Market Commentary
Global markets – US indices extended gain on Tuesday ahead of Fed interest rate decision. Dow Jones closed green by 0.3 pct. While Nasdaq closed positive by 0.8 pct.
Commodities – Gold prices rose and currently stood at USD 3,962 ahead Fed interest rate decision. On the other hand, oil prices stood at USD 63.74/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,962 | 0.3 |
| Silver ($) | 47.46 | 0.9 |
| Brent Crude ($) | 63.74 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,091 | 55,588 |
| 100 DMA | 25,057 | 55,983 |
| 200 DMA | 24,292 | 53,689 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng closed down by 0.3 pct. While Nikkei trading positive by 2.1 pct.
Indian Indices – India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark Indices fell on Tuesday weighed down by losses in financials and IT stocks.
Results Today – LT, Varun Bev, Coal India, NTPC Green, BHEL
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,628 | -0.2 | 8.3 |
| Nifty | 25,936 | -0.1 | 9.7 |
| Nifty Bank | 58,214 | 0.2 | 14.5 |
| Nifty Midcap 100 | 59,765 | -0.0 | 4.5 |
| Nifty Smallcap 100 | 18,407 | 0.0 | -1.9 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 10339 | -244,794 |
| DII | 1081 | 615,477 |
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,706 | 0.3 | 12.1 |
| Nasdaq | 23,827 | 0.8 | 23.4 |
| Hang Seng | 26,346 | -0.3 | 31.3 |
| Nikkei | 51,249 | 2.1 | 28.5 |
Stocks to watch
Positive Read through
- Premier Energies – EBITDA rose 47 pct; margin at 30.53 pct vs 24.9 pct YoY.
- Tata Capital – Posted Q2 In-line, NII grew 17 pct; PPoP rose 12 pct YoY.
- Credit Access – NII increased by 5 pct; NIM expanded 50 bps.
- Happiest Minds – EBIT up 6.3 pct; sales grew 4.3 pct QoQ.
- DCM Shriram – EBITDA jumped 70.8 pct; margin at 9.4 pct vs 6.1 pct YoY.
- CAMS – All-time high quarterly sales up 6.4 pct; EBITDA rose 8.6 pct QoQ.
- Adani Green – EBITDA increased 17.4 pct; margin at 86.5 pct vs 73.8 pct YoY.
- Go Digit – Net earned premium up 10.4 pct; combined ratio fell 80 bps YoY.
- M&M Fin – Q2 above estimates; NIM expanded 23 bps QoQ; NII rose 23 pct YoY.
- Blue Dart – Margin at 16.3 pct vs 15 pct; EBITDA up 15.6 pct YoY.
Negative Read through
- AMCs – SEBI proposes lowering expense ratios and brokerage fees for mutual funds.
- Jindal Steel – Ex-forex gains Q2 missed estimates; weak realisations and higher costs weigh.
- Adani Total Gas – Margin at 18.7 pct vs 23.2 pct (YoY); EBITDA fell 3.5 pct YoY.
- Star Health – Posted operating loss versus profit YoY; combined ratio up 80 bps YoY.
- Shree Cement – Operating performance below estimates.
- Ideaforge – EBITDA fell 28.9 pct; profit declined 41.3 pct YoY.
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