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 58.74% of traders are net-long, while the number of traders net-short was 41.26%. FII’s unwinded mild longs -2135 & shorts -2111, while retailers created mild longs 2434 & unwinded high shorts -5210. We typically take a contrarian view to crowd sentiment, and the fact retailers are net-long suggests Index may fall in coming days.
Nifty50: 14,617 ▲ +121 (+0.8%) Sensex: 48,677 ▲ +424 (+0.8%)
After a gap-up, the markets moved in a range-bound manner, but remained in the green throughout the day. The market breadth was positive too, with 44 of the Nifty50 stocks closing in the green. Except for the Nifty Realty (-1.0%), all sectoral indices posted gains today, with maximum buying seen in the Nifty Pharma (+4.1%) and Nifty Bank (+1.5%) indices.
Top gainers Today’s change
Sun Pharma ▲ 5.8%
UPL ▲ 4.7%
IndusInd ▲ 2.5%
Top losers Today’s change
Adani Ports ▼ 3.6%
Bajaj Finance ▼ 1.7%
SBI Life ▼ 1.3%
L&T Infotech posts robust Q4
The IT services wing of L&T group reported revenue from operations worth ₹3,269 crore, up 3.6% QoQ. Meanwhile, net profit for the period rose 5% to ₹546 crore.
During Q4, the company won two deals worth a total of $66 million. Vertical-wise banking & financial services, manufacturing and media & entertainment were key revenue drivers. The stock closed 1.6% higher today, but was down 4% in April.
Adani Total Gas posts strong quarter
Adani Total Gas reported a 19% rise in its Q4 net profit to ₹145 crore, while revenue from operations grew 25% to ₹614 crore. The growth was driven by higher PNG sales volumes, up 21% YoY, as the company expanded operations into newer geographies.
While volumes of CNG sold to automobiles and PNG to households and industries recovered to pre-Covid levels in the second half of 2020-21, the second wave has marginally hurt demand. The stock was up 0.7% today and has risen over 9% in the last three trading sessions.
P&G Hygiene and Health sees slow growth
For the March quarter, the leading FMCG player reported revenue growth of 16% YoY to ₹760 crore backed by double-digit growth in its feminine care and health care business.
Its profits grew at a relatively slower pace and were up 8% YoY to ₹98 crore. The profits were impacted by higher advertising and sales promotion expenses which rose nearly 73% YoY during the quarter. Shares of the company fell 1.8% today, however, they have gained 22.3% so far in 2021.
Hikal bags multi-product deal
Shares of the Mumbai-based contract manufacturer of pharmaceutical and crop protection products were locked in their 10% upper circuit today. The company has signed a 10-year multi-product deal with a global pharma company.
The deal includes the development and supply of active pharmaceutical ingredients for animal healthcare. The supplies are expected to commence from FY24 onwards. The stock closed at a new life high today at ₹313.95.
The Indian markets cheered the RBI’s measures to provide support to the economy battling the rising cases. High investor interest was seen in healthcare and banking stocks. While domestic cues were supportive, US markets may hold some cause for concern. Yesterday, the Dow Jones opened in the red as the US Treasury secretary hinted that interest rates could rise to keep the economy from overheating. However, the index later ended in green after the official said that they don’t see an inflation problem developing. In this context, traders will be watchful for cues from the US 10-year Treasury yields, which were up 4.5% last week.