Indices Down .7% : Ultatech, Asian Paints, BPCL, Kotak Up, ICICI, HDFC, Adani, UPL Down

A weak start for the week with both Indian market indices Nifty and Sensex trading with .7% loss in the morning trade today (27th July 2020). Ultratech Cements, Asian Paints, BPCL and Kotak Bank are trading with more than 1% gains while many stocks are with more than 2% loss like ICICI Bank, HDFC Bank, Adani Ports, UPL, Sun Pharma, SBI etc.

Gainers : UltraTech Cement (1.3%), Asian Paints (1.2%), Bharat Petroleum Corporation (1.1%), Kotak Mahindra Bank (1.0%), Tata Consultancy Services (0.8%), Shree Cement (0.7%), Losers : ICICI Bank (-3.7%), Adani Ports and Special Economic Zone (-2.8%), HDFC Bank (-2.8%), UPL (-2.6%), Sun Pharmaceutical Industries (-2.2%), State Bank of India (-2.0%), IndusInd Bank (-1.9%), Cipla (-1.8%

Only very few stocks are with more buy orders like Eicher Motors, Ultracemco, Shree Cements, Powergrid etc. More sell orders in stocks like Reliance, ICICI Bank, Wipro, HDFC Bank, HUL etc.

Top Buy Bids : Eicher Motors (41%), UltraTech Cement (13%), Shree Cement (8%), Power Grid Corporation of India (6%), Top Sell Bids : Reliance Industries (-38%), ICICI Bank (-32%), Wipro (-32%), HDFC Bank (-27%), Hindustan Unilever (-25%), Sun Pharmaceutical Industries (-25%), Cipla (-22%), Oil & Natural Gas Corporation (-21%), Tata Consultancy Services (-20%)

No major Volume Gainers in the first 45 minutes trading as usual : Zee Entertainment Enterprises (-43.2%), Reliance Industries (-47.9%), ICICI Bank (-53.6%), HCL Technologies (-59.9%), Asian Paints (-61.2%), Bharat Petroleum Corporation (-68.8%)

Major Recoveries Today : Zee Entertainment Enterprises (4.4%), Bharat Petroleum Corporation (2.1%), JSW Steel (2.0%), Bharti Airtel (1.7%), Bharti Infratel (1.6%), Vedanta (1.5%), UltraTech Cement (1.3%)

Major Drops Today : ICICI Bank (-4.9%), UPL (-3.3%), Cipla (-3.0%), Reliance Industries (-3.0%), Adani Ports and Special Economic Zone (-2.8%), State Bank of India (-2.7%), Sun Pharmaceutical Industries (-2.6%)

Buy vs Sell bids and overall gainers/losers indicates a negative sentiments altogether. But being a Monday morning we cannot decide anything now. This week is going to be a major earning week in the US with many technology majors are expected to announce their quarterly results this week. So the current trend might be only a short term sentiment. If Europe managed to open without much loss our markets also hopefully will sustain current level or will move up further from current level.