Market Ends In Green; Nifty Above 22,300; India VIX Down 19%; Vodafone Idea & Tata Consumer In Focus
watching last streck here on news9 where
we bring to you the lowdown of the day’s
action on the L Street and Indian
markets the recovery continues as Nifty
ended above 2 to 350 levels on Tuesday
extending its winning run to three
sessions now the 50 share index has now
recovered close to 600 points in this
runup I mean Nifty today opened Gap up
just below the
22450 mark but uh lack of follow on
buying meant uh you know we couldn’t
rise any further from there on
ultimately
what it was it was a range bound session
but one that ended with modest gains but
there are a couple of things that you
need to look out for one the Bulls are
showing signs of exhaustion as
incremental gains on a day onday basis
those are hard to are you know getting
hard to come by because remember on
Friday we saw near 400 Point Rally from
the day’s low on Monday the upside was
uh you know much smaller about 190
points but today it was just 30 points
so you know perhaps incremental gains
those are you know getting hard to come
by now so keep an eye out on that second
is that we fail to close above 22,400
level now this is key because it pretty
much coincides with the
61.8% retracement level of the entire 1,
Point drop from the record high of 22775
to the April low of
21777 to be exact the 61.8 works out at
around 22394 but for all practical
purposes it’s 22400 that needs to be
taken out next all that said you know
Nifty still managed to close above the
20 dma and in fact at no point uh you
know it fell below the 20 dma uh so that
perhaps should keep the bull in play
going forward but the biggest concern at
least for me was the drop in volatility
and not as much as the drop per se but
the implications of it India vixs
dropped almost 18% this was a sharpest
single day drop dropped since May 19th
uh sorry since May 2019 now the
volatility index has now fallen to its
lowest levels in the past 9 months and
with Nifty nearing its resistance Zone
the big 122500 odd levels vix cooling
off towards 10 or potentially lower may
not be a good sign for the near- term
this is because a drop in volatility
when the markets are uh you know near
resistance level could suggest that a
correction uh maybe in the offing uh you
know in theory it could also indicate a
potential breakout on the upside but
either way a big move could be in the
offing and I mean look at it as a calm
before the strong of course the big
question will be which way will the tide
flow for that I think 20 to 500 odd
levels is the key again because uh you
know remember this was a Zone where we
had reverse scores multiple times in the
past and uh you know once it was
captured and captured with conviction uh
you know the markets went on to another
250 OD points from there on to the
previous record high which again was
22775 but looking at the overall texture
of the markets now in conjunction with a
strong recovery the bias certainly is on
the upside but you know let’s not forget
that we have enough and more reasons to
worry about in the next two months both
on domestic as well as the global front
among Global headwinds the biggest one
of course to track will be what happens
next in the Israel Iran conflict so far
no news of escalation is being looked at
as news of deescalation but since the
situation still over there I mean
remains uncertain uh it’s very prudent
that we keep a track of that also the
bond yields in the US the inflation
trajectory especially considering the
recent surge in crude oil prices that
could uh you know have negative
implications for uh the Emerging Markets
like India but and uh you know apart
from the global headwinds back home the
focus will of course be on individual
stocks as we are in the midst of the
fourth quarter earning season also
polling for the general elections have
also begun so expect volatility over the
next couple of months then there is the
full budget that will come out in July
and the markets are also keeping an eye
out on the monsoon trajectory so all
these factors will likely to you know is
more than likely to keep the market on
the edge in the near term but joining us
in the studio now is Mr crti batini of
wealth mil Securities sir thank you for
giving us time here on news9 and I want
to begin by asking about this big big
massive 19% drop uh you know we saw in
India vix how are you reading this yes
as you perfectly explained about the vix
and its implications what we can sense
is some kind of at the higher end of the
market what we can sense is uh Traders
are not initiating uh long positions
they’re unwinding their positions and uh
everybody are in a white wait and watch
mode at this point of time so that’s the
primary reason for the weeks to coming
to the range of 10 uh that’s what
creating is at the higher end uh in the
large caps people are not initiating uh
in the both in the derivative Market as
well as in the cash Market also they’re
not going initiating the positions but
by and large right now the action is
more and in mid and small cap and there
is a stock specific action what we are
seeing of course you rightly mentioned
that uh these are the resistance zones
going ahead Market looks on the higher
end of the market market looks adjusted
uh and also it’s not able to get any
kind of strong positive triggers at this
point of time that’s what the key cause
of worry at this point of time all right
and you know there are also multiple
Global factors that are in the play the
situation you know what happens next as
far as Israel and Iran is concerned the
bond deals in the US although they have
been pretty much flat on a day onday
basis for the last couple of sessions at
4.6 it’s still elevated crude price
sizes they have come down from $90 a
barrel but still you know in that
