Market Commentary
Global markets – US indices closed Positive on Monday over potential September rate cuts in the wake of Weaker jobs data. Dow Jones closed green by 1.3 pct. While Nasdaq jumped 2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,173 | 1.3 | 3.8 |
| Nasdaq | 21,053 | 2.0 | 9.0 |
| Hang Seng | 24,737 | 0.0 | 23.3 |
| Nikkei | 40,544 | 0.6 | 1.6 |
Commodities – Gold prices remain steady and currently stood at USD 3,373 Fed rate cut bets. On the other hand, oil prices stood at USD 68.54/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,373 | 0.0 |
| Silver ($) | 37.42 | 0.1 |
| Brent Crude ($) | 68.54 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,051 | 56,423 |
| 100 DMA | 24,388 | 54,547 |
| 200 DMA | 24,050 | 52,589 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading flat. While Nikkei trading green by 0.6 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices closed positive on Monday led by rally in metals and IT, as hopes of potential US rate cuts.
Result Today – Bharti Airtel, Britannia, Lupin
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,018 | 0.5 | 3.7 |
| Nifty | 24,722 | 0.6 | 4.6 |
| Nifty Bank | 55,619 | 0.0 | 9.4 |
| Nifty Midcap 100 | 57,432 | 1.4 | -0.4 |
| Nifty Smallcap 100 | 17,893 | 1.3 | -4.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2566 | -176,201 |
| DII | 4386 | 426,384 |
Stocks to watch
Positive Read through
- Tata Motors – Appointed PB Balaji, current CFO of Tata Motors, as CEO of JLR.
- Azad Engineering – EBITDA jumped 50 pct, margin at 36 pct vs 33 pct YoY.
- Bosch – Q1 mobility business sales rose 14 pct, EBITDA up 22 pct YoY.
- USL – Q1 total sales value grew 9.4 pct YoY, P&A sales value up 9 pct YoY.
- Amber Enterprises – Gets NCLT nod for scheme of amalgamation.
- Angel One – Gross client acquisition increased 17 pct, client base rose 1.8 pct MoM.
- JSW Energy – Acquires KSK Water Infra as per settlement plan for Rs. 9.62 bn.
- Asian Paints – Extends JV agreement with US-based PPG Group for 15 years.
- Sona BLW – Q1 in-line with estimates, BEV sales set to improve ahead.
- Kaynes – Signed MoU with TN govt to establish manufacturing units, investment at Rs. 49.95 bn.
- BEML – Signed non-binding MoU with TuTr Hyperloop for high-speed mobility solutions.
- Inox India – EBITDA grew 9 pct, profit increased 16 pct YoY.
- AB Capital – On track to achieve RoA of 2–2.2 pct for next 8 quarters, margin should improve.
- Siemens Energy – Q3 sales rose 20 pct, margin at 19 pct vs 14 pct YoY.
Negative Read through
- Paytm – Antfin likely to sell entire 5.84 pct stake via block deals, Floor price at 6 pct discount to CMP.
- Triveni Turbine – EBITDA fell 22 pct, sales declined 20 pct YoY.
- OneSource – EBITDA dropped 52 pct, margin at 27 pct vs 43 pct QoQ.
- Aurobindo – Margin at 20.4 pct vs 21.4 pct, US business sales declined 13 pct QoQ
- Kansai Nerolac – EBITDA fell 8 pct, margin at 14 pct vs 15.5 pct YoY.
- Delta Corp – EBITDA tumbled 16 pct, margin at 21.4 pct vs 26.6 pct YoY.
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