Market Commentary
Global markets – US indices closed mixed on Tuesday with Nvidia and other AI related companies falling on renewed concerns about elevated valuations. Dow Jones closed green by 1.8 pct. While Nasdaq closed lower by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,927 | 1.2 | 12.7 |
| Nasdaq | 23,468 | -0.3 | 21.5 |
| Hang Seng | 26,844 | 0.6 | 33.8 |
| Nikkei | 50,927 | 0.2 | 27.7 |
Commodities – Gold prices remain steady and currently stood at USD 4,120 on softer dollar. On the other hand, oil prices stood at USD 64.99/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,120 | -0.1 |
| Silver ($) | 51.12 | -0.2 |
| Brent Crude ($) | 64.99 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,243 | 56,080 |
| 100 DMA | 25,124 | 56,144 |
| 200 DMA | 24,398 | 54,093 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading up by 0.6 pct. While Nikkei trading positive by 0.2 pct.
Indian Indices – India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates. Benchmark Indices extended rally on Tuesday as optimism around a potential U.S.-India trade deal and steps toward the U.S. government reopening boosted investor sentiments.
Results Today – HAL, Asian Paints, Ashok Leyland, Cochin Shipyard
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 83,871 | 0.4 | 7.3 |
| Nifty | 25,694 | 0.5 | 8.7 |
| Nifty Bank | 58,138 | 0.3 | 14.3 |
| Nifty Midcap 100 | 60,427 | 0.5 | 5.6 |
| Nifty Smallcap 100 | 18,101 | -0.2 | -3.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -803 | -263,732 |
| DII | 2188 | 655,270 |
Stocks to watch
Positive Read through
- BSE – Turnover data remains strong despite a change in expiry day, sales up 11.5 pct QoQ.
- Bharat Forge – Arm bags Rs. 2.50 bn order for supplying unmanned underwater systems.
- Gujarat Fluoro – EBITDA grew 23.4 pct, margin at 30 pct vs 24.8 pct YoY.
- Waaree Energies – Gets order for supply of 360 MW of solar modules.
- Bikaji Foods – EBITDA rose 25.6 pct, margin at 13.8 pct vs 12.7 pct YoY.
- Max Fin – Q2 above estimates, VNB increased 25 pct, total APE up 16 pct YoY.
- Kirloskar Oil – EBITDA up 28.5 pct, sales grew 30 pct YoY.
- Zaggle Prepaid – Sales jumped 43 pct, profit climbed 73 pct YoY.
- Awfis Space – EBITDA up 32.7 pct, margin at 36 pct vs 34.1 pct YoY.
- Transrail Lighting – EBITDA grew 33 pct, profit jumped 65 pct YoY.
- Torrent Power – EBITDA increased 25 pct, margin at 19 pct vs 17 pct YoY.
- Fortis Health – EBITDA up 28 pct, margin at 24 pct vs 22.6 pct YoY.
- Biocon – Posted Q2 above estimates, EBITDA up 22 pct YoY.
- Paras Defence – Bags defence orders worth Rs. 400 mn.
Negative Read through
- PI Industries – EBITDA down 13 pct, sales declined 16 pct YoY.
- Gokaldas Exports – EBITDA fell 7 pct, margin at 6.6 pct vs 7.5 pct YoY.
- Thermax – Q2 misses estimates, EBITDA dropped 38 pct YoY.
- Tata Power – Reported muted Q2, EBITDA down 12 pct YoY.
- Kolte Patil – Posted EBITDA loss vs EBITDA, group CEO resigns.
- Concor – Margin at 24.5 pct vs 25.5 pct YoY, EBITDA flat YoY.
- Emcure Ph – Novo Nordisk cuts Wegovy price by up to 37 pct in India, as per reports.
- EIH – EBITDA fell 12 pct, margin at 25.8 pct vs 29.6 pct YoY.
- ESAF SFB – GNPA at 8.54 pct vs 7.48 pct QoQ, NII down 32.5 pct YoY.
- RVNL – EBITDA fell 20.6 pct, margin at 4.2 pct vs 5.6 pct YoY.
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