May 7, 2021

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Traders’ Guide: Market may see a strong correction if Nifty breaches below 14,200 level, say analysts

10 min read

The market went on a downhill on Monday as India recorded its highest-ever surge in Covid cases. Investors’ wealth declined by Rs 8.69 lakh crore as the total market capitalisation of BSE-listed companies came down to Rs 200.94 lakh crore. The 30-share pack Sensex plunged 1,707.94 points or 3.44 per cent to close at 47,883.38. Its broader peer NSE Nifty tanked 524.05 points or 3.53 per cent to settle at 14,310.80.

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These unscrupulous elements, who are cheating investors or the public using the name of Sebi have already come to the notice of the markets watchdog and the regulator has cautioned the investors and the general public against such traps.

Ahead of Market: 12 things that will decide stock action on Tuesday

“The new short-term range for the index will be in the 14,200-14,700 range,” said Gaurav Ratnaparkhi of Sharekhan.

Ahead of Market: 12 things that will decide stock action on Tuesday

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TCS reports strong Q4 numbers: Will the momentum sustain?

While its stock has gained over the past few days following the anticipation of robust quarterly performance and weakness in the rupee against the dollar, the latest quarterly numbers may help it sustain the current valuation.

TCS reports strong Q4 numbers: Will the momentum sustain?

How the RBI intervened to arrest rupee’s fall

The central bank, according to market sources, net sold an estimated $600 million in the exchange traded futures market to arrest the rupee’s free fall against the dollar amid apprehension that a renewed lockdown, triggered by a second wave of Coronavirus may scuttle a nascent economic recovery.

How the RBI intervened to arrest rupee’s fall

We will buy consistently in this market fall: Saurabh Mukherjea

We will carry on buying, we have done so over the last year or so and we will carry on doing so over the next week especially if the correction goes a little deeper, says the founder of Marcellus Investment Managers.

We will buy consistently in this market fall: Saurabh Mukherjea

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Sebi slaps Rs 25 crore fine on YES Bank in AT-1 bonds case

The watchdog has imposed a fine of Rs 1 crore on Vivek Kanwar, who was the Managing Director of Yes Bank, Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga, who were part of the bank’s private wealth management team at the time of violation.

Sebi slaps Rs 25 crore fine on YES Bank in AT-1 bonds case

CCI approves Poonawallas’ stake buy in Magma Fincorp

According to a combination notice filed with the regulator, the transaction involves acquisition of 60 per cent stake by Rising Sun Holdings and 4.68 per cent shareholding by the two promoters by way of preferential allotment of equity shares.

CCI approves Poonawallas' stake buy in Magma Fincorp

Market Watch: Themes that can help you sail against the tide

Tune in as we discuss how badly COvid 2.0 may affect D-St, what investors should do, and more!

Market Watch: Themes that can help you sail against the tide

2 stocks that are likely to benefit from sharp rise in electrode prices

After a lacklustre trend in 2020, electrode prices have gained 10-15% in the past two weeks. Electrodes are used in the EAF method of steel production which is less polluting than the conventional blast furnace method.

2 stocks that are likely to benefit from sharp rise in electrode prices

Nasdaq opens lower; earnings, data in focus

The Dow Jones Industrial Average fell 19.54 points, or 0.05%, at the open to 33,781.30. The S&P 500 opened lower by 2.66 points, or 0.06%, at 4,126.14, while the Nasdaq Composite dropped 47.75 points, or 0.34%, to 13,853.02 at the opening bell.

Nasdaq opens lower; earnings, data in focus

TCS Q4 results: Consolidated PAT rises 15% YoY, misses estimates; board okays Rs 15/sh dividend

Analysts polled by ETMarkets.com had expected the company to report a topline of Rs 43,574.7 crore and a bottomline of Rs 9,305.9 crore.

TCS Q4 results: Consolidated PAT rises 15% YoY, misses estimates; board okays Rs 15/sh dividend

For Gail, recovery is on the cards: Why it is stock pick of the week

Gail is in the process of implementing several pipelines. Since 70% of its revenues come from three main pipelines, divestment of any of them through the InvIT route which government is planning to do, will result in company’s rerating. This has made the company a favourite of analysts.

