"Pre - Stock Market Setup" For April 12th, 2021
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Pre Market Analysis For April 12th, 2021
1. Market Movement on (April 9th, 2021)
- Nifty opened the day at 14,884 and fell to 14,800 in the 10 minutes of market opening. It tried to move back up but just mostly consolidated over the day. Even the fall after 1 pm did not have much power. Nifty closed the day at 14,834, down 38 points or 0.26%.
- Bank Nifty was bearish in the day, falling nearly 300 points after opening at 32,637. With some power mainly from SBI, the index tried to move up but could not even reach the 33,000 level. Bank Nifty saw consolidation towards the end to close at 32,448, down 334 points or 1.02%.
2. SGX Nifty
Trends on SGX Nifty indicate a negative opening for the index in India with a 77 points loss. The Nifty futures were trading at 14,795 on the Singaporean Exchange around 07:30 hours IST.
3. Top 5 Stocks UP (Gainers)
| Company | Current | % Gain |
|---|---|---|
| Cadila Health | 514.45 | 9.29 |
| Glenmark | 529.65 | 4.9 |
| Cipla | 883.05 | 4.88 |
| Alkem Lab | 2,832.30 | 4.65 |
| Alembic Pharma | 1,014.00 | 4.21 |
4. Top 5 Stock DOWN (Losers)
| Company | Current | % Loss |
|---|---|---|
| AU Small Finance | 1,174.50 | -6.18 |
| Bajaj Finance | 4,872.30 | -3.13 |
| IDFC First Bank | 55.80 | -2.87 |
| Vedanta | 231.35 | -2.69 |
| INDUS TOWERS | 256.75 | -2.65 |
5. Option Data
- Call option data
Maximum Call open interest of 21.23 lakh contracts was seen at 15,000 strike, which will act as a crucial resistance level in the April series.
This is followed by a 15,500 strike, which holds 15.59 lakh contracts, and a 14,500 strike, which has accumulated 8.73 lakh contracts.
- Put option data
Maximum Put open interest of 36.33 lakh contracts was seen at 14,000 strike, which will act as a crucial support level in the April series.
This is followed by a 14,500 strike, which holds 31.48 lakh contracts, and a 14,800 strike, which has accumulated 14.44 lakh contracts.
6. Global Cues
- The S&P 500 and Dow closed at record highs Friday, on a wave of late-buying in tech and strength in banking stocks as investors look ahead to the start of quarterly earnings season next week.
- The S&P 500 rose 0.73%, to close at a record level of 4,127.09, the Dow Jones Industrial Average rose 0.89%, notching 297 points and closing at an all-time high of 33,800.60. The Nasdaq Composite was up 0.51%.
- China fines Alibaba record $2.75 billion for anti-monopoly violations.
- Berkshire Hathaway gives activists the okay to phone it in on May 1.
7. FIIs & DIIs Data
Foreign institutional investors (FIIs) net sold shares worth Rs 653.51 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 271.26 crore in the Indian equity market on April 9, as per provisional data available on the NSE.
8. Bulk Deals
9. Results on April 12, 2021
Tata Consultancy Services, HDIL, California Software, Cupid Trades & Finance, and Lloyds Metals and Energy will announce their quarterly earnings on April 12.
10. Stock in the News
- Infosys: The IT services major will consider the proposal for the buyback of equity shares of the company on April 14, the firm announced in its BSE filing on April 11.
- Solara Active Pharma Sciences: The board of directors of the company approved the amalgamation of Aurore Life Science, Empyrean Lifesciences and Hydra Active Pharma Sciences with itself. "The combination creates a pure-play API company of scale with strong presence in regulated markets, emerging markets, a broad product portfolio, robust operations infrastructure, excellent R&D capabilities and clear synergies to further accelerate growth for the combined entity," Solara said in its BSE filing.
- Barbeque Nation Hospitality: UTI Mutual Fund acquired a 1.7752% equity stake in casual dining restaurant chain operator Barbeque Nation via open market operations on April 8, taking its total shareholding in the company to 5.0188%.
- Castrol India: Castrol and Ki Mobility Solutions have entered into an exclusive supply arrangement in India wherein Castrol shall supply lubricant products to Ki Mobility's multi-brand workshops.
- Balrampur Chini Mills: The company informed exchanges that rating agency ICRA has re-affirmed the credit ratings for both long-term and short-term as 'AA' and 'A1+', respectively. However, the outlook on the long-term rating has been revised from Stable to Positive, it said.
- JSW Steel: State-owned Life Insurance Corporation of India held a 4.80% equity stake (11,60,57,427 equity shares) in JSW Steel as of March 2021, increasing from 4.02% shareholding held by LIC itself in the name of LIC New Endowment Plus-Growth Fund at the end of December 2020.
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