Zubu Client Sentiment Nifty50 Report & Market Recap (Dec-07-2021)

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

Zubu Client Sentiment Nifty50 Report Dec-07-2021Nifty50 retail trader data shows 50.52% of traders are net-long, while the number of traders net-short was 49.48%. FII’s created huge longs 14946 & unwinded huge shorts -11423, while retailers unwinded huge longs -26302 & shorts -7475.

Nifty50: 17,176 ▲+264.4 (+1.5%) Sensex: 57,633 ▲+886.5 (+1.5%)

After a gap-up opening, markets continued to climb up throughout the day.45 stocks from the Nifty50 pack advanced. All the sectoral indices closed in green. Maximum gains were seen in Nifty Metal (+3.3%) and Nifty Bank (+2.4%)

Top gainers Today’s change
Hindalco ▲ 5.1%
Tata Steel ▲ 3.9%
Axis Bank ▲ 3.5%

Top losers Today’s change
Britannia ▼ 0.5%
Cipla ▼ 0.5%
Divis Lab ▼ 0.3%

Tanla platforms partners with Voda-Idea

Shares of Hyderabad-based Tanla Platforms were locked on the upper circuit as it signed a pact with Vodafone-Idea (Vi) to be an exclusive provider of solutions to secure and encrypt entire international messaging traffic on Vi’s network.

As per Tanla, India’s international messaging market is estimated to be about ₹3,500 crores annually.

Its cloud-based platform related to this is expected to go live in the March quarter of this fiscal year.

Indigo rises as promoters call for EGM

Shares of Indigo saw strong buying interest as the company has decided to schedule an extraordinary general meeting (EGM) on December 30 to amend articles of association (AoA) and remove restrictions on transfer of promoter shares.

The EGM is scheduled amid a bitter feud between the founders Gangwal and Bhatia and follows a London Court of International Arbitration’s order. Once the said restrictions are removed, either of the promoters will be able to sell or transfer their shares to a third party without giving each other a notice. This opens up opportunities for stake sale.

Indo Count acquires home textile business

Bed sheets maker Indo Count has acquired the home textile business of GHCL for ₹576 crore. The deal will add 45 million meters of annual capacity to Indo Count’s kitty. Further, it has excess land to double the capacity in future.

With this acquisition Indo Count became the largest home textile bedding company globally. The company is also expecting additions to revenue by ₹1300-1500 crore per annum.

Closing bell

The markets took a U-turn ahead of the RBI’s interest rate decision tomorrow. The rise was supported by the large banks, which rose nearly 3% – Axis, ICICI and Kotak Bank. While the rise in the market was broad-based, traders will watch out for a follow-through buying. A sustained buying, especially after the RBI decision, could build hopes for a short-term rally in the market. Meanwhile, the street expects RBI to keep rates unchanged amidst global virus scare.