Market Commentary
Global markets – US indices closed mixed on Friday with focus on US – China Trade deal. Dow Jones closed red by 0.3 pct. While Nasdaq closed flat.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 41,249 | -0.3 | -3.0 |
| Nasdaq | 17,928 | 0.0 | -7.2 |
| Hang Seng | 23,027 | 0.7 | 14.8 |
| Nikkei | 37,519 | 0.1 | -6.0 |
Commodities – Gold prices dropped and currently trading at USD 3,275 on US – China deal. On the other hand, oil prices rose and stood at USD 64.18/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,275 | -1.6 |
| Silver ($) | 32.62 | -0.3 |
| Brent Crude ($) | 64.18 | 0.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,252 | 51,363 |
| 100 DMA | 23,382 | 50,714 |
| 200 DMA | 24,044 | 51,188 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading positive by 0.7 pct. While Nikkei trading up by 0.1 pct.
Indian Indices – India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates. Benchmark indices continued downward rally fuelled by rising geopolitical tensions.
Result Today – Tata Steel, SRF, UPL, GRSE, Jyothy Labs
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 79,454 | -1.1 | 1.7 |
| Nifty | 24,008 | -1.1 | 1.5 |
| Nifty Bank | 53,595 | -1.4 | 5.4 |
| Nifty Midcap 100 | 53,223 | -0.0 | -7.0 |
| Nifty Smallcap 100 | 16,085 | -0.6 | -14.3 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3798 | -133,757 |
| DII | 7277 | 230,999 |
Stocks to watch
Positive Read through
- Navin Fluorine – Posted Q4 in-line with estimates, margin up 720 bps YoY.
- BEML – Madhya Pradesh government allots ~148-acre land.
- SBI, Yes Bank – SBI, other Banks to sell 20 pct stake in Yes Bank to Sumitomo Banking Corp.
- Birla Corp – Reported Q4 above estimates, realisations up 7 pct QoQ.
- Prestige Est – To jointly develop real estate projects in Chennai with Arihant.
- Solara – US FDA issues Form 483 with zero inspectional observations for Ambernath unit.
- Adani Power – Gets LoA from UP Power Corp to procure 1,500 MW.
- Novartis India – Margin at 28.5 pct vs 14.2 pct, sales grew 3 pct YoY.
- Puravankara – JV for 24.59-acre land in Bengaluru, potential GDV Rs. 33 bn.
- CE Info – EBITDA jumped 46 pct, sales increased 34.2 pct YoY.
- Rural Stocks – Monsoon hitting Kerala on May 27, ahead of usual date of June 1-IMD.
Negative Read through
- Manappuram Fin – NII down 3 pct, other expenses up 21 pct YoY.
- Thermax – Q4 below estimates, soft growth in industrial infra & green solutions business.
- Pharma – To sign an executive order to reduce drug prices, Trump on Truth Social.
- Bank of India – NIM at 2.61 pct vs 2.80 pct, NNPA at 1.22 pct vs 0.85 pct QoQ.
- Swiggy – Quick-commerce losses impact overall EBITDA & profitability.
- ABB India – Q1CY25 misses estimates, EBITDA margin up 8 bps YoY.
- Glenmark – US FDA classifies Indore, MP manufacturing unit as official action indicated.
- Eveready – EBITDA rose 2.4 pct, margin at 8.6 pct vs 9 pct YoY.
- IndusInd Bank – Moody revised the outlook to Negative & downgraded baseline credit assessment..
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