Market Commentary
Global markets
US market closed positive on Tuesday due to decline in yield and oil prices. Dow Jones closed up by 1.3 pct. While Nasdaq closed green by 1.5 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading flat While Nikkei trading positive by 3.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 50,013 | 1.3 | 4.1 |
| Nasdaq | 26,270 | 1.5 | 13.0 |
| Hang Seng | 25,655 | 0.0 | 0.1 |
| Nikkei | 61,945 | 3.6 | 22.9 |
Commodities
Gold prices fell and currently stood at USD 4,536 over inflation concern. On the other hand, oil prices stood at USD 105.84/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,536 | -0.2 |
| Silver ($) | 75.50 | -0.5 |
| Brent Crude ($) | 105.84 | 0.7 |
Indian Indices
India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates. Benchmark Indices recovered on Wednesday lifted by heavyweight, while the war-led upswing in global borrowing costs continued to weigh on sentiment, pulling the rupee to another record low.
Result Today – ITC, LG, Aurobindo Pharma, Emami, Wabag
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,318 | 0.2 | -11.6 |
| Nifty | 23,659 | 0.2 | -9.5 |
| Nifty Bank | 53,562 | 0.3 | -10.1 |
| Nifty Midcap 100 | 61,323 | 0.5 | 1.4 |
| Nifty Smallcap 100 | 17,870 | 0.0 | 0.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,727 | 54,750 |
| 100 DMA | 24,686 | 57,335 |
| 200 DMA | 25,012 | 57,065 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1597 | -268,225 |
| DII | 1968 | 352,873 |
Stocks to watch
| Positive Read through | Negative Read through |
| Arvind Smart – EBITDA jumped 76.5 pct, margin at 38.2 pct vs 20.6 pct YoY | Sammaan Cap – Total AUM fell 15 pct YoY, core NII growth remains weak |
| Jubilant Food – Q4 EBITDA above estimates, margin at 20.5 pct vs 19.6 pct YoY | Garware Tech – Profit declined 19.5 pct, margin flat at 23 pct YoY |
| Metro Brands – EBITDA grew 20.6 pct, sales rose 20.3 pct YoY | TeamLease – EBITDA down 3.9 pct, buyback of up to Rs. 2.38 bn at Rs. 1,600/share |
| JK Cement – Gets LoI for mining lease for Dommarnandyala Block-3 limestone block in Andhra | HG Infra – Excludes MSRDC orders worth Rs. 41 bn from order book amid uncertainty |
| Adani Power – To acquire stake in Jaiprakash Power for Rs. 29.93 bn | Strides Pharma – US FDA issues Form 483 with 5 observations for facility in Bangalore |
| Whirlpool – EBITDA dropped 33.8 pct, margin at 5.6 pct vs 9.1 pct YoY | |
| Embassy Devpts – Posted EBITDA loss vs EBITDA, sales tumbled 61 pct YoY | |
| EPACK – EBITDA dropped 64.2 pct, RAC segment witnessed a 24.7 pct decline YoY |
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