Market Commentary
Global markets – US indices closed positive on Wednesday supported by expectations of rate cuts. Dow Jones closed green by 1.0 pct. While Nasdaq closed higher by 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,922 | 1.0 | 5.6 |
| Nasdaq | 21,713 | 0.1 | 12.4 |
| Hang Seng | 25,670 | 1.3 | 28.0 |
| Nikkei | 42,726 | -1.3 | 7.1 |
Commodities – Gold prices remain steady and currently stood at USD 3,360 amid Fed rate cut hopes. On the other hand, oil prices stood at USD 65.90/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,360 | 0.1 |
| Silver ($) | 38.60 | 0.3 |
| Brent Crude ($) | 65.90 | 0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,022 | 56,389 |
| 100 DMA | 24,530 | 55,038 |
| 200 DMA | 24,043 | 52,718 |
Asian markets – Asian markets trading mixed in the early morning trade, Hang Seng trading up by 1.3 pct. While Nikkei trading red by 1.3 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices rebounded on Wednesday following US inflation data that boosted rate cut hopes.
Result Today – Ashok Leyland, Vodafone Idea
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,539 | 0.4 | 3.1 |
| Nifty | 24,619 | 0.5 | 4.1 |
| Nifty Bank | 55,181 | 0.3 | 8.5 |
| Nifty Midcap 100 | 56,681 | 0.6 | -0.9 |
| Nifty Smallcap 100 | 17,613 | 0.7 | -6.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3,644 | -194,894 |
| DII | 5,623 | 469,641 |
Stocks to watch
Positive Read through
- IRCTC – EBITDA rose 6 pct, margin at 34.30 pct vs 33.50 pct YoY.
- ICICI Bank – Revises minimum account balance for new accounts to Rs. 15,000 from Rs. 50,000.
- BPCL – Posted Q1 above estimate, margin at 8.60 pct vs 6.90 pct QoQ.
- Muthoot Fin – Q1 above estimate on all fronts, AUM jumped 42 pct YoY.
- Endurance Tech – EBITDA grew 19 pct, margin at 13.40 pct vs 13.20 pct YoY.
- Infosys – Announces 75:25 JV in Australia with Telstra.
- USL – P&A volumes up 9 pct vs expected 5-6 pct growth, largely in line with estimate.
- ITI – Losses contract, to launch AI-powered road safety pilot in Uttar Pradesh.
- Engineers India – EBITDA and sales increased 40 pct YoY.
- Jubilant Food – Reported Q1 in line with estimate, Dominos India LFL growth at 11.6 pct YoY.
- Jain Irrigation – Bags Rs. 1.35 bn order for 5,438 solar pumps under in Maharashtra.
- Vishal Megamart – EBITDA up 26 pct, sales rose 21 pct YoY.
Negative Read through
- Deepak Nitrite – EBITDA fell 39 pct, margin at 10 pct vs 14.20 pct YoY.
- Campus Active – EBITDA slipped 6 pct, margin at 14.30 pct vs 15.34 pct YoY.
- HG Infra – EBITDA dropped 17.50 pct, margin at 17.5 pct vs 20.6 pct YoY.
- Zydus Life – US FDA issues 4 observations for manufacturing unit at Baddi in Himachal Pradesh.
- Shalby – EBITDA declined 8 pct, margin at 14 pct vs 16 pct YoY.
- Man Infra – EBITDA tumbled 51 pct, margin at 22.2 pct vs 24.4 pct YoY.
- Somany Ceramics – EBITDA, margin flat, profit fell 15.50 pct YoY.
- AB Fashion – Loss expands, like-to-like growth for Pantaloons flat YoY.
- Dredging Corp – EBITDA declined 38 pct, sales dropped 48 pct YoY.
- Texmaco Rail – EBITDA fell 33.50 pct, margin at 7.8 pct vs 9.8 pct YoY.
- Galaxy Surfactants – Margin at 9.66 pct vs 12.74 pct, EBITDA flat YoY.
- MTNL – Loss expands, sales at Rs. 657 mn vs Rs. 1,838 mn YoY.
Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Advisor before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
Negative Read through
