Nifty 18210.95 (-0.31%)
Sensex 61143.33 (-0.34%)
Nifty Bank 40874.35 (-0.88%)
Nifty IT 35503.9 (0.97%)
Nifty Financial Services 19504.75 (-0.74%)
Adani Ports 745.85 (-0.54%)
Asian Paints 3094.65 (4.20%)
Axis Bank 787.50 (-6.46%)
B P C L 427.70 (-0.78%)
Bajaj Auto 3776.50 (-0.40%)
Bajaj Finance 7482.15 (-4.75%)
Bajaj Finserv 18012.00 (-1.86%)
Bharti Airtel 702.35 (0.88%)
Britannia Inds. 3697.85 (0.14%)
Cipla 922.50 (1.65%)
Coal India 173.60 (-0.83%)
Divis Lab. 5149.35 (2.60%)
Dr Reddys Labs 4662.70 (-0.08%)
Eicher Motors 2583.90 (-0.25%)
Grasim Inds 1728.40 (-0.63%)
H D F C 2915.00 (0.12%)
HCL Technologies 1177.15 (0.89%)
HDFC Bank 1642.80 (-0.60%)
HDFC Life Insur. 693.85 (0.55%)
Hero Motocorp 2690.15 (-0.38%)
Hind. Unilever 2396.60 (-1.65%)
Hindalco Inds. 479.85 (-1.28%)
I O C L 130.80 (-0.53%)
ICICI Bank 835.00 (0.68%)
IndusInd Bank 1142.55 (-1.07%)
Infosys 1728.95 (1.48%)
ITC 238.45 (0.74%)
JSW Steel 684.90 (-1.36%)
Kotak Mah. Bank 2188.25 (-1.03%)
Larsen & Toubro 1784.55 (-0.65%)
M & M 886.80 (-0.87%)
Maruti Suzuki 7356.25 (0.81%)
Nestle India 19004.60 (-1.11%)
NTPC 141.30 (-1.33%)
O N G C 157.90 (-3.19%)
Power Grid Corpn 190.25 (-0.08%)
Reliance Industr 2627.40 (-1.26%)
SBI Life Insuran 1186.00 (1.19%)
Shree Cement 28107.75 (1.19%)
St Bk of India 519.15 (1.29%)
Sun Pharma.Inds. 825.10 (1.43%)
Tata Consumer 818.75 (1.22%)
Tata Motors 497.90 (-2.11%)
Tata Steel 1326.15 (-1.30%)
TCS 3489.75 (0.21%)
Tech Mahindra 1567.85 (0.29%)
Titan Company 2460.10 (0.22%)
UltraTech Cem. 7354.20 (1.17%)
UPL 741.50 (3.96%)
Wipro 671.10 (0.44%)

Closing Bell: Market rebounds from four day losing streak, Sensex surges by 533 points, Nifty ends at 17,693.

Closing Bell: Market rebounds from four day losing streak, Sensex surges by 533 points, Nifty ends at 17,693.
by 5paisa Research Team 04/10/2021

Closing Bell, Market rebounds from four day losing streak, Sensex surges by 533 points, Nifty ends at 17,693 on October 4.

Domestic equity indices snapped the 4-day losing streak on Monday, October 4, 2021. The BSE Sensex closed the day up by 533.7 points or 0.9% to end at 59,299.3, while the broader Nifty50 gained 161.8 points or 0.9% to close at 17,693.9 level.

Most of the sectors witnessed gains led by financial, IT, pharma and automobile which pushed the market higher. Broader markets also supported the gains with BSE midcap and smallcap indices rising around 1.5% each. Except for consumer durables, all the sectoral indices ended in green, with realty, metal and power sectors being the best performers of the day.

Among the highest gainer on Monday, NTPC rose by 4% to settle at Rs 145.50 after the company denied the report that it is planning to raise Rs 15,000 crore from the IPO of its three subsidiaries.

Among the top gainers, today were, Hindalco, Bajaj Finserv, Tata Motors, State Bank of India, Bajaj Finance, Tech Mahindra, Tata Consumer Products, SBI Life and Tata Steel. Top losers include Cipla, Grasim Industries, UPL, Indian Oil, Eicher Motors, Bajaj Auto, Britannia Industries, Hindustan Unilever, HDFC Life and Titan were among the losers.

The overall market breadth in Monday's trading session was positive. 2,331 shares ended higher while 1,016 closed lower on the BSE bourses.

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Top swing trading ideas you should not miss!

Top swing trading ideas you should not miss!
by 5paisa Research Team 04/10/2021

Best Swing Trading ideas based on price and volume percentage surge. Balrampur Chini Mills, Jindal Saw, DCM Shriram.

