Zubu Client Sentiment Nifty50 Report & Market Recap (Aug-03-2021)
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 51.20% of traders are net-long, while the number of traders net-short was 48.80%. FII’s created massive longs 18994 & unwinded massive shorts -12182, while retailers created huge longs 7569 & massive shorts 12578.
Nifty50: 16,130 ▲+245 (1.5%) Sensex: 53,823 ▲+872 (+1.6%)
After a strong opening, the markets steadily rose throughout the day and closed near the day’s high. A whopping 44 of the Nifty50 stocks ended with gains today. All of the Nifty sectoral indices, except for Media (-0.8%) and Metal (-0.05%), rose today with maximum gains seen in FMCG (+1.7%) and Financial Services (+1.6%).
Top gainers Today’s change
Titan ▲ 3.9%
HDFC ▲ 3.7%
IndusInd Bank ▲ 3.4%
Top losers Today’s change
JSW Steel ▼ 0.7%
Shree Cement ▼ 0.3%
Bajaj Auto ▼ 0.3%
Orient Cement posts strong Q1
Shares of Odisha based cement maker rose 3.3% today and closed at their highest level in over three years. For the June quarter, the cement maker reported a massive 249% YoY jump in net profit to₹89 crore. The strong profit growth was supported by a 68% rise in revenue from operations to ₹691 crore.
In its annual report, the company had said that the cement industry is expected to witness volume growth due to demand revival in infrastructure and urban housing segments. However, the industry’s need to improve operating leverage with a focus on improving capacity utilisation is likely to limit price improvement.
VA Tech bags large order
The water technology player has bagged an order worth₹1,230 crore from Russia-based Amur Gas Chemical Complex. This is the company’s largest order from the oil and gas sector.
It will be a technology and system integrator for the wastewater treatment unit. As of March 2021, the company’s order book stood at ₹9,500 crore, about three times its FY21 revenue. Meanwhile, shares of VA Tech Wabag were down 1.9% today.
Tata Motors hikes PV prices
The leading auto manufacturer announced that it willhike prices of its passenger vehicles (PVs) from 3 August 2021. It will raise prices by 0.8% on average depending on variant and model.
Recently, the company had mentioned that it plans to raise prices of PVs to offset the steep rise in cost of inputs like steel and precious metals. In July, auto major Maruti Suzuki had also raised prices of some models to offset higher input costs. Shares of Tata Motors were up 2.2% today, while those of Maruti Suzuki closed 1.6% higher.
Today, the benchmark indices broke out of the two-month long consolidation and hit record highs. There was a broad-based participation from the index stocks. However, it seemed that midcap and smallcap stocks didn’t join the rally. The Nifty Midcap 100 index was flat, while the Smallcap 100 index declined. Further, the cues from major international equity indices were a mixed bag. Thus, it becomes important to see whether the market momentum sustains or the indices again fall back into the consolidation range.