Market Commentary
Global markets
US market closed lower on Wednesday, as US-Iran conflicts pushed oil higher. Dow Jones closed flat while Nasdaq negative by 0.6 pct.
Asian markets
Asian markets trading positive in the early morning trade. Hang Seng trading positive by 1.2 pct. While Nikkei trading green by 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,224 | -0.0 | 8.7 |
| Nasdaq | 25,690 | -0.6 | 10.5 |
| Hang Seng | 25,199 | 1.2 | -1.7 |
| Nikkei | 66,424 | 0.5 | 31.8 |
Commodities
Gold prices remain steady and currently stood at USD 4,127 over softer dollar. On the other hand, oil prices stood at USD 96/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,127 | -0.1 |
| Silver ($) | 59.76 | 0.0 |
| Brent Crude ($) | 96.00 | 0.6 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices extended loses on Wednesday over widening Middle East conflict.
Results Today – Infosys, Cipla, Coromandel, Sona BLW, Interglobe Aviation
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,755 | -0.9 | -9.9 |
| Nifty | 23,996 | -0.8 | -8.2 |
| Nifty Bank | 57,126 | -1.2 | -4.1 |
| Nifty Midcap 100 | 62,300 | -1.1 | 3.0 |
| Nifty Smallcap 100 | 19,129 | -1.5 | 8.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,833 | 56,167 |
| 100 DMA | 23,896 | 55,941 |
| 200 DMA | 24,806 | 57,392 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -418 | -358,169 |
| DII | -819 | 500,251 |
Stocks to watch
| Positive Read through | Negative Read through |
| NTPC/Tata Power – Government advanced plans for SMR, aiming 5 nuclear units by 2033. | HPCL – Fuel and LPG retailing losses impacted earnings despite GRM coming in above estimates. |
| Nippon Life AMC – Q1 sales was in line with estimates, while PAT beat expectations. | OMCs/ Paint Cos – Brent crude remained above USD 95/bbl, raising concerns over higher input costs. |
| Dixon Tech/Syrma SGS – Government approved two electronics manufacturing clusters in Tamil Nadu with investments of Rs. 10.12 bn | Dr. Reddy’s – Weak Q1 performance as profit was impacted by a Rs. 2.40 bn provision related to the Semaglutide API. |
| HEG – EBITDA increased 43 pct YoY, with EBITDA margin improving to 22 pct from 17.2 pct. | United Spirits – Higher advertising spends and exceptional items impacted EBITDA and Profit. |
| IndusInd Bank – Reported Q1 earnings above estimates, with profit rising 72 pct YoY. | Vedanta Oil & Gas – Delhi High Court upheld the transfer of an offshore block to ONGC. |
| Sona BLW – Formed a joint venture with Japan’s Denso for electric and hybrid powertrain systems. | |
| NTPC Green – EBITDA increased 64 pct YoY, while profit grew 38 pct YoY. | |
| Inox Green – Board approved a fund raise of Rs. 6 bn through the issuance of securities. | |
| Tanla Platforms – EBITDA increased 13 pct YoY, with EBITDA margin improving to 16.4 pct from 15.8 pct. | |
| Waaree Renewable Tech – EBITDA increased 48 pct YoY, while sales rose 53 pct YoY. | |
| OFSS – Reported a strong Q1; CFO Avadhut Ketkar to take over as MD & CEO. | |
| Schaeffler India – Reported strong double-digit growth momentum with sales up 18 pct YoY. | |
| ONGC – Crude continued its rally, with Brent crude rising 2 pct to above USD 95/bbl. | |
| IIFL Finance – Loan AUM grew 38 pct YoY, while NII increased 34 pct YoY. | |
| Saatvik Green – Secured a Rs. 1.38 bn order for the supply of solar PV modules. | |
| UCO Bank – NII increased 17 pct YoY, while gross NPA improved to 2.08 pct from 2.17 pct QoQ | |
| HCLTech – Selected by TIM Brasil to provide an eSIM platform for its customers. |
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