Market Commentary
Global markets
US market closed lower on Wednesday over steady rates and chip stocks losses. Dow jones tumbled by 2.2 pct while Nasdaq closed negative by 2.2 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading muted by 0.1 pct. While Nikkei trading green by 1.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 51,599 | -2.2 | 7.4 |
| Nasdaq | 24,442 | -1.7 | 5.2 |
| Hang Seng | 25,788 | -0.1 | 0.6 |
| Nikkei | 62,218 | 1.2 | 22.4 |
Commodities
Gold prices remain steady and currently stood at USD 4,068 on inflation worries. On the other hand, oil prices stood at USD 86.90/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,068 | 0.0 |
| Silver ($) | 57.82 | 0.4 |
| Brent Crude ($) | 86.90 | -1.3 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices closed positive on Wednesday led by IT sector ahead of US Fed Interest rate decision.
Results Today – Bajaj Finance, M&M, Tata Steel, Hyundai, Thermax, Swiggy, NSDL
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,654 | 1.2 | -8.9 |
| Nifty | 24,250 | 1.1 | -7.2 |
| Nifty Bank | 57,205 | 0.8 | -4.0 |
| Nifty Midcap 100 | 62,862 | 0.8 | 3.9 |
| Nifty Smallcap 100 | 19,362 | 1.5 | 9.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,863 | 56,412 |
| 100 DMA | 23,831 | 55,767 |
| 200 DMA | 24,789 | 57,427 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 2,981 | -363,012 |
| DII | 998 | 513,643 |
Stocks to watch
| Positive Read through | Negative Read through |
| Eicher Motors – Sales grew 20 pct; increasing production to meet ahead-of-festive demand. | Waaree Energies – Operational performance subdued; margin at 18.2 pct vs 22.5 pct YoY. |
| Redington – EBITDA jumped 77 pct, margin improved to 2.0 pct vs 1.5 pct YoY. | Zensar Technologies – Sales ahead of estimates, but margin contracted by 150 bps QoQ. |
| Oberoi Realty – Signs redevelopment agreement with free sale area of 68,000 sq ft in Malabar Hill. | Force Motors – EBITDA fell 1 pct; margin at 13.4 pct vs 14.5 pct YoY. |
| MTAR Tech – Strong Q1 above estimates; order book surpasses FY27 guidance. | Prestige Estates – Pre-sales declined QoQ and YoY; margin at 32.1 pct vs 38.7 pct YoY. |
| Signature Global – Enters collaboration for 0.52 msf project on Sohna Road. | Hexaware – Cuts CY26 guidance; Q2 performance in line with estimates. |
| Bajaj Housing Finance – Good quarter with strong growth, though margins remain under pressure. | Vedanta Power – Reported loss versus profit; EBITDA declined 51 pct QoQ. |
| One MobiKwik (ONEMI) – AUM jumped 61 pct, on track to achieve FY27 guidance. | Syngene International – EBITDA tumbled 56 pct; sales down 16 pct YoY. |
| Astral – Scraps chemicals business demerger for now. | Chalet Hotels – EBITDA dropped 34.5 pct; sales fell 58.5 pct YoY. |
| Sun Pharma – Receives Brazil Health Authority approval to supply semaglutide injection. | Vedanta Oil & Gas – EBITDA down 7.7 pct; margin at 32.5 pct vs 34.0 pct QoQ. |
| NBCC – Signs agreement of USD 75 mn with Government of Seychelles for housing units’ construction | Go Digit – Peak XV sells stake via block deals; ICICI Prudential Mutual Fund buys 57.21 lakh shares. |
| Hind Rectifiers – Secures order from the United States for traction motor assemblies. | |
| Piramal Pharma – Loss narrowed; margin improved to 8.6 pct vs 5.5 pct YoY. | |
| Premier Energies – Board approves fund raise of up to Rs. 50 bn via QIP. | |
| Balkrishna Ind – Volumes up 16 pct vs estimated 10-12 pct; sales up 24 pct. | |
| Dabur – Q1 largely in line with estimates; domestic volume growth at 5 pct vs poll estimate of 6–8 pct. | |
| Triveni Engg – EBITDA up 5 pct, margin expanded 11 bps YoY. | |
| Vedanta Iron & Steel – Sales up 18 pct; margin at 13.9 pct vs 10.6 pct YoY. |
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