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 53.9% of traders are net-long, while the number of retail traders net-short was 46.1%. FII’s created decent longs 1389 & unwinded marginal shorts -829, while retailers unwinded huge longs -4421 & created huge shorts 5709.
Nifty50: 14,910 ▼19 (-0.1%) Sensex: 50,363 ▼31 (-0.0%)
The markets opened with a gap-up and stayed in the green in the first half, but slipped back into the red towards the end of the session. The market sentiment was negative overall, as 29 of the Nifty50 stocks declined. Among the sectoral indices, the Nifty IT (+1.2%) and Nifty FMCG (+0.9%) posted the strongest gains, while the PSU Bank (-1.3%) and Nifty Bank (-1.0%) index were the top losers.
Top gainers Today’s change
Asian Paints ▲ 4.7%
Dr Reddy’s ▲ 2.5%
HUL ▲ 1.5%
Top losers Today’s change
Cipla ▼ 1.5%
Tata Steel ▼ 1.5%
ICICI Bank ▼ 1.4%
Gland Pharma soars on vaccine deal
Gland Pharma has reached an agreement with the Russian Direct Investment Fund (RDIF) to produce and supply up to 25.2 crore doses of the Sputnik V COVID-19 vaccine.
It is expected to start producing the vaccine from Q3 2021 and delivering them from Q4 2021.
The company said that its expertise in manufacturing sterile injectables at a significant scale will help ensure a stable supply of the vaccine. The stock, which listed on the exchanges in November 2020, rose 4.8% today and is already up nearly 78% from its issue price of ₹1,500.
Paper stocks up on single-use plastic ban
Shares of paper manufacturers rose after the government proposed a ban on single-use plastics used in the packaging of ice-cream, cigarettes, sweet boxes, etc. The ban could boost demand for packaging boards used in delivery boxes.
Further, in the wake of the pandemic, demand for disposable paper cups, bowls, cartons, etc. is expected to rise as substitutes for single-use plastics. Stocks like Emami Paper (+19.9%), West Coast Paper (+7.9%) and Orient Paper (+4.2%) surged today, amid a weak market.
L&T strengthens order book
The infrastructure major announced that it has secured new orders across its domestic business segments.
Its water and effluent treatment business bagged two water supply project orders in Orissa, while its buildings and factories division received a contract to build a 10,000 TPD (tonnes per day) cement plant in Rajasthan. The size of the orders is in the range of ₹1,000–2,500 crore. Despite the positive news, the stock closed 0.6% lower in a weak market.
HG Infra bags order from NTPC
The road infrastructure company has received an order from NTPC to transport 26.4 lakh cubic meters of pond ash (landfill material) to a road construction project.
The project is expected to be completed in 15 months and the company won the bid at ₹95 crore. The shares of HG Infra remained flat today, but have risen about 32% in 2021.
Is the short-term trend up or down? This question has probably troubled traders in the last few days. The markets are moving sideways and locked in a range after rising sharply after the Union Budget on 1 February. Such range-bound movements, which sometimes run for a couple of weeks, are quite normal.
Today, the Indian markets ignored the bullishness seen in most international markets and extended the fall from the last two trading sessions. Crude oil prices are showing signs of cooling off this week and that augers well generally, as rising fuel prices were a key cause of rising inflation.