Market Watch: Markets That Trade With A Positive Bias

Market Watch: Markets that trade with a positive bias

By Arun Kejriwal Markets behaved during the week gone by on expected lines.The week went by as expected.Markets performed on the expected lines.It was volatile and choppy and we saw gains on Monday and Friday.It was volatile and turbulent, and we saw gains Monday and Friday.The remaining three days in between were days of correction with a mini sell-off on Thursday.

 Market Watch: Markets That Trade With A Positive Bias-TeluguStop.com

The three days between were days of correction, with a small sell-off on Thursday.At the end of the week, BSESENSEX gained 619.07 points or 1.03 per cent to close at 60,686.69 points, while NIFTY gained 185.95 points or 1.04 per cent to close at 18,102.75 points.BSESENSEX closed at 60,686.69 with a gain of 619.07 points (or 1.03%), while NIFTY was up 185.95 points (or 1.04%) to close at 18,102.75.75 points.The broader indices like the BSE100, BSE200 and BSE500 saw them gain 1.26 per cent, 1.32 per cent and 1.33 per cent respectively.BSE100, BSE200, and BSE500 indices saw their broadening indices gain 1.26 percent, 1.32 percent, and 1.33 percent, respectively.BSEMIDCAP gained 1.45 per cent and BSESMALLCAP gained 1.15 per cent, respectively.BSEMIDCAP gained 1.45%, while BSESMALLCAP gained 1.15 percent.

The Indian Rupee was fairly range bound and gained 2 paisa or 0.03 per cent to close at Rs 74.44 to the US Dollar.The Indian Rupee was relatively range bound.It gained 2 paisa, or 0.03 percent, to close at Rs.74.44 against the US Dollar.Dow Jones opened with a bang and made new lifetime highs on an intra-day basis and closing basis on Monday and then slipped to close with losses of 227.64 points or 0.63 per cent at 36,100.31 points.Dow Jones opened strongly and reached new lifetime highs on both an intra-day and closing basis.Then, it lost 227.64 points (or 0.63%) at 36.100.31 points.The intra-day high was 36,566 points while the closing high was 36,432.22 points.The intraday high was 36.566 points, while the closing high reached 36.432.22 points.

In news during the week, the RBI and the government held discussions about crypto currency and have decided to bring legislation about it in the coming Winter session of parliament.The news this week was that the RBI and government had discussions on crypto currency.

They have now decided to introduce legislation in the Winter session.

The microfinance sector was in the news with two listed entities in the forefront.

Two listed microfinance companies were in the news.The first was the scathing letter written by the recently resigned Managing Director of Spandana Sphoorty Limited, Padmaja Gangireddy against the alleged wrong doings in the company by the largest shareholder who is a Private Equity Investor.

First, Padmaja Gangireddy, the recently resigned Managing director of Spandana Sphoorty Limited wrote a scathing note against the alleged wrongdoings in the company by a Private Equity Investor.This letter has been widely circulated and has found its way to the RBI as well.

The letter was widely circulated and made it to the RBI.The second bank in the news was the subsidiary of Indus Ind Bank, Bharat Inclusion where a whistle blower complaint has been doing the rounds about evergreening of accounts.Bharat Inclusion, a subsidiary of Indus Ind bank, was the second bank to be featured in the news.This is where a whistleblower complaint about the evergreening accounts has been making the rounds.Shares of Indus Ind bank have fallen by Rs 152 or 12.74 per cent during the week to Rs 1,189.Indus Ind Bank shares have dropped by Rs 152, or 12.74 percent, during the week to Rs 1189.Spandana Sphoorty shares were also under pressure.Spandana Sphoorty shares also fell during the week.

What makes the plot interesting, is the fact that Spandana is to appoint a new Managing Director and CEO post the resignation, and the person being talked about is the person who is named in the whistle blower complaint.The interesting part of the story is that Spandana will appoint a new CEO and Managing Director after the resignation.

