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 51.06% of traders are net-long, while the number of traders net-short was 48.94%. FII’s created massive longs 20545 & huge shorts 8046, while retailers unwinded huge longs -7740 & created huge shorts 4059. Nifty50: 15,208 ▲ +10 (+0.0%) Sensex: 50,637 ▼ -14 (-0.0%)
After a strong opening, the markets slid downward all day and closed flat. However, the market breadth was positive, with 38 of the Nifty50 stocks posting gains. Among the sectoral indices, Nifty Media (+3.1%) was the top gainer. Meanwhile, banking stocks witnessed selling pressure, with Nifty PSU Bank (-1.3%) and Nifty Bank (-0.8%) falling the most.
Top gainers Today’s change
Asian Paints ▲ 3.5%
Titan ▲ 3.3%
JSW Steel ▲ 3.0%
Top losers Today’s change
HDFC Bank ▼ 1.9%
HDFC Life ▼ 1.3%
Axis bank ▼ 1.1%
Dalmia Bharat Sugar posts weak Q4
The North-based sugar company reported a 16% year-on-year drop in its Q4 net profit at ₹52 crore. Profit was impacted by higher tax provision. Meanwhile, revenue from operations declined 11% to ₹488 crore, mainly due to a drop in sugar sales.
The company is optimistic about sugar prices in the future. It believes that the tight global demand-supply situation and the push for higher ethanol blending in India will keep sugar inventories under control. The stock was down 0.7% today but has gained nearly 130% so far this year.
HDFC Bank expects stress in retail lending
As per India’s largest bank, retail borrowers may delay payments of their loan instalments as they face the impact of the second wave of Covid infections. Further, borrowers who availed of the moratorium are more likely to default.
Despite the tepid near-term expectations, the bank expects borrowers to cover up for the misses and sees asset quality improving in a couple of quarters. Shares of HDFC Bank have risen about 5% in May so far. In comparison, the Nifty Bank index has risen 5.7% during the same period.
Everest Organics develops black fungus treatment
Shares of Telangana-based Everest Organics hit their 20% upper circuit after the company announced that it has developed a treatment for black fungus. The ailment is becoming an increasingly common post-Covid treatment complication.
The company is purportedly in advanced stages to commercialise the drug containing Posaconazole, the active ingredient used to treat black fungus. Previously Everest has also commercialised Oseltamivir and Remdesivir, both of which are used in the treatment of Covid. The stock has risen 15% so far this month.
Panacea Biotec starts Sputnik V production
Panacea Biotec has begun production of the Russian Sputnik V vaccine, in collaboration with the Russian Direct Investment Fund (RDIF).
RDIF and Panacea will produce 100 million doses of the vaccine per year. Sputnik V received emergency-use authorisation in India on 12 April 2021 and vaccination with the vaccine started on 14 May 2021. Shares of Panacea Biotec shares hit the5% upper circuit today.
Despite a strong start, the drag on the benchmark indices was created by large caps, notably the HDFC twins and Reliance Industries. The Nifty50 is near the upper end of its broader trading range of 14,300–15,300 and is thus facing resistance. Meanwhile, the buzz around a stimulus package for the tourism, aviation and hospitality industries is creating buying interest in shares of companies in these sectors.