SGX Nifty Indicates Muted Opening; Indian Oil and Indiabulls Housing Finance to Announce Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,063, compared with Nifty’s close of 15,108, yesterday. rnMarket Pulse: Confirmed UptrendrnDistribution Day Count: Threern rnGlobal stock markets: Dow30, -0.8%; S&P 500, -0.9%; Nasdaq, -0.6%; Kospi, +1.2%; Nikkei, -1.2%; Shanghai Composite, -0.5% rnYesterday, Nifty opened with a gap-up of more than 140 points, taking strong global cues. It held the opening gain throughout the day and traded in a narrow range near the day’s high of 15,137. Volume was higher than the previous session. Broader market indices showed solid outperformance. Nifty Midcap closed 1.8% higher and Smallcap advanced 1.6%. rnOn the sectoral front, mixed reactions were observed. Nifty Auto (+3.2%) led the gains followed by Nifty Media and Nifty Metal, which advanced 1.7% each. On the flip side, Nifty PSU (-1.3%) was the major decliner, while Nifty FMCG and Nifty Pharma declined 0.2% each. The advance-decline ratio was in favor of advancers. Of the 2,259 stocks traded, 1,204 advanced, 710 declined, and the rest remained unchanged. rnOn a technical perspective, Nifty retook its 50-DMA, which is a good sign. Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Continue to trim or avoid ideas lagging and/or breaking down below major moving averages. rnKey Results Today: Indian Oil, Indiabulls Housing Fin, Tci Express, Heritage Foods, J K Tyre & Inds, and others. rnKey News: rnTata Motors reported its Q4 FY21 results. Consolidated revenue was up 41.8% y/y to Rs 88,627 crore. It reported a lesser loss of Rs 7,605 crore compared with a loss of Rs 9,894 crore in Q4 FY20. rnTorrent Pharmaceuticals reported its Q4 FY21 results. Revenue decreased a meager Rs 9 crore y/y to Rs 1,937 crore. PAT increased 3.2% to Rs 324 crore. rnBrigade Enterprises (Nse) reported its Q4 FY21 results. Revenue grew 24.6% y/y to Rs 791 crore. It reported a profit of Rs 39 crore against Rs 2.7 crore profit in Q4 FY20. rnBuy Watchlist: Blue Dart Express, Dhanuka Agritech, Ramkrishna Forgings, Pi Industries, Relaxo Footwears, Gujarat State Petronet, Apollo Hosps.Enterprise, Asian Paints, and Apollo Tricoat Tubes Related Articles: Is Carborundum Universal Still A Good Buy? Watch Out for Jsw Holdings As Its Marches Towards Its 52-week High Rain Industries: Breaks Out From A 7-week Cup with Handle Pattern. For more details Please visit: SGX Nifty Indicates Muted Opening; Indian Oil and Indiabulls Housing Finance to Announce Results Today Stock Market Research https://marketsmithindia.comrn