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 53.32% of traders are net-long, while the number of traders net-short was 46.68%. FII’s unwinded huge longs -4008 & few shorts -370, while retailers unwinded few longs -206 & created few shorts 355.
Nifty50: 15,197 ▲ +22 (+0.1%) Sensex: 50,651 ▲ +111 (+0.2%)
After a gap-up opening, the markets traded in a narrow range and closed nearly flat. The market breadth was evenly split, with 26 of the Nifty50 stocks closing in the green. Sectorally, the Nifty PSU Bank index (+2.1%) was the strongest gainer, followed by the Nifty Realty (+1.3%). Meanwhile, Nifty Metal (-0.6%) and Nifty FMCG (-0.3%) were the only sectoral indices to close lower.
Top gainers Today’s change
IOC ▲ 4.8%
BPCL ▲ 2.7%
SBI ▲ 2.4%
Top losers Today’s change
Shree Cement ▼ 2.5%
JSW Steel ▼ 2.2%
Tata Steel ▼ 1.9%
Spandana Sphoorty’s profit declines
Shares of the microfinance lender closed 1.7% weaker after it reported a 40% YoY decline in its Q4 net profit, which stood at just over ₹49 crore. The drop in profit is due to higher provisions and Covid-related write-offs.
For FY21, the company’s net interest margin declined because of a reduction in the lending rate. Its gross NPA has risen sharply to 3.1% versus 0.5% in FY20. On the upside, the bank’s net interest income rose over 19% YoY.
Cipla launches Covid antibody cocktail
Cipla and Swiss-based pharma company Roche have launched a Covid antibody cocktail in India. A single dose is priced at ₹59,750 and doses for a total of two lakh patients will be made available by mid-June.
As per Cipla, the cocktail reduces the chances of hospitalisation and fatality by 70% in high-risk patients. The stock rose 0.6% today and has gained about 2% so far this month.
Aviation sector may see turbulence ahead
As per aviation research agency CAPA India, the crisis in Indian aviation has reached a point of no return due to the second wave. The agency further states that failure to quickly reduce distress in the sector may result in irreparable damage to jobs and to the sector as a whole.
Meanwhile, April saw a 27% drop in the number of domestic air passengers compared to March. Interestingly, the shares of Indigo and Spicejet have risen about 2.6% and 17.5% respectively so far in May.
Hero Moto resumes production
Shares of the world’s largest two-wheeler maker rose 0.7% after it announced that it has resumed production at all its manufacturing plants from today. It had temporarily halted production due to the rising Covid cases.
The company recently said that it expects a recovery in the two-wheeler industry from Q2FY22 on the expectation of a healthy monsoon and harvest season and a rebound in the GDP. Meanwhile, shares of its competitors—Bajaj Auto (+0.7%) and TVS Motor (-0.4%)—saw a mixed movement today.
The first day of the week started on a subdued note, with no major cues from the international indices. On the domestic front, there are no important data releases to look forward to this week. However, the monthly derivative expiry on Thursday could create some broader volatility. Meanwhile, the action continues in midcap and smallcap stocks, with their indices rising 0.6–1.0%. Further, in the anticipation of relaxation in lockdowns from next week, sectors like hotels and travel are starting to witness buying.