Market Commentary
Global markets
US market closed lower on Thursday amid rebound by oil prices. Dow Jones closed down by 0.6 pct. While Nasdaq closed red by 0.1 pct.
Asian markets
Asian markets trading lower in the early morning trade. Hang Seng trading negative by 1.1 pct. While Nikkei trading lower by 1.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 49,601 | -0.6 | 3.2 |
| Nasdaq | 25,806 | -0.1 | 11.0 |
| Hang Seng | 26,281 | -1.1 | 2.5 |
| Nikkei | 62,173 | -1.2 | 23.4 |
Commodities
Gold prices rose and currently stood at USD 4,715 as US-Iran tension persist. On the other hand, oil prices stood at USD 101.25/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,715 | 0.7 |
| Silver ($) | 79.69 | 1.8 |
| Brent Crude ($) | 101.25 | -2.1 |
Indian Indices
India’s equity benchmarks are likely to open gap down as GIFT Nifty indicates. Benchmark Indices closed flat on Thursday on hopes of a peace deal between the U.S. and Iran.
Result Today – SBI, Titan, ABB, Hyundai, Swiggy
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,844 | -0.1 | -8.7 |
| Nifty | 24,326 | -0.0 | -6.9 |
| Nifty Bank | 56,047 | 0.1 | -5.9 |
| Nifty Midcap 100 | 62,003 | 1.1 | 2.5 |
| Nifty Smallcap 100 | 18,695 | 0.9 | 5.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,049 | 56,069 |
| 100 DMA | 24,902 | 57,837 |
| 200 DMA | 25,080 | 57,202 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -340 | -249,320 |
| DII | 441 | 319,148 |
Stocks to watch
| Positive Read through | Negative Read through |
| Gravita India – EBITDA rose 22 pct, margin at 9.6 pct vs 8.9 pct YoY | Lenskart – 6.9 pct equity likely to change hands via block deals, price at 3.6 pct discount to CMP |
| Thyrocare Tech – EBITDA grew 30.1 pct, margin at 33.5 pct vs 30.8 pct YoY | OMCs/Paint – Crude swings back above USD 100/bbl amid flaring tensions in Hormuz Strait |
| BSE – Strong Q4, ADPTO up 49 pct QoQ, adj EBITDA margin expanded 346 bps QoQ | MGL – Margin at 12.7 pct vs 17.1 pct, EBITDA fell 26.1 pct YoY |
| Thermax – Q4 above estimates, EBITDA jumped 25 pct YoY | Shakti Pumps – EBITDA declined 49.3 pct, margin at 9.7 pct vs 24.6 pct YoY |
| ONGC/Oil – Crude swings back above USD 100/bbl amid flaring tensions in Hormuz Strait | Vikram Solar – Margin at 16.1 pct vs 18.7 pct, to invest ₹3,726 Cr in 6 GW solar wafer facility |
| Cochin Shipyard – Arm bags order in the range of Rs. 1-2.5 bn from Ocean Sparkle | Britannia – Weak Q4, sales & EBITDA miss expectations |
| PNC Infra – Bags order worth Rs. 1.94 bn from Lucknow Development Authority, Uttar Pradesh | |
| CCL Products – EBITDA rose 17.5 pct, sales increased 46.5 pct YoY | |
| City Union Bk – Kotak gets RBI nod to acquire aggregate holding of up to 9.99 pct in bank | |
| J&K Bank – Kotak gets RBI nod to acquire ‘aggregate holding’ of up to 9.99 pct in bank | |
| Dabur – Domestic volume growth at 6 pct vs expected 4-5 pct | |
| Pidilite – Strong Q4, consumer biz volume growth at 15.4 pct vs expected 9.5-11.5 pct | |
| Hind Copper – To seek shareholder nod for fund raise via QIP on May 15 | |
| Kirloskar Ferrous – EBITDA up 11.6 pct, margin expanded to 12.4 pct vs 11.6 pct YoY | |
| South Indian Bk – Kotak gets RBI nod to acquire aggregate holding of up to 9.99 pct | |
| Sonata Software – EBIT up 5.6 pct, margin at 7.2 pct vs 5.6 pct QoQ | |
| Pace Digitek – Bags orders worth Rs. 7.02 bn from Damodar Valley Corp for BESS |
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