Market Commentary
Global markets – US indices closed mixed on Friday as Trump alleges China Violated trade deal. Dow Jones closed positive by 0.1 pct. While Nasdaq fell by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,270 | 0.1 | -0.6 |
| Nasdaq | 19,113 | -0.3 | -1.0 |
| Hang Seng | 22,733 | -2.4 | 13.3 |
| Nikkei | 37,413 | -1.5 | -6.2 |
Commodities – Gold prices rose and currently trading at USD 3,306 over new tariff threat. On the other hand, oil prices rose and stood at USD 64.34/bbl over potential OPEC+ output hike.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,306 | 0.5 |
| Silver ($) | 33.04 | 0.2 |
| Brent Crude ($) | 64.34 | 2.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,960 | 53,410 |
| 100 DMA | 23,501 | 51,234 |
| 200 DMA | 24,065 | 51,497 |
Asian markets – Asian markets trading negative in the early morning trade. Hang Seng trading down by 2.4 pct. While Nikkei trading lower by 1.5 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed in red Friday tracking mixed global cues after a US court reinstated broad Trump-era tariffs.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,451 | -0.2 | 4.2 |
| Nifty | 24,750 | -0.3 | 4.7 |
| Nifty Bank | 55,749 | 0.4 | 9.6 |
| Nifty Midcap 100 | 57,420 | -0.1 | 0.4 |
| Nifty Smallcap 100 | 17,883 | -0.0 | -4.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -6449 | -129,849 |
| DII | 9095 | 284,900 |
Stocks to watch
Positive Read through
- Solar Ind – Bags Rs. 4.02 bn order from Coal India for supply of cartridge explosives.
- M&M – May sales higher than estimate, continues to outperform peers.
- Mazagon – Expect 8-10 pct sales growth in FY26, Q4 margin impacted due to provisions.
- Eicher Motors – May sales led by up to 350cc segment, RE sales up 26 pct YoY.
- Ajmera Realty – Delivers luxury project Ajmera Prive ahead of RERA timelines.
- Adani Energy – Bags Rs. 16.6 bn transmission project in Maharashtra, board nod for Rs. 43 bn QIP.
- Apollo Hosps – Q4 in-line with estimates, expansion in Bengaluru with an investment of Rs. 11.44 bn.
- BPCL – Board nod for investment in JV Tikitar & Shell India, cracking unit change for Rs. 142 bn.
- Olectra – Maharashtra reinstates Rs. 100 bn e-bus order under new delivery schedule.
- Indigo – MoU with Airbus for 30 more widebody Airbus A350-900 aircraft.
- IRB Infra/IRB Invit – Binding term sheet for sale of 3 assets for equity value of Rs. 49.05 bn.
- Ircon – Bags an EPC order worth Rs. 10.68 bn from East Central Railway.
- TVS Motor – All the segments register sales growth of 14 pct or more in May.
- Astrazeneca – EBITDA jumped 74.7 pct, margin at 17.96 pct vs 12.89 pct YoY.
Negative Read through
- Alembic Pharma – US FDA issues Form 483 with 4 observations for API-I & II units at Panelav.
- Voda Idea – Losses widen, subscriber losses continue.
- Tata Motors – May sales below estimates, down 8.6 pct YoY.
- Cipla – US FDA issues 1 observation for Bommasandra facility.
- DRL/Onesource – Delhi HC restrains from selling Novo Nordisk’s semaglutide in domestic market.
- Hero Moto – May sales below estimate, low-single digit growth for all the segments.
- Inox Wind – FY25 execution below management expectation, order inflows down 35 pct YoY.
- Hindalco, Tata Steel – US to double tariffs on steel, aluminium to 50 pct from June 4..
- Niva Bupa – Up to 7.2 pct stake sale via block, floor price at 11 pct discount to CMP
- Sun TV – EBITDA declined 18 pct, margin at 45.61 pct vs 54.40 pct YoY.
- RK Forge – EBITDA fell 47 pct, margin at 10.45 pct vs 19.3 pct YoY.
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