Market Commentary
Global markets – US indices closed positive on Tuesday after Trump denies plan to oust Fed Chair Powell. Dow Jones closed higher by 0.5 pct. While Nasdaq closed green by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,254 | 0.5 | 4.0 |
| Nasdaq | 20,730 | 0.3 | 7.4 |
| Hang Seng | 24,473 | -0.2 | 22.0 |
| Nikkei | 39,602 | -0.2 | -0.7 |
Commodities – Gold prices fell and currently stood at USD 3,338 over stronger dollar. On the other hand, oil prices stood at USD 68.79/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,338 | -0.3 |
| Silver ($) | 37.89 | -0.1 |
| Brent Crude ($) | 68.79 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,999 | 56,058 |
| 100 DMA | 24,102 | 53,617 |
| 200 DMA | 24,075 | 52,322 |
Asian markets – Asian markets trading negative in the early morning trade. Hang Seng trading down by 0.2 pct. While Nikkei trading negative by 0.2 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed flat on Wednesday, as rally in state run Banks offset losses in metals due to stronger dollar.
Result Today – Axis Bank, Indian Hotels, Polycab
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,634 | 0.1 | 5.8 |
| Nifty | 25,212 | 0.1 | 6.6 |
| Nifty Bank | 57,168 | 0.3 | 12.4 |
| Nifty Midcap 100 | 59,620 | 0.0 | 4.2 |
| Nifty Smallcap 100 | 19,140 | 0.0 | 2.0 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1858 | -136,238 |
| DII | 1223 | 374,841 |
Stocks to watch
Positive Read through
- GMR Airports – June passenger traffic grew 1 pct and aircraft movements rose 2.6 pct YoY.
- Oriental Hotels – Sales rose 26 pct YoY, company says asset upgradations aid growth.
- Hexaware – To acquire Tech SMC Square India and Tech SMC Squared for Rs. 10.29 bn in all cash deal.
- Lupin – Launched loteprednol etabonate ophthalmic suspension in the US.
- SBI – Launched Rs. 250 bn QIP, indicative offer price likely at Rs. 806.75–₹831.70/share.
- Hindustan Zinc – Gets LoI as preferred bidder for e-auction of Rajasthan block.
- Glenmark Pharma – Company targets 12–14 pct medium-term sales CAGR, margin seen at 23 pct.
- Tanfac Ind – Profit jumped 71 pct and sales shot up 85 pct YoY.
- PNC Infra – L1 bidder for a solar power project floated by NHPC.
- TVS Motor – Launches Apache RTR 310, starting price at Rs. 2.39 lakh.
- Kalpataru Ltd – FY25 pre-sales up 41 pct, collections up 36 pct YoY.
- Godrej Prop – Acquires 50-acre land in Raipur for plotted development.
- Le Travenues – Sales jumped 74 pct, margin at 8.1 pct vs 9.1 pct YoY.
- Emcure – Distribution agreement with Sanofi India for brands like Amaryl and Cetapin.
Negative Read through
- Angel One – Weak operational performance, margin at 24.1 pct vs 32.5 pct YoY.
- JTL Ind – Posted weak results YoY but EBITDA/tonne improves QoQ, profit fell 44 pct YoY.
- Tech Mah – Sales missed, margin improved, CC sales declined 1.4 pct vs estimate of 0.7 pct fall.
- LTTS – Sales declined 4.2 pct QoQ in CC, higher than estimate of 3.2 pct fall.
- JSW Energy – SC rules against JSW Hydro Energy in dispute with Himachal government.
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