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 48.64% of traders are net-long, while the number of retail traders net-short was 51.36%. FII’s created huge longs 12049 & unwinded huge shorts -7386, while retailers unwinded huge longs -6047 & created huge shorts 7610.
Nifty50: 14,507 ▲ 182 (+1.2%) Sensex: 49,008 ▲ 568 (+1.1%)
After a gap-up opening, the markets remained positive throughout the day. Of the Nifty50 stocks, 43 ended in the green, indicating broad-based buying. All the sectoral indices closed positively, with the Nifty Metal (+3.6%) and Nifty FMCG (+1.8%) indices being the top gainers for the day.
Top gainers Today’s change
Tata Steel ▲ 5.8%
Bajaj FinServ ▲ 4.4%
Asian Paints ▲ 3.9%
Top losers Today’s change
UPL ▼ 1.3%
Power Grid ▼ 1.2%
Eicher Motors ▼ 0.7%
Tata Group stocks surge on SC verdict
Stocks of Tata Group companies witnessed buying interest after the Supreme Court ruled in favour of Tata Sons in the case against Mistry. The verdict sets aside the NCLAT order to reinstate Cyrus Mistry as the executive chairman of the Tata Group.
The Group’s stocks such as Tata Steel (+5.8%), Tata Motors (+3.9%) and Titan (+3.7%) were among the top gainers in the Nifty50. Meanwhile, shares of Tata Power, Tata Communications and Tata Coffee gained 4-5%.
Hathway falls on OFS by promoter entities
Shares of Hathway Cable and Den Networks witnessed a sharp decline in prices after their promoter entities reduced holdings in the companies through offers for sale (OFS) to comply with minimum public shareholding norms.
The promoter entities belonging to RIL will sell about 19% stake in Hathway Cable and 11.6% stake in Den Networks. While Hathway Cable shares were down 10.4%, those of Den Networks closed 7.6% lower.
Welspun surges on rating upgrade
Shares of textile maker Welspun India gained 8% after India Ratings & Research upgraded the company’s rating from IND -AA to IND AA.
The upgrade comes on account of better-than-expected deleveraging of the company’s balance sheet through improved capacity utilisation and operational performance.
Kalyan, Suryoday SFB list at discounts
Compared to the flying start seen in the IPO listings earlier this year, shares of Kalyan Jewellers (KJ) and Suryoday Small Finance Bank (SSFB) debuted on the NSE at discounts of 15% and 4% on their issue price, respectively.
Both IPOs were oversubscribed more than two times. While KJ raised ₹1,175 crore through its maiden issue, SSFB’s issue garnered ₹582 crore.
Positive cues from international equity markets and buying interest after the recent correction helped the Indian markets to stage a comeback today. However, neither the Nifty, nor the Sensex were able to move past their yesterday’s high, and thus do not lend enough strength to the bounce.
Next week is a short one since the markets are closed on Monday and Friday. Since no major domestic data release is expected, the markets are likely to move based on developments in India’s Covid wave, along with movements in the international market.