Market Commentary
Global markets – US indices closed positive on Wednesday after Fed holds rates steady. Dow Jones closed higher by 0.3 pct. While Nasdaq closed green by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 41,113 | 0.7 | -3.4 |
| Nasdaq | 17,738 | 0.3 | -8.1 |
| Hang Seng | 22,922 | 1.0 | 14.3 |
| Nikkei | 36,863 | 0.2 | -7.6 |
Commodities – Gold prices rose and stood at USD 3,412 as Fed’s flag economic uncertainty. On the other hand, oil prices stood at USD 61.47/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,402 | 1.1 |
| Silver ($) | 32.80 | 1.2 |
| Brent Crude ($) | 61.47 | 0.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,174 | 51,068 |
| 100 DMA | 23,393 | 50,692 |
| 200 DMA | 24,050 | 51,162 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading positive by 1 pct. While Nikkei trading positive by 02 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed slightly higher on Wednesday despite geopolitical tensions.
Result Today – LT, Titan, Asian Paints, Britannia, Bharat Forge, Pidilite Industries
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,746 | 0.1 | 3.3 |
| Nifty | 24,414 | 0.1 | 3.3 |
| Nifty Bank | 54,610 | 0.6 | 7.4 |
| Nifty Midcap 100 | 54,287 | 1.6 | -5.1 |
| Nifty Smallcap 100 | 16,471 | 1.7 | -12.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 2585 | -131,966 |
| DII | 2378 | 224,317 |
Stocks to watch
Positive Read through
- Tata Motors – US likely to announce trade deal with UK.
- Reliance – Jio added 2.17 mn users in March vs 1.7 mn in February.
- Coal India – Q4 above estimates, realisation grew 2 pct QoQ, employee expense dropped 11 pct YoY.
- Symphony – EBITDA jumped 87.7 pct, margin at 22 pct vs 17.2 pct YoY.
- Bharti Airtel – Added 1.25 mn users Vs addition of 1.59 mn users in February.
- Jindal Drilling – Awarded a 3-year contract by ONGC for rig Jindal Explorer.
- Lupin – Launches seizure drug Eslicarbazepine acetate in US after FDA approval.
- NLC India – Incorporated JV company with Assam Power Distribution company.
- Solex Energy – Received major order of Rs. 4.51 bn from KPI Green Energy.
Negative Read through
- Vodafone Idea – Loses 0.54 mn users in March vs 20,720 in February.
- Blue Star – EBITDA, margin below estimates, sales growth in-line.
- KFIN Tech – Promoter to sell 6 pct equity via block deals at 5-8 pct discount on Wednesday’s close.
- Route Mobile – Sales declined 0.7 pct; margin declines 60 bps QoQ.
- Dabur – Posted flat sales growth; EBITDA & Profit fell 8.5 pct YoY.
- Satin Credit – NIM at 11.81 pct vs 14.61 pct, profit tumbled 67.24 pct YoY.
- Tata Chemicals – Margin declined 340 bps, EBITDA declined 27 pct YoY.
- UPL – China imposes anti-dumping duty on Indian insecticide Cypermethrin.
- Voltas – Posted Q4 below estimates, loses RAC market share.
- Sonata Software – International IT services sales fell 6.6 pct, domestic product services sales declined 9 pct QoQ.
- Somany Ceramics – EBITDA declined 18 pct, margin at 8.5 pct vs 10.8 pct YoY.
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