Market Commentary
Global markets – US indices closed mixed on Monday after US – EU trade deal. Dow Jones closed red by 0.1 pct. While Nasdaq closed positive by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,837 | -0.1 | 5.4 |
| Nasdaq | 21,178 | 0.3 | 9.7 |
| Hang Seng | 25,327 | -0.9 | 26.3 |
| Nikkei | 40,623 | -0.9 | 1.8 |
Commodities – Gold prices remain steady and currently stood at USD 3,317 over easing trade tensions. On the other hand, oil prices stood at USD 69.30/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,317 | 0.1 |
| Silver ($) | 38.14 | -0.0 |
| Brent Crude ($) | 69.30 | -0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,050 | 56,348 |
| 100 DMA | 24,288 | 54,242 |
| 200 DMA | 24,055 | 52,496 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading down by 0.9 pct. While Nikkei trading red by 0.9 pct.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark indices closed extended losses on Monday led by losses in financials and IT stocks.
Result Today – LT, NTPC, Varun Beverages, Asian Paints, Amber Ent.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,891 | -0.7 | 3.5 |
| Nifty | 24,680 | -0.6 | 4.4 |
| Nifty Bank | 56,084 | -0.8 | 10.3 |
| Nifty Midcap 100 | 57,519 | -0.8 | 0.6 |
| Nifty Smallcap 100 | 18,064 | -1.3 | -3.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -6082 | -159,193 |
| DII | 6764 | 404,463 |
Stocks to watch
Positive Read through
- KEC International – Posted steady Q1, EBITDA rose 19 pct YoY.
- Gravita – EBITDA/tonne up 13 pct, margin at 12.5 pct vs 10 pct YoY.
- Torrent Pharma – EBITDA grew 7 pct, sales up 11 pct YoY.
- Waaree Energies – Margin at 22.5 pct vs 16.2 pct, EBITDA jumped 80.5 pct YoY.
- Paradeep Phosphate – Margin at 12.41 pct vs 6.18 pct, sales increased by 58 pct YoY.
- JK Paper – EBITDA up 9.7 pct, margin at 4.38 pct vs 3.95 pct YoY.
- RPSG Ventures – Executes SPA to acquire 70 pct stake in Manchester Originals for ~Rs. 9.41 bn.
- NTPC Green – EBITDA up 18 pct, profit grew 59 pct YoY.
- Go Digit – Combined ratio at 108.6 pct vs 109.3 pct, AUM rose 6 pct QoQ.
- PNC Infra – Bags Rs. 29.57 bn order from South Eastern Coalfields Limited.
- ONGC – Partners BP & Reliance in a joint operation agreement for exploration of Saurashtra basin.
- Arvind Fashions – EBITDA up 10 pct, sales increased by 16 pct YoY.
- Kaynes Tech – Board approves 3 acquisitions worth Rs. 440 mn.
- Quess Corp – EBITDA rose 10.3 pct, sales grew 1.8 pct YoY.
Negative Read through
- Chemplast – Posted loss against profit, margin came at 1.6 pct vs 10.8 pct YoY.
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