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 50.40% of traders are net-long, while the number of traders net-short was 49.60%. FII’s created massive longs 12079 & created decent shorts 3011, while retailers unwinded massive longs -18004 & huge shorts -13994.
Nifty50: 15,856 ▲+32 (+0.2%) Sensex: 52,975 ▲+138 (+0.2%)
Despite a gap-up opening and positive closing, the participation was not broad-based. Infact, 28 of the Nifty50 stocks closed in the red. Among the Nifty sectoral indices, Realty (+1.2%) and Bank (+1.0%) were the top gainers, whereas Media (-0.9%) and Auto (-0.3%) closed negatively.
Top gainers Today’s change
ICICI Bank ▲ 3.1%
ITC ▲ 2.6%
Wipro ▲ 2.3%
Top losers Today’s change
Tata Motors ▼ 2.2%
Grasim ▼ 2.0%
Adani Ports ▼ 1.8%
Zomato makes stellar listing gains
The online food delivery platform’s shares debuted on NSE at a premium of 53% today. In comparison to the issue price of ₹76, the company’s shares listed at ₹116. This comes after Zomato’s IPO was oversubscribed by 38 times last week. Meanwhile, the IPO season will continue on D-Street next week. Glenmark Life Sciences, a leading developer and manufacturer of active pharmaceutical ingredients, will launch its ₹1,513 crore IPO on Tuesday.
Mphasis soars on strong Q1 results
Shares of Mphasis surged over 4.7% today after it posted strong results for the June quarter. IT services provider reported a 7.2% QoQ growth in its consolidated net profit to₹340 crore. Meanwhile, revenue from operations grew 6.6% QoQ to ₹2,691 crore. In constant currency terms, revenue grew 5.9% on a sequential basis.
The company recorded strong revenue growth across business segments. It said that it has won orders worth $505 million in its Direct business in Q1, the highest ever in any quarter so far.
AGR pain continue for telcos
The Supreme Court has dismissed the plea submitted by Vodafone Idea and Bharti Airtel to recompute and correct errors relating to the adjusted gross revenue (AGR) calculation. The news sent the shares of cash-strapped Vodafone Idea down by more than 9%. Meanwhile, relatively better funded Bharti Airtel’s shares managed to close flat.
AGR is a fee-sharing mechanism between the government and the telcos who shifted to the ‘revenue-sharing fee’ model from the ‘fixed license fee’ model about two decades back.
The markets closed nearly at the same point where they had opened today. Technically, this kind of movement indicates indecision and a stalemate between the bulls and bears. On a broader basis, the benchmark indices are again trading in a range and seeing a time correction. A breakout on either side will confirm the direction. Reliance Industries will declare its results today, which could help in giving a direction to the market.