Market Commentary
Global markets – US indices closed mixed on Wednesday over ongoing US – China trade war. Dow Jones closed flat. While Nasdaq closed positive by 0.7 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,253 | 0.0 | 8.7 |
| Nasdaq | 22,670 | 0.7 | 17.4 |
| Hang Seng | 25,903 | 0.0 | 29.1 |
| Nikkei | 48,088 | 0.9 | 20.5 |
Commodities – Gold prices rose and currently stood at USD 4,240 due to rise in safe haven commodity demand. On the other hand, oil prices stood at USD 62.35/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,240 | 0.8 |
| Silver ($) | 53.20 | 0.3 |
| Brent Crude ($) | 62.35 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,875 | 55,150 |
| 100 DMA | 24,966 | 55,784 |
| 200 DMA | 24,203 | 53,379 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading flat. While Nikkei trading positive by 0.9 pct.
Indian Indices – India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark Indices closed rebounded on Wednesday due to positive Q2 earnings and foreign inflows.
Results Today – Infosys, Wipro, Eternal, Waaree Energies
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,605 | 0.7 | 5.7 |
| Nifty | 25,323 | 0.7 | 7.1 |
| Nifty Bank | 56,799 | 0.5 | 11.7 |
| Nifty Midcap 100 | 58,970 | 1.1 | 3.1 |
| Nifty Smallcap 100 | 18,080 | 0.8 | -3.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 4650 | -256,727 |
| DII | 68 | 600,356 |
Stocks to watch
Positive Read through
- KEI Ind – Q2 largely in-line with estimates, cables & wires business sales grew 23 pct YoY.
- MTAR Tech – Bags Rs. 670 mn order from an existing customer.
- Hero Moto – Forms distribution partnership with Noria Motos to enter Spain market.
- BEL – Bags order worth Rs. 5.92 bn since last disclosure.
- RBL Bank – Board to meet on October 18 to consider private placement for fund raise.
- TVS – Forays into adventure rally tourer segment, launches Apache RTX starting at Rs. 1.99 lakh.
- Rain Ind – Arm partners with Green Graphite Tech to develop sustainable battery material solutions.
- KEC Intl – Bags order worth Rs. 10.38 bn in international T&D business.
- Axis Bank – Operationally strong quarter, one-off for yet another quarter impacted Profit.
- Kaynes Tech – Semicon arm delivers first IPM5 multi-chip modules from Sanand to AOS.
- Rossari – EBITDA rose 9 pct, sales increased 17.6 pct YoY.
- MRPL – Margin at 6.5 pct vs 3.5 pct, posted profit vs loss QoQ.
- L&T Fin – NIM above estimates, expanded 18 bps QoQ, NII rose 8 pct YoY.
- HdDFC Life – Q2 largely in-line with estimates, total APE up 8.5 pct YoY.
Negative Read through
- Hathway Cable – Margin at 15.03 pct vs 16.75 pct, profit declined 29 pct YoY.
- Oberoi Realty – Q2 sales fell 21 pct, sales volume at 0.25 msf vs 0.35 msf QoQ.
- GMR Airports – Total September passenger traffic fell 3.3 pct, aircraft movements declined 1.7 pct.
- Delta Corp – EBITDA declined 18 pct, margin at 21.77 pct vs 26.59 pct YoY.
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