uncomfortable zone for us how big of a
factor do you think would that
be yeah the uncertainty is still there
but what we can sense last couple of
days and last week is despite of uh the
geopolitical issues that erupted they
have not created any kind of uh
disruption with respect to the supply
chain of the crud is concerned of course
we have uh came across the news that uh
uh there are reciprocal attack by Israel
on on Iran but the news is even though
uh there are no signs of any kind of
supply chain disruptions with respect to
the crude oil um Supply chains are
concerned that’s where the market is a
little bit taking the Breather and uh
that’s where we can see some kind of
consolidation with respect to the crude
oil price right now as you rightly
mentioned there is no escalation or
escalation at this point of time we need
to wait and watch closely observe the MS
how things are going to unfold in the
next couple of weeks that is extremely
crucial the movement of crude oil price
is extremely important given the kind of
volatile nature it’s exhibiting in the
last couple of weeks and also uh the
impact especially on of the crude oil
price on Indian economy is extremely
crucial going ahead with respect to the
rate cut and also the policy action is
concerned in India
you know move on to local factors one
another thing that I wanted to pick your
brains on is you know the commentary
that has been coming out from the
Federal Reserve I mean we have seen a
full swing pretty much in the last one
month it started with the last policy
decision when Mr Powell uh stepped up
and said that we might see three rate
Cuts this year from there on other
voting members have said that maybe hold
on you know perhaps inflation Still
Remains a problem maybe we won’t see a
rate cut this year at all but now uh you
know New York fed uh president couple of
days back he came out he’s also a voting
member he said that maybe we need to
look at uh you know increasing the
interest rates what are you making of
you know this sudden shift in stance of
the
federal the US fed uh what’s what’s your
sense of things over there
sir yeah suash these are the
commentaries that keep comes if You
observe the long-term track record of
federal reserve one thing is they said
in the beginning po has told couple of
quarters the inflation is transitory
nothing to worry and the next two
quarters they said in it is very sticky
and last quarter they have been telling
we are uh made all the effort now it’s
yielding uh the effort has been yielding
right now uh ready for a rate cuts and
they have given some kind of guidance
also but they’re still telling is what
the version of Federal Reserve at this
point of time time is just hold
on and and you the entire markets have
been waiting for a rate Cuts but wait on
wait on we might go for uh red hikes
also but suash if that kind of scenario
is coming that’s going to definitely
disrup the party uh Equity party that’s
taking place across the globe so we need
to wait and watch closely uh how the FED
action is going to be all right and
interesting to see I mean uh we were
just joking around it’s time to perhaps
rename FC as Federal Reserve open mouth
committee because of the kind of
comments and the wild you know swings in
you know the stands that we have
witnessed in the last uh couple of
months but so uh stay with us we have
much more to discuss with you but it’s
time to slip into a short break
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vouchers welcome back you’re watching
last week here on news9 and crant I’ll
come to you directly because we have got
lots to discuss with you uh one uh you
know domestic factor that I was tracking
was Von’s Foo which by the way was the
largest Foo in India and this was a big
hit I mean especially uh you know from
the institutional side of things I mean
this quota set aside for QBs the
qualified institutional buyers was
subscribed over 19 times crany how are
you reading this I mean is it because
the fpo price at 10 to1 was perhaps
cheap and attractive uh or is it that
you know they are betting big on the
turnaround because you know the a lot of
this money 70% of it is going towards
capex yeah so as you rightly mentioned
they’re U uh betting for a complete
turnaround with respect to the vone
prospects are concerned because of the
given the kind of macro Dynamics the
Indian economy have uh so vone is going
to have a sustainability so uh that is
the reason we can see a whole host of uh
QBs have been U placed with respect to
vone FP is concerned it received a very
good robust response from the uh
institutional investors so one thing is
next couple of quarters how the plans
are going to be the roll out of 5G and
also how they are going to uh improve
the client base subscriber base and also
the Improvement of the Aro uh so that’s
where the key Dynamics are placing at
this point of time given the kind of
uncertainty they got the investors got
into a good valuation Zone at this point
of time so the long-term Outlook of
Indian Telecom uh uh Market is concerned
it looks vibrant uh from a du still uh
there is a chance for the third um
operator in India that’s where it’s
creating the interest uh the promoters
interest also creating the interest
among the uh institutional investors so
for a retail investors are concerned we
have witnessed some kind of skittishness
with respect to the subscribing for the
uh is concerned so the high risk
capitate investors given the kind of the
activity what we witnessed in vone fpo
is concerned one can uh look into
considering at these valuations at this
point of time because of the
sustainability matx and the uncertainty
uh towards the business sustainability
has came down right now uh that is the
reason one can if if the investors have
a high risk appetite for a longer term
one can consider what ofone IPO vone
