Zubu Client Sentiment Nifty50 Report & Market Recap (May-06-2021)

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

Zubu Client Sentiment Nifty50 Report May-06-2021)

Nifty50 retail trader data shows 59.11% of traders are net-long, while the number of traders net-short was 40.89%. FII’s created mild longs 2143 & decent shorts 4681, while retailers unwinded very mild longs -836 & unwinded mild shorts -2267. We typically take a contrarian view to crowd sentiment, and the fact retailers are net-long suggests Index may fall in coming days.

Nifty50: 14,724 ▲ +106 (+0.7%) Sensex: 48,949 ▲ +272 (+0.5%)

The markets remained lacklustre in the first half, but witnessed buying interest later in the day. The market breadth remained positive, with 35 of the Nifty50 constituents closing in the green. Among the sectoral indices, Nifty PSU Bank (-1.1%) and Nifty Pharma (-0.2%) were the weakest, while Nifty Metal (+2.5%) and Nifty IT (+1.8%) gained the most.

Top gainers Today’s change
Hindalco ▲ 5.6%
Hero Moto Corp ▲ 4.6%
Wipro ▲ 4.4%

Top losers Today’s change
UPL ▼ 1.4%
Bajaj Fin Serv ▼ 1.0%
Power Grid ▼ 1.0%

Sundram Fasteners fell despite strong Q4

The TVS group company reported consolidated revenue from operations of ₹1,273 crore, up 53% YoY. Meanwhile, profit after tax rose by a stronger 164% to ₹140 crore.
The auto component manufacturer’s latest quarter was supported by strong export and domestic sales. Profit was boosted further by stringent cost control measures and lower finance costs. The stock was down 0.4% today and has declined 12% in April.

Coforge soars on strong profit growth

The Noida-based IT services company’s consolidated revenue was up 6% sequentially to ₹1,261 crore during Q4FY21. Meanwhile, profit after tax increased 9% QoQ to ₹133 crore.
During the latest quarter, the company bagged new business worth $201 million. After the new orders, it has an executable order book worth $520 million for FY22. The stock hit its lifetime high of ₹3,400, and closed with gains of 17.0%.

Adani Green rises on strong quarter

The renewable energy arm of the Adani Group posted an 86% rise in its consolidated net profit to ₹104 crore in Q4FY21. Meanwhile, its revenue from operations grew by 41% to ₹986 crore.
Revenue from power supply rose 15% YoY to ₹690 crore, driven by added capacities and consistent solar and wind capacity utilisation. Shares of Adani Green Energy gained 3.5% today and have gained over 8% so far this week.

Blue Dart back in black

Shares of the leading logistics company gained nearly 6% intraday as Blue Dart reported a consolidated net profit of ₹90 crore for Q4FY21. The company reported a loss of ₹30 crore during the same period last year. Its revenue from operations grew 33% to ₹968 crore.
For FY21, it has posted a profit of ₹101 crore compared to a loss of ₹41 crore in FY20. The turnaround in performance was supported by better realization and cost efficiencies achieved during the year. The stock has gained 32% so far this year.

Closing bell

The markets rose for the second day in a row after the RBI announced measures to provide liquidity in the system and support to businesses amid the difficult situation. Today, all but two sectoral indices closed in the green, suggesting that the rise was broad-based. In terms of fund flow, when FIIs turned into net sellers in April 2021, the domestic institutions picked up the baton, helping the indices to stay afloat. In essence, the markets are showing signs of resilience.