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 55.24% of traders are net-long, while the number of traders net-short was 44.76%. FII’s created very huge longs 19573 & unwinded huge shorts -9674, while retailers unwinded huge longs -28017 & created huge shorts 14303.
Nifty50: 15,108 ▲ +184 (+1.2%) Sensex: 50,193 ▲ +612 (+1.2%)
After a strong gap-up opening, the Indian benchmark indices remained in the green throughout the day. The Nifty50 and Sensex closed above their 15,000 and 50,000 levels respectively, and 42 of the Nifty50 constituents posted gains today. Among the sectoral indices, the Nifty Auto (+3.2%) and Nifty Media (+1.6%) were the top gainers, while Nifty PSU Bank (-1.2%) and Nifty Pharma (-0.1) were the weakest today.
Top gainers Today’s change
M&M ▲ 5.7%
Bajaj Auto ▲ 5.1%
Titan ▲ 4.9%
Top losers Today’s change
Bharti Airtel ▼ 2.3%
ITC ▼ 1.1%
Coal India ▼ 0.9%
Indigo Paints sees weak sales in May
As per the recently listed paints company, sales in May could be extremely weak for the entire industry given that most of the states are under lockdown. However, hopes are pinned on a recovery in June if the curbs are relaxed.
Meanwhile, the company is seeing a silver lining on the gross margins front as the raw material prices have started showing slight downtrend over the last two months. The shares of Indigo Paints are up about 2% in May, while those of Asian Paints and Berger Paints have risen about 11% each, lockdown notwithstanding.
Praj Industries soars after approval for bio-bitumen
The industrial biotech company has developed a material called bio-bitumen, an eco-friendly alternative to fossil-based bitumen used primarily in road construction.
The material has been approved by the Netherlands-based Circular Biobased Delta, a consortium of companies and governments, which promotes the use of biomass as a raw material in various industries. Shares of Praj Industries jumped nearly 12% today and have surged over 200% so far in 2021.
Tractors sales to witness muted growth
According to rating agency Crisil, tractor volume growth will be reduced to 3-5% in FY22, despite the expectation of a normal monsoon. This sluggish growth follows a strong 27% YoY rise seen in FY21.
The growth rates could be stunted by rising cases in the rural areas during the second wave and due to a higher base effect. Recently, M&M had cautioned volume degrowth in the June quarter. Meanwhile, shares of M&M (+5.7%) and Escorts (+3.1%) rose today, as if markets have already factored in the slower growth.
Orient Cement rises on strong profit
Shares of the CK Birla-owned cement maker hit their 52-week high after the company reported ₹831 crore in Q4 revenue from operations, an improvement of 27% YoY. Crucially, net profit more than doubled compared to Q4FY20 to ₹100 crore.
The boost in the quarter comes on account of healthy operational performance. As per reports, the company saw a 17% YoY jump in sales volume with improved prices, despite the lockdowns. The stock has risen nearly 20% so far this month.
The benchmark indices rose for the second consecutive day and closed above the previous month’s high. The decline in the number of new cases has triggered hope that the economy could reopen soon. Cues from international indices were also positive today. Meanwhile, the India VIX continues to cool off and has dropped nearly 16% this month, indicating that traders expect low volatility in the days ahead.