Market Commentary
Global markets – US indices closed mixed on Wednesday ahead of likely end to government shutdown. Dow Jones closed green by 0.7 pct. While Nasdaq closed lower by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 48,254 | 0.7 | 13.4 |
| Nasdaq | 23,406 | -0.3 | 21.2 |
| Hang Seng | 26,846 | -0.3 | 33.8 |
| Nikkei | 51,166 | 0.2 | 28.3 |
Commodities – Gold prices rose steady and currently stood at USD 4,198 as dollar ticks up. On the other hand, oil prices stood at USD 62.65/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,198 | 0.1 |
| Silver ($) | 53.49 | 0.5 |
| Brent Crude ($) | 62.65 | -0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,272 | 56,171 |
| 100 DMA | 25,135 | 56,167 |
| 200 DMA | 24,413 | 54,141 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.3 pct. While Nikkei trading positive by 0.2 pct.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices continued their rally on Wednesday lifted by IT stocks on optimism over U.S. trade talks.
Results Today – Eicher Motors, LG Electronics, Hero MotoCorp, Voltas, BDL, PTC Industries, Ajax Engineering
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,466 | 0.7 | 8.1 |
| Nifty | 25,875 | 0.7 | 9.4 |
| Nifty Bank | 58,274 | 0.2 | 14.6 |
| Nifty Midcap 100 | 60,902 | 0.8 | 6.5 |
| Nifty Smallcap 100 | 18,250 | 0.8 | -2.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1750 | -265,482 |
| DII | 5127 | 660,397 |
Stocks to watch
Positive Read through
- M&M – Signed agreement for 50:50 life insurance joint venture with Manulife.
- Prestige Est – EBITDA jumped 44.2 pct, margin at 37.4 pct vs 27.4 pct YoY.
- Pfizer – EBITDA up 21.5 pct, margin at 35.8 pct vs 32.1 pct YoY.
- Biocon – Exploring merger of Biocon Biologics with Biocon.
- Endurance Tech – Posted steady Q2, sales rose 16 pct YoY.
- Lupin – US FDA issues establishment inspection report for Aurangabad facility.
- Phoenix Mills – To buy out CPPIB stake in arm for Rs. 2.76 bn.
- Nazara – Margin at highest level since Q3FY24, mobile gaming business sales climbed 81 pct.
- Supriya Life – Sales grew 20 pct, margin at 36.4 pct vs 35.6 pct YoY.
- Data Patterns – Reported profit increased 62 pct, EBITDA at Rs. 680 mn vs Rs. 343 mn YoY.
- Honasa – Posted EBITDA vs EBITDA loss, sales grew 16.5 pct YoY.
- Tata Steel – Q2 results led by India business, India EBITDA/tonne above estimates.
- Sansera Engg – EBITDA up 7.3 pct, sales rose 8 pct YoY.
- Entero Health – EBITDA jumped 46 pct, margin at 3.93 pct vs 3.26 pct YoY.
Negative Read through
- IGL – EBITDA down 13.6 pct, gross margins slipped 13 pct YoY and QoQ.
- Senco Gold – Posted muted sales growth, EBITDA and Profit jump on a low base.
- Cochin Shipyard – EBITDA declined 71 pct, margin down 1,197 bps YoY.
- IRCTC – Margin flat, muted ticketing sales growth YoY.
- Ather – NIIF II likely to sell up to 2.34 pct equity worth Rs. 5.5 bn via block deals, floor price Rs. 620/share.
- Lemon Tree – EBITDA flat, margin at 43 pct vs 46 pct YoY.
- SpiceJet – Q2FY26 loss expanded, sales down 13.4 pct YoY.
- Vedanta – NCLT reserves judgement, government opposes demerger.
- Cohance – EBITDA tumbled 41 pct, margin at 22 pct vs 34 pct YoY.
- Ircon – EBITDA fell 30 pct, margin at 7.2 pct vs 8.2 pct YoY.
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