News Shots

marketfeed, a learning first social stock trading platform, developed by Kerala based startup fundfolio has been selected by the prestigious Silicon Valley based startup accelerator YCombinator for its incubation programme, and has raised a seed fund of $125,000. 

Adani Ports and Special Economic Zone reported a 77.04 per cent jump in consolidated net profit to Rs 1,341.69 crore for the first quarter of the current financial year.

Bharti Airtel reported a consolidated net profit of Rs 284 crore for the June quarter against a loss of Rs 15,933 crore a year ago when the company had made provisioning for AGR dues.

Tata Consumer Products reported a decline of 42.05 per cent in consolidated net profit to Rs 200.24 crore for the first quarter ended June 2021, on account of one-time exceptional gains in the previous year.

Adani Enterprises reported a consolidated profit of Rs 265.60 crore for the quarter ended on June 30, 2021 on the back of higher revenue from operations.

Sterlite Technologies announced a collaboration with Facebook Connectivity to design and develop 4G and 5G radio products.

ABL Indira Projects — a joint venture between Ashoka Buildcon Ltd and city-based Indira Projects and Developments, signed an engineering, procurement and construction contract worth Rs 350 crore with the Maldives Police Service.

Indian Overseas Bank reported a 170 per cent jump in its standalone profit after tax of Rs 327 crore for the June 2021 quarter, helped by better recoveries.

Global rating agency S&P has upgraded Tata Steel’s long-term rating to BB from BB-; outlook remains stable.

Global food company Rich Products has selected TCS for intelligent supply chain modernisation to improve operations and agility.

Balaji Amines to set up a new plant to manufacture Acetonitrile. The plant will cost the company approximately Rs 80 crore and will be set up in 12 to 18 months. This will also increase the company’s capacity by 16,500 TPA from 9,000 TPA.

Major Q1 result announcements today:

  • State Bank of India
  • Titan Company
  • Adani Green Energy
  • Godrej Consumer Products
  • Adani Total Gas
  • ICICI Lombard General Insurance Company
  • Bosch
  • Tata Communications
  • Hindustan Petroleum
  • Oracle Financial Services Software
  • Apollo Tyres

What to expect today?

Yesterday was a historic day for the market as NIFTY crossed 16,000. NIFTY opened with a gap up and kept shooting up, up and up to cross the all-time high at 15,960, 16,000 and even 16,100. You can read all about yesterday’s movements here.

BANK NIFTY underperformed NIFTY in the first half but then outperformed in the second half to cross 35,000 and close above 35,200.

Almost all the sectors performed well yesterday and contributed handsomely to NIFTY, and we could see the effect throughout the day.

The European markets moved up slightly and closed in the green. The US markets closed 0.5 – 0.8% up, in the green.

Almost all Asian markets are trading in the green and doing well. European futures are trading in green while the US futures are slightly trading negatively.

SGX NIFTY is trading higher at 16,236 indicating a gap up opening in the Indian market.

The immediate supports for NIFTY is at 15,950-16,000, and 15,900.

NIFTY does not seem to be caring for resistances now!

35,400-35,500, 35,800 and 36,000 are the important resistances to be watched out for in BANK NIFTY. 

BANK NIFTY has good support at 35,000.

Foreign institutional investors (FIIs) net bought worth Rs 2116 crores, and domestic institutional investors (DIIs) net sold shares worth Rs 298 crores in the Indian equity market. 

The FIIs changing into net buyers is a major shift in behaviour, if they continue to do so today as well. It can boost our markets to move further up.

There are not many call options at all in the market, resulting in a PCR of 1.7, indicating extreme bullishness. The highest put OI buildup is 15,900, followed by 16,000. And, there are straddles at 16,100.

BANK NIFTY has also shifted the OI buildup with a high number of calls at 36,000 and 35,500. There is a major put addition at 35,000.

The local cues were already positive. Now that the global cues have also turned positive, the markets all around the world are rallying.

SBI will announce its result today. Keep an eye out as it can have a major impact on BANK NIFTY. BANK NIFTY has major catching up to do as it is far away from it’s all time high.

Everything is looking bullish as of now, but that is when you have to be cautious as well. So, trade carefully.

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!

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