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 49.38% of traders are net-long, while the number of traders net-short was 50.62%. FII’s unwinded massive longs -19377 & created huge shorts 6934, while retailers created huge longs 2220 & unwinded decent shorts -1397.
Nifty50: 15,752 ▼-171 (-1.0%) Sensex: 52,553 ▼-586 (-1.1%)
The markets had a weak start and the selling accentuated in the second half of the trading session. 39 of the Nifty50 stocks closed in red indicating broad-based selling. Amongst the Nifty sectoral indices, Financial services (-1.9%) and Bank (-1.8%) were top losers whereas Realty (+0.4%) and Pharma (+0.2%) managed to stay afloat.
Top gainers Today’s change
NTPC ▲ 2.0%
BPCL ▲ 1.5%
Divis Lab ▲ 1.0%
Top losers Today’s change
HDFC Bank ▼ 3.2%
IndusInd Bank ▼ 2.8%
HDFC Life ▼ 2.7%
L&T bags a slew of new orders
The infrastructure giant has said that its construction arm has won several orders in India and abroad. The value of these orders is in the range of ₹1,000 to ₹2,500 crore, according to the exchange filing by L&T. In the FY21 annual report, the company has said it is cautiously optimistic for FY22 and believes that the economic recovery is ‘delayed’ and not ‘derailed’. Shares of the L&T had hit a new life high of ₹1,639 intraday but later gave up the gains amidst weak market and closed 0.5% lower.
HDFC Life’s profit slumps
The life insurer’s net profit dropped by 33% year-on-year to ₹302 crore in the June quarter. The fall in profit was due to the company’s decision to set aside an additional ₹700 crore for servicing future claims. In the June quarter, the company witnessed a steep rise in death claims in the wake of the second wave. Meanwhile, the company’s total premium rose by 31% to ₹7,656 crore. Shares of the company were down 2.7% today.
Indian Bank’s Q1 profit soars
Chennai-based public sector bank reported a strong 220% year-on-year jump in its Q1 net profit to ₹1,182 crore. The jump in profits was supported by higher other income and lower employee costs. The rise in net interest income was at modest 3% YoY to ₹3,994 crore. Meanwhile, its gross NPA stood at 9.69% compared to 9.85% as on March ’21. Shares of Indian Bank were up 0.6%, despite a fall of 1.1% in the Nifty PSU Bank index today.
Debutants make strong gains on listing
The specialty chemical manufacturer Clean Science and Technology listed at a premium of95% over its issue price of ₹900 on NSE. Similarly, roads and highways developer GR Infraprojects’ shares also doubled in comparison to the listing price of ₹837.
Meanwhile, another specialty chemical maker Tatva Chintan Pharma Chem, which is open for subscription currently, has been oversubscribed over 10 times on day 2.
Today, the Indian markets felt the heat from both the domestic and international front. Firstly, shares of major banks were under bear-grip after HDFC Bank’s Q1 results missed street estimates as the bank set aside more funds for bad loans. Secondly, all major international indices were trading in red as a surge in new cases (especially in the UK and Japan) spoiled investor sentiments. Meanwhile, inflation concerns continue to haunt the near term prospects. Back home, expect volatility to rise this week as several large companies are expected to declare their Q1 results this week.