Market Commentary
Global markets – US indices closed mixed on Wednesday after Fed Officials highlights economic uncertainty. Dow Jones slipped by 0.2 pct. While Nasdaq grew by 0.7 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,051 | -0.2 | -1.2 |
| Nasdaq | 19,146 | 0.7 | -0.8 |
| Hang Seng | 23,661 | 0.1 | 18.0 |
| Nikkei | 37,705 | -1.1 | -5.5 |
Commodities – Gold prices dropped and currently trading at USD 3,150 over profit booking. On the other hand, oil prices fell and stood at USD 64.38/bbl over expectation of US-Iran nuclear deal.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,150 | -0.8 |
| Silver ($) | 31.91 | -1.0 |
| Brent Crude ($) | 64.38 | -2.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,371 | 51,727 |
| 100 DMA | 23,384 | 50,763 |
| 200 DMA | 24,047 | 51,232 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading positive by 0.1 pct. While Nikkei trading lower by 1.1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices recovered on Wednesday led by Tech and metal stocks over easing US inflation and weak dollar.
Result Today – Cochin Shipyards, ITC Hotels, Abbott India.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,330 | 0.2 | 4.1 |
| Nifty | 24,666 | 0.4 | 4.3 |
| Nifty Bank | 54,801 | -0.3 | 7.7 |
| Nifty Midcap 100 | 56,136 | 1.1 | -1.9 |
| Nifty Smallcap 100 | 17,147 | 1.4 | -8.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 931 | -132,055 |
| DII | 316 | 237,037 |
Stocks to watch
Positive Read through
- Tata Power – Posted Q4 largely in-line with estimates, margin at 19 pct vs 14.7 pct YoY.
- WIPRO – Order from Hachette UK to drive digital transformation with SAP S/4HANA.
- TCI – EBITDA grew 11.1 pct, profit increased 11.8 pct YoY.
- HUL – No Adverse Observations letters from NSE & BSE for Kwality Wall’s demerger.
- Lupin – Margin at 21.9 pct vs 20.1 pct, EBITDA grew 22.5 pct YoY.
- Eicher Motors – Q4 earnings largely in-line, volumes up 4 pct QoQ and 24 pct YoY.
- Vascon Engg – Margin at 9.7 pct vs 8.6 pct, EBITDA rose 87.5 pct YoY.
- JB Chemicals – EBITDA up 14.5 pct, sales rose 10.2 pct YoY.
- Jubilant Food – Reported Q4 above estimates, Dominos like-for-like growth at 12.1 pct YoY.
- LE Travenues – EBITDA jumped 53.1 pct, sales rose 72.2 pct YoY.
- Muthoot Fin – NIM at 7.3 pct vs 7.0 pct, AUM grows at 11.4 pct QoQ.
- Tilaknagar Ind – EBITDA up 62.5 pct, margin at 19.3 pct vs 13.5 pct YoY.
- Brigade Ent – Q4 pre-sales value up 9 pct, buys land in Chennai with GDV of Rs. 16 bn.
- Hitachi Energy – Margin at 12.6 pct vs 10.7 pct, EBITDA up 31 pct YoY.
Negative Read through
- Shilpa Medi – US FDA classifies Shilpa Pharma’s Unit-1 as VAI, issues EIR.
- Apollo Tyres – Q4 a minor miss, both APMEA and Europe businesses see margin decline.
- Akzo Nobel – EBITDA fell 1.5 pct, margin at 15.6 pct vs 16.6 pct YoY.
- Karnataka Bank – NII fell 6.4 pct, profit declined 8 pct YoY.
- Dollar Ind – Margin at 10.4 pct vs 11.5 pct, profit shrank 11 pct YoY.
- Torrent Power – Muted Q4, operational numbers miss consensus estimates.
- Wendt India – Up to 37.5 pct stake sale via OFS by parent company, price at 38 pct discount to CMP.
- Sheela Foam – EBITDA fell 59.1 pct, margin at 3.9 pct vs 9.5 pct YoY.
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