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 43.55% of traders are net-long ,while the number of retail traders net-short was 56.45%. FII’s created huge longs 10256 & unwinded few shorts -646, while retailers unwinded few longs -368 & created huge longs shorts 9385.
After a gap-up opening, the markets continued their upward journey. The market breadth was strong with 41 out of the Nifty50 stocks closing in the green. Among the sectoral indices, Nifty IT (+3.6%) and Nifty Auto (+3.3%) gained the most, whereas Nifty Metal (-0.6%) and Nifty PSU Bank (-0.4%) were the top losers.
IT stocks on a roll ahead of TCS Q3 earnings
Sector leader, TCS gained 2.9% today ahead of its Q3 results, which will be announced after market hours. Analysts expect QoQ growth of around 4% on constant currencyterms. Apart from this, the street is expecting an upbeat outlook from the management.
The rub-off effect was seen in shares of other IT companies, as they surged nearly 6% in intraday trade today. IT giants Tech Mahindra (+5.3%), Wipro (+5.2%) and Infosys (+3.9%) were among the top 5 Nifty50 gainers today.
M&M drives up on price hike
The auto major has announced a price hike of 1.9% across its personal and commercial vehicles effective immediately. After the hike, Mahindra cars will be dearer by ₹4,500 to ₹40,000.
The company cited increasing input costs as the reason for raising prices across its range. The stock gained 3.0% today, and has risen nearly 19% in Q3. Price hikes help to maintain margins, till they start affecting demand.
Biocon arm bags investment from Abu Dhabi
Biocon Biologics, a subsidiary of Biocon, has bagged a ₹555 crore equity investment from Abu Dhabi-based ADQ for a 1.8% stake.
The transaction values the biologics business at $4.1 billion and after the transaction, Biocon will hold 89.8% in the company. After news of the investment, Biocon shares closed with a gain of 2%.
Phoenix Mills rises on upbeat Q3 update
The realty major stated that it witnessed a sustained recovery in demand across its malls, commercial, residential and hospitality properties. Consumption across its retail portfolio in Q3 stood at ₹1,370 crore, up 66% from last year.
The stock rallied about 8.8% in the day and closed with gains of 4.7%. It hit its highest levels since March and has gained nearly 33% in Q3.
After a brief pause over the last two days, the markets continued their parabolic rise. This week, the Nifty50 gained 2.3%, despite the index heavyweights—Reliance Industries (-2.7%) and HDFC Bank (+0.4%)—underperforming. While the rise in the markets is unabated, one must note that it is in line with equity markets of other major countries. For the time being, traders may want to “make hay while the sun shines.”