Category: Daily Big Picture

Today’s Action

Nifty, -0.7%; Sensex, -0.6%; Nifty Midcap, -0.7%; Nifty Smallcap, -1.3%; Model Portfolio, -0.9%.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Two

Nifty started the session flat and trended higher in the first half. It hit a fresh all-time high of 15,800, after which it moved down over 230 points to make an intraday low of 15,566. Of the Nifty50 stocks, 78% declined, among which Tata Motors (-2.7%) and  Adani Ports and Special Economic Zone (-2.5%) were the major decliners.

Today’s fall was more than 0.2% and volume was higher than in the previous session. Hence, it qualifies as a distribution day. However, the distribution day count remains unchanged as one expired today.

All the sectoral indices closed in the red. Nifty Media (-2.1%) declined the most, followed by Realty (-1.7%) and PSU Bank (-1.4%). The advance-decline ratio was in favor of decliners, as out of 2,258 stocks traded, 713 stocks declined, 1,217 stocks declined, and the remaining closed flat.

Nifty succumbed to a distribution day for the first time since May 11. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News

Gail (India) (Nse) announced its Q4 FY21 results. Revenue was down 0.1% y/y to 15,449 crore. Net profit increased 28.3% to Rs 1,908 crore. EBITDA margin increased to 16% q/q against 12.4%.

Indian Mtls.& Fealy.’s Q4 FY21 revenue increased 52% y/y to Rs 576.1 crore. PAT rose 26% to Rs 65.4 crore.

Teamlease Services’s Q4 FY21 revenue was up 0.8% y/y to Rs 1,340 crore. It reported a profit of Rs 18.9 crore against a loss of Rs 29.4 crore in Q4 FY20.

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Today’s Action

Nifty, +0.7%; Sensex, +0.7%; Nifty Midcap, +0.9%; Nifty Smallcap, +1.2%; Model Portfolio, +0.7%.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Nifty opened 80 points higher in today’s session on strong global cues. It consolidated its gains in the first half and witnessed further buying interest in the second half, closing near the day’s high and holding a decent gain. However, volume remained on the lower side, which is a red flag. The broader market indices outperformed the major index. Nifty Midcap and Smallcap gained 0.9% and 1.2%, respectively.

On the sectoral front, barring Nifty Pharma, all sectors closed in the green. Nifty Realty (+3.8%) was the top gainer for the day, followed by Nifty Media and Nifty Financial Service, which advanced 1.6% and 1%, respectively. Similarly, Nifty BANK, Nifty FMCG, Metal, and PVT Bank closed 0.5–0.9% higher. The advance-decline ratio was in favor of advancers, as out of 2,253 stocks traded, 1,334 stocks advanced, 594 stocks declined, and the remaining closed flat.

Nifty making a new high, the broader market back in momentum, and no distribution day after May 11 are positive signs for a sustainable rally. However, without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News

Cadila Healthcare received tentative approval from the U.S. FDA for Osimertinib tablets.

Lupin (Nse) entered the digital healthcare space with a focus to provide a digital therapeutics platform.

L&T Technology Services became the first PTC GSI partner from APAC to receive the advanced partner status.

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Today’s Action

Nifty, +0.01%; Sensex, -0.16%; Nifty Midcap, +1.4%; Nifty Smallcap, +1.3%; Model Portfolio, +1.2%.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Nifty started the session on a weaker note and continued to move lower. However, in the last couple of hours, it advanced more than 100 points from the day’s low and reversed losses to close flat. Today, volume was on the lower side. The broader market indices outperformed the major index. Nifty Midcap and Smallcap gained more than 1%. On the sectoral front, Nifty Auto (+1.9%), Metal (+2.1%), and PSU Bank (+3%) were the top gainers. On the flip side, Nifty FMCG, IT, and Financial Services closed 0.2–0.7% lower. The advance-decline ratio was in favor of advancers, as out of 2,255 traded stocks, 1,383 stocks advanced, 535 stocks declined, and the remaining closed flat.

Nifty making a new high, the broader market back in momentum, and no distribution day after May 11 are positive signs for a sustainable rally. However, without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News

Pvr  announced its Q4 FY21 results. Loss widened to Rs 289 crore versus a loss of Rs 74.5 crore in Q4 FY20. Revenue was down 60% y/y to Rs 263.3 crore. Margin contracted 19.1% y/y to 9.5%.

Muthoot Finance ’s Q4 FY21 result came in just below estimates. NII grew 15.7% y/y to Rs 1,892 crore. PAT grew 22% y/y to Rs 995 crore. Gold kept in security increased 3% q/q to 171 tons.

Motherson Sumi Sys Nse ’s Q4 FY21 PAT beat estimates, while revenue was in line with estimates. PAT grew 289% y/y to Rs 713 crore. Revenue grew 18% y/y to Rs 16,971 crore.

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