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 42.22% of traders are net-long, while the number of traders net-short was 57.78%. FII’s created few longs 969 & unwinded huge shorts -3320, while retailers unwinded huge longs -1909 & created huge shorts 4996.
Nifty50: 15,751 ▲+81 (+0.5%) Sensex: 52,328 ▲ +228 (+0.4%)
After a gap-up opening, the markets continued their upward journey and closed near the day’s high. The market breadth was healthy, with 33 of Nifty50 stocks closing in the green. Among the sectoral indices, Nifty Media (1.1%) and Nifty IT (1.1%) were top gainers. On the other hand, the Nifty Metal index fell -0.4% as international commodity prices cooled off.
Top gainers Today’s change
Adani Ports ▲ 5.2%
Power Grid ▲ 5.0%
NTPC ▲ 4.2%
Top losers Today’s change
Bajaj Finance ▼ 4.4%
Bajaj Finserv ▼ 2.9%
HDFC ▼ 1.2%
NCLT approves resolution plan for DHFL
The beleaguered housing lender’s stock was locked in the 5% upper circuit today after the insolvency court (NCLT) approved Piramal Group’s resolution plan with a few conditions. This comes at a time when the non-banking finance company posted an improvement in its performance.
The lender was back in black, reporting a profit of ₹97 crore in comparison to a loss of ₹13,095 crore in December 2020. The profit was aided by lower losses on bad loans and write-offs.
Reliance Infra to raise capital via preferential issue
Shares of Reliance Infra were locked in the 5% upper circuit today. The company has announced that it will raise ₹550 crore via a preferential issue of equity shares to its promoter group and VFSI
Emami hikes prices, plans rural push
The owner of brands like Zandu and Navratna Oil has hiked prices of its products by around 4% to offset rising input costs. The company said this will help it retain gross margins around 66%. Recently, FMCG majors HUL, Marico and Britannia had also announced price hikes citing rise in input costs.
Further, Emami plans to increase rural penetration with a focus on 13 states. The company also aims to increase the contribution of its e-commerce channel, which currently accounts for around 4% of domestic sales. The stock closed 0.7% lower today.
Holdings Pte. Ltd.
The issue price is fixed at ₹62 per share, about 15% lower than today’s closing price. The company will use these funds mainly for funding growth and reducing debt. Recently, the company posted a substantial reduction in losses for the March quarter as compared to the year-ago period. Revenues had also surged 15% year-on-year.
Consumer confidence drops to record lows
As per RBI’s bi-monthly survey, the consumer confidence index fell to a new all-time low of 48.5 in May from 53.1 in March. A figure below 100 indicates pessimism among respondents.
Hurt by the pandemic, consumers even saw a weak economic scenario for the future (one year ahead). The future index too took a hit and dropped from 108.8 to 96.4.
Indian markets continued to inch higher as daily new cases drop, vaccination drive progresses and several regions gradually ease curbs. Further, this time around the government and companies are also well-prepared for the third wave, if and when it hits. The optimism is also being backed by RBI’s support on the interest rates front and the foreign money flows, which are at record high levels. Further, major international indices also traded in the green, adding a sentimental support. Amid this favourable scenario, investor interest seems high in the midcap and smallcap stocks as their respective indices rose over 1% today.