Market Commentary
Global markets
US indices declined on Thursday amid AI disruption concern. Dow Jones closed down by 1.3 pct. While Nasdaq closed lower by 2 pct.
Asian markets
Asian markets closed negative in the early morning trade. Hang Seng trading down by 1.7 pct. While Nikkei trading in red by 0.7 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 49,451 | -1.3 | 2.9 |
| Nasdaq | 22,597 | -2.0 | -2.8 |
| Hang Seng | 26,576 | -1.7 | 3.7 |
| Nikkei | 57,226 | -0.7 | 13.5 |
Commodities
Gold prices rose and currently stood at USD 4,984 amid upcoming US CPI data. On the other hand, oil prices stood at USD 67.46/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,984 | 1.3 |
| Silver ($) | 77.09 | 2.5 |
| Brent Crude ($) | 67.46 | -0.0 |
Indian Indices
Indian Indices
India’s equity benchmarks are likely to open gap down as GIFT Nifty indicates. Benchmark Indices declined on Thursday led by sell off in IT stocks while fading expectations of a near-term U.S. rate cut also weighed.
Results Today – NH, Siemens Energy, Shakti Pumps
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 83,674 | -0.7 | -1.8 |
| Nifty | 25,807 | -0.6 | -1.2 |
| Nifty Bank | 60,739 | 0.0 | 1.9 |
| Nifty Midcap 100 | 60,470 | -0.5 | 0.0 |
| Nifty Smallcap 100 | 17,344 | -0.6 | -2.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,782 | 59,527 |
| 100 DMA | 25,682 | 58,492 |
| 200 DMA | 25,287 | 57,080 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 108 | -37,064 |
| DII | 277 | 76,295 |
Stocks to watch
| Positive Read through | Negative Read through |
| Indian Hotels – Profit boosted on exceptional gain from Taj GVK stake sale, EBITDA up 12 pct YoY. | Biocon – Records a net loss due to exceptional outflow of Rs. 2.93 bn, sales slipped 3 pct |
| HAL – Ministry of Defence to buy 8 Dornier aircraft for Rs. 23.12 bn. | Coal India – Weak results, FSA volume dropped by 3 pct due to lower demand from the power sector. |
| JKumar Infra – Gets LoA from NBCC for a project worth Rs. 6.15 bn. | Hindalco – Q3 results below estimates, CC rod shipments down 14 pct QoQ |
| Lupin – Q3 results above estimates, records highest ever quarterly sales in the US. | IGL – Muted volume growth, profit declined 5.2 pct at Rs. 3.58 bn vs Rs. 3.78 bn QoQ. |
| Zensar Tech – Gets a framework deal of USD 210 mn with a major player in the financial industry. | PI Ind – Q3 results below estimates, margin fell nearly 500 bps YoY. |
| Mishra Dhatu – Sales rose nearly 16 pct, EBITDA up 4 pct at Rs. 543 mn vs Rs. 522 mn YoY. | |
| Bharat Rasayan – Sales grew nearly 6 pct, EBITDA up 1.9 pct at Rs. 424 mn vs Rs. 416 mn YoY. | |
| Travel Food – Profit up nearly 36 pct, EBITDA up 15 pct at Rs. 1.81 bn vs Rs. 1.57 bn YoY. | |
| Zaggle Prepaid – Profit up over 84 pct, EBITDA up 80 pct at Rs. 520 mn vs Rs. 290 mn YoY. | |
| Muthoot Finance – Q3 results better than expected, PPoP more than double YoY. | |
| Honasa Cons – Strong Q3 results, LFL sales growth at 21.3 pct due to settlement with Flipkart. | |
| IRCTC – Strong Q3 results, led by growth in tourism segment. | |
| Schneider Electric – Sales jumped 20 pct, EBITDA up 23.1 pct at Rs. 1.72 bn vs Rs. 1.40 bn YoY. | |
| Engineers India – EBITDA at Rs. 3.52 bn vs Rs. 979 mn, margin rose over 1,600 bps YoY. | |
| Puravankara – Profit turns positive, sales jumps 3-fold YoY | |
| Infosys – Partners with Exxon Mobil to promote cooling solutions for AI infra. | |
| Petronet LNG – Profit up over 5 pct, EBITDA grew 7.3 pct at Rs. 11.99 bn vs Rs. 11.17 bn QoQ |
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