Market Commentary
Global markets
US indices closed mixed on Friday driven by fall in tech stocks and cooling inflation. Dow Jones closed up by 0.1 pct. While Nasdaq closed lower by 0.2 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading up by 0.2 pct. While Nikkei trading in red by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 49,500 | 0.1 | 3.0 |
| Nasdaq | 22,546 | -0.2 | -3.0 |
| Hang Seng | 26,611 | 0.2 | 3.8 |
| Nikkei | 56,790 | -0.3 | 12.7 |
Commodities
Gold prices fell and currently stood at USD 4,495 over easing inflation. On the other hand, oil prices stood at USD 67.81/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,495 | -1.0 |
| Silver ($) | 75.56 | -2.2 |
| Brent Crude ($) | 67.81 | 0.1 |
Indian Indices
India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices extended losses on Friday driven by sharp selling in IT stocks while fading expectations of a near-term U.S. rate cut also weighed.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,626 | -1.3 | -3.0 |
| Nifty | 25,471 | -1.3 | -2.5 |
| Nifty Bank | 60,186 | -0.9 | 1.0 |
| Nifty Midcap 100 | 59,438 | -1.7 | -1.7 |
| Nifty Smallcap 100 | 17,032 | -1.8 | -3.8 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,764 | 60,433 |
| 100 DMA | 25,547 | 59,962 |
| 200 DMA | 25,594 | 59,736 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -7395 | -44,459 |
| DII | 5553 | 81,849 |
Stocks to watch
| Positive Read through | Negative Read through |
| Shriram Fin – RBI informs MUFG its nod not needed for transaction. | Ola Electric – Sales halves, losses remain elevated. |
| Torrent Pharma – Q3 results in line with estimates, US business grew 12 pct YoY. | Narayana Health – Profit declined 34 pct, margin down over 600 bps YoY. |
| Manappuram Fin – RBI grants approval to Bain Capital for acquiring ~42 pct stake in the company. | Shakti Pumps – EBITDA slipped 62 pct, margin shrank over 1,300 bps YoY. |
| Religare Ent – Board approves company’s demerger into Religare Ent & Religare Finvest. | Zydus Life – Arm Enzene Bio gets Form 483 with 6 procedural observations. |
| Azad Engg – EBITDA jumped 46 pct, margin rose 370 bps YoY. | NBCC – EBITDA slipped 21 pct, margin down 140 bps YoY. |
| Aurobindo Pharma – Gets US FDA nod for new dermatitis ointment with Otsuka Pharma. | |
| Zydus Life – Gets final approval from US FDA for ammonium lactate cream, 12 pct. | |
| BEL – Inks JV with Safran, France for Project Hammer. | |
| Fortis Healthcare – Sales increased 19.4 pct, margin at 21.7 pct vs 20 pct YoY. | |
| Ashoka Buildcon – Gets LoA worth Rs. 4.10 bn from Ministry of Public Work. | |
| Indigo Paints – EBITDA climbed over 19 pct, margin expanded 240 bps YoY. | |
| Indigo Paints – EBITDA up over 19 pct, margin rose 240 bps YoY. | |
| KFin Tech – Profit grew over 2 pct, EBITDA up 16.1 pct | |
| Signature Global – RMZ to acquire 50 pct stake in company’s arm for Rs. 12.8 bn Gurugram project. | |
| Gmr Airports – Sales up 51 pct, passenger traffic up 3.9 pct YoY. | |
| Inox Wind – EBITDA increased over 38 pct, margin at 23.3 pct vs 22.3 pct YoY. | |
| NATCO – Gets approval from CDSCO for semaglutide in India. |
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