Stock market report 5 august
On Wednesday, 5th August, the Indian Stock Exchange was quite volatile but eventually, it was managed by the bulls when they pushed the back to green close above 11,100 levels but Sense eventually ended up marginally in the red. The S & P BSE Sensex fell 24 points to 37,663 while the Nifty50 rose 6 points to close at 11,101.
Profit booking at higher levels, uncertainty regarding MPC decision on Thursday capped the upside for markets.
When it comes to talking about sector-wise performance, the action was seen in metals, auto, consumer discretionary, consumer durables, and telecom while selling pressure was seen in energy, power, FMCG, IT, and healthcare stocks.
While talking about the broader market front, outperforming the benchmark indices, the S&P BSE Mid-cap index rose 0.39 percent, and the S&P BSE Small-cap index rose 0.8 percent.
A volume spike of more than 100% could be seen in stocks like ITC, Sun TV, Hindalco, Bata India, and NALCO, etc. among others.
Stocks like MFSL, SAIL, and Hindalco showed long buildup. Whereas stocks like ITC, Muthoot Finance, and Shriram Transport showed short buildup.
More than 100 stocks on the BSE hit a fresh 52-week high that includes names like Info Edge, Torrent Pharma, L&T Infotech, and PI Industries.
Stocks of the day
Improved China data helped metal stocks gain; Hindalco, Tata Steel were among top Nifty gainers
Autos continue to move higher on-demand recovery; Tata Motors, Eicher were up 4-5% respectively.
Info Edge hits record high after the company launched Rs 1,875 crore QIP
SAIL moves 6% higher after reporting improved volumes in July on a YoY basis
Sun Pharma Advanced Research Company stock price jumped 7 percent after the company reported net profit in Q1 FY21 at Rs 56.69 crore as against a loss of Rs 94.19 crore in the year-ago quarter.
Bank Nifty managed to hold on to its crucial support of 21,000-20,950 and marked a critical recovery, although the short-term trend still continues to be weak. Nonetheless, as long as 21,000 is held, there might be some consolidation if not sustained buying. In the near term, 21,800-22,000 will continue to be the immediate area of supply, which is also visible looking at this week's expiry option data. We would advise buying Bank Nifty on some dips towards 21,300 for targets of 21,750-21,800. Also, any fresh short trade should only be initiated once 21,000 is broken on the downside.
Gold prices in India continued their record-breaking rally this week with rates piercing through the ₹51,000 barriers. On MCX, August gold futures settled 0.6% higher on Friday at ₹51,010 per 10 gram after hitting a new high of ₹51,184 earlier in the session, tracking a rally in global markets. Silver futures on MCX edged higher to finish at ₹61,221 a kg. On a weekly basis, gold rose by about 4% while silver surged about 15%.