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 55.60% of traders are net-long, while the number of retail traders net-short was 44.40%. FII’s created huge longs 4005 & huge shorts 4480, while retailers created huge longs 8324 & huge shorts 7608.
Nifty50: 14,653 ▲ 168 (+1.1%) Sensex: 48,944 ▲ 557 (+1.1%)
The markets opened higher and maintained their upward trajectory throughout the day. The buying interest was broad-based, as 41 of the Nifty50 stocks closed in the green. All sectoral indices closed in the green too, with the strongest gains seen in the Nifty Metal (+2.7%) and Nifty PSU Bank (+2.3%) indices.
Top gainers Today’s change
Hindalco ▲ 5.0%
Tata Steel ▲ 4.3%
Larsen & Tubro ▲ 3.6%
Top losers Today’s change
HDFC Life ▼ 3.5%
SBI Life ▼ 1.6%
Maruti ▼ 1.3%
HDFC Life sees profit-booking after results
The private sector insurer reported a muted 2% YoY growth in its standalone profit to ₹318 crore for Q4. The profits were impacted by a ₹165 crore provision relating to the second wave of Covid.
For FY21, the company’s market share rose from 14.2% to 15.5%. Despite improvement in performance, the stock closed 3.5% lower on account of profit booking.
Maruti’s profits contract in Q4
The country’s largest carmaker reported a standalone revenue of ₹24,113 crore, which was up 26% YoY, and also beat the street’s ₹23,918 crore estimate. However, net profit declined 10.7% to ₹1,166 crore, and was much below the street’s ₹1,699 crore prediction.
The decline in profit was mainly on account of lower non-operating income and higher material costs. However, the company was able to contain other expenses and hike vehicle prices during the quarter. The stock was down 1.3% today and has corrected about 14% so far this year.
JSPL rises on Jindal Power divestment
Shares of the New Delhi-based steel and power company hit a new 52-week high intraday after it announced the sale of Jindal Power to Worldone—an investment holding company related to JSPL—for ₹3,015 crore.
The divestment is an attempt by JSPL to pare debt, focus on steel business and also reduce its carbon footprint in line with its ESG objectives. The stock closed 1.7% higher today and has risen 31% so far this month.
Copper prices rise on demand recovery
Copper prices are at their highest in almost a decade as the US recovery is accelerating and China continues on its economic boom. Similar upward trends are also seen in aluminium and iron ore prices.
Indian metal companies have not only seen robust demand in Q4 but also hiked prices. As a result, the Nifty Metal index has gained about 17% this month. Shares of metal majors—such as Hindustan Copper (+10%), Hindalco (+5.0%), Hindustan Zinc (+4.5%) and Tata Steel (+4.3%)—also saw buying interest today.
The markets found a reason to cheer as the United States pledged its support to India in its fight against the pandemic. Further, the number of new cases dipped from its peak today. The Indian markets even ignored the fact that most international indices were trading in the red and rose for the second day in a row. Further, the momentum is building up as we arrive closer to May 1, when the wider population will be brought under the vaccination drive.