Price and volume are two of the most prominent inputs used by traders across the world while swing trading. When used in isolation, they reveal very little but when used in conjunction, they help us to sort the wheat from the chaff. So, this swing trading system is based on the deadly combination of price and volume percentage surge, which helps us to discover high probability swing-trading candidates.

So, here is the list of stocks that fulfil the criteria of volume and price surge and as a result, they flash in our swing-trading system:

     

  1. Balrampur Chini Mills: The stock has gained 7% and hit a fresh all-time high on Monday. The stock formed a wide range bull bar as it opened at the lows of the day and closed near its high. The wide range bull bar indicates that the buyers were committed to one direction and more aggressive than the sellers. Moreover, the stock has witnessed a breakout of stage-2 flat base pattern on the weekly chart. What is more striking is the fact that the positive price action was supported by a jump in the volume activity. The volume for the day was greater than the 10 and 30-days average volume and in addition to this, the stock’s daily range was twice its 10-days average range, which resulted in meeting the norms of the swing trading system. In the near term, the stock has the potential to touch levels of Rs 418 and the support is seen around levels of Rs 380. 

  1. Jindal Saw: The stock has soared over 5% on Monday. The stocks' daily range on Monday was almost twice its 10-days average range. In addition to this the volume for the day was greater than its previous trading session and in fact volumes for the day were highest since August 20. Moreover, the volume for the day was greater than the 10 and 30-days average volume. With price and volume criteria met, this stock could see a good move in the coming days, hence, swing traders can keep this on the radar for an up-move towards the level of Rs 125 followed by Rs 131, while immediate support is seen around Rs 114.

  1. DCM Shriram: The stock has registered a double-digit gain on Monday. The daily range of the stock was more than double when compared to its 10-days average range. In addition to this, the stock witnessed a huge jump in volumes as volumes were not only higher than its previous trading session but also the highest since July 20. Besides, it was higher than 10 and 30-days average volume. As the stock has met the criteria of our trading system, swing traders should not miss this stock as it can touch levels of Rs 1220 in the near term followed by Rs 1280 in the medium term. On the downside, support is seen around Rs 1080 levels.

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Chart Busters: Top trading set-ups to watch out for on Tuesday.

Top trading set-ups to watch out for on Tuesday.
by 5paisa Research Team 05/10/2021

The Nifty index has taken support near the 20-day EMA level and on Monday, and formed Morning Star like candlestick pattern, which is a bullish sign. The broader market has also outperformed benchmark indices on Monday. The advance-decline ratio was in the favour of advancers.

Here are the top trading set-ups to watch out for on Tuesday:

Indian Railway Catering and Tourism Corporation: The stock has formed a shooting star candlestick pattern as of September 17, 2021, and thereafter witnessed minor throwback. During the period of the throwback, the stock formed a bullish pennant pattern on the daily chart. The volume increase on the breakout is portraying an encouraging picture. Currently, it is trading above its short and long-term moving averages. Interestingly, these averages are edging higher. The leading indicator, 14-period daily RSI is in the super bullish zone and it has given bullish crossover in bullish trajectory. The trend strength indicator, Average Directional Index (ADX), is above 50, which indicates strength. The +DI is much above the -DI. This structure is indicative of the bullish strength in the stock. The bullish pennant pole height is nearly 1500 points. As per the major rule of the bullish pennant pattern, the zone of Rs 4400-Rs 4420 will act as a resistance for the stock. On the downside, today's low of Rs 3808.40 will act as crucial support for the stock.

Arvind Ltd: After registering the 52-week high, the stock has witnessed correction. The correction is halted near the 100-day EMA level. Since the last 37 trading sessions, the stock is oscillating in a narrow range, which is resulted in the formation of Ascending Triangle pattern on the daily chart. Due to the narrow range, the Bollinger band has been contracted significantly, which is an early sign of the explosive move. On Monday, the stock has given the breakout of Ascending Triangle pattern on daily chart. This breakout was confirmed by the above 50-day average volume. In addition, the stock has formed a sizeable bullish candle on breakout day. The bullish candle formation has come along with a rise in the daily range. The last 10-days average is 3.89 points whereas on Monday’s range was over 9 points. This adds strength to the breakout. The momentum indicators and oscillator are also supporting the overall bullish structure. Hence, we would advise the traders to be with a bullish bias. On the upside, the level of Rs 110, followed by the prior high of Rs 115.55 level, may act as crucial resistance for the stock. While on the downside, the 20-day EMA is likely to act as support for the stock, which is currently placed at Rs 95.85 level.

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SGX Nifty is indicating a pessimistic start. Watch out for 20-DMA, it may offer support to the bulls.

Opening Bell.
by 5paisa Research Team 05/10/2021

Opening Bell: Here’s what you need to know before the market opens on October 05, 2021.