stock uh at this point of time and I
mean considering the kind surge we have
seen 11 and a half% rally in Vodafone
IDE I mean those who will perhaps get
the you know the shares they are at the
you know the upper band
uh of the entire price range of at 11
they are already sitting at about 31% so
perhaps a good bet for them but you know
you were talking about the Telecom space
in general I mean that is a space that
is buzzing off late apart from the
strong interest we saw in vodafone’s fpo
bti AEL has been in the stock uh in the
spotlight the stock has SED nearly 45%
in the last 6 months even today it SS
over 3% and hit a fresh record high it’s
Group Company bharti hexom after a St
debut of you know with the 30% listing
gains has surged another 20% in less
than 2 weeks Gio uh you know the
unlisted space continues to do well on a
quarteron quarter basis as we saw in the
results of Reliance Industries also you
know there are speculations of a tariff
hike that are making rounds which would
further you know uh boost arpus for
these companies so is it a good time to
enter this space granti or is most of
the upside already factored in
the good news for the investors is uh Su
at this point of time the price War
seems to be over okay now people are uh
looking at the profitability both Gio as
well as airel is concerned so that is
the reason the the interest is getting
created at this point of time so if the
tariffs are uh uh if move uh in the
coming quarters that’s going to uh uh
create some kind of interesting activity
with respect ECT to their margins are
concerned so that’s where uh that that
the one of the key reason
for vones FP was success also that’s
where the market is anticipating at this
point of time uh one thing is the price
Wars are are at this point of time are
in a consolidation phase right now so
that’s what creating the interest with
respect to the sustainability of the
business models are concerned but would
you bet on this page and what would you
pick uh if you had to bet on something
because we only have two listed players
the big ones of course are bharti AEL
vone idea then we have smaller players
as well uh bharti hexom is another one
what would you pick and what would you
add to your portfolio if you are betting
on the space that is yeah right now what
we can uh expect from these business
prospects sector is it’s quite robust
and vibrant uh but what we can expect is
a mid in kind of return return still uh
one can get from these business models
at this point of time uh definitely for
a moderate risk appetite investor one
can consider bariel at the primary pick
and if the investors have a high risk
appetite definitely they can consider
vone for a medium to longer term
perspective and I mean the kind of
returns vone idea has given over the
last uh you know last 6 months or even a
year I mean it has surged close to what
20% or so in the matter of last 6 months
32% actually uh from what my producers
are telling me in the last 1 month it
has sured close to 8% % and in the past
5 days close to 13.4% and most of the
upside came today uh remember vone idea
surged nearly over 11 and a half% today
it has crossed 14 Mark uh in today’s
trading session in fact uh bti AEL also
saw sh its lifetime highs the stock
rallied over 3% today and it has been a
tremendous wealth Creator in the last 6
months as we have seen you know the
stock has delivered close to a
45% returns in in that that time frame
uh so perhaps this is the space that uh
you know one can look out for in that we
have two listed players bharti Airtel
and Vodafone idea but there are multiple
smaller companies bti hexom is another
one we saw a seller debut for the
company it got listed at a premium of
about 32% or so from there on in a
matter of Just 2 weeks it has rallied
close to 20% nearly about 20% or so uh
although we saw some bit of a price
correction this uh in today’s trade but
uh overall even looking at the prospects
of it and you know the uh the reports
that are coming out on bti hexom the the
the the street looks extremely bullish
on the prospects of bharti hexom uh but
that’s enough on the Telecom space let’s
slip into a short break uh crany please
stay with us as we have much more to
discuss with you on the other side
[Music]
currently the industry is uh facing lot
of challenges as far as demand is
concerned basically that us markets has
slowed down because of high
[Music]
inflation so obviously you know uh
diamonds being uh a dream product
something which doesn’t have a utility
value or is seen as a luxury So that
obviously goes off your shopping list
that’s the first item that will go off
your shopping list especially in
recession
Trend that lab grown diamonds are not
mined and they do away with the entire
mining so they save up on all the
environmental damage that is associated
with Mining and of course you know the
Mining cost which is why they’re even
more
affordable people that is impacted by
all these recessions are the Artisans
are the people who work in this industry
right but uh I think lab grone Diamond
has uh allowed them to actually use
their skills in the same
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[Music]
vouchers welcome back you’re watching
lastek here on news9 and the 650 CR
initial public offering of jnk India is
now open for subscription and it will be
open for subscription till Thursday
which is April 25 the price band of the
IPO is set at 395 to 415 rupees per
share and it is a mix of fresh issue and
an offer for sale uh now crany coming to
you I mean the company is well
recognized heater company in India it
has a market share of about 27% but uh
the issue the price the valuation I mean
it seems it is aggressively priced at
the Upper price band the company’s
valued at a PE of 49.38.07
listing gains and all but uh but for a
longer term perspective there are new
