Market Commentary
Global markets – US indices closed higher on Wednesday as US – Japan trade deal sets lower tariffs. Dow Jones closed green by 1.1 pct. While Nasdaq closed positive by 0.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 45,010 | 1.1 | 5.8 |
| Nasdaq | 21,020 | 0.6 | 8.9 |
| Hang Seng | 25,673 | 0.5 | 28.0 |
| Nikkei | 41,983 | 2.0 | 5.2 |
Commodities – Gold prices fell and currently stood at USD 3,378 over easing trade tensions. On the other hand, oil prices stood at USD 68.69/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,378 | -0.3 |
| Silver ($) | 38.93 | -0.9 |
| Brent Crude ($) | 68.69 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,048 | 56,229 |
| 100 DMA | 24,188 | 53,916 |
| 200 DMA | 24,057 | 52,386 |
Asian markets – Asian markets trading higher in the early morning trade. Largely tracking western peers. Hang Seng trading up by 0.5 pct. While Nikkei trading green by 2.0 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed Positive on Wednesday backed by positive cues from Asian markets after US – Japan trade deal.
Result Today – Bajaj Finance, REC, Coromandel
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,726 | 0.7 | 5.9 |
| Nifty | 25,129 | 0.6 | 6.7 |
| Nifty Bank | 57,210 | 0.8 | 12.5 |
| Nifty Midcap 100 | 59,307 | 0.3 | 3.7 |
| Nifty Smallcap 100 | 18,893 | -0.0 | 0.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4209 | -148,997 |
| DII | 4358 | 392,942 |
Stocks to watch
Positive Read through
- Wabag – Received LOI for 300 MLD mega sea water desalination plant in KSA for Rs. 23.32 bn.
- Persistent Systems – EBIT margin in-line with estimates at 15.50 pct, new TCV up 2 pct QoQ.
- Tata Consumer – Q1 largely in-line with estimates, gross margin declined contained by efficiencies.
- Bajaj Housing Finance – AUM rose 24 pct, NIMs remain stable at 4 pct QoQ.
- Natco Pharma – To acquire 35.75 pct equity in Adcock Ingram, SA for Rs. 20 bn.
- Bikaji Foods – Q1 sales rose 14.20 pct, EBITDA grew 5.10 pct YoY.
- IndusInd Bank – Fund raise of up to Rs. 300 bn seeks RBI nod for promoters to nominate 2 directors.
- Infosys – Strong Q1, FY26 CC sales growth guidance raised to 1-3 pct from 0-3 pct.
- Coforge – Q1 largely in-line with estimates, CC sales growth at 8 pct vs estimate of 6.5-7 pct.
- Tilaknagar Industries – To acquire Imperial Blue at an EV of Rs. 41.50 bn.
- BEML – Bags order worth Rs. 2.94 bn from Ministry of Defence for supply of HMV 6X6.
Negative Read through
- IEX – CERC approves market coupling in day ahead market in a phased manner.
- Dr Reddy’s – North America sales fell 11 pct, expects flat-to-single digit US business growth in FY26.
- Supreme Petro – EBITDA declined 20.80 pct, margin at 8.28 pct vs 9.41 pct QoQ.
- Allcargo Logistics – June LCL volumes fell 3 pct, FCL volumes declined 4 pct MoM.
- Cigniti Technologies – EBIT flat QoQ, margin at 15.24 pct vs 15.31 pct QoQ.
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