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 51.35% of traders are net-long, while the number of traders net-short was 48.65%. FII’s created decent longs 1633 & shorts 1613, while retailers created huge longs 6809 & shorts 4097.
Nifty50: 15,869 ▲+57 (0.3%) Sensex: 52,773 ▲+221 (0.4%)
After opening with a gap-up, markets continued to move sideways for the rest of the day. Market breadth was balanced with 25 of Nifty50 stocks closing positively. Amongst the sectoral indices, Media (2.0%) and Realty (1.3%) gained the most, whereas Pharma (-0.8%) and PSU Bank (-0.2%) were top losers.
Top gainers Today’s change
Asian Paints ▲ 2.8%
HDFC Life ▲ 1.7%
Axis Bank ▲ 1.6%
Top losers Today’s change
Divi’s Lab ▼ 1.5%
Adani Ports ▼ 1.5%
Coal India ▼ 1.4%
JB Chemicals’ profit doubles
JB Chemicals & Pharmaceuticals’ net profit doubled on a year-on-year basis to ₹100 crore in the March quarter. The revenue also rose by 19% to ₹528 crore led by a strong revenue growth in the international business.
Its international business revenues grew by 31% supported by strong performance in South Africa and US markets. Despite the strong performance, the stock was down more than 2% today.
IOB’s profit rises on lower provisioning
Indian Overseas Bank’s net profit jumped by 64% sequentially in Q4 to ₹350 crore. The soaring profits were led by a drop in provisioning for bad loans and a 30% rise in non-interest income.
The bank’s gross NPA also improved from 12.1% in Q3 to 11.6% in the March quarter. The shares of IOB were up 0.4% today and have gained nearly 30% in this fiscal.
Satin Creditcare shares rise post Q4 results
The microfinance institution’s shares rose by 10% as it reported a net profit of ₹38 crore in March 2021 compared to ₹13 crore in March 2020. Despite the rise in assets under management, the company’s net interest income dropped by 10% year-on-year.
Its gross bad loans rose to 8.4% of the overall loan book in Q4 from 3.3% last year in the same period. While it expects lower disbursements in Q1FY22 due to lockdown, the situation is expected to improve as curbs ease in the coming quarters.
Whirlpool’s shares soar on strong Q4
The shares of home appliances manufacturers spiked by 7% today after the company posted strong Q4 numbers. The company’s net profit rose by 41% YoY to ₹130 crore in the March quarter.
The rise in profit was driven by a 31% increase in revenues from operations, which was in turn driven by double-digit volume growth. The company witnessed broad-based growth across categories and geographies. The management is optimistic about short to medium term prospects.
Although the market is inching up gradually it is showing signs of fatigue. Today, Nifty50’s opening and closing were nearly at the same level. Such a type of movement indicates indecision. The number of new cases has been dropping steadily and the vaccine outreach is increasing. This gives comfort that further unlocking of economic activities may happen in the coming days. Meanwhile, unabated rising crude oil prices remain a concern and as they continue to fuel inflation.