Market Commentary
Global markets – US indices closed mixed on Thursday after flat retail sales and decline in producer prices. Dow Jones rose by 0.6 pct. While Nasdaq fell by 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,322 | 0.6 | -0.5 |
| Nasdaq | 19,112 | -0.2 | -1.0 |
| Hang Seng | 23,254 | -0.8 | 15.9 |
| Nikkei | 37,659 | -0.3 | -5.6 |
Commodities – Gold prices dropped and currently trading at USD 3,208 over easing global trade. On the other hand, oil prices fell and stood at USD 64.50/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,208 | -0.9 |
| Silver ($) | 32.40 | -0.7 |
| Brent Crude ($) | 64.50 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,371 | 51,727 |
| 100 DMA | 23,384 | 50,763 |
| 200 DMA | 24,047 | 51,232 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading negative by 0.8 pct. While Nikkei trading lower by 0.3 pct.
Indian Indices – India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates. Benchmark indices extended gains on Thursday driven by potential trade deal with US.
Result Today – Hyundai, Emami.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,530 | 1.5 | 5.6 |
| Nifty | 25,062 | 1.6 | 6.0 |
| Nifty Bank | 55,355 | 1.0 | 8.8 |
| Nifty Midcap 100 | 56,530 | 0.7 | -1.2 |
| Nifty Smallcap 100 | 17,239 | 0.5 | -8.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 5392 | -126,662 |
| DII | -1668 | 235,369 |
Stocks to watch
Positive Read through
- SKF India – EBITDA grew 33 pct, margin at 23.4 pct vs 17.7 pct YoY.
- Crompton – Sales came in-line, profit & EBITDA above estimates.
- Infosys – Extends collaboration with DNB Bank ASA for digital transformation.
- Patanjali Foods – EBITDA up 37 pct, margin at 5.3 pct vs 4.6 pct YoY.
- Kaynes Tech – Posted Q4 above estimates, margin expanded 220 bps YoY.
- PB Fintech – Premium grew 37 pct YoY, adjusted EBITDA above analyst estimates.
- LT Foods – EBITDA grew 3.7 pct, sales rose 7.4 pct YoY.
- Endurance Tech – Steady set of earnings, EBITDA rose 8 pct YoY.
- Global Health – EBITDA jumped 25.2 pct, margin at 24.1 pct vs 22.2 pct YoY.
- Tega Industries – EBITDA up 8 pct, profit rose 14 pct YoY.
- Lupin – Plans to launch 80+ new products in India and 50+ in developed markets over 5 years.
- Biocon – Received approval for its ANDA for Rivaroxaban Tablets USP from the US FDA.
Negative Read through
- Alkem Lab – Cybersecurity incident in US arm with fraudulent funds transfer.
- Pricol – Margin at 10.4 pct vs 12.7 pct, profit declined 15.9 pct YoY.
- IndusInd Bank – Rs. 6.74 bn incorrect interest income in MFI, Rs. 5.95 bn unsubstantiated balances found.
- Bharti Airtel – 0.80 pct stake sale by Singtel via block deals, floor price at 3.6 pct discount to CMP.
- JSW Energy – Margin at 37.9 pct vs 42.6 pct, sales & EBITDA below estimates.
- Bikaji Foods – EBITDA dipped 67 pct, margin at 12 pct vs 36.5 pct YoY.
- JSW Infra – Sajjan Jindal Family Trust to sell up to 42 mn shares, floor Price at 3 pct discount to CMP.
- GR Infra – Profit fell 27 pct, sales declined by 8.5 pct YoY.
- Neuland Labs – Q4 misses estimates, EBITDA down 52 pct YoY.
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