Market Commentary
Global markets – US indices rebounded on Monday over easing US – China trade deal. Dow Jones closed up by 1.2 pct. While Nasdaq closed positive by 2.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,067 | 1.3 | 8.3 |
| Nasdaq | 22,694 | 2.2 | 17.5 |
| Hang Seng | 25,818 | -0.3 | 28.7 |
| Nikkei | 47,520 | -1.2 | 19.1 |
Commodities – Gold prices rose and currently stood at USD 4,149 over increased bets on US interest rate cuts. On the other hand, oil prices stood at USD 63.42/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,149 | 0.8 |
| Silver ($) | 52.84 | 0.8 |
| Brent Crude ($) | 63.42 | 0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,868 | 55,140 |
| 100 DMA | 24,961 | 55,769 |
| 200 DMA | 24,196 | 53,353 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading down by 0.3 pct. While Nikkei trading negative by 1.2 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices closed negative on Monday weighed by IT stocks and new global tariff threats.
Results Today – Persistent Limited, Tech Mahindra
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,327 | -0.2 | 5.4 |
| Nifty | 25,227 | -0.2 | 6.7 |
| Nifty Bank | 56,625 | 0.0 | 11.3 |
| Nifty Midcap 100 | 58,762 | 0.1 | 2.7 |
| Nifty Smallcap 100 | 18,101 | -0.2 | -3.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -240 | -255,288 |
| DII | 2,333 | 592,044 |
Stocks to watch
Positive Read through
- Banks & NBFCs – September CPI comes in at an 8-year low; rate cut likelihood rises.
- Oil India – Completes mechanical work of Numaligarh-Siliguri pipeline.
- RBL Bank – Emirates NBD in advanced talks to acquire majority stake, as per reports.
- Welspun Ent – Q2 above estimates; deal wins expanded 42 pct QoQ; advanced AI sales exceeds USD 100 mn.
- KEC International – Bags Rs 11.74 bn of T&D projects in India and West Asia.
- Anand Rathi – Q2 growth in line with guidance; EBITDA up 8 pct QoQ.
- Lodha – Acquires 100 pct stake in Chaitanya Bilva for Rs 5 bn.
- LT Foods – To acquire stake in Global Green International entities for € 6 mn and € 1.8 mn in earnouts.
- Landmark Cars – Q2 business update shows healthy growth; sales jumped 31 pct YoY.
- Oil India – To supply 1.4 mmscmd gas to NEEPCO gas power station in Assam for 15 years.
- Lloyds Eng – Expands partnership with FlyFocus via MoU for FPV drone system.
- JTL Industries – Gets NCLT approval for acquisition of RCI Industries.
- AB Realty – Sells stake in Unviable JV to RSWM for Rs. 540 mn.
Negative Read through
- Just Dial – Sales growth has been in single digit QoQ for 5 quarters, profit fell 22.5 pct QoQ.
- ONGC – Aims for 15 pct cost reduction in OPEX, CAPEX over 18 month due to drop in Crude price.
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