Market Commentary
Global markets – US indices closed lower on Thursday amid weakness in financial stocks. Dow Jones closed red by 0.7 pct. While Nasdaq closed negative by 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 45,952 | -0.7 | 8.0 |
| Nasdaq | 22,562 | -0.5 | 16.8 |
| Hang Seng | 25,534 | -1.4 | 27.3 |
| Nikkei | 47,827 | -0.9 | 19.9 |
Commodities – Gold prices rose and currently stood at USD 4,345 due to rise in safe haven commodity demand. On the other hand, oil prices stood at USD 60.88/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,345 | 0.4 |
| Silver ($) | 54.03 | -0.2 |
| Brent Crude ($) | 60.88 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,908 | 55,209 |
| 100 DMA | 24,977 | 55,816 |
| 200 DMA | 24,219 | 53,437 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading down by 1.4 pct. While Nikkei trading negative by 0.9 pct.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices closed extended rally on Thursday FMCG, Auto and Bank. while rate-sensitive sectors rallied on growing expectations of a rate cut.
Results Today – Reliance, Polycab, Dixon Tech, Havells, Tata Tech
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 83,467 | 1.0 | 6.8 |
| Nifty | 25,585 | 1.0 | 8.2 |
| Nifty Bank | 57,422 | 1.1 | 12.9 |
| Nifty Midcap 100 | 59,241 | 0.5 | 3.6 |
| Nifty Smallcap 100 | 18,131 | 0.2 | -3.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 997 | -255,730 |
| DII | 4076 | 604,432 |
Stocks to watch
Positive Read through
- Vikram Solar – Sales jumped 94 pct, margin at 21.6 pct vs 12.6 pct YoY.
- Waaree Energies – Sales rose 70 pct, maintains FY26 EBITDA guidance of Rs. 55 – 60 bn.
- Jio Fin – Sales grew 42 pct, PPoP up 5 pct, Jio credit AUM at Rs. 147.12 bn.
- Biocon – Biologics arm expands collaboration with Civica, includes insulin glargine.
- Metro brands – Sales increased 11 pct, margin holds above 26 pct.
- BEML – Collaborates with Kineco for manufacturing of aerospace and defence applications.
- Cyient – DET services sales up 0.5 pct QoQ, company expects higher H2 margin vs H1.
- LTIMindtree – Constant currency sales growth at 2.4 pct, margin at 15.9 pct vs estimate of 15 pct.
- Sunteck Realty – Q2 pre-sales rose 34 pct, collections up 24 pct YoY.
- Kalpataru Ltd – Q2 pre-sales up 19 pct, collections up 37 pct YoY.
- Auto Ancillaries – US auto tariff relief may come soon as Friday, as per reports.
- CIE Auto – EBITDA grew 8 pct, margin at 15 pct YoY, Profit jumped 10 pct.
Negative Read through
- Infosys – Q2 sales higher than estimates, margin missed, CC sales up 2 pct, EBIT at 21 pct.
- Zee Ent – Adjusted profit declined 65 pct, margin slipped 800 bps, ad sales tumbled 11 pct YoY.
- Wipro – Q2 in line, CC sales growth at 0.3 pct Vs Guidance of -1 pct to 1 pct.
- JSW Infra – Sales rose 26 pct, margin at 48.2 pct vs 52 pct YoY.
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