A Volatile Trading Day
Indian equities fluctuated for most parts of the trading day, but managed to eke out modest gains as the session came to a close.
The S&P BSE Sensex ended 42 points higher at 49,201 while the NSE Nifty 50 index rose 0.3% to end at 14,683.
Gains on the Nifty were led by Adani Ports & Special Economic Zone Ltd., which ended 14.5% higher - its biggest single-day jump since January 2009. Other gainers on the Nifty were FMCG stocks like Tata Consumer Products Ltd. and Asian Paints Ltd.
Among sectoral indices, the Nifty Pharma index was the top sectoral gainer, ending with gains of 1.8%. All the constituents of the index ended higher. The Nifty Metal index continued its winning run, ending higher for the seventh straight day with gains of 1.4%. The index ended at the highest level since April 2011.
The Nifty FMCG index was the other sectoral gainer, ending 0.9% higher.
Among the laggards, the Nifty Bank index underperformed, shedding close to 200 points or 0.5% to end at 32,501. The Nifty Media index too fell 0.3% in today's session.
Broader markets outperformed the benchmark indices by a distance in today's session. The Nifty Midcap index rose 0.9% while the Smallcap index ended with gains of 1.3%.
The India Volatility Index fell 1.8% to end at 20.84.
1,157 stocks on the NSE ended with gains while 756 stocks posted losses.
How Did The Sectoral Indices Fare
API-Linked Stocks Buzzing In Trade
- Glenmark: Gains as much as 6.3% to Rs 509.3. Trades at the highest level in two months. Has gained in five out of the last six trading sessions. 16 out of the 27 analysts tracking the stock have a buy recommendation. Based on the 12-month Bloomberg consensus data, the stock has a return potential of 12%.
- Laurus Labs: Gains as much as 7.8% to Rs 402.8. Trades at a record high. Up for the sixth straight day. Longest winning streak since September 2020. Seven out of the 10 analysts tracking the stock have a buy rating. The stock trades near its 12-month Bloomberg consensus price target of Rs 399.7.
- Granules India: Gains as much as 7.2% to Rs 332.7. Trades at a three-week high. Nine out of the 11 analysts tracking the stock have a buy rating. Based on the 12-month Bloomberg consensus data, the stock has a return potential of 35.5%.
FMCG Index Among Top Sectoral Gainers
Power Market Update For March 2021 By Indian Energy Exchange
- Power market trades highest ever monthly volume of 8,249 million units, a growth of 92% year-on-year
- For FY21, the exchange had highest ever yearly electricity volume of 73,941 million units, a growth of 37% year-on-year
- Power market clearing price at Rs 2.82 per unit in FY21, down 6.2% from last year.
- Real-time electricity market trades highest ever monthly volume of 1,414 million units in March.
- Shares gained as much as 7.6% to Rs 367.65.
The Road Ahead For D-Mart
All Stocks On The Nifty Pharma Index Gain
Benchmark Indices Pare Gains
- Nifty up 4 points at 14,643
- Sensex down 0.1% at 49,095
- Nifty Bank down 0.6% at 32,471
- Nifty Midcap index up 0.7%
- Nifty Smallcap index up 0.9%
- India Volatility Index down 0.5% to 21.11
- Nifty Metal and Nifty Pharma remain the top sectoral gainers; up 1.3% each
- Nifty Realty and Nifty FMCG indices gain 0.7% each
- Most other sectoral indices trade little changed
- Adani Ports remains the top Nifty gainer; up 8.3%
- Grasim remains the top Nifty laggard; down 1.4%
- 1,131 stocks on the NSE trade with gains while 726 are declining
Boost To Tata Steel's Ratings
Jefferies Tweaks Its Model Portfolio
GM Breweries Q4FY21 (Standalone, YoY)
- Net sales up 17% to Rs 127.7 crore Vs Rs 108.9 crore
- Net profit up 154% at Rs 45.3 crore Vs Rs 17.8 crore
- Ebitda up 46% at Rs 27.5 crore Vs Rs 18.8 crore
- Ebitda margin at 5.9% Vs 4.7%
- Higher other income contributes to growth in net profit
- Other income at Rs 26.2 crore Vs Rs 6.8 crore
- Declared dividend of Rs 4 per share
Shares gained as much as 8.7% to Rs 481.1 - the highest since July 2019. The stock is up for the fourth straight day.
