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 49.95% of traders are net-long, while the number of traders net-short was 50.05%. FII’s unwinded huge longs -4468 & created decent shorts 1132, while retailers unwinded massive longs -13132 & huge shorts -4411.
Nifty50: 15,767 ▼-101 (-0.6%) Sensex: 52,501 ▼-271 (-0.5%)
After a subdued opening, markets continued to skid lower for most part of the day. The market breadth was negative with 41 of Nifty50 stocks closing in red. Amongst the sectoral indices, Metal (-2.8%) and Realty (-1.3%) were top losers, whereas defensive FMCG (+0.5%) and IT (+0.2%) were the only sectors that closed positively.
Top gainers Today’s change
Tata Consumers ▲ 2.1%
Nestle India ▲ 1.5%
ONGC ▲ 1.0%
Top losers Today’s change
Adani Ports ▼ 7.8%
Tata Steel ▼ 2.9%
Hindalco ▼ 2.8%
KIMS IPO receives strong traction
Krishna Institute of Medical Sciences (KIMS) raised ₹956 crore from 43 anchor investors ahead of its IPO launch. Domestic and foreign investors such as HDFC Trustee, Axis Mutual Fund and Nomura Funds took up stakes in KIMS.
The healthcare group, which operates nine multi-speciality hospitals in Andhra Pradesh and Telangana, is open for subscription from today. Around 21% of KIMS’ shares were subscribed on Wednesday. You can click here to apply for the KIMS IPO on Upstox.
Jubilant Pharmova-Ocugen tie up for vaccine
Pharmaceutical and contract research company Jubilant Pharmova’s subsidiary entered into an agreement with US-based Ocugen to produce Covaxin for the US and Canadian markets. In February, Bharat Biotech and Ocugen had decided to co-develop and sell Covaxin in the US.
However, it’s important to note here that the USA FDA last week refused emergency use authorization for Covaxin, asking Ocugen to conduct an additional trial. Shares of Jubilant Pharmova were up 0.5% today.
Truck rentals rise in June
Truck rentals are up by an average 12% in June as transportation demand rises post unlocking and due to last year’s low base, according to the reports. The street also believes that part of the rise could be to cover up for higher diesel prices.
The fleet utilization has also improved to 65% from about 50% last month. While the greenshoots are visible on ground, shares of major commercial vehicle majors–Tata Motors (-1.2%), Ashok Leyland (-2.4%)–were down today.
ENIL drops on large impairment provision
Shares of FM radio broadcasting major ENIL fell 8.6% today. It took a large ₹97.5 crore impairment in two of its businesses viz. Mirchi Love and Kool, due to pandemic induced stress. This led to an overall loss of ₹66 crore in Q4 compared to a ₹18 crore profit in Q3.
Its revenues grew 17% QoQ to ₹99 crore. The management has said that advertisers are returning to the radio medium. ENIL is pivoting from being a radio dependent business to a multiple platform based solutions company. Its shares have gained 27% so far this fiscal.
The upward rally in the markets took a pause today. The benchmark indices fell ahead of the US Fed’s interest rate decision, that will be announced later in the evening. Meanwhile, Nifty Metal index corrected by nearly 3% today on the back of weakness in prices of key commodities such as copper. Falling commodity prices to a certain extent suggest decreasing demand or easing supply. In either case, the trickle-down of lower prices could lead to inflation being under check, going forward.