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 50.49% of traders are net-long, while the number of traders net-short was 49.51%. FII’s created few longs 468 & huge shorts 4734, while retailers created massive longs 9050 & unwinded decent shorts -1773.
Nifty50: 15,746 ▲+63 (+0.4%) Sensex: 52,574 ▲+230 (+0.4%)
After a gap-down opening, the markets steadily climbed up throughout the day and closed in the green. The market breadth was strong with 36 of the Nifty50 stocks witnessing gains. All the Nifty sectoral indices, except Auto (-0.4%) and IT (-0.2%), closed positively, with the PSU Bank (+4.1%) seeing maximum gains.
Top gainers Today’s change
Adani Ports ▲ 5.1%
NTPC ▲ 3.9%
Titan ▲ 1.7%
Top losers Today’s change
UPL ▼ 4.3%
Wipro ▼ 1.1%
Tata Motors ▼ 1.0%
PSU banks soar on stake sale buzz
Shares of state-owned lenders Central Bank of India and Indian Overseas Bank soared 20% on Monday, after reports suggested that the government selected the two banks for divestment.
The government will reportedly divest 51% of its stake in each of these banks in the first phase. Investor interest was also high in other PSU banks such as SBI (+1.5%), Bank of India (+4.6%) and Bank of Baroda (+2.5%).
Maruti Suzuki to hike prices in Q2
The country’s largest car manufacturer is planning to raise prices of its cars to offset rising input costs. This will be the second price hike by Maruti this fiscal after the 1.6% hike in the June quarter.
The company said that the input costs have risen over the past year, and it will have to pass on some of the costs to the customers. The quantum of the price hike will vary across models. Shares of Maruti Suzuki were down 1% today and have declined 2.6% so far this month.
Gold prices snap losing streak
Gold prices rose by 6% on Monday as the US treasury yield eased to its lowest since February 2021. After the US central bank said that it would take at least two rate hikes by 2023, investors believe that the inflation won’t be allowed to spiral out of control.
Hence, they have been buying treasury bonds and retreating their inflation bets. Last week, gold suffered its worst weekly losses since March 2020. Gold prices have fallen by around 5% in India this month.
Guj Alkalies posts jump in profit
Gujarat Alkalies and Chemicals, which is one of the biggest manufacturers of caustic soda, reported strong profit growth in Q4. Its consolidated net profit soared two-fold to ₹34.6 crore from ₹11.4 crore in March 2020.
The profit growth was driven by an 8% rise in revenue from operations and lower tax expense. Shares of Gujarat Alkalies and Chemicals were down 0.1% today.
Despite negative cues from the Asian indices, Indian markets witnessed a strong recovery today. Most of the Adani Group stocks rose and helped in improving overall sentiments. Even the Nifty Midcap and Smallcap indices outperformed the benchmark Nifty50. There are no major domestic data releases this week, and the market movements are expected to keenly track institutional equity flows. Last week’s correction could bring back investors who were on the sidelines and waiting for prices to drop.