Today’s Market Summarised

Nifty opens with a big gap-up, then shows consolidation and closes slightly higher.

Nifty opened the day with a gap-up at 15,876 and moved sideways. The whole index traded in a range of less than 60 points throughout the day, and could not even test 15,900. Even with the intraday fall, a quick covering was seen. Nifty ended the day at 15,885, up 122 points or 0.77%.

Bank Nifty opened at 34,764 and moved sideways through most of the day. 34,700 was broken after 2:30 PM, and there was some sharp fall. However, Bank Nifty recovered and closed the day at 34,710, up 125 points or 0.37%.

Nifty Realty was highly bullish from the morning itself and closed 4.7% up. Nifty Auto gained 1.3% and all the other indices closed with consolidation in the green.

Asian markets closed in the green. European markets are all trading in the green as of our market close.

News Picks

Shree Cements(+3.6%) closed as the Nifty 50 top gainer. Grasim(+2.6%) also gained well. Ambuja Cements(+1.6%) is planning to invest Rs 310 crores to expand the Ropar unit in Punjab.

Eicher Motors(+2.86%) and M&M(+1.9%) closed in the green, powered by July sales data. TVS Motors moved down 1%.

Oil stocks BPCL(+2.7%) and IOC(+2.2%) moved up, with ONGC(+1.5%) and HindPetro(+4.46%) also closing in the green.

Adani Ports moved 2.5% up on expectations of results publishing tomorrow. Adani Ent(+1.2%) also closed in the green ahead of results.

Realty’s multi-year breakout continued with DLF(+4.2%), Godrej Properties(+3.4%), Oberoi Realty(+9.9%), Phoenix Mills(+3.8%), Prestige(+6.9%), IBREALEST(+4.1%), Brigade(+2.4%), Sobha(+7.3%) and Sunteck(+6.3%) shooting up in the day.

Titan(+3.3%) closed near its record high ahead of results on Wednesday.

Hindustan Zinc is looking to start its business in Bangladesh and planning to set up a maintenance and processing factory in Gujarat. The stock closed 1.2% up.

CholaFin moved up 10.6% despite lower-than-expected Q1.

Pi Industries moved up 12.4% after acquiring API Business of IndSwift. Meanwhile, IndSwift Labs fell 14%.

Economic re-opening linked stocks including IRCTC(+5.9%), EaseMyTrip(+9.8%), IndHotel(+1.6%) gained sharply. IRCTC was also boosted by stock split expectations.

Angel Broking(+10% Upper Circuit) and ICICI Securities(+2.7%), 5Paisa(+1%), Geojit(+6.5%) and IIFL(+2.2%) shot up after expectation the new lower freeze limits will generate more income for broking firms.

CONCOR(+7.3%) continued post-results rally and benefit of Land License Fee.

Tata Power(+6.7%) closed higher after being the first Distribution Company in Delhi to meet 100% renewable target.

IDFC First Bank opened nearly 6% down after the bad results, but managed to close flat.

HDFC(+0.8%) saw volatility and closed flat after Q1 standalone net profit at Rs 3,000 crores vs Rs 3,055 crores last year vs Rs 3180 crores last quarter. 

Varun Beverages moved up after reporting Q1 consolidated net profit at Rs 308 crores, up more than 150% QoQ. The stock closed 3.5% up.

SML Isuzu(+6.8%) posted an 79% increase in total sales to 551 units compared to the last year.

Carborundum Universal moved up 5.2% after reporting Q1 consolidated net profit at Rs 77.1 crores, up nearly 4x YoY.  

Markets Ahead

India’s July Manufacturing PMI came out at 55.3 against 48.1 last month. Beats the estimate at 50.5.

Also, India’s July Unemployment rate dropped to 6.95% from 9.17% in June. 

Nifty finally showed a day of strength, staying flat intraday. Even the intraday fall today was not powerful as other days and Nifty bounced back to close near the day-high. The 15,900 zone remains important for the index.

Bank Nifty did not show the same strength and saw closing below the 34,800 mark.

Realty stocks are continuing their strength after the strong breakout. Expecting more in the coming days along with a fresh rally in Metal stocks also.

Bank Nifty is keeping calm but will likely give a clear direction after SBI’s results on Wednesday. HDFC’s results today slightly missed estimates but the stock kept steady.

If you are tracking stock specific moves, be sure to keep the results announcements in mind before entering positions. More and more companies are set to report their results this week.

Hope you had a great start to the week! Let’s hope that it continues with Nifty touching 16,000 and above!

Catch you all at The Stock Market Show sharp at 6:30 PM!