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 51.43% of traders are net-long ,while the number of retail traders net-short was 48.57%. FII’s created very few longs 171 & unwinded decent shorts -4843, while retailers unwinded decent longs -5769 & created decent shorts 1183.
The Nifty50 opened with a gap-up, definitively crossing the 15,000, and kept nudging up nearly throughout the day. Among its constituents, 40 closed with gains. In the Nifty sectoral indices, the Metal and Auto were the top gainers, rising about 3.1% each. Meanwhile, PSU Bank (-1.0%) and FMCG (-0.5%) receded the most.
Mrs Bectors posts robust profit growth
The company that recently went public has reported an 86% YoY growth in its profit after tax to ₹21 crore during Q3. Its revenues grew 11% YoY to ₹226 crore.
Its bread-bakery and biscuit exports grew 38% and 21% YoY, respectively, helping overall revenue growth. The institutional bakery sales fell 32% YoY due to Covid-19 restrictions. However, sales are picking up as restaurants have opened after the relaxation of restrictions. The stock closed almost flat (-0.2%) today.
Gujarat Gas soars on impressive Q3
The Ahmedabad-based gas distributor nearly doubled its Q3 profits year-on-year to ₹392 crore. Revenues rose about 13% to ₹2,885 crore supported by a 23% YoY growth in gas sales volumes.
Improvement in sales, lower gas cost and reduction in finance costs led to the surge in profitability. Following the result, the stock closed with gains of nearly 14%, supported by strong volumes.
Affle gains after strong quarter
The mobile-marketing services provider reported a 59% surge in revenue from operations in Q3 at ₹150 crore. Meanwhile, profit after tax grew 49% to about ₹30 crore.
While the average cost per converted user (CPCU) remained broadly constant over the year, it saw a 50% YoY jump in the number of converted users to 30 million users. The stock gained nearly 3% today.
Crude oil continues to climb
The price of crude oil is on a rise for the fourth month in a row. The price rise is supported by a unique situation wherein the demand outlook is improving as vaccine rollout gathers pace across the world.
The supply, on the other hand, is under control as the OPEC+ nations continue to maintain output cuts. Crude oil has risen over 10% this month.
Today, the Indian indices rose for the sixth straight session, supported by favorable cues from global equity markets. Last week saw two major events—Union Budget and RBI policy meet.
The next event to look forward to will be the consumer inflation data, which is expected on Friday. The street estimates it at around 4.40% (down from 4.59% in the previous reading). In recent months, the markets have had a number of rallies that ran for several days, followed by sharp corrections. Traders need to watch for such patterns.