Record High For Adani Ports
Navin Fluorine At Record High
- Top gainer on the Nifty Midcap index
- Gains as much as 8.6% to Rs 2,975
- Has gained in four out of the last five trading sessions
- Today's volumes are six times its 20-day average
- One-month implied volatility is 37%
- Stock near overbought territory with Relative Strength Index (RSI) at 68
- 13 out of the 19 analysts tracking the stock have a buy rating; 1 sell call
- The stock crossed its 12-month Bloomberg consensus price target of Rs 2,807 in today's session
Panacea Biotec Signs Deal With RDIF
Benchmark Indices Hold On To Modest Gains
- Nifty up 0.5% at 14,710
- Sensex up 0.4% at 49,354
- Nifty Bank up 0.2% at 32,747
- Nifty Midcap index up 1%
- Nifty Smallcap index up 1%
- India Volatility Index down 1.4% to 20.9
- Nifty Metal index remains the top sectoral gainer; up 1.3%
- Nifty Realty index up 1.1% while Pharma index up 1%
- FMCG index gains 0.8% while PSU Bank index gains 0.7%
- Nifty Media index is the only sectoral laggard; down 0.25%
- Adani Ports is the top Nifty gainer; up 8.4% and is trading at a record high
- 40 out of the 50 index constituents trade with gains
- Grasim is the top Nifty laggard; down 0.8%
- 1,327 stocks on the NSE trade with gains while 496 stocks decline
The Two Risks For India's Equity Markets
Seventh Day Of Gains For The Metal Index
The Pandemic Impact
JSW Steel Looks For Diversification
Benchmark Indices Fluctuate Between Gains & Losses
- Nifty up 0.5% at 14,708
- Sensex up 0.4% at 49,362
- Nifty Bank up 0.4% at 32,806
- Nifty Midcap index up 0.7%
- Nifty Smallcap index up 0.9%
- India Volatility Index little changed at 21.18
- Nifty Pharma and Nifty Metal indices are the top sectoral gainers; up 1.3% each
- PSU Bank and Nifty Auto indices gain 0.8% each
- Nifty Media index is the only sectoral laggard; down 0.3%
- JSW Steel is the top Nifty gainer; up 2.9%
- 43 out of the 50 Nifty constituents advance
- Titan is the top Nifty laggard; down 0.9%
- 1,328 stocks on the NSE trade with gains while 400 stocks decline
Rally Masks Concerns Around The Stock?
A Steady Start To The Trading Day
Indian equities opened with gains but pared them soon after on Tuesday. Sentiment across the Asia-Pacific is mixed but Wall Street scaled new highs overnight.
The S&P BSE Sensex opened 0.6% higher at 49,441 while the NSE Nifty 50 index rose 0.7% at the start of trade to open at 14,737. Both benchmark indices pared their respective gains soon after market opening.
Both benchmark indices, despite ending with losses of over 1.5% on Monday, ended off the lowest point of the day.
Among the sectoral indices, the Nifty Bank index has opened with gains of 0.7% or nearly 250 points. The Nifty Metal index has opened with gains of 1% while the Nifty I.T. index has opened with gains of 0.8%.
The Nifty Auto index is up 0.7% while the PSU Bank and FMCG indices have opened with gains of 0.4% each. The Media index trades little changed after a sharp drop on Monday.
Broader markets have opened largely in-line with the benchmark indices. The Nifty Midcap and Smallcap indices have both opened with gains of 0.6% each.
Current Market Update
Worries Over Rising Cases Remain
Good Morning!
Indian equities ended Monday's session on a weak note, despite recovering from the day's low. Rising coronavirus cases kept sentiment in check. The country reported over 1 lakh new infections for the first time since the onset of the pandemic.
Selling pressure was seen across the board with financials leading the laggards. Only IT and metal stocks managed to buck the trend. Foreign investors sold shares worth close to Rs 1,000 crore on Monday.
Futures are pointing to a subdued start for Tuesday's trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 14,708, as of 8:00 a.m.
Stocks like Bajaj Finance, Sobha, JSPL, RBL Bank, among others, will be in focus on account of their quarterly business updates released after market hours on Monday.
Asian equities are mixed this morning, despite their peers in the U.S. hitting a record high overnight. Benchmark indices in Japan and China dipped, while those in Australia outperformed. Hong Kong markets remain shut on account of a holiday.
- Futures on the Dow Jones are trading 70 points lower. The index ended with gains of 1.1% on Monday.
- Yield on the 10-year treasuries stood at 1.68%.
- West Texas Intermediate crude rose 1.2% to $59.37 per barrel after a 4.6% drop on Monday.
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