Market Commentary
Global markets – US indices closed green on Monday despite weak economic data. Dow Jones closed positive by 0.7 pct. While Nasdaq closed green by 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 40,527 | 0.7 | -4.7 |
| Nasdaq | 17,461 | 0.5 | -9.6 |
| Hang Seng | 21,991 | -0.1 | 9.6 |
| Nikkei | 35,902 | 0.2 | -10.0 |
Commodities – Gold prices fell and stood at USD 3,319 over easing concern between US and China, On the other hand, oil prices fell and stood at USD 62.41/bbl as tariffs fuel global growth concern.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,308 | -0.3 |
| Silver ($) | 32.96 | 0.2 |
| Brent Crude ($) | 62.71 | -0.5 |
| 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 mixed in the early morning trade. Hang Seng trading lower by 0.1 pct. While Nikkei trading green by 0.2 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed flat on Tuesday as geopolitical concerns offset trade deal hopes.
Result Today – Varun Beverages, Vedanta, Indus Tower
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,288 | 0.1 | 2.8 |
| Nifty | 24,335 | 0.0 | 2.9 |
| Nifty Bank | 55,391 | -0.1 | 8.9 |
| Nifty Midcap 100 | 54,587 | 0.3 | -4.6 |
| Nifty Smallcap 100 | 16,738 | 0.4 | -10.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 2385 | -141,664 |
| DII | 1369 | 215,465 |
Stocks to watch
Positive Read through
- Vishal Megamart – Sales growth largely in line with past performance, margin up 190 bps YoY.
- BPCL – Strong Q4 driven by refining beat, reported GRM above estimate at USD 9.20/bbl.
- Fedbank Fin – Profit rose 5.90 pct, NII jumped 34.6 pct YoY.
- Alembic Pharma – US FDA issues establishment inspection report from Panelav plant.
- Prestige Est – Gets RERA approval for residential project in NCR, GDV at Rs. 90 bn.
- SBI – To consider fund raise on May 3.
- Endurance Tech – To set up lithium-ion battery packs unit in Pune for Rs. 473 mn.
- IndiaMart – Margin at 36.70 pct vs 28.10 pct, sales grew 12.80 pct YoY.
- CEAT – Posted Q4 better than estimates, margin contracts YoY on higher input costs.
- Schaeffler India – Margin came at 18.15 pct vs 17.6 pct, EBITDA rises 19 pct YoY.
- Strides Pharma – Subsidiary has acquired 4 approved ANDAs for the US market from Nostrum Laboratories Inc., USA.
- Bajaj Finance – The Board approved Bonus issue for 4:1 and stock split 1:2.
- Infosys – Launched ‘Infosys Topaz for SAP S/4HANA Cloud, an AI-first suite for SAP transformations.
Negative Read through
- IndusInd Bk – Sumanth Kathpalia resigns as MD & CEO, RBI nod to form committee of executives.
- Praj Ind – Q4 miss across the board, margin slipped 424 bps YoY.
- Bajaj Finserv – Total premium fell 9.65 pct, gross written premium declined 12.80 pct YoY.
- Shoppers Stop – Muted sales & EBITDA growth, margin flat at 16 pct YoY.
- Star Health – Operating loss vs profit, combined ratio up 642 bps YoY.
- Five Star Fin – GNPA ratio at 1.79 pct vs 1.62 pct, disbursements rose 9.24 pct YoY.
- CIE Automotive – EBITDA fell 7 pct, sales declined 6.4 pct YoY.
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