Market Commentary
Global markets – US indices closed lower on Monday ahead of inflation data. Dow Jones closed red by 0.5 pct. While Nasdaq closed down by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 43,975 | -0.5 | 3.4 |
| Nasdaq | 21,385 | -0.3 | 10.7 |
| Hang Seng | 24,830 | -0.3 | 23.8 |
| Nikkei | 42,849 | 2.5 | 7.4 |
Commodities – Gold prices rose and currently stood at USD 3,354 ahead of US CPI data. On the other hand, oil prices stood at USD 66.77/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,354 | 0.4 |
| Silver ($) | 37.82 | 0.7 |
| Brent Crude ($) | 66.77 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,023 | 56,399 |
| 100 DMA | 24,514 | 54,980 |
| 200 DMA | 24,043 | 52,699 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.3 pct. While Nikkei trading green by 2.5 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices rebounded on Monday ahead of US – Russia talks.
Result Today – HAL, Apollo hospitals, PI Industries, Cochin Shipyard, BDL, Wabag, EMS
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,604 | 0.9 | 3.2 |
| Nifty | 24,585 | 0.9 | 4.0 |
| Nifty Bank | 55,510 | 0.9 | 9.1 |
| Nifty Midcap 100 | 56,479 | 0.9 | -1.3 |
| Nifty Smallcap 100 | 17,491 | 0.4 | -6.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1202 | -187,851 |
| DII | 5972 | 460,510 |
Stocks to watch
Positive Read through
- Pfizer – Launched 20-valent pneumococcal polysaccharide conjugate vaccine for adults in India.
- Indian Hotels – To acquire 51 pct in entities with midscale Clarks Hotels for up to Rs. 2.04 bn.
- Dollar Industries – EBITDA up 19.50 pct, profit jumped 39 pct YoY.
- Shilpa Medi – Margin at 13.3 pct vs 12.5 pct YoY, EBITDA up 9 pct YoY.
- Som Distilleries – Launches Brigade Cherry Blossom project in East Bengaluru, sales potential Rs. 2.25 bn.
- Ashoka Buildcon – Standalone EBITDA grew 4 pct, margin at 11.30 pct vs 7.60 pct YoY.
- Sansera Engg – EBITDA up 4 pct, profit rose 25.50 pct YoY.
- Tilaknagar – Margin at multi-year high, EBITDA up 89 pct YoY.
- Man Ind – EBITDA grew 28 pct, margin at 6.6 pct vs 5.1 pct YoY.
- Inox Green – Signs agreement for comprehensive O&M of 182 MW of wind projects.
- AWFIS Space – EBITDA jumped 60.50 pct, margin at 37.80 pct vs 30.60 pct YoY.
- Krsnaa Diagnostics – EBITDA increased 21 pct, margin at 26.4 pct vs 24.8 pct YoY.
- APEX FROZEN – EBITDA grew 43 pct, sales increased 40 pct YoY.
Negative Read through
- Astral – Margins declined 191 bps, EBITDA fell 14 pct YoY.
- DRL/Aurobindo – USFDA nod for generic sucrose iron, a lost opportunity.
- Hindalco – Novelis EBITDA/tonne below estimates, adjusted EBITDA fell 17 pct YoY.
- Titagarh Rail – Lower sales growth dragged by freight railway segment.
- Medi Assist – Bessemer likely to sell entire 15.70 pct stake via block deals, floor price at 4 pct discount to CMP.
- Bata – Sales fell 0.30 pct, EBITDA aided by lower other expenses.
- Cello World – EBITDA fell 6 pct, margin at 24 pct vs 27 pct YoY.
- Praj Ind – EBITDA declined 66 pct, margin at 4.90 pct vs 13.20 pct YoY.
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