SGX Nifty is indicating a pessimistic start. Watch out for 20-DMA, it may offer support to the bulls.

The early trend from SGX Nifty indicates that the Indian benchmark indices are in for a pessimistic start on the back of weak cues from the global peers. SGX Nifty is trading down by 138 points or 0.78% at 17,572.50 level.

Technically speaking, one needs to watch whether or not, Nifty holds above its important short-term moving average i.e., 20-DMA (17,563.51). If it does, expect the bulls to try to attempt a recovery after an initial bump. On other hand, if it fails to do so, then Nifty is likely to test levels of 17,400-17,440 on lower levels.

Cues from Asian markets: Asian stock markets were seen reeling under selling pressure on Tuesday amid a sharp sell-off witnessed on Wall Street. Japan’s Nikkei 225 has plummeted more than 3% and entered into correction territory as it was down by more than 10% from its September high. Meanwhile, Hong Kong’s Hang Seng was down by 0.74% and was seen trading below its important psychological mark of 24,000.

Overnight cues from US markets: All three major US stocks indices ended the first trading session of the week with substantial losses. Tech-heavy Nasdaq relatively underperformed as it plunged more than 2% amid a sharp sell-off in social media giant Facebook, which slipped nearly 5%. While the S&P 500 lost more than 1% and the Dow dropped 0.94%.

Last session summary: On Monday, Indian benchmark indices snapped their four-day losing streak as broad-based buying helped Sensex and Nifty to registered gains of 0.91% each. Interestingly, broader markets continued to outperform the frontline indices as Nifty Midcap 100 and Smallcap 100 gained 1.57% and 1.58%, respectively.  

Among the sectoral indices, Nifty Metal was the top gainer as it jumped nearly 3% followed by Nifty Media and Nifty Realty which gained 2.6% and 2.17%, respectively. India VIX further cooled off on Monday as it slipped below 17. 

FII’s and DII’s activity on Monday: On Monday, both FIIs and DIIs were net buyers to the tune of Rs 860.50 crore and Rs 228.06 crore, respectively.

Important events to watch out for: Market participants will look forward to the announcement of Markit Composite PMI and Markit Services PMI for September.

 

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Explained: What went wrong at Srei Group firms and why RBI took control of the NBFCs

by 5paisa Research Team 05/10/2021

The Reserve Bank of India (RBI) on Monday superseded the boards of directors of Srei Infrastructure Finance Ltd and Srei Equipment Finance Ltd, both non-bank lenders promoted by businessman Hemant Kanoria and his family.

The RBI’s actions came after the non-banking finance companies defaulted on their debts and failed to attract external funding. Moreover, lenders to the two companies had refused to give any moratorium on their loans.

What led the RBI to take such an extreme step against Srei Group?

The RBI said it was superseding the boards due to governance issues and loan defaults by the Srei Group companies. The Srei companies reportedly owe Rs 35,000 crore to their creditors.

The development comes a week after creditors to the Srei Group companies rejected the top management’s proposal to grant the companies a one-year standstill from any action – legal or otherwise – to recover dues.

On October 1, Moneycontrol had reported that the lenders had adjusted Rs 3,000 crore from Srei Equipment’s cash flow against the loan dues in the last 10 months and drew money from the trust and retention account.

Talks for debt realignment were still on and lenders were waiting for a forensic audit to take a call on realignment, the report said.  

So, what has the RBI really done?

The RBI has appointed Rajneesh Sharma, a former chief general manager of Bank of Baroda, as the administrator to take over the boards of directors of the two Srei companies.

Moreover, the central bank said it will soon begin the process of resolution of the two NBFCs under the country’s insolvency and bankruptcy regulations and ask the National Company Law Tribunal to make the administrator the insolvency resolution professional.

How did things come to such a pass?

Things have reportedly been brewing at Srei for a while now.

Moneycontrol reports that the group had seen senior-level exits in the last six months, including of Srei Infrastructure Finance CEO Rakesh Bhutoria, as the lenders had imposed salary caps.

Sandeep Kumar Lakhotia resigned as company secretary and compliance officer of Srei Infrastructure on March 20. Pavan Trivedi, Srei Equipment’s chief operating officer, had also stepped down a month later.

A Business Standard report said, citing the head of corporate banking at a private bank, that the implosion of IL&FS in 2018 led to a liquidity crisis for NBFCs, including Srei. “This hit business growth. In addition, problems in the infrastructure sector – road and power – led to stress on the books for Srei on delays in payments by clients,” it said.

Srei had been moving away from infrastructure financing in the last four-five years. Disbursements by the equipment finance wing were also lower. This was in line with the management’s strategy to slow down disbursements in its books and focus on the co-lending model, the report said. A planned initial public offering (IPO) for Srei Equipment was also shelved after IL&FS crisis.

