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 56.49% of traders are net-long, while the number of traders net-short was 43.51%. FII’s unwinded very few longs -713 & created medium shorts 2438, while retailers created medium longs 1327 & huge shorts 7803.
Nifty50: 18,109 ▲+6 (+0.04%) Sensex: 60,686 ▲+32 (+0.05%)
After a gap-up opening, markets declined and remained sideways for most part of the day. Of the Nifty50 pack, 28 stocks ended in red. Among the Nifty sectoral indices, Pharma (+1.4%) and FMCG (+0.9%) were top gainers. Whereas, Metal (-1.8%) and PSU Bank (-1.4%) were top losers.
Top gainers Today’s change
Power Grid ▲ 3.1%
ONGC ▲ 2.4%
ITC ▲ 2.2%
Top losers Today’s change
Coal India ▼ 4.3%
Tata Steel ▼ 3.3%
Hindalco ▼ 2.6%
Coal India Q2 profit falls on higher expenses
The largest producer of coal posted a net profit of ₹2,933 crore, lower than ₹2,951 crore reported in September quarter last year. This was mainly on account of higher raw material and other expenses. The results missed street expectations of ₹3,048 crore. Meanwhile, its revenue rose by about 10% to ₹23,291 crore in the same period.
The rise in sales corresponds to the 10% increase in the off-take of raw coal indicating minimal improvement in realizations. Coal India’s stock fell 4.3% today and was amongst the top losers in the Nifty50 pack today.
Apollo Hospitals rises on strong Q2
The Chennai-headquartered hospital chain reported a consolidated net profit ₹247 crore, a 311% surge on a year on year basis. The rise in net profit was supported by about a 35% jump in total revenues to ₹3,717 crore.
During the quarter, its bed occupancy improved from 56% last year to 65%. The chain has 71 hospitals with nearly 10,230 beds and around 4,300 pharmacies under its fold. Its shares gained about 9% today and have risen almost 20% so far this month.
IPO listings see mixed reactions
Three companies – PB Fintech, SJS Enterprises and Sigachi Industries – got listed today. However, going by the listing gains delivered by them the investor reactions seem a mixed bag. Sigachi Industries listed with a 250% gain over its issue price and was lapped up by the investors through the day.
On the other hand, Policy Bazaar’s parent PB Fintech saw a modest 17% rise on its listing. Further, aesthetics solutions provider SJS Enterprises opened flat and lost about 6% towards the end of the day. The IPO rush is still on and the laboratory equipment maker Tarsons Products IPO was almost fully subscribed on Day 1. You can apply for this IPOs on Upstox.
Despite strong cues from international indices, India markets declined from day’s highs and ended almost flat. The wholesale price inflation (WPI) rose to a 5-month high of 12.5% in October, up from 10.6% in September. The jump comes on the back of rise in prices of fuel, food and metals. Typically, WPI acts as a leading indicator for consumer price inflation and it seems that markets are already taking cognizance of the same. The result season is now behind us and no major data releases are coming up this week. Thus, markets are expected to seek directional cues from global indices, in this holiday shortened week.