Sensex, Nifty Gain For Third Day; Metals Shine, Banks Drag

Indian equities gained for the third straight day on Thursday. However, volatility related to the weekly options expiry dragged the indices lower from their respective day's high.

The S&P BSE Sensex rose 0.2% to end at 49,746 while the NSE Nifty 50 index rose 0.4% to end at 14,873. The three-day winning streak for the Sensex & the Nifty is the longest in a month.

Among the sectoral indices, the Nifty Metal index ended as the top sectoral gainer. The index rose for the ninth straight day, which is the longest winning streak since December 2013. The 15-stock index ended with gains of 4% with stocks like JSW Steel Ltd. and Tata Steel Ltd. ending at a record high.

Technology stocks were the other outperformers in today's session. The Nifty I.T. index ended with gains of 1.2%. The Nifty Realty index finished 0.8% higher.

Banking and Financial stocks were the laggards in today's session. The Nifty Bank corrected nearly 600 points from the day's high to end 200 points lower at 32,782. The PSU Bank index also fell 0.8% in today's session.

Broader markets outperformed in today's session. The Nifty Midcap index rose 0.5% while the Smallcap index ended with gains of 1.2%.

The India Volatility Index recovered from the day's low to end 0.3% higher at 20.31.

1,233 stocks on the NSE ended with gains while 668 stocks posted losses.

• Gross advances up 4.75% year-on-year to Rs 7,121.94 crore
• Gold Loan up 48.1% year-on-year to Rs 1,883.07 crore
• Total deposits up 7.3% year-on-year to Rs 11,699.1 crore
• CASA Ratio at 33.4% Vs 32.3% in December 2020

• Top gainer on the Nifty 50 index
• Gains as much as 13.6% to Rs 639
• Biggest single-day gain since May 2009
• Up for the ninth straight day
• Longest winning streak in eight months
• Has gained 43% over the last nine trading sessions
• Today's volumes are over five times its 20-day average
• One-month implied volatility at 54%
• Stock in overbought territory with Relative Strength Index (RSI) at 90
• 19 out of the 32 analysts tracking the stock have a buy recommendation; 5 sell calls
• The stock trades 25.8% higher than its 12-month Bloomberg consensus price target of Rs 473

• Nifty up 0.9% at 14,956
• Sensex up 0.7% at 49,996
• Nifty Bank up 0.5% at 33,147
• Nifty Midcap index up 1%
• Nifty Smallcap index up 1.6%
• India Volatility Index down 2% to 19.85
• Nifty Metal extends gains as the top sectoral gainer; up 5.6%
• Nifty Realty index gains 1.3% while I.T. index is up 1.1%
• Nifty Pharma and FMCG indices gain 0.6% each
• JSW Steel is the top Nifty gainer; up 13.4% - biggest single-day gain since 2009. Stock trades at a record high
• 42 out of the 50 index constituents trade with gains
• Bajaj Auto is the top Nifty laggard; down 0.5%
• 1,401 stocks on the NSE trade with gains while 474 stocks decline

• Achieved revenue growth of ~40% year-on-year in Q4FY21
• Non-covid business revenue increased by ~21% year-on-year
• Quarterly performance not directly comparable with the base quarter due to lockdown
• Highest ever monthly revenue in March 2021 with strong growth in non-covid business
• RT-PCR tests stood at ~14% of total revenue in Q4FY21 as compared to 19% in Q3 due to reduction in prices.
• Number of patient visits rose ~30% year-on-year to 3.18 million from 2.45 million
• Ebitda margins remain at healthy levels courtesy strong revenue growth, better tests mix, cost optimisation efforts and operational efficiencies

Graphite India:

• Gains as much as 13.2% to Rs 740
• Trades at the highest level since January 2019
• Has gained 30% over the last three trading sessions
• Today's volumes are more than six times its 20-day average
• Stock in overbought territory with Relative Strength Index (RSI) at 80.5
• Four out of the six analysts tracking the stock have a buy rating
• The stock trades 25.3% higher than its 12-month Bloomberg consensus price target of Rs 520.8

HEG:

