Market Commentary
Global markets – US indices closed lower on Tuesday ahead of Fed policy decision. Dow Jones closed red by 0.1 pct. While Nasdaq closed negative by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,632 | -0.1 | 4.9 |
| Nasdaq | 21,098 | -0.3 | 9.3 |
| Hang Seng | 25,474 | -0.2 | 27.0 |
| Nikkei | 40,682 | 0.1 | 2.0 |
Commodities – Gold prices remain steady and currently stood at USD 3,326 over easing trade tensions reduced demand for safe haven commodity. On the other hand, oil prices stood at USD 71.56/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,326 | -0.0 |
| Silver ($) | 38.13 | -0.0 |
| Brent Crude ($) | 71.56 | -0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,053 | 56,376 |
| 100 DMA | 24,316 | 54,323 |
| 200 DMA | 24,055 | 52,523 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.2 pct. While Nikkei trading green by 0.1 pct.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark rebounded on Tuesday, driven by bargain buying in heavy weights stocks ahead of Fed policy decision.
Result Today – Hyundai, KPIT Tech
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,337 | 0.6 | 4.1 |
| Nifty | 24,821 | 0.6 | 5.0 |
| Nifty Bank | 56,222 | 0.2 | 10.5 |
| Nifty Midcap 100 | 57,984 | 0.8 | 1.4 |
| Nifty Smallcap 100 | 18,251 | 1.0 | -2.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4636 | -163,829 |
| DII | 6146 | 410,609 |
Stocks to watch
Positive Read through
- Tata Motors – May acquire 27 pct stake in Italian CV maker Iveco Group.
- Bharti Airtel – Adds 0.76 mn users in June vs addition of 0.28 mn users in May.
- L&T – Healthy start to FY26 with robust order inflows and strong execution.
- ASK Automotive – EBITDA rose 19.2 pct, margin at 13.4 pct vs 11.6 pct YoY.
- Piramal Enterprises – On track to achieve FY26 targets, credit cost at 1.4 pct vs 1.8 pct QoQ.
- GMR Airports – Margin at 40.7 pct vs 37.4 pct, EBITDA jumped 45.4 pct YoY.
- Axiscades – Bags defence electronics orders across airborne, naval, and radar programmes.
- Gallantt Ispat – EBITDA grew 15.4 pct, margin at 21.9 pct vs 18.4 pct YoY.
- JSW Steel – Supreme Court agrees to hear review petition in Bhushan Power & Steel IBC case.
- Allied Blenders – EBITDA increased 50.5 pct, margin at 12 pct vs 9.8 pct YoY.
- GAIL – Forms 50:50 JV with RVUNL for transfer of gas-based power plant, setting up 1,000 MW projects.
- MCX – To consider stock split on August 1.
- IGI India – Q2CY24 EBITDA rose 37 pct, margin at 57.5 pct vs 48.7 pct YoY.
- Novartis India – EBITDA up 14 pct, margin at 30.8 pct vs 25.7 pct YoY.
Negative Read through
- Tilaknagar Ind – To raise Rs. 22.96 bn via preferential issue, issue price at 25 pct discount to CMP.
- Blue Dart – EBITDA fell 3.6 pct, margin at 13.5 pct vs 15.1 pct YoY.
- Bank of India – NII dropped 3.3 pct, RoA FY26 guidance of 0.9 pct due to pressure on NIMs.
- NTPC – Q1 missed estimates, margin at 24.1 pct vs 28 pct YoY.
- Nilkamal – Margin at 6.5 pct vs 7.4 pct, profit slipped 16.3 pct YoY.
- Triveni Engineering – EBITDA fell 38 pct, margin at 3.3 pct vs 6.6 pct YoY.
- Star Health – Q1 missed estimates, combined ratio at 102.16 pct vs 99.14 pct YoY.
- Lloyds Engineering – EBITDA fell 1.6 pct, margin at 13.9 pct vs 18.2 pct YoY.
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