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 49.58% of traders are net-long, while the number of traders net-short was 50.42%. FII’s unwinded decent longs -1095 & created shorts 1289, while retailers unwinded huge longs -2367 & few shorts -242.
Nifty50: 15,691 ▼-76 (-0.4%) Sensex: 52,323 ▼-178 (-0.3%)
The markets opened lower and traded in the negative throughout the day. The market breadth was weak, with 37 of the Nifty50 stocks closing in the red. All Nifty sectoral indices except IT (+0.5%) and FMCG (+0.1%) witnessed losses, with Metal (-2.3%) and Real Estate (-1.6%) being the top losers.
Top gainers Today’s change
UltraTech Cement ▲ 1.6%
TCS ▲ 1.6%
Infosys ▲ 1.3%
Top losers Today’s change
Adani Ports ▼ 8.9%
IndusInd Bank ▼ 2.9%
Hindalco ▼ 2.9%
CESC’s Q4 profit rises
The power utility company Calcutta Electric Supply Corporation (CESC) posted a 13% year-on-year rise in its consolidated net profit to ₹429 crore. The profit growth was led by an increase in revenue from operations and a drop in total expenses.
The RP-Sanjiv Goenka Group’s flagship company has also approved a 1:10 stock split. The management said there is not much impact of the pandemic on the business as the power supply is an essential service. The stock was up 1.3% on Thursday.
Hotel bookings spike as restrictions ease
The occupancy levels at five-star hotels and premium boutique brands are at their peak over the past fortnight. This comes at a time when the restrictions on movements are being eased in some states, including Maharashtra and Delhi.
People are flocking towards hills, beaches and leisure destinations as the trend of “revenge travel” picks up pace. In fact, travel operator Easemytrip has reported a 3-fold rise in airline bookings in June as compared to May. Shares of premium hotel chains, such as Indian Hotels, EIH and Lemon Tree are up in the range of 13-24% this fiscal year.
IPOs witness strong interest
After a two-month-long pause, India’s IPO market was back in action this week, and the 4 public issues received a strong response from investors. IPOs of steel manufacturer Shyam Metalics and auto ancillary player Sona Comstar, which closed yesterday, were oversubscribed 121 and 2.3 times, respectively.
Similarly, Hyderabad-based Dodla Dairy was subscribed more than 2.5 times on Day 2. Further, the KIMS Hospitals IPO was subscribed by around 40%. These two IPOs will close on Friday. You can click here to apply for the KIMS IPO on Upstox.
Somany soars on strong quarter
The ceramic tiles maker’s net profit zoomed to₹35 crore, as compared to a loss of ₹9 crore in the year-ago period. The growth in profit was driven by a 58% rise in consolidated revenue from operations at ₹564 crore.
The company said that the second wave has impacted sales and plant operations. As a result, most of the plants operated at lower capacity in May and June. However, it is cautiously optimistic about the recovery in the months ahead. The stock surged 8.2% today and gained over 24% so far this fiscal.
The Indian markets fell for the second day in a row today. In times of weakness, investors turn to defensive sectors such as IT and FMCG, which saw gains today. Meanwhile, the US Fed has said that it will keep interest rates near zero for now but could undertake two hikes by 2023. This announcement comes amid rising inflation concerns, which the central banks reckon will be transitory.