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 55.3% of traders are net-long, while the number of retail traders net-short was 44.7%. FII’s unwinded decent longs -2373 & created decent shorts 2818, while retailers created very few longs 312 & unwinded huge shorts -10649.
Nifty50: 14,929 ▼ 101 (-0.6%) Sensex: 50,395 ▼ 397 (-0.7%)
After a weak opening, the markets kept sliding down but saw some buying interest toward the latter half of the session. However, weakness persisted and 27 of the Nifty50 stocks closed in the red. Among the Nifty sectoral indices, Metal (+1.0%) and IT (+0.5%) were top gainers, whereas Media (-1.4%) and Pharma (-1.3%) lost the most ground.
Top gainers Today’s change
JSW Steel ▲ 2.4%
Tech Mahindra ▲ 2.3%
Tata Steel ▲ 2.2%
Top losers Today’s change
Divi’s Lab ▼ 2.9%
Bajaj Fin Serv ▼ 2.7%
GAIL ▼ 2.5%
MTAR lists at bumper premium
Shares of the Hyderabad-based precision engineering company debuted on the NSE with an 83% premium over their issue price of ₹575. The stock was able to hold on to the gains till the close of the day.
This week is packed with IPOs. Laxmi Organic and Craftsman Automation opened for subscription, Kalyan Jewellers is due for tomorrow, while Suryoday Small Finance Bank and Nazara Technologies open on Wednesday. You can subscribe to these IPOs with Upstox here.
Godawari Power cleared for capacity expansion
The Raipur-based iron-ore pellet maker has received government clearance to enhance the capacity of its plant from 21 lakh to 24 lakh tons per annum.
In addition to the capacity expansion, the company has been permitted to modernise the existing plant. The company plans to fund these projects through internal accruals. The stock surged nearly 14% and also hit its 52-week high today.
JSPL sales volume rises on yearly basis
Metal major, Jindal Steel and Power reported a 14% YoY growth in sales for February. The company was optimistic about growth and said that it will enhance production further, without any new capex in this fiscal.
The share of exports rose to 26% of the total sales volume, after falling for five months in a row. That is because the company focussed on the more profitable international market. The stock gained 2.4% in a weak market.
Ahluwalia Contracts gains on project win
Shares of engineering and construction company Ahluwalia Contracts gained (+1.7%) in an otherwise weak market. The company has bagged an order worth ₹128 crore for the construction of a state guest house in Bihar.
With this, its total order inflow in FY21 stood at ₹2,214 crore. Since the start of 2021, its shares have gained nearly 15%.
At one point, it seemed that markets would throw in the towel due to the relentless selling pressure. The consumer and wholesale inflation numbers are higher than street expectations. The culprit—fuel prices—are not showing any signs of cooling off. This is the cause of concern for the markets since rising inflation does not leave room for any further rate cuts. Today, the buying in metals and IT supported the benchmark indices. However, if the markets tread lower, traders could lose confidence, at least in the short term.