAIL (+6.8%).
Alkyl Amines soars on stock-split plans
The speciality chemical company will consider a stock split and an interim dividend during its upcoming board meeting. The company also said it aims to set up new projects, including those for manufacturing amines.The stock gained 17.2% today and rallied over 250% in 2020.
Marico gains on optimistic outlook
Marico’s Indian business (accounting for 77% of revenues) saw a double-digit revenue growth in Q3, as per its quarterly update. Its shares rose 2.6% after the company said that it maintains an optimistic outlook for FY21.A recovery in the consumer sentiment, the festive season and a declining Covid graph were the highlights of the quarter. Further, the company was able to introduce price hikes to beat the inflationary pressure seen in raw materials.
Multiplexes rally on capacity hike
Investors lapped up stocks of multiplex operators such as PVR (+4.4%) and Inox Leisure (+6.3%) after the Tamil Nadu state government increased the seating capacity limit from 50% to 100%.
The rise in multiplex shares was backed by strong volumes. The move could also nudge other states to relax restrictions.
The steady manufacturing PMI numbers reinforced the all-round market bullishness. Further, as the Q3 results season starts, the action in stocks of companies that release their numbers early is likely to rub off on other stocks in their sector. This typically creates volatility in those stocks when expectations don’t match the actual results.