Market Commentary
Global markets – US indices closed positive on Thursday led by Microsoft and Meta earnings. Dow Jones closed green by 0.2 pct. While Nasdaq jumped by 1.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 40,752 | 0.2 | -4.2 |
| Nasdaq | 17,710 | 1.5 | -8.3 |
| Hang Seng | 22,375 | 1.2 | 11.5 |
| Nikkei | 36,705 | 0.7 | -8.0 |
Commodities – Gold prices rose and stood at USD 3,250 after profit booking, On the other hand, oil prices rebounded and stood at USD 62.48/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,250 | 0.3 |
| Silver ($) | 32.57 | 0.6 |
| Brent Crude ($) | 62.48 | 1.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,066 | 50,627 |
| 100 DMA | 23,401 | 50,628 |
| 200 DMA | 24,050 | 51,112 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading positive by 1.2 pct. While Nikkei trading green by 0.7 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed flat on Wednesday due to cautious market sentiments over geopolitical developments.
Result Today – Marico, Gravita, RR Kabel, Godrej Properties.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,242 | -0.1 | 2.7 |
| Nifty | 24,334 | -0.0 | 2.9 |
| Nifty Bank | 55,087 | -0.5 | 8.3 |
| Nifty Midcap 100 | 54,124 | -0.8 | -5.4 |
| Nifty Smallcap 100 | 16,448 | -1.7 | -12.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 50 | -141,614 |
| DII | 1792 | 217,257 |
Stocks to watch
Positive Read through
- M&M – Both auto & tractor sales higher than estimates in April.
- HAL – Advanced light helicopter Army & Air Force versions cleared for operations.
- JSW Energy – Power procurement agreement for 1,500 MW/12,000 MWh with UPPCL.
- Ambuja – Gets no adverse observations from NSE & BSE for proposed SoA with Penna Cement.
- Maruti – April sales slightly better than estimates, total sales up 7 pct YoY.
- HBL Engg – Gets LoA for a Kavach order worth Rs. 1.46 bn from Western Railway.
- JSW Infra – Q4 earnings in-line with estimates, EBITDA grew 10 pct YoY.
- TVS Motor – Continues to outperform peer, April sales 4 pct higher than estimates.
- Adani Ent – EBITDA rose 16 pct, margin at 13.7 pct vs 11 pct YoY.
- GE Vernova – To supply 70 units of 765 kV transformers & reactors to PowerGrid.
- NMDC – Raises iron ore lump & fine prices by Rs. 440/tonne effective May 1.
- Adani Ports – EBITDA grew 23.8 pct, profit rose 48 pct YoY.
- One Mobikwik – Arm gets RBI nod to operate as online payment aggregator.
- GR Infra – Executes concession agreement with NHAI for a proj worth Rs. 42.63 bn.
Negative Read through
- Phoenix Mills – EBITDA fell 11 pct, sales tumbled 22.2 pct YoY.
- Phoenix Mills – EBITDA fell 11 pct, sales tumbled 22.2 pct YoY.
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