Market Commentary
Global markets – US indices closed lower on Thursday as tech selloff continues. Dow Jones closed red by 1.7 pct. While Nasdaq closed lower by 0.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,457 | -1.7 | 11.5 |
| Nasdaq | 22,870 | -2.3 | 18.4 |
| Hang Seng | 26,768 | -1.1 | 33.4 |
| Nikkei | 50,434 | -1.7 | 26.4 |
Commodities – Gold prices rose steady and currently stood at USD 4,205 as softer dollar. On the other hand, oil prices stood at USD 64.20/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,205 | 0.8 |
| Silver ($) | 53.25 | 1.7 |
| Brent Crude ($) | 64.20 | 1.7 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,297 | 56,260 |
| 100 DMA | 25,146 | 56,196 |
| 200 DMA | 24,426 | 54,190 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading down by 1.1 pct. While Nikkei trading negative by 1.7 pct.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices closed flat as gains in metal stocks and upbeat earnings were offset by caution ahead of Bihar’s state election results.
Results Today – TMPV, NH, EMS, Siemens
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,487 | 0.0 | 8.1 |
| Nifty | 25,879 | 0.0 | 9.5 |
| Nifty Bank | 58,381 | 0.2 | 14.8 |
| Nifty Midcap 100 | 60,692 | -0.3 | 6.1 |
| Nifty Smallcap 100 | 18,183 | -0.4 | -3.1 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -383 | -265,866 |
| DII | 3,091 | 663,489 |
Stocks to watch
Positive Read through
- Coromandel Intl – MoU with APEDB for proposed investment of up to Rs. 20 bn.
- Pipe/Textile Cos – Government withdraws 14 BIS quality control order with immediate effect.
- Hero Moto – Steady Q2, margin at multi-quarter high of 15 pct.
- Zydus Life – US FDA closes inspection at oncology injectable manufacturing unit in Ahmedabad.
- Muthoot Fin – AUM in line with estimates, up 47 pct, NIM up 51 bps QoQ.
- Capacite Infra – EBITDA grew 13.6 pct, sales rose 25 pct YoY.
- GMR Airports – Posted profit vs loss, margin at 42 pct vs 38.5 pct YoY.
- Lupin – Launched risperidone injectable with 180-day CGT exclusivity in the US.
- NBCC – Gets order worth Rs. 3.4 bn for construction of Central University of Kashmir.
- Cesc – Arm gets Odisha government nod to set up manufacturing of solar cells; investment Rs. 45 bn.
- NSDL – Strong growth led by payments bank business, margin expanded 147 bps QoQ.
- Jubilant Food – EBITDA increased 19.5 pct, strong double-digit SSSG in Popeyes.
- Bharat Dynamics – EBITDA jumped 90 pct, bags Rs. 20.96 bn order from defence ministry.
Negative Read through
- Voltas – EBITDA fell 57 pct, margin at 3 pct vs 6.2 pct YoY.
- Tata Motors CV – Mixed Q2, earnings improve but market share fall continues.
- Sagility – Promoter likely to sell up to 16.4 pct stake via block deals, floor price at 8 pct discount to CMP.
- Tilaknagar Ind – EBITDA down 8.4 pct, margin at 15 pct vs 17.5 pct YoY.
- LG Elec – Reported weak Q2, flat sales growth both in Q2 and H1.
- Concord Bio – EBITDA tumbled 35.3 pct, margin at 35.8 pct vs 44 pct.
- PG Electro – Q2 EBITDA, margin below estimates, guidance maintained.
- TVS Supply Chain – EBITDA fell 9 pct, margin at 6.8 pct vs 7.6 pct YoY.
- Hikal – Reported loss vs profit, sales declined 29.7 pct YoY.
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