ITC Q4 Bottom Line Misses Consensus; Muthoot Finance and PVR to Report Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,617, compared with Nifty’s close of 15,575 yesterday.

Market Pulse: Confirmed Uptrend
Distribution Day Count: Three

Global stock markets: Dow30, +0.1; S&P 500, -0.1%; Nasdaq, -0.1%; Kospi, +0.1%; Nikkei, +0.5%; Shanghai Composite, -0.4%

After gapping up on open yesterday, Nifty hit the day’s high of 15,661 in the first hour of the session. In the next two hours, it pared opening gains and traded closer to the day’s low of 15,528. The index remained volatile in the second half and closed flat. Yesterday, volume was on the lower side. Broader market indices continued to underperform the major index. Midcap was down 0.10%, while Smallcap closed 0.70% lower. On the sectoral front, the majority of indices closed in the red. Nifty Pvt Bank (-0.9%) and Metal (-0.8%) were the top decliners. On the flip side, Nifty IT (+0.1%) and Nifty Pharma (+0.04%) managed to close in the green.

Last week, Nifty hit an all-time high and is currently trading 3.8% and 5.3% above its 21- and 50-DMA, respectively. We would like the index to hold its 21-DMA and/or 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 RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key Results Today: Muthoot Finance , Pvr , Ratnamani Metals & Tubes , and others.

Key News:

Itc reported its Q4 FY21 results. Revenue was up 22.6% y/y to Rs 13,294.7 crore. PAT moderated 1.3% y/y to Rs 3,784.7 crore. EBITDA grew 7.4% y/y to Rs 4,473 crore. The company’s bottom line missed consensus.

Gujarat Gas reported its Q4 FY21 results. Revenue was up 28.2% y/y to Rs 3,489.3 crore.PAT witnessed double digit growth of 40.1% y/y to Rs 350.9 crore. EBITDA grew 29.9% y/y to Rs 554.2 crore.

Balrampur Chini Mls Nse reported its Q4 FY21 results. Revenue was down 41.4% y/y to Rs 1,019.4 crore. PAT moderated 2.5% y/y to Rs 235.5 crore.

Buy Watchlist: Avanti feeds , Bajaj Finance , Sbi Cards And Payment Services , Ion Exchange India, Page Industries , Action Construction Equ., State Bank Of India, Ambuja Cements, Eveready Inds.(India), Varun Beverages, Colgate-Palmolive India, Sharda Cropchem, Astral, I G Petrochemicals, Berger Paints India, Icici Bank, Ramkrishna Forgings, Gujarat State Petronet, Apollo Hosps.Enterprise, and Apollo Tricoat Tubes

Sell Watchlist : Advanced Enzyme Techs