BPCL Q4 Bottomline Beats Consensus; Dixon Technologies and Sun Pharma to Report Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,342, compared with Nifty close of 15,302 yesterday.

Market Pulse: Confirmed Uptrend
Distribution Day Count: Three

Global stock markets: Dow30, +0.03%; S&P 500, +0.2%; Nasdaq, +0.6%; Kospi, -0.7%; Nikkei, -0.7%; Shanghai Composite, +0.1%

Yesterday, Nifty gapped higher but remained volatile in the opening hour. It gradually moved higher as the day progressed and closed above 15,300. Volume was comparatively low. Nifty is now less than 1% below its all-time high. Sensex also crossed the 51,000 mark and closed above that. Broader market indices underperformed benchmark indices. Barring Nifty Metal (-1.8%) and PSU Bank (-0.3%), all other sectoral indices closed in the green. Nifty Realty closed 2.8% higher. After many days of muted action, Nifty IT (1.8%) led the gains today. Nifty Auto, FMCG, Pharma, and Financial Service closed 0.1–0.5% higher. Nifty is trading 3% and 3.8% above its 21- and 50-DMA, respectively.

Last week, Nifty retook its 50-DMA, did not add a distribution day, and registered an additional follow-through day, which are positive signs. We would like the index to hold its 50-DMA and trade above that. 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. Focus on quality ideas emerging out of sound bases with relative strength line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key Results Today: Dixon Technologies (India) , Sun Pharm.Industries , Cadila Healthcare, Alkyl Amines Chemicals, and others.

Key News:
Bharat Petroleum reported its Q4 FY21 results. Revenue was up 15.2% q/q to Rs 76,882 crore. Margins improved to 6.6%. PAT surged almost 4x to Rs 11,940.1 crore. Bottomline beats consensus.

Tata Consultancy Svs made a partnership with LACChain to develop a blockchain ecosystem in Latin America and the Caribbean.

Cummins India (Nse) reported its Q4 FY21 results. Revenue was up 18.2% y/y to Rs 1,256.25 crore. PAT stood almost flat at Rs 168.6 crore.

Stocks on the move on 26.05.2021
Up in price:

Down in price

Buy Watchlist: Action Construction Equ., State Bank Of India, Ambuja Cements, Eveready Inds.(India), Varun Beverages, Colgate-PalmoliveA India, Sharda Cropchem, Astral, I G Petrochemicals, Berger Paints India, Icici Bank, Ramkrishna Forgings, Gujarat State Petronet, Apollo Hosps.Enterprise, and Apollo Tricoat Tubes