Real retreat: NIFTY 50 rose 1.58% to 23,810.85
Prices are nervous and the money is leaving too. The fear is being acted on. Bhav 41, Dhan 45.
FinMinutes Markets · built from exchange, depository and company data · every number checked against the day's facts
The day
NIFTY 50 rose 1.58% to 23,810.85. The Bhav Dhan Index reads Real retreat. Prices are nervous and the money is leaving too. The fear is being acted on.
The money
FIIs were net buyers of ₹6,837 cr in cash, DIIs net sellers of ₹3,679 cr.
Conviction buying: FIIs bought ₹6,837 cr in cash and added 30,442 contracts net long index futures. Both legs point the same way.
Opposite sides: Retail clients are 77% long in index futures; FIIs are 12% long. When the two disagree this widely, one side is wrong.
| Index futures | Long share | Net | Day change |
|---|---|---|---|
| FII | 12% | −202,757 | +30,442 |
| DII | 88% | +43,104 | +2,132 |
| Retail (client) | 77% | +153,478 | −25,972 |
| Pro (brokers' own book) | 56% | +6,175 | −6,602 |
Index against breadth
311 Nifty 500 stocks rose and 183 fell (63% advancing).
Results, read forensically
14 companies' results were read today; 2 raised a serious question. Linde India Ltd.: The auditor did not give a clean conclusion on these results. What is the qualification about?
| Company | Revenue y/y | Profit y/y | What the checks found |
|---|---|---|---|
| Linde India Ltd. | +12.3% | −30.5% | serious question The auditor did not give a clean conclusion on these results. What is the qualification about? |
| Graphite India Ltd. | +13.3% | +23.7% | serious question Half or more of pre-tax profit came from other income. What is it, and does it repeat? |
| Lloyds Metals And Energy Ltd. | +55.3% | +85.7% | 2 to ask The auditor drew attention to a matter in the limited review report. Read it before the numbers. |
| State Bank of India | +10.3% | +19.7% | 1 to ask An exceptional item is a large part of pre-tax profit. What was it? |
| BLS International Services Ltd. | +32.0% | +8.6% | 1 to ask Operating margin fell sharply on the year. Pricing, input costs, or mix? |
| Gujarat Fluorochemicals Ltd. | +45.5% | +42.0% | 1 to ask An earlier period was restated. What was wrong with the first version? |
This morning's brief, scored
FIIs turn net buyers in the cash market: yes. That means the rally would be getting funded, not just priced.
DIIs buy at least as much as FIIs sell: yes. That means domestic money would be absorbing the whole of the foreign selling.
India VIX closes lower than the day before: no. That means traders would still be paying up for protection.
- YesFIIs turn net buyers in the cash market. The rally would be getting funded, not just priced.
- YesDIIs buy at least as much as FIIs sell. Domestic money would be absorbing the whole of the foreign selling.
- NoIndia VIX closes lower than the day before. Traders would still be paying up for protection.
Queued for tomorrow
Wednesday, 4 November: 22 results board meetings, including Afcons Infrastructure Ltd., Apollo Tyres Ltd., Aptus Value Housing Finance India Ltd., BSE Ltd., Balrampur Chini Mills Ltd..
- 22 results board meetings: Afcons Infrastructure Ltd., Apollo Tyres Ltd., Aptus Value Housing Finance India Ltd., BSE Ltd., Balrampur Chini Mills Ltd., Biocon Ltd., Chalet Hotels Ltd., Exide Industries Ltd., FSN E-Commerce Ventures Ltd., Garden Reach Shipbuilders & Engineers Ltd., Housing & Urban Development Corporation Ltd., IRCON International Ltd., JM Financial Ltd., JSW Dulux Ltd., Kirloskar Oil Eng Ltd. and more