Market Commentary
Global markets – US indices closed negative on Thursday as valuation, economic worries persist. Dow Jones closed red by 0.8 pct. While Nasdaq closed lower by 1.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,912 | -0.8 | 10.3 |
| Nasdaq | 23,053 | -1.9 | 19.4 |
| Hang Seng | 26,311 | -0.7 | 31.2 |
| Nikkei | 49,783 | -2.2 | 24.8 |
Commodities – Gold prices rose and currently stood at USD 3,990 on softer dollar. On the other hand, oil prices stood at USD 63.68/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,990 | 0.3 |
| Silver ($) | 48.24 | 0.4 |
| Brent Crude ($) | 63.68 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,178 | 55,820 |
| 100 DMA | 25,096 | 56,061 |
| 200 DMA | 24,352 | 53,915 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading down by 0.7 pct. While Nikkei trading negative by 2.2 pct.
Indian Indices – India’s equity benchmarks are likely to open red as GIFT Nifty indicates. Benchmark Indices continued losses on Thursday due lack of major triggers and weaker metals.
Results Today – Bajaj Auto, Divis, Hindalco, Trent, Shakti Pumps, Wabag.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 83,311 | -0.2 | 6.6 |
| Nifty | 25,509 | -0.3 | 7.9 |
| Nifty Bank | 57,554 | -0.5 | 13.2 |
| Nifty Midcap 100 | 59,468 | -0.9 | 4.0 |
| Nifty Smallcap 100 | 18,105 | -1.4 | -3.5 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1067 | -260,132 |
| DII | 1202 | 635,317 |
Stocks to watch
Positive Read through
- Apollo Hosp – EBITDA up 15.4 pct, profit grew 25 pct YoY.
- Cummins – Strong sales growth led by domestic and export business.
- Infosys – Develops AI agent, fixes Nov 14 as record date for Rs. 180 bn buyback.
- Adani Ent – Arm signs SPA to divest stake in PT Adani Global (Indonesia) for USD 125 mn.
- Bharti Airtel – Singtel likely to sell 0.8 pct stake via block deal, floor price Rs. 2,030 per share.
- NBCC – Signs MoU with Goldfields Commercials for real estate projects in Australia.
- TVS Motor – Inks agreement to sell stake in Rapido for Rs. 2.88 bn.
- Bajaj Housing – Stable quarter, concall commentary a bit cautious.
- Kirloskar Ferrous – EBITDA rose 11 pct, margin at 12.3 pct vs 11.6 pct YoY.
- Lupin – Q2 above estimates, US sales at USD 315 mn vs USD 282 mn QoQ.
- Aster DM – EBITDA increased 14 pct, sales rose 10 pct YoY.
- Sai Life – EBITDA jumped 42 pct, margin at 27 pct vs 26 pct YoY.
- Indigo Paints – EBITDA up 11.7 pct, profit increased 10.8 pct YoY.
- LIC – Q2 above estimates, new business premium up 9 pct YoY.
Negative Read through
- Amara Raja – EBITDA down 13.6 pct, margin at 10.8 pct vs 13.3 pct YoY.
- Amber Ent – Q2 misses estimates, posted loss vs profit YoY.
- ABB – Q3 margin at 15 pct vs 18.55 pct, order inflow down 3 pct YoY.
- JM Financial – Sales down 7 pct, EBITDA down 29 pct QoQ.
- Crompton – EBITDA down 22.6 pct, margin at 8.2 pct vs 10.7 pct YoY.
- Suryodaya SFB – NII fell 14 pct, profit declined 33 pct YoY.
- Akzo Nobel – EBITDA down 24.8 pct, margin at 13.2 pct Vs 15 pct YoY.
- Bliss GVS – EBITDA decreased 20 pct, margin at 13 pct Vs 18.3 pct YoY.
- Mankind Pharma – Profit dropped 21.7 pct, margin at 24.9 pct Vs 27.7 pct YoY.
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