Market Commentary
Global markets – US indices closed Negative on Tuesday over tariff war. Dow Jones closed red by 0.1 pct. While Nasdaq closed lower by 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,111 | -0.1 | 3.7 |
| Nasdaq | 20,916 | -0.7 | 8.3 |
| Hang Seng | 24,889 | -0.1 | 24.1 |
| Nikkei | 40,802 | 0.6 | 2.3 |
Commodities – Gold prices remain muted and currently stood at USD 3,376. On the other hand, oil prices stood at USD 67.69/bbl, led by supply distribution concern.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,376 | -0.1 |
| Silver ($) | 37.83 | 0.1 |
| Brent Crude ($) | 67.99 | 0.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,052 | 56,424 |
| 100 DMA | 24,431 | 54,690 |
| 200 DMA | 24,047 | 52,625 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.1 pct. 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 lower on Tuesday on Trump’s renewed tariff threats over Russian oil purchases.
Result Today – Trent, Hero MotoCorp, Bharat Forge, Bajaj Auto
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,710 | -0.4 | 3.3 |
| Nifty | 24,649 | -0.3 | 4.3 |
| Nifty Bank | 55,360 | -0.5 | 8.8 |
| Nifty Midcap 100 | 57,206 | -0.4 | 0.0 |
| Nifty Smallcap 100 | 17,864 | -0.2 | -4.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2383 | -178,585 |
| DII | 2788 | 429,173 |
Stocks to watch
Positive Read through
- Gland Pharma – Posted Q1 better than estimates, Europe business sales up 29 pct YoY.
- Bharti Airtel – Q1 largely in-line, India mobile business sales up 2.9 pct QoQ.
- Sheela Foam – EBITDA grew 27.5 pct, margin at 9.16 pct vs 7.28 pct YoY.
- Astra Micro – Bagged order worth Rs. 1.35 bn from DRDO.
- Defence Cos – Defence acquisition council clears proposals worth Rs. 670 bn.
- IRCTC – RBI nod for IRCTC payments to act as an online payment aggregator.
- Lupin – US sales above estimate, rose 22 pct YoY, margin at 27.60 pct vs 22 pct YoY.
- Concor – EXIM business sales up 6 pct, consolidated profit rose 3 pct YoY.
- HG Infra – Gets LoA for integrated material handling facility at naval dockyard in Mumbai.
- PB Fintech – Company has acquired Pensionbazaar.com, as per reports.
Negative Read through
- Gujarat Gas – Volumes fell 19 pct, sales declines 5.50 pct QoQ.
- Bharti Hexacom – Reported muted Q1, EBITDA down 2.50 pct QoQ.
- Britannia – Gross margin slipped 310 bps, volume growth at 2 pct vs poll of 4-5 pct.
- Godawari Power – EBITDA fell 21 pct, margin at 25.7 pct vs 31.8 pct YoY.
- Automotive Axles – EBITDA dropped 2.6 pct, margin flat YoY.
- Torrent Power – Posted muted Q1, margin at 18.70 pct vs 20.60 pct YoY.
- NCC – EBITDA fell 4.30 pct, profit declined 8.4 pct YoY.
- Updater – EBITDA down 4 pct, margin at 5.60 pct vs 6.26 pct YoY.
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