RILiable rally

Nifty50: 17,784 ▲ 177 (+1.0%)
Sensex: 59,447 ▲ 574 (+1.0%)

Namaste Upstox Fam!

Do you believe in signs?

After making the dreaded ‘Death Cross’ last month– the market equivalent of Voldemort’s Dark Mark- markets turned volatile. But, now, there could be hope. Seasoned traders are avidly watching the 50-day moving average. Will it or won’t it break above the 200-day moving average? If it does, it could indicate better days for the market. Well, we are keeping our fingers and toes crossed too.

• After seeing red for the five straight days, markets threw a googly, and closed higher.
• Match Openers Reliance Industries, Infosys and TCS led the charge.
• Out of the Nifty50 stocks, 38 closed in the green.

Among the Nifty sectoral indices, Auto (+2.2%) and Oil & Gas (+1.9%) were the top gainers, while Media (-0.4%) and Metal (-0.3%)  were the top losers.

Did you know?

You can now place Good-Till-Triggered (GTT) orders on the new Upstox app. To know more about GTT orders, click here.

For more updates on F&O, click here.

What’s trending

⭐Sarkari companies have become investor darlings. The Benchmark BSE PSU index, which tracks such companies, is up by 7% this month. Top gainers include MRPL, Bharat Dynamics and Mazagon Dock Shipbuilders, which have risen between 31% to 63% since April 1.

⭐Sona, kitna sona hai...Sona BLW Precision's stock revved up over 4% after the company announced a tie-up with Canada-based Enedym. The two are partnering to make magnet-less EV motors for Indian roads. Why is this a positive? Magnet-less motors are cheaper and offer higher performance.

⭐Look who’s 'steel' alive after sinking 82%? Tata Steel Long Products (-6%) The company has reported underwhelming Q4 results. Its net profit has nosedived 82% year-on-year to ₹59 crore in the March quarter after raw material costs spiked. Yikes! 

⭐People may be booking vacations, but the spectre of Covid still haunts them. Ask life insurance companies. The industry has registered a 37% increase in premiums from new policies in March. IPO-bound LIC has also seen a 51% rise in new business premiums. Although, the spike could also be because few insurance policies were sold during the pandemic year. 

⭐ What's UP in Dilli? Masks! If you are a resident of Saddi Dilli, you better get your mask on or be prepared to shell out ₹500. Although the positivity rate in NCR has dropped to 4%, masks have become mandatory. Meanwhile, across India, 2,067 new cases were reported on Tuesday, a 65% jump from Monday. 

⭐But look who’s recovering momentum- Diagnostics companies’ shares are back in action following a rise in Covid infections. Shares of Thyrocare, Dr. Lal Path Labs and Metropolis were up over 3% intraday. 

⭐Netflix and not so chill. In a departure from its ad-free stance, the streaming giant said it may offer subscribers the option of a cheaper ad supported plan. This after Netflix lost two lakh subscribers last quarter. 

In Focus

Lights out!

Enjoy your air-conditioned comfort while it lasts, kyunki bahut jald ho sakti hai Batti Gul!

Across India, power plants are running out of coal. An ICRA report said 12 states including Andhra Pradesh, Maharashtra, Gujarat, Punjab, Jharkhand, and Haryana are already facing power shortages in the range of 3-4%. 

Maharashtra’s energy minister too has been quoted as saying 12 states could face a power crisis soon. In Maharashtra itself, the power deficit stands at 15%. Meanwhile, Coal India is coming up Diamonds! Depleting inventory, and rising prices of coal have seen the company’s stock go up 6% this week.

IPO corner

Another footwear company is sprinting to the bourses. India’s largest sports and athleisure brand Campus will launch its IPO on 26 April 2022. After Metro Brands’ debut on the exchanges in December last year, this is the second footwear company to tap into the equity markets. The price band for the IPO is ₹278-₹292 per share. The public issue is completely an offer of sale. 

Click here to apply for IPOs on Upstox. 

Good to know

What is dearness allowance?

In sickness and in health and during inflation too, Sarkari companies look out for their own. Which is why the government gives a Dearness allowance to employees and pensioners. This is given over and above the salary and helps employees to compensate for price rise or inflation. Since it is a cost of living adjustment, it differs for every employee based on their location. For instance, it is different for employees in rural, semi-urban, and urban areas. 

Why are we talking about DA? The government recently announced a DA hike ranging between 3% to 34%. This will be effective starting from January 1, 2022. What it means — more money for you to invest!

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