SGX Nifty Indicates Muted Opening; Jubilant Foodworks and Power Finance to Report Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,846, compared with Nifty’s close of 15,811 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Two

Global stock markets: Dow30, -0.3%; S&P 500, +0.2%; Nasdaq, +0.7%; Kospi, -0.1%; Nikkei, +0.7%; Shanghai Composite, -0.8%

After a muted opening yesterday, Nifty quickly fell over 180 points within the first 30 minutes of the session. However, as the session progressed, Nifty staged an upside reversal to pare all its losses and managed to close in the green. Thus, it closed above 15,800 for the first time. Of the Nifty50 stocks, 50% closed in the green, led by Tata Motors (+1.5%) and Reliance Industries (+1.4%).

The majority of sectoral indices closed in the red. Nifty Realty (-1.5%) declined the most, followed by Media (-0.8%) and Metal (-0.7%). On the flipside, Nifty FMCG, IT, and PSU Bank gained 0.1-0.5%. The advance-decline ratio was in favor of decliners, as out of 2,303 stocks traded, 887 stocks advanced, 1,094 stocks declined, and the remaining closed flat.

Nifty is trading at an all-time high, which is a good sign and indicates further upside. One distribution day is set to expire during the week. However, if the index falls, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News:Jubilant Foodworks, Power Finance, Lic Housing Finance, Easy Trip Planners, and others will report Q4 FY21 results today.

Coal India ’s Q4 FY21 revenue fell 3.1% y/y to Rs 26,700 crore. PAT decreased 0.8% to Rs 4,588 crore.

Satin Creditcare Network announced its Q4 FY21 results. Revenue fell slightly to Rs 372 crore from Rs 375 crore in Q4 FY20. PAT surged ~250% to Rs 42 crore.

Nhpc signed a MoU with Bihar State Hydro-Electric Power Corporation (BSHPCL) for execution of Dagmara HE Project (130.1 MW).

Buy Watchlist: Kajaria Ceramics, Sequent Scientific, Bajaj Finance, Sbi Cards And Payment Services, Page Industries, State Bank Of India, Ambuja Cements, Coromandel International, Shriram Tran.Fin., Colgate-Palmolive India, Sharda Cropchem, Berger Paints India, Icici Bank, Ramkrishna Forgings, Gujarat State Petronet, Apollo Hosps.Enterprise, and Apollo Tricoat Tubes

Sell Watchlist: Advanced Enzyme Techs. and Ghcl

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SGX Nifty Indicates Negative Opening; Coal India to Report Results Today

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