Instead, in July 2019, the board of Srei Infra decided to transfer its lending business, interest earning business and the lease business together with associated employees, assets and liabilities to Srei Equipment.

“Then, the business got impacted in March and April of 2020 due to Covid-19 and what was a problem quickly turned into a crisis. This is because infrastructure projects came to a halt and projects of borrowers were stuck,” the Business Standard report said.

But didn’t the RBI do anything to bail lenders out during the Covid-19 crisis?

It did. To provide respite from debt-servicing during the pandemic, the RBI directed all lending institutions to offer a nine-month moratorium and recast debts of micro, small and medium enterprises (MSMEs) and infrastructure companies. But that apparently “led to cash flow shortages for Srei as no respite was provided to NBFCs,” Business Standard said.

Thereafter, a series of events followed. Srei moved the National Company Law Tribunal with a scheme that proposed to pay full dues to all creditors in a structured manner. Some creditors accepted it, while others, including bankers, did not.

Media reports say that, after the scheme was filed, banks took control of the company’s cash flows and then capped salaries of Srei executives. Then, the RBI conducted an audit and flagged more than Rs 8,000 crore of probable related-party lending by the Srei group.

What did Srei want to do to resolve the crisis?

Srei was in talks with private equity players for raising equity capital. Srei Equipment Finance had received expressions of interest from 11 global investors, and subsequently, received non-binding term sheets from Arena Investors LP and Makara Capital Partners.

But this was before the RBI’s move to take control of the two companies. It is unclear how such proposals will move forward now.

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5 Stocks to Buy Today: October 5, 2021

5 Stocks to Buy Today: October 5, 2021
by 5paisa Research Team 05/10/2021

Every morning our analysts scan through the markets universe and chose the best momentum stocks to buy today. The stocks are recommended from a wider list of momentum stocks and only the best ones make it to the top 5 list. We also update on the performance of earlier recommendation every morning to help you with your trading journey. Read on to know the momentum stocks to buy today. The average holding period could be between 7-10 days on average.

List of 5 Stocks to Buy Today October 5

1. Gujrat Narmada (GNFC)

GNFC Stock Details for Today

- Current Market Price: Rs.449

- Stop Loss: Rs. 438

- Target 1: Rs. 461

- Target 2: Rs. 475

- Holding Period: One week

5paisa Recommendation: Our technical experts see end in sideways move of the stock hence making this stock best stock to buy.

 

2. GSFC (GSFC)

GSFC Stock Details for Today: 

- Current Market Price: Rs. 134

- Stop Loss: Rs. 131

- Target 1: Rs. 137

- Target 2: Rs. 142

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects further buying in the stock and recommends buying this stock.

 

3. Aarti Industries Limited (AARTIIND)

KEI Industries Stock Details for Today: 

- Current Market Price: Rs. 1,021

- Stop Loss: Rs. 995

- Target 1: Rs.1,060

- Target 2: Rs. 1,095

- Holding Period: 1 week

5paisa Recommendation: Positive momentum in stock is expected and thus making this stock as one of the best stocks to buy today.

 

4. Deepak Nitrate (DEEPAKNTR)

Deepak Nitrate Stock Details for Today: 

- Current Market Price: Rs. 2,592

- Stop Loss: Rs. 2,530

- Target 1: Rs. 2,680

- Target 2: Rs. 2,765

- Holding Period: 1 week

5paisa Recommendation: Positive momentum in stock is expected and thus making this stock as one of the best stocks to buy today.

 

5. Indian Railway (IRCTC)

IRCTC Stock Details for Today: 

- Current Market Price: Rs. 4,009

- Stop Loss: Rs. 3,900

- Target 1: Rs. 4,120

- Target 1: Rs. 4,246

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see strong volume in this stock hence making this stock best stock to buy.

 

Share Market Today

SGX NIFTY: 

SGX Nifty indicates negative opening for Indian markets. SGX Nifty is at 17,593.50 levels, lower 121.50 points. (Updated at 7:50 AM).

International Markets:

US Market: US markets start the week on a weak note as stocks sell-off with global cues turning bearish.

The near-term default of ‘Evergrande' saw Hong Kong shares index close lower by 14% YTD, which saw a ripple effect in US indices with inflation scare coupled with early tapering sending Dow Jones lower by nearly 400 points while Nasdaq closed 6% off from recent highs.

Asian Market: Asian markets opened weak with the Japanese 'Nikkei' trading lower by 850 points in early trade even as Chinese markets remain closed this week for holidays.

South Korean 'Kospi' index re-opened after Monday's holiday and saw selling pressure trading lower by over 2%. The sharp run-up in equities will see further profit booking as higher yields in near term will see money exit stocks and re-enter bonds.
 

Disclaimer: The above report is compiled from information available on the public platforms.