Market Commentary
Global markets – US indices closed positive on Monday over upcoming earnings and economic data. Dow Jones closed higher by 0.2 pct. While Nasdaq closed green by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,459 | 0.2 | 4.5 |
| Nasdaq | 20,640 | 0.3 | 6.9 |
| Hang Seng | 24,241 | 0.2 | 20.8 |
| Nikkei | 39,507 | 0.1 | -1.0 |
Commodities – Gold prices rose and currently stood at USD 3,354 overt tariff concern. On the other hand, oil prices stood at USD 68.85/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,354 | 0.4 |
| Silver ($) | 38.14 | 0.1 |
| Brent Crude ($) | 68.85 | -0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,967 | 55,953 |
| 100 DMA | 24,057 | 53,460 |
| 200 DMA | 24,083 | 52,292 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading up by 0.2 pct. While Nikkei trading positive by 0.1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices fell on Monday as IT stocks offset gains in other sectors.
Result Today – HDB Financial Services
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,253 | -0.3 | 5.3 |
| Nifty | 25,082 | -0.3 | 6.1 |
| Nifty Bank | 56,765 | 0.0 | 11.6 |
| Nifty Midcap 100 | 59,052 | 0.7 | 3.2 |
| Nifty Smallcap 100 | 18,954 | 1.0 | 1.0 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1614 | -134,500 |
| DII | 1787 | 372,053 |
Stocks to watch
Positive Read through
- Rallis India – Sales up 22 pct, margin expanded 350 bps YoY, double-digit growth across business.
- Sun Pharma – Launches speciality product Leqselvi in the US after patent settlement.
- Railtel – Receives order of Rs. 2.64 bn from East Central Railway for KAVACH.
- IRB Infra – WB SPV gets completion certificate, sees Rs. 1 bn increase in toll sales of the project.
- Oberoi Realty – Co-led consortium wins Rs. 9.19 bn resolution plan for Hotel Horizon in Mumbai.
- Lloyds Ent – To consider fund raising via rights issue or other means on July 21.
- Inox Wind – To consider fund raising proposal via rights issue, other means on July 17.
- Power Mech – Secures 2 orders valued at Rs. 5.51 bn.
- Unicommerce – Company and Sennheiser team up to tackle 70 pct cart abandonment.
- Namo eWaste – Launched a new Lithium-Ion battery recycling plant in Nashik, Maharashtra.
- Deepak Fertilizer – Signed a regasification agreement with Petronet LNG.
Negative Read through
- Tata Tech – Q1 sales declined 4.6 pct QoQ, EBIT margin at 13.6 pct vs estimate of 14.4 pct.
- HCL Tech – Sales muted but slightly ahead of estimates, margin missed, margin guidance cut.
- Tejas Networks – Sales fell 89 pct QoQ and fell 87 pct YoY.
- IGL, MGL & Guj Gas – PNGRB flags irregularities in domestic PNG pricing, asks for a uniform rate.
- Shiva Mills – Long-term bank facilities: CARE BBB; Stable, downgraded from CARE BBB+; Negative.
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