For Gail, recovery is on the cards: Why it is stock pick of the week

Stocks that helped PMSes focused on smallcaps, midcaps outperform in March

Saurabh Mukherjea, Founder, Marcellus Investment Managers, thinks Indian specialty chemicals today is where the pharma sector stood in the mid-1990s — on the cusp of a golden 20-year run.

Stocks that helped PMSes focused on smallcaps, midcaps outperform in March

Tech View: Nifty trend turns negative; consider sell on rise

Fibonacci retracement showed the index went down to hit the 61.8 per cent retracement of the February rise, said Gaurav Ratnaparkhi of Sharekhan.

Tech View: Nifty trend turns negative; consider sell on rise

PSU bank stocks plunge up to 12% on asset quality woes

Nifty PSU Bank plunged 9.26 per cent led by Indian Bank, Canara Bank, Punjab National Bank and Bank of India that dropped over 10 per cent each in a single session.

PSU bank stocks plunge up to 12% on asset quality woes

F&O: Nifty50 breaks immediate support; VIX signalling weakness

As long as Nifty remains below 14,500 level, weakness can continue for a downside move towards 14,100 and the psychologically important 14,000 levels, while on the upside, hurdles are seen at 14,650 and 14,800 levels.

F&O: Nifty50 breaks immediate support; VIX signalling weakness

Investing 101: The hazards of copying Buffett and Munger

Most people who think that nothing is to be learned are actually doing so because they are talking not about learning, but copying. There’s a world of difference between learning and copying.

Investing 101: The hazards of copying Buffett and Munger

This is how the 30-pack Sensex moved in today’s session. It touched a high of 48,956.65 and a low of 47,693.44 to finally settle at 47,883.38

This is how the 30-pack Sensex moved in today's session. It touched a high of 48,956.65 and a low of 47,693.44 to finally settle at 47,883.38

CLOSING BELL: Sensex dives 1,708 pts, logs worst fall since Feb 26; Nifty below 14,350; India VIX surges 15%

  • Financials and RIL lead the market fall
  • 29 of 30 Sensex stocks end the day in the red
  • Index contributors: RIL, HDFC Bank, ICICI Bank, HDFC, Bajaj Finance
  • Top Index gainers: DRL (7.04%)
  • Top Index losers: IndusInd Bank (8.54%), Bajaj Finance (7.25%), SBI (6.33%)
  • All BSE sectoral indices end the day in the red
  • S&P BSE REALTY biggest sectoral loser, down 7.70%
  • Volume toppers: SBI, Bajaj Finance, RIL, Infosys, ICICI Bank
CLOSING BELL: Sensex dives 1,708 pts, logs worst fall since Feb 26; Nifty below 14,350; India VIX surges 15%

Tourism and hospitality stocks bleed. Here are the top laggards

Price as on 12 Apr, 2021 03:24 PM, Click on company names for their live prices.

Samir Arora explains how to spot value amid volatility

Samir Arora explains how to spot value amid volatility

Individuals seeking yield in India snap up risky firms’ debt

Individuals seeking yield in India snap up risky firms’ debt

We would like to buy dips, and expect the rupee to weaken against the dollar. We expect that in the next six months, the Indian economy may progress in fits and starts, and the relatively slow progress of vaccination in the country means that we will be slower to recover compared to the US. We hence would like to emphasise that we like IT, exporters (chemicals), global cyclicals and insurance, besides private banks.

– R Venkataraman, IIFL Securities

Market breadth extremely negative

Overall market breadth remained sharply lower throughout the session, with only 456 stocks trading higher against 2,463 scrips in the negative territory on BSE. On NSE, 221 stocks advanced against 1,731 that declined.

HDFC twins, RIL, ICICI Bank, Axis Bank, Bajaj Finance biggest drags on Sensex

HDFC twins, RIL, ICICI Bank, Axis Bank, Bajaj Finance biggest drags on Sensex

Selloff in financial services, oil & gas sectors weighs on Nifty

On the other hand, gains in the pharma sector offered some support to the 50-scrip index, arresting its drop.

Selloff in financial services, oil & gas sectors weighs on Nifty

Concerns about rising Covid-19 cases in the country and fears of lockdowns in some states weighed on sentiment throughout most sectors after a gap-down opening. Dalal Street tried to gain some momentum, but selling pressure intensified after the benchmark index breached the 14,500 mark.

