Zubu Client Sentiment Nifty50 Report & Market Recap (Jan-24-2022)

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 56.02% of traders are net-long, while the number of traders net-short was 43.98%. FII’s unwinded huge longs -7564 & created huge shorts 10270, while retailers created huge longs 31479 & shorts 27310.

Nifty50: 17,149 ▼468 (-2.6%) Sensex: 57,491 ▼1545 (-2.6%)

The markets extended last week’s fall and dropped sharply today. The cues from the international indices were also negative.

The lack of positive near-term triggers and continuous selling pressure from foreign investors weighed on the markets.

Last-hour buying does create a hope for some bounce, going ahead. However, traders will adopt a cautious approach.

All the Nifty sectoral indices closed in the red with Realty (-5.9%) and Metal (-5.2%) being the top losers

Top gainers Today’s change
CIPLA ▲ 2.8%
ONGC ▲ 0.8%

Top losers Today’s change
JSW Steel ▼ 6.9%
Bajaj Finserv ▼ 6.3%
TATA Steel ▼ 5.9%

JSW Steel shows no heart of steel

The leading steel maker reported a 74% year-on-year growth in its consolidated revenue to ₹38,071 crore, driven by demand in the automotive, solar and appliance sectors. Meanwhile, high coking coal prices and power cost kept the pressure on the company’s margins. It’s net profit grew 69% year-on-year to ₹4,516 crore.

Going forward, the company expects the manufacturing activity to remain robust and revive strongly once the current wave subsides.

Bandhan Bank’s profit soars

The Kolkata-based lender posted a net profit of ₹859 crore, up 35% year-on-year. It’s net interest income grew 3% year-on-year to ₹2,125 crore. Its CASA ratio improved to 45.6% in Q3FY22 from 42.9% in Q3FY21.

Meanwhile, the bank’s gross NPAs increased to 10.8% in Q3FY22 from 1.1% in Q3FY21 driven by a sharp rise in bad loans in the emerging entrepreneurs business segment.

Vodafone-Idea loss widens

The debt-ridden telecom player’s loss widened to ₹7,230 crore, 60% higher on a year-on-year basis. Higher marketing expenses and finance costs impacted the performance. Its revenues stood at ₹9,717 crore, down 11% year-on-year.

While its average revenue per user (ARPU) rose 5% sequentially to ₹115, it continues to lose subscribers to the rivals. Meanwhile, the company’s net debt stood close to ₹2 lakh crore.

Budget Buzz

According to the reports, ahead of the upcoming budget, the government and companies are discussing changes in salary structure to suit the new work-from-home model. The suggestions include reduction in house rent allowance as many working professionals shifted to their hometowns during the pandemic. Other changes such as electricity and Wifi reimbursements were also discussed.

Fed Meet

According to Goldman Sachs Inflation surge could push the Fed into more than four rate hikes this year