business models are getting added to the
market investors need to observe these
new business models keenly if the
investors are looking for a longer term
given the kind of the business nature J
operates and also the future outlook of
the capex and also uh the the
infrastructure theme is concerned so jnk
have that edge to take the advantage in
the capex cycle and also uh uh uh the
the kind of expansions capacity
expansions what we are witnessing and
the businesses have have plans strong
capacity expansions that’s where jnk is
going to take the advantage so at this
point of time uh if if the investor have
a highrisk appetite one can add the
stock uh at the one can subscribe uh
during the IPO and where I’m more keenly
is if I have to make any serious
investment proposition in jnk probably I
wait for the couple of quarter results
and get the more information uh about
the company post listing uh that’s where
the senior serious Investments can be
made in this company uh for a portfolio
prospective if they given the kind of
rally and also the positivity what we
are uh uh witnessing in the secondary
Market at this point of time and also
the IPO Market at this point of time one
can uh subscribe for this IPO given the
kind of the long-term capex Outlook is
concerned at this point of time despite
of valuations are little bit stretched
but still the given the kind of the
business model the company carries one
can look into this stock because uh
these kind of companies are rarely comes
into the market uh uh at this point of
time all right that’s a verdict on jnk
India’s IPO uh but you know sir before
we let you go I just wanted to get your
view on you know the the the rally that
we are seeing in commodity and it’s not
just gold that it’s on a that is on a
bull run in 2024 but silver coffee zinc
other Commodities including copper
aluminium as well I mean they all are at
multi-month highs uh should a retail
investor add them to their portfolios
and how can they gain exposure to it to
these
Commodities yeah one thing is uh what
way the investors are going to uh invest
in this one thing is um whether they are
uh trading in the future or if they want
to have precious metals in their
portfolio uh personally I have been
adding silver uh in my portfolio from
quite a long time because of the
industrial usage the silver derives and
uh and uh adding gold in one’s portfolio
is always hedge uh but but what Quantum
is uh important uh for the investors
portfolio is concerned coming to the
metals are concerned as uh as uh uh the
Embargo that’s uh that’s made on um
Russia with respect to in the regions by
uh us and UK that has been creating some
kind of uh demand Supply mismatch with
respect to the base metals are concerned
coming to the precious metals sector is
concerned one can add silver in their
portfolio I have been quite bullish with
respect to the silver when compared to
uh gold because the reason of uh uh the
reason one reason behind the uh the
demand and Supply mismatches silver have
a more industrial usage whereas the
central banks have been buying gold even
the people Bank of China has improve
increased their gold reserves and also
what we can sense sh there is a Quantum
of liquidity that has been chasing uh
the precious metals that’s where uh the
demand for these precious metals has
been going up one can add through ETF
into their portfolio if they want to add
gold as the part of the silver as the
part of their portfolio all right and
interesting you picked up silver because
sir we have been discussing about silver
and gold you know silver is also at a
three-year High gold is at alltime high
but silver of course has industrial
usage as well and especially with you
know China on the menend maybe it’s
silver that you know continues to Rally
from here on but we’ll end at that sir
great insights from you as always hope
to see you again very soon in the future
sure always my pleasure to share My
Views with
you but with that it’s a wrap on this
edition of last week we’ll see you
tomorrow at 9:45 a.m. on first thank you
for
[Music]
watching how do you fulfill that promise
because ultimately expectations have to
be met
if you look at the political landscape
is it really changing for
women and what is the inability of the
forces that dead bodies surface but not
the living
[Music]
people currently the industry is uh
facing lot of challenges as far as
demand is concerned basically that us
markets has slowed down because of high
[Music]
inflation so obviously you know uh
diamonds being uh a dream product
something which doesn’t have a utility
value or is seen as a luxury So that
obviously goes off your shopping list
that’s the first item that will go off
your shopping list especially in
recessionary
trends that lab grown diamonds are not
mined and they do away with the entire
mining so they save up on all the
environmental damage that is associated
with Mining and of course you know the
Mining cost which is why they’re even
more
affordable people that is impacted by
all these recessions are the Artisans
are the people who work in this industry
right but uh I think lab gr Diamond has
uh allow them to actually use their
skills in the same
[Music]
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world’s first news
OT news9 plus download now
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from
Benchmark indices ended higher for the third straight session with last tick for Nifty coming around 22,350 whereas the Sensex ended 89 points higher at 73,700 mark. Grasim Industries, Bharti Airtel, Nestle India, Maruti Suzuki and Tata Motors were among major gainers on the Nifty, while losers included Sun Pharma, BPCL, Reliance Industries, M&M and Dr Reddy’s Laboratories.
#markets #marketnews #stockmarket #stocks
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