• Gains as much as 10% to Rs 2,368.7
• Trades at the highest level since February 2019
• Has gained 51% over the last three trading sessions
• Today's volumes are more than quadruple times its 20-day average
• Stock in overbought territory with Relative Strength Index (RSI) at 82
• Three out of the Four analysts tracking the stock have a buy rating
• The stock trades 24.4% higher than its 12-month Bloomberg consensus price target of Rs 1,748.7

• Nifty up 0.7% at 14,918
• Sensex up 0.6% at 49,935
• Nifty Bank up 0.3% at 33,074
• Nifty Midcap index up 1.1%
• Nifty Smallcap index up 1.6%
• India Volatility Index down 1.6% to 19.92
• Nifty Metal index remains the top sectoral gainer; up 2.4%
• Nifty I.T. index gains 1.3% while Nifty Realty and Nifty Auto indices gain 1.1% each
• Nifty Pharma index up 0.8% while PSU Bank index gains 0.6%
• JSW Steel remains the top Nifty gainer; up 3.7%
• 45 out of the 50 index constituents trade with gains
• SBI Life is the top Nifty laggard; down 0.7%
• 1,415 stocks on the NSE trade with gains while 422 decline

• Nifty up 0.8% at 14,937
• Sensex up 0.8% at 50,047
• Nifty Bank up 0.7% at 33,214
• Nifty Midcap index up 0.7%
• Nifty Smallcap index up 1.4%
• India Volatility Index down 2.3% to 19.8
• Nifty Metal index is the top sectoral gainer; up 1.7%. The index is up for the ninth straight day, its longest winning streak since December 2013. It is also trading at the highest level since April 2011.
• Nifty I.T. index gains 1.2% while Realty and Auto indices up 1% each
• Nifty PSU Bank and Nifty Pharma indices gain 0.6% each
• Hindalco is the top Nifty gainer; up 2.5%
• 46 out of the 50 index constituents trade with gains
• ONGC is the top Nifty laggard; down 0.7%
• 1,445 stocks on the NSE trade with gains while 327 decline

• Registrations were down 28.64% year-on-year but rose 10% month-on-month
• Tractors registrations up 29.2% to 69,082 units Vs 53,463 units
• Passenger Vehicle registrations up 28.4% to 2,79,745 units Vs 2,17,879 units
• Two-wheeler registrations down 35.2% to 11,95,445 units Vs 18,46,613 units
• CV registrations down 42.2% to 67,372 units Vs 1,16,559 units
• Three-wheeler registrations down 51% to 38,034 units Vs 77,173 units
• 47% PV dealers said they lost over 20% of sales due to supply side constraints
• Two-wheelers saw its steepest decline over the last few months
• Bus segment continues to suffer

Indian equities have opened higher for the third straight day, beginning the weekly options expiry session on a steady note.

The S&P BSE Sensex opened 0.45% higher at 49,885 while the NSE Nifty 50 index opened 0.4% higher at 14,875.

Most sectoral indices have opened with gains this morning. The Nifty Bank index has opened 150 points or 0.5% higher at 33,154 while the PSU Bank index, which was the top sectoral gainer on Wednesday, opened 0.7% higher.

The Nifty Metal index opened higher for the ninth straight day, with gains of 0.9%.

The Nifty Auto index has opened 0.6% higher while Nifty I.T. and FMCG index are up 0.3% each.

Broader markets have opened higher as well. The Nifty Midcap and Smallcap indices have both opened with gains of 0.6% each.

Good Morning!

Indian equities gained for the second day in a row on Wednesday on policy announcements made by the Reserve Bank of India. The gains were led by banking, auto and technology stocks as the fourth-quarter earnings season draws near.

The rupee, however, saw its biggest single-day drop since August 2019 to fall to its lowest in four months.

Futures are pointing to a steady start to Thursday's weekly options expiry session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.4% to 14,918, as of 8:10 a.m.

Asian equities are mixed this morning with benchmarks in Japan declining amid concerns that Tokyo may adopt stricter steps to curb the rising coronavirus cases. Australian markets outperformed, while those in China and Hong Kong fluctuated.

• Futures on the Dow Jones are trading 50 points higher. The index ended flat on Wednesday.
• Yields on the 10-year treasuries stood at 1.67%, while West Texas Intermediate crude fell 0.6% to $59.42 per barrel.