Market Commentary
Global markets – US indices closed mixed on Thursday over easing US treasury yields. Dow Jones closed flat. While Nasdaq rose by 1.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 41,859 | -0.0 | -1.6 |
| Nasdaq | 18,952 | 0.4 | -1.9 |
| Hang Seng | 23,680 | 0.6 | 18.1 |
| Nikkei | 37,280 | 0.8 | -6.6 |
Commodities – Gold prices and currently trading below USD 3,342 over strong dollar and US -China talks. On the other hand, oil prices rose and stood at USD 64.04/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,299 | 0.4 |
| Silver ($) | 33.18 | 0.2 |
| Brent Crude ($) | 64.04 | 0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,679 | 52,536 |
| 100 DMA | 23,439 | 50,974 |
| 200 DMA | 24,051 | 51,347 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading positive by 0.6 pct. While Nikkei trading in green by 0.8 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices declined on Thursday driven by rising US treasury yields and global uncertainty.
Result Today – Ashok Leyland, JSW Steel, NH, BEML
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,951 | -0.8 | 3.6 |
| Nifty | 24,609 | -0.8 | 4.1 |
| Nifty Bank | 54,941 | -0.2 | 8.0 |
| Nifty Midcap 100 | 56,324 | -0.5 | -1.5 |
| Nifty Smallcap 100 | 17,503 | -0.3 | -6.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -5054 | -131,226 |
| DII | 3715 | 251,455 |
Stocks to watch
Positive Read through
- Trent / BEL – To be included in BSE Sensex Index effective June 23.
- Power Mech – EBITDA jumped 44 pct, sales rose 42.40 pct YoY.
- TVS Motor – Signs MoU with OOR Cabs to deploy 500 electric 3-wheelers in Tamil Nadu.
- Honasa – Sales grew 13.20 pct YoY, early signs of improvement.
- Metro Brands – EBITDA increased 24.30 pct, margin at 30.70 pct vs 27.20 pct YoY.
- Max Estates – Achieves FY25 pre-sales guidance, FY26 pre-sales seen at Rs. 60–65 bn.
- ITC – Cigarette volume growth in-line with estimates, sales above estimates.
- GMR Airports – EBITDA up 23.50 pct, margin at 35.25 pct vs 33.39 pct YoY.
- Syrma SGS – To manufacture Dynabook laptops in India under strategic partnership.
Negative Read through
- GSPL – Bangladesh government cancels advanced ocean-going tug order worth ~USD 21 mn.
- Sun Pharma – Posts first net loss in 20 years, lowest-ever NIM, board suspects fraud against bank.
- Grasim – EBITDA declined 7 pct, margin at 35.90 pct vs 40.70 pct QoQ.
- MTAR Tech – Margin at 7.66 pct vs 8.74 pct, EBITDA declined 21 pct YoY.
- Nestlé – Sales missed expectations; margin declined 170 bps YoY.
- HFCL – Will not buy back shares of company due to compliance concerns.
- Concor – Sales, margin missed estimates, FY26 margin guidance below street expectations.
- Ramco Cements – EBITDA declined 5.25 pct, sales declines 4.28 pct YoY.
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