Nifty Ends the Session Strongly; NCC Bags Six Orders Worth Rs 1,548 Crore

Nifty opened on a flat note and traded in both positive and negative territories. In the second half, some buying helped the index to close near the day’s high. Volume of shares traded dried up for the two consecutive days. Around 74% of Nifty50 stocks closed in the green, led by Zee Entertainment Ents. (+8.1%) and Mahindra & Mahindra (+5.8%). On the flip side, Bajaj Auto (-2.6%) and Hero Motocorp (-1.7%) were the major decliners.

Broader market indices outperformed the major index. Barring Nifty PSU Bank (-0.4%) and Fin Service (-0.03%) all the sectoral indices closed in the green. Nifty Media (+3.4%) and Metal (+1.8%) advanced the most.

The market remains in an Uptrend Under Pressure. We will be slightly cautious while initiating fresh long positions. We will change the status to a Downtrend, if two-three more distribution days are added or if Nifty breaches its 50- and 200-DMA. On the flip side, the status will be shifted back to a Confirmed Uptrend if Nifty retakes 11,795 level (high during the recent rally).

Key News

Ncc bagged six orders totaling Rs 1,548 crore. Major order is from Water division worth Rs 959 crore, followed by Rs 262 crore order from Building division and remaining four from Electrical division.

Jubilant Foodworks announced its Q1 FY21 results. Revenue was down 59% y/y to Rs 388 crore. It reported a loss of Rs 74 crore compared with a profit of Rs 71 crore in the corresponding quarter last year.

Bajaj Auto declared its August sales numbers. Total two-wheeler sales declined 1% y/y to 3,21,508 units, whereas domestic sales de-grew 11% to 1,85,879 units.

Top 5 DeFi Tokens & Trends to Look Out in 2020

Even before, peoples who are top in this industry have decided that DeFi is going to rule the entire financial networks. It would be the next technology that might bring an upgraded version of the FinTech network. By the expert’s advice, most of the DeFi related projects have brought more success along with the DeFi Tokens. In this article, we will be going to discuss the top & trending DeFi tokens of 2020, and how it performs better than other digital assets like bitcoin, etc.

What is the DeFi Token?

Decentralized Finance (DeFi) – It is upgraded financial networks that have created a huge impact and transformation across the entires FinTech network into decentralized & transparent. With the help of blockchain technologies like Decentralized Applications (DApps), smart contracts, and tokens, this can be achieved. DeFi tokens are the ethereum tokens and also it may be a digital asset, crypto, or whatever. DeFi tokens act as a medium for traders, it takes a vital role and also experiences the financial services in newly create DeFi apps.

Trends of DeFi Tokens in 2020:

Many DeFi related projects, products, and services are already in the queue. But the sectors gained a lot of attention towards the DeFi protocol are “Borrowing and Lending Platforms”. Defi is like smart money legos integrated along with the smart contracts. Moreover, incorporating the components of DeFi such as Smart Contracts, DApps, and Tokens, we will provide you the best and reliable new DeFi applications each time. And also the DeFi network is added to the new kind of platform with its tokens. So, here we are going to talk about the top trends of tokens in 2020 as per the data trackers.

1. Synthetix – SNX Token:

It is the derivative protocol which is created by its token called SNX. Currently, Binance has listed this token for trading. Th users have to stake a minimum of 750% of mint derivatives in the value of SNX.

� Website: Synthetix.io

� Market Value: 7,277,440

� Total Supply: 190,075,446 SNX

2. Kyber Network – KNC Token:

The native token of Kyber.Network is KNC. Its a decentralized exchange platform, KNC will be incinerated by the collected fees from the exchange.

� Website: kyber.network

� Market Value: 7,511,105

� Total Supply: 210,623,056 KNC

3. Aave – LEND Token:

Aave is also another leading protocol which is created by its own DeFi token called LEND. Whereas the LEND token will receive the value from the borrowing and flash loan fees.

� Website: aave.com

� Market Value: 4,493,926

� Total Supply: 1,299,999,942 LEND

4. UMA – UMA Token

UMA is also another derivative protocol which is created by its own native token called UMA. This kind of protocol is used to create permissionless synthetic assets.

� Website: umaproject.org

� Market Value: 2,547,696

� Total Supply: 100,224,817 UMA

5. 0x Protocol – ZRX:

0X Protocol – ZRX is a liquidity protocol that is used to provide the best liquidity services for various decentralized (DEX) exchanges.

