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 54.19% of traders are net-long, while the number of retail traders net-short was 45.81%. FII’s unwinded decent longs -2278 & created huge shorts 14417, while retailers unwinded marginal longs -74 & created huge shorts 5809.
Nifty50: 14,549 ▼ 265 (-1.7%) Sensex: 49,771 ▼ 871 (-1.7%)
The markets were weak right from the opening bell and grew even weaker in the last hour of trade. Only three of the Nifty50 stocks closed in the green, which shows that selling pressure was prevalent across the board. Except for Nifty Pharma, all sectoral indices closed in the red, with Nifty Metal (-3.3%) and Nifty Realty (-3.2%) being the top losers.
Top gainers Today’s change
Cipla ▲ 1.8%
Asian Paints ▲ 1.3%
Power Grid ▲ 0.9%
Top losers Today’s change
Tata Steel ▼ 4.6%
Tata Motors ▼ 4.1%
Adani Ports ▼ 4.0%
Rossari Biotech slips on preferential issue
Specialty chemicals company Rossari Biotech (-3.7%) announced a ₹300 crore preferential issue. The issue’s floor price of ₹996 is about 7% lower than today’s closing price.
The company will use the proceeds to diversify its product portfolio, expand its geographical reach, and enter new industrial applications.
Prestige Estates acquires housing project in Mumbai
The Bengaluru-based developer will take over a 7.5 million sq.ft. housing project in Mumbai from a bankrupt company, following a court decision.
As per reports, Prestige expects a revenue of nearly ₹10,000 crore from this project, of which the first phase will be launched in May. Its shares rose 3.7% intraday and closed 0.5% higher in an otherwise weak market.
Adani Green to buy solar project in Telangana
Adani Green will fully acquire 75MW operating solar projects in Telangana from Sterling & Wilson (S&W) for ₹446 crore. S&W is a subsidiary of the Shapoorji Pallonji Group.
As per reports, Adani Green has been acquiring solar projects in Telangana. With this acquisition, Adani Green will have an operating renewable capacity of 3,470 MW. Shares of both Adani Green (-1.2%) and S&W (-4.9%) closed in the red.
Anupam Rasayan makes weak market debut
Shares of the Gujarat-based specialty chemicals makerlisted at ₹520, a discount of 6.3% on their issue price of ₹555, amid a weak market.
The ₹760-crore issue, which concluded last week was subscribed 44 times. The stock closed marginally weaker at ₹518.5.
Today, the Indian indices fell in line with the drop in major international equity markets. After several days of downward movement, the India VIX rose nearly 9%, indicating that traders expect volatility in the days ahead. While no major domestic events are lined up this week, traders must watch out for any adverse movement in the US dollar, Treasury yields and crude oil prices. Any of these could hurt investor sentiments further.