Market Commentary
Global markets – US indices extended gain on Friday over cooling inflation and solid earnings. Dow Jones closed green by 1.0 pct. While Nasdaq closed positive by 1.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,207 | 1.0 | 11.0 |
| Nasdaq | 23,204 | 1.1 | 20.0 |
| Hang Seng | 26,354 | 0.7 | 31.4 |
| Nikkei | 50,337 | 2.1 | 26.2 |
Commodities – Gold prices fell and currently stood at USD 4,070 amid progress on US – China trade. On the other hand, oil prices stood at USD 65.42/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,070 | -1.0 |
| Silver ($) | 48.15 | -1.0 |
| Brent Crude ($) | 65.42 | -0.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,035 | 55,465 |
| 100 DMA | 25,029 | 55,932 |
| 200 DMA | 24,269 | 53,608 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading up by 0.7 pct. While Nikkei trading positive by 2.1 pct.
Indian Indices – India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates. Benchmark Indices closed lower on Friday as investors opted cautious stance over India-U.S. trade.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,211 | -0.4 | 7.8 |
| Nifty | 25,795 | -0.4 | 9.1 |
| Nifty Bank | 57,699 | -0.7 | 13.4 |
| Nifty Midcap 100 | 59,231 | -0.8 | 3.6 |
| Nifty Smallcap 100 | 18,253 | -0.2 | -2.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 621 | -255,078 |
| DII | 173 | 611,904 |
Results Today – SRF, Bata
Stocks to watch
Positive Read through
- TCS – Refutes The Telegraph report on M&S as misleading.
- SBI Life – Q2 in line with estimates, new business premium up 27.5 pct YoY.
- RIL – Reliance Intelligence forms JV with Meta for enterprise intelligence in India.
- Waaree Energies – Bags 692 MW solar module orders.
- Bharat Rasayan – Announces 2:1 stock split, 1:1 bonus issue.
- Kotak Mah Bank – Q2 in line with estimates, asset quality stable, slippages lower.
- Coforge – Q2 above estimates, EBIT margin expanded 80 bps QoQ.
- Godrej Prop – RERA nod for Phase 1 of Godrej Trilogy, sales potential more than Rs. 100 bn.
- Hindalco – Novelis’ Oswego unit to start operations in Dec.
- Auro, Laurus – US FDA flags Hetero’s Vizag warehouse for quality oversight.
- Concor – Signs MoU with Adani Cement for multi-modal logistics.
- Hudco – MoU with JNPT for Rs. 50 bn infra project financing.
- PTC India – Receives purchase order from DRDO’s Gas Turbine Research unit.
- Epack Prefab – Receives Rs. 1.30 bn prefab factory order.
Negative Read through
- Railtel – Bihar Education Project Council cancels Rs. 2.10 bn order.
- SBI Card – Q2 below estimates, yield on loans down 52 bps QoQ.
- Supreme Petrochem – EBITDA down 59.6 pct, margin at 7 pct vs 7.7 pct YoY.
- Latent View – Margin and US business remain below guidance.
- Sigachi – Profit slipped 51 pct, sales tumbled 11.5 pct YoY.
- Cohance – US FDA classifies FDF unit as Official Action Indicated.
- TRIL – Transformer failure leads to client production loss.
- Zen Tech – EBITDA down 19 pct, sales declined 28.3 pct YoY.
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