� Website: 0x.org

� Market Value: 2,789,023

� Total Supply: 1,000,000,000 ZRX

Summing Up:

DeFi tokens are making a new way for the financial networks that could bring decentralization by being away from centralized networks. This tokens may help the decentralized finance system to grow more with the optimistic DeFi blockchain projects. Are you planning to build decentralized applications for your financial services? Reach out to the topmost DeFi development company offers complete decentralized finance (DeFi) services & solutions which empower your business with more transparency, security, & trust.

SGX Nifty Indicates Positive Opening; HSIL Announces Share Buyback of Rs 70 Crore

Nifty, after a flat opening yesterday, traded sideways in the first half of the trading session. In the second half, global sentiments weighed on the index, leading to a sharp selloff in the Indian market. Nifty formed lower low in the hourly chart and closed near the day’s low, posting significant loss.

In the process, Nifty breached its 50-DMA. However, as volumes were lower than the previous session, Nifty escaped from adding a distribution day. In addition, most of the leaders are still trading above their 50-DMA. Thus, we will closely watch one or two days more before downgrading the market to a Downtrend. The broader market also felt the heat of bearish sentiment. Nifty Midcap was down 4.1%, while Smallcap closed 4.2% lower.

As the market is in an Uptrend Under Pressure, investors should proceed with caution. Unless a stock shows exceptional fundamental and technical strength, no new addition to the portfolio is advised. Investors should consider booking profits in stocks that have performed well and advanced 20–25% from their ideal buy points.

Key News

Hsil announced buyback of shares up to Rs 70 crore at a share price of Rs 105, which is around 45% premium to the current market price.

Shree Renuka Sugars approved issue of 21.16 crore equity shares at a price of Rs 8.74 per share aggregating to Rs 185 crore on preferential basis to Promoter, Wilmar Sugar Holdings Pte Ltd.

O’Neil Market Condition Report

For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 20%; Rally Attempt, 0%; Uptrend Under Pressure, 68%; Downtrend, 12%.

For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 12%; Rally Attempt, 4%; Uptrend Under Pressure, 80%; Downtrend, 4%.

Buy Watchlist: Bayer Cropscience, Info Edge (India) (Nse), Alembic Pharmaceuticals, Bharti Airtel, Biocon (Nse), Sun Pharm.Industries, Multi Cmod.Ex.Of India, Tata Consultancy Svs., Escorts, Sudarshan Chemicals, Sumitomo Chemical India, and Aurobindo Pharma

Sell Watchlist: Indian Energy Exchange, Balkrishna Industries, and Bse

SGX Nifty Indicates Negative Opening; Rites Announces Share Buyback of Rs 257 Crore

Global stock markets: Dow 30, -0.9%; S&P, -1.1%; Nasdaq, -1.1%; Nikkei, +0.2%; Hang Seng, -0.5%; KOSPI, +0.02%

During the last week, Nifty moved in a relatively narrow range compared with the previous weeks. Through the week, it traded near its 21-DMA. On Friday, Nifty opened on a positive note and traded in positive territory for most of the session. After 2pm, sharp selling in financial stocks dragged the market to negative territory. It lost around 140 points in a span of 30 minutes. Later, some recovery was seen as Nifty pared most of its losses.

In the last week, the reaction on sectoral indices were mixed. Nifty Pharma (+8.9%) was the biggest advancer, followed by Nifty IT (+6.4%), and Realty (+5.5%). On the flipside, Nifty Financial (-4.5%) and PSU Bank (-3.9%) were the major decliners.

As the market condition is in an Uptrend Under Pressure, investors should proceed with caution. Unless a stock shows exceptional fundamental and technical strength, no new addition to the portfolio is advised. Investors should consider booking profits in stocks that have performed well and advanced 20–25% from their ideal buy points. Looking forward, we will change the status to a Downtrend, if more distribution days are added or if Nifty breaches its 50- and 200-DMA. On the flip side, the status will be back to a Confirmed Uptrend if Nifty retakes the 11,795 level (high during the recent rally).

Key News

Rites announced the buyback of shares up to Rs 257 crore at a share price of Rs 265, which is around 4% premium to the current market price. It has fixed September 30 as the record date.

Total liabilities of the Indian government increased to Rs 101.3T at the end of Q1 FY21, from Rs 94.6T at the end of March quarter.

O’Neil Market Condition Report

For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 34%; Rally Attempt, 8%; Uptrend Under Pressure, 54%; Downtrend, 4%.

For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 34%; Rally Attempt, 8%; Uptrend Under Pressure, 58%; Downtrend, 0%.

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