Market status changed to a Confirmed Uptrend

The Indian market has been moved to a Confirmed Uptrend as the Nifty reclaimed the 10,942 level (market’s high before it was downgraded to an Uptrend Under Pressure)

– Though the global markets performed weaker, the Nifty closed in positive territory for seven consecutive sessions. Strong IIP growth and low retail inflation strengthened investor sentiment, while a sharp fall in crude oil prices also contributed to the momentum. Continue reading “Market status changed to a Confirmed Uptrend”

Daily Big Picture – Nifty Recovers Late to Post Gains; Media Stocks Decline 4%

Today’s Action

Benchmark indices recovered to end in the green after opening in the red, marking the sixth consecutive trading day they have posted gains. Nifty, +0.2%, Sensex, +0.2%, Model Portfolio, -0.5%; MSI Ind 47, +0.4%.

Daily Market Review

After a weak opening, markets were able to end in gains, continuing their recent trend. Indices have now posted gains in six trading sessions in a row, indicating buying demand among investors.

On the sectoral front, most indices were able to post gains, except for Media, IT, and FMCG. Nifty PSU Bank (+1.3%) and Nifty Pharma (+0.8%) gained the most, while Nifty Media (-4.0%) declined the most. Sun pharma (+3.0%) and Bajaj finance (+2.3%) were the major gainers whereas Zee entertainment (-7.8%) and UPL ltd (-3.2%) were the losers among the Nifty50 stocks.

The Nifty Midcap and Smallcap were up 0.4% and 0.7%, respectively.

The advance-decline ratio was in favor of advancers. Of the 2,062 stocks traded on the NSE, 965 advanced, 755 declined, and 342 remained unchanged.

The market status remains unchanged at an {Uptrend Under Pressure}. We will change it to a Downtrend if 2-3 more distribution days are added. It will be moved to a Confirmed Uptrend if the Nifty retakes the 10,942 level (high during the recent rally).

Stocks in News

Gelnmark Pharma: The company has received the final nod from the USFDA for Fluocinolone Acetonide Oil ear drops to treat eczema of the ear. The stock was up 0.2% today.

Power grid: Central Electricity Regulatory Commission (CERC) has maintained regulated RoE at 15.5% for generation and transmission companies. Powergrid and NTPC are the beneficiaries of the move, share rose up 2.0% and 1.1% respectively.

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Daily Big Picture – Nifty Retakes 200-DMA; Realty and Media Stocks Lift Market

Today’s Action

Benchmark indices end in green for the third consecutive day. Nifty, +0.5%, Sensex, +0.4%, Model Portfolio, +1.3%; MSI Ind 47, +0.5%.

Daily Market Review

The Nifty and the Sensex posted gains in today’s session. Factors such as the November month inflation at 2.3%, a 17-month low and October month IIP growth rate of 8.1%, helped the indices to post gains. Easing inflation gives room for the RBI to decrease interest rates.

On the sectoral front, barring Nifty Metal (-0.6%) all the indices managed to post gains. Nifty Realty (+1.4%) and Nifty Media (+1.2%) gained the most. Indiabulls Housing Finance (+5.6%) and Bajaj Finserv (+2.9%) were the major gainers whereas Yes bank (-6.4%) and Sun pharma (-2.2%) were the losers among Nifty50 stocks.

The Nifty Midcap and Smallcap were up 0.7% and 1.0%, respectively.

The advance-decline ratio was in favor of advancers. Of the 2,062 stocks traded on the NSE, 1,017 advanced, 671 declined, and 374 remained unchanged.

Market status remains unchanged at an {Uptrend Under Pressure}. We will change the status to a Downtrend, if 2-3 more distribution days are added. The market will be moved to a Confirmed Uptrend if the Nifty retakes 10,942 level (high during the recent rally).

Stocks in News

Tata Motors: The Company plans to hike prices of its passenger vehicles (starting from Nano to premium SUV Hexa) by upto Rs 40,000 starting from January 1 to offset rising input costs. Maruti, Toyota, BMW, and Isuzu are also likely to increase prices from January.

Yes bank: The Company’s board of directors met today to finalize recommendation for the position of non-executive part-time chairman and shortlisted names for the post of CEO. The stock was down 6.4% today.

Daily Big Picture – Nifty Gains Post Election Results; Realty and Auto Stocks Lift Market

Today’s Action

Benchmark indices continued its yesterday’s action. Nifty, +1.8%, Sensex, +1.8%, Model Portfolio, 0%; MSI Ind 47, +1.9%.

Daily Market Review

The Nifty and the Sensex posted record gains in today’s session since November. Investors have welcomed the decision of quick appointment of RBI governor. Factors such as Asian markets trading higher and the ending of election uncertainty pushed the Indian market higher.

On the sectoral front, all the indices managed to post gains. Nifty Realty (+4.4%) and Nifty Auto (+3.6%) gained the most. Hero Motocorp (+7.2%) and Indiabulls Housing Finance (+6.0%) were the major gainers whereas Dr Reddy (-4.8%) and Bharti Infratel (-1.0%) were the losers among Nifty50 stocks.

The Nifty Midcap and Smallcap were up 2.6% and 3.0%, respectively.

The advance-decline ratio was in favor of advancers. Of the 2,063 stocks traded on the NSE, 1,418 advanced, 317 declined, and 328 remained unchanged.

Market status remains unchanged at an {Uptrend Under Pressure}. We will change the status to a Downtrend, if 2-3 more distribution days are added. The market will be moved to a Confirmed Uptrend if the Nifty retakes 10,942 level (high during the recent rally).

Stocks in News

NBCC Ltd: The Company has received a letter of award (LoA) from the Indian Government to construct an office building (Kaushal Bhawan) at New Delhi. The stock rose 4.3% today.

Ashok Leyland: The Company has signed a Memorandum of Understanding (MoU) with Israeli Elbit systems. As part of the agreement, Ashok Leyland will provide vehicles for mounting Elbit system’s artillery guns. The stock was up 1.9% today.