– Gaurav Garg, CapitalVia Global Research

European stocks ease from record highs ahead of earnings season

European stocks ease from record highs ahead of earnings season

Covid 2.0 may send oilseed, edible oil prices soaring, say analysts

Covid 2.0 may send oilseed, edible oil prices soaring, say analysts

Midcap, smallcap investors singed as COVID sparks downgrade fears

Midcap, smallcap investors singed as COVID sparks downgrade fears

Investors lose Rs 8.48 lakh crore wealth as Dalal Street tanks

Infosys, HDFC, 7 other stocks that analysts say can deliver solid returns in a few weeks

Infosys, HDFC, 7 other stocks that analysts say can deliver solid returns in a few weeks

Covid 2.0: How it may pan out for Indian economy, markets?

Covid 2.0: How it may pan out for Indian economy, markets?

View: Crude likely to stay rangebound, OPEC outlook in focus this week

View: Crude likely to stay rangebound, OPEC outlook in focus this week

PNB tanks 10%, SBI 7%; Bank Nifty index tumbles 5%

Price as on 12 Apr, 2021 01:08 PM, Click on company names for their live prices.

Buy Lupin, Tata Motors, Tata Elxsi: Motilal Oswal

Here are five trading calls from the brokerage:

  • Buy Lupin, target price Rs 1,200
  • Buy Tata Motors, target Rs 400
  • Buy Ipca Laboratories, target Rs 2,480
  • Buy Tata Consumer Products, target Rs 710
  • Buy Tata Elxsi, target Rs 3,220

On BSE, 166 stocks hit upper circuit while 388 stocks hit lower circuit

Structurally positive on cement, UltraTech, Dalmia Bharat, JK Cement top picks: Motilal Oswal

Price as on 12 Apr, 2021 12:43 PM, Click on company names for their live prices.

For every stock that rose on BSE, 6 stocks fell to trade in the red.

For every stock that rose on BSE, 6 stocks fell to trade in the red.

Nifty Pharma index climbs over 1%

Price as on 12 Apr, 2021 12:29 PM, Click on company names for their live prices.

Praj Industries bags order for syrup-based ethanol plant from Godavari Biorefineries

Praj Industries on Monday said it has bagged an order to set up a syrup-based ethanol plant from Godavari Biorefineries in Karnataka.As a part of this project, Praj will expand the existing ethanol manufacturing capacity of Godavari Biorefineries from 400 KLPD (kilo litre per day) to 600 KLPD, using sugarcane syrup, Praj Industries said in a regulatory filing.

Top losers of the day

Price as on 12 Apr, 2021 12:12 PM, Click on company names for their live prices.

Investors’ wealth tumbles Rs 7 lakh crore

Investors’ wealth tumbled by Rs 6,86,708.74 crore on Monday following massive losses in the equity market as sentiments remained muted amid increasing COVID-19 cases in the country.

Maharashtra may announce 15-day lockdown soon post Ambedkar Jayanti

Maharashtra government may announce a 15-day lockdown after Ambedkar Jayanti to stem the concerning rising in COVID-19 cases in the state, a source-based report by Times Now said. Domestic stock markets slumped in reaction to the development. India’s richest state is the epicenter of an increasingly accelerating second wave of infections in the country. On Monday, India reported a record 168,912 new cases suggesting that the virus is spreading like wildfire within the country.

PSU banks among worst affected

Price as on 12 Apr, 2021 11:55 AM, Click on company names for their live prices.

Fear gauge index India VIX spikes 15 per cent

Banks shut for next 2 days: Will it impact your trades?

April 13 is a settlement holiday on account of Gudi Padwa, said brokers. A settlement holiday is a day when trading is possible but clearing and settlement are closed for the pay-in and pay-out of stocks and funds. On April 14, the financial market as well as banks will be closed on account of Ambedkar Jayanti. Hence, settlement will not take place on that day either.

Praj Industries bags order for syrup-based ethanol plant from Godavari Biorefineries

Praj Industries on Monday said it has bagged an order to set up a syrup-based ethanol plant from Godavari Biorefineries in Karnataka. As a part of this project, Praj will expand the existing ethanol manufacturing capacity of Godavari Biorefineries from 400 KLPD (kilo litre per day) to 600 KLPD, using sugarcane syrup, Praj Industries said in a regulatory filing.

