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Sgx Nifty Indicates Positive Opening; Hsil And Zydus Wellness To Declare Q4 Results Today

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By Author: Marketsmith India
Total Articles: 49
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At 8:00 am IST, SGX Nifty Futures was trading at 15,008, compared with Nifty’s close of 14,823 on Friday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Two

Global stock markets: Dow30, +0.7%; S&P 500, +0.7%; Nasdaq, +0.9%; Kospi, +1.1%; Nikkei, +0.9%; Shanghai Composite, -0.1%

Nifty traded below its 50-DMA for the first four trading sessions last week. However, it found support at its 100-DMA in the first three trading sessions and closed above it. Historically, 100-DMA has been a good support for Nifty. On Friday, the index gapped up almost 100 points and traded in a narrow range throughout the session. Thus, it reclaimed its 50-DMA. Trading volume remained below average this week.

On the sectoral front, Nifty Metal (+10.7%) was the top gainer last week, followed by Nifty PSU Bank (+2.9%). On the flip side, Nifty Realty and Pvt Bank closed 0.6% and 0.2% lower, respectively. Friday, the advance-decline ratio was in favor of advancers. Of the 2,251 stocks traded, 1,058 advanced, 826 declined, and the rest remained unchanged.

Looking ...
... ahead, without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. Stocks that are breaking out of consolidation with higher relative strength and superior fundamentals can do well. Continue to trim or avoid ideas lagging and/or breaking down below major moving averages.


Key News:

DMART announced Q4 FY21 results on May 8. Revenue grew 18.5% y/y to Rs 7,411 crore. PAT increased 52.8% to Rs 414 crore.

BANDHANBNK announced Q4 FY21 results on May 8. NII rose 4.6% y/y to Rs 1,757 crore. PAT was down to Rs 103 crore compared to a profit of Rs 517 crore y/y.


Related Article:

How to Identify Market Top: Distribution Days Give an Idea

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Welspun India Stock Is Breaking Out To New Highs

For more details Please visit :

SGX Nifty Indicates Positive Opening; HSIL and Zydus Wellness to Declare Q4 Results Today

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