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 55.29% of traders are net-long, while the number of retail traders net-short was 44.71%. FII’s created huge longs 5067 & huge shorts 3872, while retailers created huge longs 7775 & created very huge shorts 13891.
Nifty50: 14,938 ▼ 142 (-0.9%)
Sensex: 50,405 ▼ 440 (-0.8%)
The Indian markets continued to slide today with broad-based selling, as 38 of the Nifty50 stock fell today. All of the sectoral indices ended in the red, with the Nifty PSU Bank (-3.9%) and Nifty Metal (-2.7%) indices falling the most.
Top gainers Today’s change
ONGC ▲ 2.4%
GAIL ▲ 1.7%
Maruti ▲ 1.6%
Top losers Today’s change
IndusInd Bank ▼ 4.4%
Wipro ▼ 3.8%
Tata Motors ▼ 3.7%
Heranba makes a strong market debut
The agri-chemicals maker listed at a 43% premium on the exchanges today on the back of strong demand for the stock. The public issue, which closed last week, was oversubscribed 83 times.
Heranba is the leading producer of pesticides and insecticides, with 50% of its revenues coming from exports. The stock closed at ₹826, about 32% higher than its issue price of ₹627.
Oil and gas stocks surge on rising crude
Stocks of oil and gas majors such as ONGC (+2.4%) and GAIL (+1.7%) rose amid a weak market, as crude oil prices rose 6% over the last two days. Crude’s ongoing rise was extended after the OPEC+ nations announced that they will maintain the present production levels through April.
Further, oil exploration companies such as HOEC (+2.5%) and Aban Offshore (+4.9%) bucked the weak market trend and closed with strong gains.
Voda-Idea fundraiser hits bad network
Vodafone-Idea’s fundraising plans with a consortium of lenders, led by Oak Hill, has hit a bottleneck over unresolved funding terms, reports suggest.
The debt-laden telecom company was reportedly in talks to raise $2 billion (~₹ 15,000 crore) in an attempt to expand its 4G network. The fundraiser was part of the ₹25,000 that the company planned to raise via a combination of debt and equity. The stock closed 3.1% down today.
Quick Heal surges on buyback plan
Shares of the security software maker shot up 8% intraday to hit a 52-week high after the company announced that its board will consider a buyback on 10 March.
The company had a weak Q3, with profits declining by 24% YoY due to higher R&D and advertisement expenses. Its share has languished since the start of Q3 and has underperformed the broader indices. The buyback announcement fueled interest in the stock, which closed 4.4% higher in an otherwise weak market.
While the Nifty50 gained 2.8% on a weekly basis, the sentiments toward the end of the week were not particularly encouraging. First, most international equity markets were weak today. Second, the sudden rise in the 10-year government bond yields and the rising US dollar index are a cause of concern for the Indian equity markets, too. Further, foreign investors have been net sellers so far this month after a positive start to 2021. Given the 15% rise in India VIX in the last two days, there could be a rise in volatility in the coming week.