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 48.51% of traders are net-long, while the number of traders net-short was 51.49%. FII’s created huge longs 5598 & shorts 7470, while retailers unwinded massaive longs -12521 & huge shorts -6875.
Nifty50: 15,683 ▼-8 (-0.0) Sensex: 52,344 ▲+21 (+0.0)
The markets witnessed a see-saw movement today, with a higher opening followed by sharp fall. However, the markets recovered gradually and closed nearly flat. Among the sectoral indices, Nifty FMCG (+0.29%) was the strongest, while Nifty PSU Bank (-1.7%) and Nifty Metal (-0.9%) were the top losers.
Top gainers Today’s change
Adani Ports ▲ 7.1%
Bajaj Auto ▲ 3.0%
HUL ▲ 3.0%
Top losers Today’s change
ONGC ▼ 3.4%
Coal India ▼ 3.3%
JSW Steel ▼ 3.3%
Oil prices fall on strong dollar
Crude oil prices fell from recent highs after the US dollar index rose following the Fed’s comment that it may raise interest rates by 2023. Further, rising cases in the UK raised demand concerns even as the supply from Iran is expected to resume.
The Brent crude dipped 1.8%, while WTI crude fell 1.5% on Thursday. Although yesterday’s fall was the biggest daily decline since May, both benchmarks have risen over 40% this year. Meanwhile, the US dollar index, which measures the US dollar against a basket of major currencies, strengthened after the Fed indicated that interest rates may rise sooner than expected.
HUL rises on hopes of recovery
In a weak market, shares of FMCG major Hindustan Unilever (HUL) rose by 3% today and closed near their 52-week high. The company had recently shared a positive outlook and said that it expects business to recover after June as the economy rebounds.
The management said that the impact of the pandemic peaked in May as lockdown restrictions are being eased. Also, resilient rural demand and strong traction for health, hygiene and nutrition products is seen as a big positive for HUL.
Power Grid posts healthy Q4 performance
State-owned Power Grid Corporation’s consolidated net profit rose by around 6% year-on-year to ₹3,526 crore in Q4, led by higher growth in revenue and lower expenses. The company’s revenue from operations grew by 3.5% to ₹10,510 crore, while total expenses dropped by 16%.
The company also approved one bonus share for every three existing shares. Despite the strong performance, shares of Power Grid were down 2.3%.
Revival in cement demand on the cards
The gradual unlocking of the economy and the government’s infra push is reviving demand for construction materials such as cement, according to reports. Cement major Dalmia Bharat’s management is hoping that the situation will improve in the next two to three months.
The cement demand, which had softened in April and May, has again revived, the management said. Cement stocks like UltraTech Cement , Ambuja Cement and Dalmia Bharat fell in the range of 0.2-2% today.
After rising for four consecutive weeks, the markets saw profit-booking this week and declined by 0.7%. Today, benchmark indices fell with high intensity but gradually crawled back up, owing to the recovery in index heavyweights HDFC Bank, Reliance Industries and Infosys.
Next week, the movement of markets will give a clear indication of the market direction, depending on whether this week’s high is taken out or the low is breached.