Market Commentary
Global markets
US market extended loses on Tuesday over fading US-Iran deal hopes which pushing oil higher. Dow jones closed red by 0.3 pct and Nasdaq closed muted by 0.6 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading negative by 1.2 pct. While Nikkei trading up by 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,797 | -0.3 | 11.9 |
| Nasdaq | 26,445 | -0.6 | 13.8 |
| Hang Seng | 25,350 | -1.2 | -1.1 |
| Nikkei | 67,039 | 0.1 | 32.0 |
Commodities
Gold prices rose and currently stood at USD 4,410 ahead of US inflation data. On the other hand, oil prices stood at USD 89.70/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,410 | 1.0 |
| Silver ($) | 65.50 | 1.3 |
| Brent Crude ($) | 89.70 | 0.5 |
Indian Indices
India’s equity benchmarks likely to open green as GIFT Nifty indicates. Benchmark indices closed red on Tuesday as higher oil prices dents investor sentiments.
Results Today – HAL, GRASIM, Apollo Hospital, Lenskart, Abbott, Aditya Infotech, IRCTC, Astral, Wabag, Jyothy Labs, EMS.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,154 | -0.5 | -8.3 |
| Nifty | 24,471 | -0.5 | -6.3 |
| Nifty Bank | 57,446 | -0.4 | -3.6 |
| Nifty Midcap 100 | 63,843 | 0.0 | 5.6 |
| Nifty Smallcap 100 | 19,857 | 0.2 | 12.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,004 | 57,043 |
| 100 DMA | 23,843 | 55,759 |
| 200 DMA | 24,758 | 57,480 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 258 | -360,033 |
| DII | 24 | 526,029 |
Stocks to watch
| Positive Read through | Negative Read through |
| Ashok Leyland/JBM Auto – Government considers interest subvention for e-buses and e-trucks | Godrej Consumer – Sudhir Sitapati steps down as MD & CEO with immediate effect |
| L&T – To transfer data center and cloud business to arm Vyoma AI for Rs. 14 bn | PI Industries – EBITDA declined 29.2 pct, margin at 21.6 pct vs 27.3 pct YoY |
| Hindalco/Nalco – Norsk Hydro’s Alunorte cuts alumina output due to gas shortage | Tenneco – Promoter group likely to pare up to 10 pct stake via block deals |
| Glenmark Pharma – US unit settles Humana suit for USD 15.28 mn | Delta Corp – EBITDA fell 22 pct, margin at 18 pct vs 21 pct YoY |
| Landmark Cars – EBITDA up 17.9 pct, sales increased 23 pct YoY | Ashoka Buildcon – EBITDA tumbled 57 pct, margin at 17.2 pct vs 32 pct YoY |
| JSW Dulux – Board approves stock split in 10:1 ratio, Q1 volume growth at 25 pct | Epack Durable – EBITDA flat, margin at 6.2 pct vs 8.3 pct YoY |
| RHI Magnesita – EBITDA up 35 pct, margin at 13.58 pct vs 10.64 pct YoY | Tata Group – N Chandrasekaran may step down as Tata Sons chairman ahead of August 18 AGM |
| Zydus Life – Arm Sentyll to acquire rights to commercialise rare respiratory drug in US | Senco – Q2 is a seasonally soft quarter, profit down 3 pct YoY |
| Greenpanel Industries – Posted profit vs loss, sales up 6.6 pct YoY | Linde India – Profit fell 2.4 pct, margins at 28.9 pct vs 34.5 pct YoY |
| Diamond Power – Bags orders worth Rs. 1,955 mn | On Mobile – EBITDA down 74 pct, margin at 1.2 pct vs 4.6 pct YoY |
| Ceigall India – EBITDA jumped 32 pct, margin at 14.8 pct vs 13 pct YoY | Bata – Margin flat, EBITDA up 2.6 pct YoY |
| Flair Writing – EBITDA up 8 pct, sales climbed 11 pct YoY | |
| HG Infra – Receives LoA from Rajasthan government for ITI Bhiwadi cluster under PM-SETU | |
| Mannapuram Fin – Gold AUM jumped 97.9 pct YoY, non-gold AUM fell 18.5 pct YoY | |
| Thyrocare – Rs. 10 bn deal likely in block window today, indicative price Rs. 630/share | |
| Saatvik Solar – Bags orders worth Rs. 4 bn for supply of solar PV modules | |
| MCX – Newsbreak confirmed, SEBI releases paper on FPI participation in non-agri segment |
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