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 54.25% of traders are net-long, while the number of retail traders net-short was 45.48%. FII’s created huge longs 5700 & created decent shorts 3183, while retailers unwinded huge longs -7902 and unwinded huge shorts -10533.
Nifty50: 14,504 ▲ 194 (+1.3%) Sensex: 48,544 ▲ 660 (+1.3%)
A lukewarm opening notwithstanding, the markets picked up pace during the second half and ended the day strongly. As a result, 38 out of the Nifty50 stocks closed in the green. The Nifty PSU Bank index (+4.4%) was the top sectoral gainer, followed closely by Nifty Auto (+4.2%). Meanwhile, Nifty IT (-3.2%) and Nifty Pharma (-1.1%) were the top losers among the sectoral indices today.
Top gainers Today’s change
M&M ▲ 7.8%
Bajaj Fin Serv ▲ 6.5%
Tata Motors ▲ 5.3%
Top losers Today’s change
Dr Reddy’s ▼ 3.9%
TCS ▼ 3.9%
Tech Mahindra ▼ 3.3%
Tata Motors rises on strong JLR growth
As per Tata Motors, its luxury brand Jaguar Land Rover has registered a 12.4% YoY growth in retail sales in Q4FY21. The company said that China sales jumped 127% over a lower base. Sales in North America grew 10.4%, whereas sales in the UK (-6.8%) and Europe (-4.9%) declined year-on-year.
For FY21, JLR’s global retail sales were down 13.6% YoY owing to the pandemic. Shares of Tata Motors rebounded sharply from yesterday’s fall and were up 5.3% today.
Bandhan Bank posts robust Q4
The Kolkata-based bank reported loans and advances worth ₹87,054 crore in Q4FY21. The figure represents a 21% YoY growth, and 8% QoQ growth.
At ₹77,972 crore, the bank’s total deposits grew 37% YoY. The bank’s CASA ratio improved to 43.4% from 36.8% last year. The stock rose nearly 1% today, but has fallen about 18% so far in 2021.
Venus Remedies partners with US’ West Pharma
The Chandigarh-based pharmaceuticals and injectables manufacturer has partnered with US-based West Pharma to launch Cloti-Xa syringes in India. The syringe reportedly protects healthcare workers and patients from accidental needlestick injuries, which could prevent the spread of infections like HIV, Hepatitis B and C.
The stock gained nearly 5% intraday, before closing 3.3% higher. It has risen nearly 90% so far this year.
IDBI surges on divestment proposal
Shares of the PSU lender soared 10% after reports that the government may consider divesting 45.5% stake in the bank. The government holds a 94.7% stake in IDBI Bank through LIC.
The stake sale is part of the government’s strategic divestment plan of its public sector assets. The stock has risen nearly 20% so far this year.
The Indian markets bounced back today after a sharp drop yesterday, with major global equity markets lending wings to the rebound. The sectors that were badly impacted in the previous session (such as banks, autos and metals) saw buying interest today. Investors seem to be lapping up shares at lower prices. However, only time will tell, whether we are witnessing a buy-on-dips or a sell-on-rise type of action. Today’s movement in both the Nifty50 and Sensex is within yesterday’s trading range and thus doesn’t give enough directional clues.