Market Commentary
Global markets – US indices closed slightly higher on Monday after rating agency downgrades US rating. Dow Jones rose by 0.3 pct. While Nasdaq closed flat.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,792 | 0.3 | 0.6 |
| Nasdaq | 19,215 | 0.0 | -0.5 |
| Hang Seng | 23,562 | 1.0 | 17.5 |
| Nikkei | 37,691 | 0.5 | -5.5 |
Commodities – Gold prices fell and currently trading at USD 3,208 over Russia – Ukraine talks. On the other hand, oil prices remain flat and stood at USD 65.44/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,208 | 0.7 |
| Silver ($) | 32.28 | 0.4 |
| Brent Crude ($) | 65.44 | 0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,527 | 52,134 |
| 100 DMA | 23,409 | 50,858 |
| 200 DMA | 24,054 | 51,295 |
Asian markets – Asian markets trading positive in the early morning trade. Hang Seng trading in green by 1.0 pct. While Nikkei trading higher by 0.5 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed lower on Monday largely tracking weakness in global markets after downgrading of US government’s rating.
Result Today – Hindalco, Solar Industries, Dixon Tech, Suyog Telematics.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,059 | -0.3 | 5.0 |
| Nifty | 24,945 | -0.3 | 5.5 |
| Nifty Bank | 55,420 | 0.1 | 9.0 |
| Nifty Midcap 100 | 57,105 | 0.1 | -0.2 |
| Nifty Smallcap 100 | 17,649 | 0.5 | -6.0 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -525 | -118,357 |
| DII | -237 | 240,318 |
Stocks to watch
Positive Read through
- BEL – Posted Q4 above estimates, sales & margin surpass FY25 guidance.
- PI Ind – Sales & EBITDA gre nearly 3 pct each, FY25 gross margin improves YoY.
- RBA – India business EBITDA up 16 pct, margin at 15.30 pct vs 14.70 pct YoY.
- IRB Infra – Margin at 46.4 pct vs 43.2 pct, EBITDA up 12.20 pct YoY.
- Redington – EBITDA jumped 30 pct, sales rose 18 pct YoY.
- DLF – Q4 bookings shot up 39 pct, collections rose 51 pct YoY.
- Shyam Metalics – Forays into wagon manufacturing, to set up facility for 4,800 units in 2 phases in Kharagpur.
- Petronet LNG – Margin above estimate, headline numbers aided by reversal of provisions.
- NLC India – EBITDA grew 43 pct, margin at 22.5 pct vs 17 pct YoY.
- Eris Life – Margin at 35.80 pct vs 26.90 pct, EBITDA up 70 pct YoY.
- Waaree Energies – To buy transformer maker Kamath Transformers for Rs. 2.93 bn.
Negative Read through
- GMR Power – Margin down 529 bps, EBITDA declines 14.40 pct YoY.
- Power Grid – Muted Q4 & FY25, calculated cons capitalisation below guidance.
- Carysil – EBITDA flat, margin at 17.1 pct vs 18.2 pct YoY.
- Gujarat Gas – Industrial volumes down 21 pct, sales down 1 pct QoQ.
- JK Paper – EBITDA down 39.70 pct, margin at 12.8 pct vs 20.9 pct YoY.
- One MobiKwik – EBITDA loss vs EBITDA, sales flat QoQ.
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