Market Commentary
Global markets
US market closed mixed on Wednesday after US inflation print. Dow jones closed flat and Nasdaq closed negative by 0.5 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng trading flat. While Nikkei trading positive by 1.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,775 | -0.0 | 11.9 |
| Nasdaq | 26,588 | -0.5 | 14.4 |
| Hang Seng | 25,444 | 0.0 | -0.7 |
| Nikkei | 68,609 | 1.6 | 36.1 |
Commodities
Gold prices remain flat and currently stood at USD 4,411 on tame US inflation data. On the other hand, oil prices stood at USD 88.00/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,411 | 0.0 |
| Silver ($) | 65.57 | 0.0 |
| Brent Crude ($) | 88.00 | -0.6 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices closed red on Wednesday dragged by Tata Stocks which fell after Chairman’s exit.
Results Today – Solar Industries, TMPV, LG Electronics, Max Health, IPCA, Page Industries, Godrej Ind, Jubilant Food, Amber Ent, CESC, Elgi Equipment, JSW Cement, Praj Industries
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,966 | -0.2 | -8.5 |
| Nifty | 24,435 | -0.1 | -6.5 |
| Nifty Bank | 57,885 | 0.8 | -2.8 |
| Nifty Midcap 100 | 64,024 | 0.3 | 5.9 |
| Nifty Smallcap 100 | 19,821 | -0.2 | 11.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,045 | 57,203 |
| 100 DMA | 23,867 | 55,831 |
| 200 DMA | 24,745 | 57,478 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1002 | -361,036 |
| DII | 5841 | 531,870 |
Stocks to watch
| Positive Read through | Negative Read through |
| Apollo Hospitals – Posted Q1 above estimates, EBITDA up 28 pct YoY | IRCTC – Margin at 28.2 pct vs 34.3 pct YoY, core internet ticketing sales flat YoY |
| Bharti Airtel – Discontinues select prepaid plans across the country from today, sources | VA Tech – EBITDA increased 10 pct, margin at 11.5 pct vs 13 pct YoY |
| Tata Motors CV – Steady Q1, EBITDA up 16 pct, domestic market share expanded 207 bps YoY | Ultratech – Pilani Investment likely to sell 0.6 pct equity via block, floor price at 3 pct discounts to CMP |
| GE Power – Gets NoA for Shoaiba fuel conversion project in Saudi Arabia worth Rs. 5.50 bn | Petronet LNG – EBITDA fell 18 pct, sales declined 41 pct QoQ |
| HAL – Government issues Rs. 1 trillion tenders for 60 multirole transport aircraft | Goodyear – EBITDA tumbled 64 pct, margin at 1.3 pct vs 4.3 pct YoY |
| Abbott India – EBITDA up 17.3 pct, margin at 28.81 pct vs 25.63 pct YoY | Paytm – Company’s KMP gets show-cause notice from SEBI on disclosure norms |
| Black Box – Bags order worth Rs. 12.40 bn from US-based hyperscaler for data center project in US | |
| Sudarshan Chemical – EBITDA jumped 34 pct, margin at 9.8 pct vs 7.7 pct YoY | |
| Titagarh Rail – EBITDA rose 26.7 pct, margin at 12.4 pct vs 11 pct YoY | |
| JSW Infra – Signs concession agreement with Syama Prasad Mookerjee Port Authority, Kolkata | |
| Vascon Engineers – Bags LoI worth Rs. 1.26 bn from PWD, Nagpur for general hospital development | |
| Sun TV – EBITDA up 13 pct, cricket business growth at 30 pct+ YoY including new acquisition | |
| Waterways Leisure – Shareholders approve 1:10 share split | |
| Arvind Ltd – EBITDA climbed 35.4 pct, margin at 9.6 pct vs 8.8 pct YoY | |
| GMR Airports – EBITDA rose 22.5 pct, largely in-line with estimates | |
| Gujarat Pipavav – EBITDA grew 45.3 pct, margin at 64.49 pct vs 58.86 pct YoY | |
| Jio Financial – BofA to acquire 49.9 pct stake as JV partner in Jio Credit for up to Rs. 182.68 bn |
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