Market Commentary
Global markets
US market closed Mixed on Wednesday led by AI chip rally but gains capped by low rate cut hopes. Dow Jones closed down by 0.1 pct. While Nasdaq closed green by 1.2 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng trading positive by 0.6 pct. While Nikkei trading higher by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 49,697 | -0.1 | 3.4 |
| Nasdaq | 26,402 | 1.2 | 13.6 |
| Hang Seng | 26,551 | 0.6 | 3.6 |
| Nikkei | 63,448 | 0.3 | 25.9 |
Commodities
Gold prices remain flat and currently stood at USD 4,686 over rate hike fears. On the other hand, oil prices stood at USD 106.00/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,686 | -0.0 |
| Silver ($) | 87.10 | -0.5 |
| Brent Crude ($) | 106.00 | 0.3 |
Indian Indices
India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates. Benchmark Indices recovered on Wednesday though elevated crude prices and persistent foreign outflows capped the upside.
Result Today – JSW Steel, HAL, TMPV, Unites Spirits, Voltas
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,608 | 0.1 | -12.5 |
| Nifty | 23,412 | 0.1 | -10.4 |
| Nifty Bank | 53,456 | -0.2 | -10.3 |
| Nifty Midcap 100 | 60,164 | 0.8 | -0.5 |
| Nifty Smallcap 100 | 17,994 | 0.3 | 1.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,872 | 55,409 |
| 100 DMA | 24,798 | 57,605 |
| 200 DMA | 25,047 | 57,146 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4703 | -265,530 |
| DII | 5869 | 345,695 |
Stocks to watch
| Positive Read through | Negative Read through |
| Interarch – MoU with ER steel, Canada for collaboration in steel business across Canada, NA | Sun Pharma – Voluntary recall of Doxorubicin in US due to potential presence of glass particles |
| Metropolis – EBITDA jumped 73.4 pct, margin at 25.4 pct vs 18 pct YoY | Bharti Airtel – Q4 in-line, promoter stake buy in Airtel Africa via share swap |
| Zydus Life – Eyes buyback, to buy US oncology player Assertio for USD 166 mn | Tamo CV – Good Q4, cautious outlook, commodity headwinds significantly higher in Q1 |
| Oil India – Margin at 30.5 pct vs 26.6 pct, EBITDA up 39 pct QoQ | Man Infra – EBITDA declined 82.2 pct, margin at 13 pct vs 36.2 pct YoY |
| Max Estates – Launches project in Dwarka, NCR with Rs. 12 gross development value | Sugar Producers – Government bans export of sugar till September 2026 |
| Bharti Hexa – Steady Q4, Sales increased 2.3 pct QoQ | Kaynes Tech – Weak Q4, misses its own sales growth guidance |
| Crompton – Q4 in-line with estimates, sales up 11 pct YoY | DCM Shriram – EBITDA down 12.9 pct, margin at 10.5 pct vs 13.4 pct YoY |
| NBCC – Bags work order worth Rs. 1.31 bn from Central Bank Of India, AP | DLF – Meets lower end of FY26 pre-sales guidance, EBITDA fell 58 pct YoY |
| PNC Infratech – JV declared lowest bidder for project worth Rs. 5.72 bn | SKF – Posted loss vs profit, impacted by industrial demerger |
| LIC Housing Finance – Q4 an operational beat, but loan growth remains soft | |
| GR Infra – Gets provisional completion certificate for Rs. 9.27 bn HAM project |
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