Market Commentary
Global markets – US indices closed higher on Friday after Trump comments on China, indicating unsustainable tariffs. Dow Jones closed green by 0.5 pct. While Nasdaq closed positive by 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,190 | 0.5 | 8.6 |
| Nasdaq | 25,709 | 0.5 | 17.4 |
| Hang Seng | 25,853 | 2.4 | 28.9 |
| Nikkei | 48,970 | 2.9 | 22.8 |
Commodities – Gold prices remain steady and currently stood at USD 4,256 over easing tariff concern. On the other hand, oil prices stood at USD 61.09/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,256 | 0.1 |
| Silver ($) | 52.14 | 0.6 |
| Brent Crude ($) | 61.09 | -0.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,929 | 55,257 |
| 100 DMA | 24,986 | 55,840 |
| 200 DMA | 24,230 | 53,471 |
Asian markets – Asian markets trading higher in the early morning trade. Largely following western markets Hang Seng trading up by 2.4 pct. While Nikkei trading positive by 2.9 pct.
Indian Indices – India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates. Benchmark Indices continued rally on Friday as optimism over earnings rebound and growing expectations of a December rate cut buoyed sentiment.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 83,952 | 0.6 | 6.8 |
| Nifty | 25,709 | 0.5 | 8.2 |
| Nifty Bank | 57,713 | 0.5 | 12.9 |
| Nifty Midcap 100 | 58,902 | -0.6 | 3.6 |
| Nifty Smallcap 100 | 18,122 | 0.0 | -3.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 308 | -255,421 |
| DII | 1526 | 605,958 |
Stocks to watch
Positive Read through
- Reliance – Posted strong Q2 led by Retail arm, margin expanded 110 bps YoY.
- Yes Bank – NII grew 5 pct YoY, in line with estimates, PPoP rose 33 pct YoY.
- Genesys – Awarded business contract by Tata Motors Passenger Vehicles for Native Navigation and Adas Maps.
- MAZDOCK – Signs an exclusive MoU with Naval Group, France to offer evolved Scorpene submarines to a friendly country.
- ICICI Bank – NII came at Rs. 215.28 bn vs poll of Rs. 212.84 bn, Profit at Rs. 123.59 bn Vs Rs. 119.33 bn.
- HDFC Bank – NII came at Rs. 315.51 bn vs poll of Rs. 312.98 bn, Profit at Rs. 186.41 bn vs Rs. 172.52 bn.
- Havells – Sales stood at Rs. 47.66 bn vs 45.33 bn YoY, Profit at Rs. 3.17 bn vs Rs. 2.72 bn.
- Dixon Tech – Sales came at Rs. 148.55 bn vs 115.34 bn YoY, Profit at Rs. 6.70 bn vs Rs. 3.90 bn.
- Manorama – Profit at Rs. 549 mn vs Rs. 267 mn, sales grew to Rs. 3.23 bn vs 1.95 bn YoY .
- JSW Energy – Sales grew to Rs. 51.77 bn vs 32.38 bn, EBITDA rose at Rs. 29.96 bn vs Rs. 16.85 bn.
- IRCON Intl – Received an order worth Rs. 3.60 bn from Petronet LNG for civil works in Gujarat.
- NTPC Green – Started commercial operations of 95.75 Mw Capacity from Khavda-I Solar PV Project.
- Sterling and Wilson Renewable – Bagged Rs. 17.72 bn in new solar EPC orders.
Negative Read through
- Indiamart – Profit declined 40 pct, margin at 33.2 pct vs 38.7 pct YoY.
- Tejas Networks – Disappointing quarter, third loss-making quarter in a row.
- SML Isuzu – Profit fell 4 pct, EBITDA down 7 pct, margin slipped 60 bps YoY.
- Indusind Bank – Weak Q2, loss of Rs. 4.37 bn vs estimate of Rs. 3 bn profit.
- Ultratech – Sales higher than estimate, margin missed by 110 bps, volumes up 22 pct YoY.
- UTI Amc – Sales in-line with estimate, market share loss across segments.
- OFSS – Sales down more than 3 pct, margin down 330 bps QoQ.
- Jana SFB – FY26 RoA guidance reduced to 1.1 – 1.5 pct vs 1.6 – 2 pct earlier.
- RPG Life – Sales grew 6 pct, margin at 21.5 pct vs 26.5 pct YoY.
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