This person is also named in the whistle-blower complaint.The matter is becoming interesting and will be keenly watched.

This is a fascinating matter that will be closely watched.

In primary markets, there were three issues which were open for subscription and closed during the week.

There were three issues that were available for subscription in primary markets.They were also closed during the week.

Further, two issues listed during the week as well.Two issues were also listed in the week.

In the week ahead there would be two issues opening for subscription, and Monday would see three issues list on the bourses followed by Paytm listing on Thursday.Two issues will be available for subscription in the coming week.

Monday will see three issues listed on the bourses, followed by Paytm listing.

The issue from Paytm which is India’s largest fundraiser ever with an issue size of Rs 18,300 cr received a tepid response and was subscribed 1.95 times.Paytm’s biggest issue ever, a Rs 18,300 crore issue, received a low response.It was also subscribed 1.95x.The QIB portion was subscribed 2.88 times, HNI portion remained undersubscribed at a mere 0.25 times and Retail was subscribed 1.72 times.QIB was subscribed 2.88x, HNI was undersubscribed at 0.25x, and Retail was subscribed 1.72x.There were 14.40 lakh applications and this number is disappointing as the retail portion has seen applications in the 35-39 lakh number in recent issues which have done well.This is disappointing, as retail has received applications in the 35-39kilo range in recent issues that have performed well.

The issue from Sapphire Foods Limited was subscribed 6.45 times overall with QIB portion subscribed 7.5 times, HNI portion subscribed 3.46 times, Retail portion was subscribed 7.76 times.Sapphire Foods Limited’s issue was subscribed 6.45x overall.QIB was subscribed 7.5x, HNI was subscribed 3.46x, and retail was subscribed 7.76x.There were 9.87 lac applications in all.All in, 9.87 lac applications were received.The issue received response which was lower than expectations considering that in August when a similar issue from Devyani International was subscribed 116 times.This issue received less response than expected considering that Devyani International’s August issue was subscribed 116 time.

Incidentally both Sapphire Foods and Devyani International are franchisees for Yum Foods who sell KFC and Pizza Hut.Devyani International and Sapphire Foods are both franchisees of Yum Foods, which sells KFC and Pizza Hut.

The final issue was from Latent View Analytics Limited which was subscribed 338.51 times and created a new record for being the highest subscribed issue.Latent View Analytics Limited subscribed 338.51 Times to the final issue, setting a new record as the most subscribed issue.The company which had tapped the capital markets with its issue to raise Rs 600 cr raised Rs 1.13 lakh crs.With its issue to raise Rs 600 crore, the company tapped capital markets and raised Rs 1.13 million crs.The QIB portion was subscribed 150.8 times, HNI portion was subscribed 881.96 times and Retail portion was subscribed 123.83 times and Employee portion was subscribed 4.03 times.QIB was subscribed 150.8x, HNI was subscribed 881.96x, Retail was subscribed 123.83x, and Employee was subscribed 4.03x.There were 37.61 lakh applications and on basis of lots the retail portion was subscribed 94.91 times.The total number of applications was 37.61 million.On the basis of lot, the retail section was subscribed 94.91.

The first issue to list was from FSN E-commerce Ventures Limited, the owners of the brand Nykaa.FSN E-commerce Ventures Limited was the first to list the issue.They are the owners of Nykaa.

The company had a blockbuster listing with shares gaining over 96 per cent on day one.The company was a huge success with shares rising by more than 96% on the first day.Shares which were issued at Rs 1,125 closed day one at Rs 2,206.70, a gain of Rs 1,081.70 or 96.15 per cent.Closed day one shares were sold at Rs 1,125 at Rs 2,206.70.This represented a gain in Rs 1,081.70 and 96.15 percent.

The second issue to list was Fino Payments Bank Limited which closed day one with losses of Rs 31.75 or 5.50 per cent at Rs 545.25.Fino Payments Bank Limited was the second issue.It closed day one with losses at Rs 31.75 and Rs 5.50 percent at Rs 545.25.The issue price was Rs 577.The issue price was Rs 577.