49 stocks hit 52-week highs on NSE

Among the stocks that touched their 52-week highs on NSE were: Cadila Healthcare, Cipla, Infosys, Dr. Lal Path Labs, MindTree, Prabhat Dairy, Nureca, Supreme Petrochem, Mphasis, Coforge and Aurionpro Solutions.

Domestic equities do not look to be inspiring at the moment. A sharp increase in COVID-19 daily cases in the country, and possibility of large economic restrictions are expected to keep investors nervous in the near term. Further, the possibility of lockdown in large states like Maharashtra will weigh on investors’ sentiments.

– Binod Modi, Head Strategy at Reliance Securities

Financial stocks among the worst affected

Price as on 12 Apr, 2021 11:23 AM, Click on company names for their live prices.

Paytm shares rebound, but dry up fast in unlisted market

The unlisted shares of Paytm promoter One97 Communications have surged up to 25 per cent from Rs 9,000-9,500 to Rs 11,000-11,500 in the last one quarter. The scrip still trades 40 per cent below the lifetime high of Rs 18,500-19,000 which it had scaled before the pandemic.

JMC bags new orders worth Rs 1,262 cr

Kalpataru Power Transmission arm JMC Projects has won new orders worth Rs 1,262 crore. “Kalpataru Power Transmission Projects arm JMC Projects , a civil engineering and EPC company has secured new orders of Rs 1,262 crore (received orders of Rs 431 crore in March 2021 and Rs 831 crore in month of April 2021 till date),” a BSE filing said.

Pharma stocks buck trend

Price as on 12 Apr, 2021 11:01 AM, Click on company names for their live prices.

Man Industries bags new order worth Rs 766 cr

Pipe manufacturer Man Industries on Monday said it has bagged a new order worth Rs 766 crore. “The company has received a new order worth Rs 766 crore from the domestic hydrocarbon sector,” Man Industries said in a regulatory filing.

Rupee slips below 75/USD level in early trade ahead of release of key macroeconomic data

The rupee opened on a weak note and fell below the 75 per US dollar level in early trade on Monday amid lacklustre opening in domestic equities ahead of the release of key macro-economic data. Moreover, rising crude oil prices, foreign fund outflows, spiking COVID-19 cases and heavy selling in domestic equities weighed on the domestic currency. At the interbank foreign exchange, the rupee opened at 74.97 then lost further ground and fell to 75.14 against the US dollar, showing a decline of 41 paise over its previous closing. The Indian rupee on Friday had closed at 74.73 against the US dollar.

Stocks that are down 5% or more

On the BSE, Gujarat Hy-Spin (down 15.52 per cent) , Lambodhara Textiles (down 15.20 per cent) , Ram Info (down 14.97 per cent) , Dhanalaxmi Roto (down 14.82 per cent) , Adhunik Industries (down 13.43 per cent) , Oriental Trimex (down 13.26 per cent) , Bharat Bhushan (down 12.18 per cent) , SPML Infra (down 11.96 per cent) , Indbank Merchant Banking (down 11.53 per cent) and Country Club Hospitalities (down 11.11 per cent) were among the top losers.

Rupee fall key reason for market turmoil: Sandip Sabharwal

“If you go and do analysis of the rupee movement, 95 per cent of the time when the rupee has declined, the stock market has declined along with it. A rupee decline obviously leads to higher inflation because every RBI studies over the years have shown that a 1 per cent decline in the rupee impact inflation by 0.3 per cent. If the rupee declines by 4-5 per cent very fast, it has an adverse impact on the market,” Sabharwal said.

Tata Power tumbles 6% on terminating Petronas deal

Shares of Tata Power tumbled after the company terminated its near $2- billion investment deal with Malaysian state owned oil and gas company Petroliam Nasional Bhd (Petronas) in proposed renewable energy infrastructure investment trust (InvIT). The stock was trading down 5.81 per cent to Rs 98.10.

“Any correction due to the second wave of Covid 19 should be used as an entry point,” Prabhudas Lilladher said in a note.

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