FIIs turn villains again but DIIs overpower them! Post-Market Report, 14 Jul 2021
Good Evening Everyone, What an exciting day today. I am sure you are wondering what the title means when you could see the Nifty moving up continuously. But if you notice the below chart closely, you case see some big candles in red post-lunch, they were nothing else but the FII's selling huge and they did sell for a net of Rs. 1303.95 crores and DIIs supported the market with a net buy of Rs. 1335.91 crores. If you are not a member of the MPI Invest group yet, click here now to join the group and invest as a community.
On the daily chart, Nifty still holds a positive bias and could lead to higher levels if Reliance & HDFC can offer some support along with the IT as Infosys has announced very good results this evening after market hours. However, this may not be a good time to buy shares as we are not clear if can see another selling tomorrow at 15900 & also tomorrow being the weekly expiry, we can expect volatility in the market.
As we had a lively discussion in our discord group, the IT sector was leading the day without doubt adding all those brownie points to the Nifty to help sustain the FII selling. The rally was lead by Wipro and Mindtree as Mindtree came up with great results. Now that Infosys has also come out with good results, let us hope the rally continues in the IT sector, which has been dormant for a few days now.
We can see, Wipro, TechM, Infy & HCL is on the top gainer's list as they lead the rally. Also, It was a surprise to see ITC among the top gainer's list today.
PSU Banks, Realty & Auto were down today lead by Maruti in the Top losers list as Maruti plans to expand its production with a CAPEX investment into building a new car plant in Haryana.
It was surprising to see even Adani ports move down even after they took over the Mumbai airport from GVK. Reliance also came in the top losers list for no reason and will just hope to regain strength to push Nifty to its all-time high. That's it for now, lets catch up tomorrow morning on the Pre-market report.