Yesterday, Nifty opened the session over 50 points higher and stayed in positive territory throughout the session with little intraday swings. Being a weekly expiry, volatility was on the lower side versus a normal expiry session. Volume was lower than in the previous session. Starting May 28, volume has been below the 50-day average. Barring Nifty Auto (-0.1%), all sectoral indices closed in the green. Nifty Media (+4.6%) advanced the most, followed by Realty (+3.3%) and financial-related sectors. FIIs were net buyers at Rs 1,329 crore, while DIIs were net sellers at Rs 575 crore.
On Wednesday, Nifty registered a distribution day for the first time since May 11. 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.
Nhpc will raise debt up to Rs 4,300 crore through issuance of corporate bonds and term loans. Q4 FY21 revenue was down 12% y/y to Rs 2,091 crore. PAT grew Rs 171% to Rs 427 crore.
The U.S. May inflation came higher than expected. Core CPI rose 0.7% m/m, above estimates of 0.5%.
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