The week ahead would see three listings on Monday the 15th of November.Three listings will be made on Monday, the 15th November.

They are PB Fintech, SJS Enterprises and Sigachi Industries Limited.These are PB Fintech Limited, SJS Enterprises Limited and Sigachi Industries Limited.

Shares of Paytm the brand which is owned by One 97 Communications Limited would list on Thursday the 18th of November.One 97 Communications Limited will list shares of Paytm, the brand that is owned by Sigachi Industries Limited on Thursday 18 November.

There is no buzz about this issue and fortunately or unfortunately there is no grey market buzz as well.This issue is not in the news and there is also no grey market buzz.

There are no leveraged HNI’s who have applied for the issue.The issue has not been applied for by leveraged HNI’s.

Without support from QIB’s this issue could be a sitting duck for disaster on listing day.This issue could become a disaster if it is not supported by QIB’s.What could be done to save the day for the company is that collectively QIB’s buy for delivery a minimum of 2 cr shares on listing day, as per market sources.The company could save itself if QIB’s collectively buy for delivery at least 2 cr shares on the listing day.Market sources suggest this.

The first issue opening for subscription in the coming week is from Tarsons Limited which is tapping the markets with its fresh issue for Rs 150 cr and an offer for sale of 1.32 cr shares in a price band of Rs 635-662.Tarsons Limited is the first issue to open for subscription over the next week.It has a fresh issue for Rs 150 crore and a sale of 1.32 Cr shares at a price range of Rs 635-662.The EPS for the year ended March 2021 was Rs 13.43 and the PE multiple is a steep 47.28-49.29 times its March 2021 earnings.The March 2021 EPS was Rs 13.43, and the PE multiple is steep at 47.28-49.29.29 times the March 2021 earnings.The company is in the business of manufacturing and supplying plastic labware used by diagnostic companies, pharma companies and research institutions.

The company manufactures and supplies plastic labware for diagnostic and pharmaceutical companies as well as research institutions.A good comparable for the company in the listed space is Poly Medicure Limited.

Poly Medicure Limited is a good competitor for the company in this space.The current market mood would ensure that the issue is well received but the proof of the pudding would be post-listing and its subsequent sustainability of prices.

Although the current market mood will ensure that the issue is well-received, the proof would be post-listing.Then again, the price sustainability would also prove to be an important factor.

The week ahead has an extended weekend with Friday being a holiday.The week ahead will have a long weekend, Friday being a holiday.

Markets saw reasonably sharp gains on Monday followed by correction and some sort of a sell-off on Thursday before rebounding on Friday.The markets saw sharp gains Monday, followed by a correction and some kind of a selloff on Thursday.Friday’s rebound was a surprise.Dow Jones, though negative for the week, saw markets gaining on Friday.

Markets gained on Friday, despite a negative Dow Jones reading for the week.Markets in the coming week would see volatility and two-sided movements.

The markets in the next week will see volatility and two-sided moves.Use sharp dips to buy large cap stocks and rallies to sell.

Sharp dips are a good way to buy large-cap stocks, and rallies to put your money down.While an immediate short-term bottom may have been made, we have quite a few resistances at close levels which could cause sharp corrections as well.

Although we may have reached an immediate bottom, there are still a lot of resistances at close levels that could lead to sharp corrections.Spate of new issues and their listing would impact market sentiments.

Market sentiments could be affected by the listing of new issues or the emergence of new ones.Finally, FPI’s net selling if it continues could affect markets.

Market sentiments could be affected by FPI’s net sales if they continue.

arun/ksk/

#Watch #trade #bias #StockExchange #SenSex #Nifty #India #Economy

Disclaimer : TeluguStop.com Editorial Team not involved in creation of this article & holds no responsibility for its content..This Article is Provided by IANS, Please contact IANS if any issues in Article .


Follow Us on FacebookFollow Us on WhatsAppFollow Us on Twitter