Market Commentary
Global markets
US market closed positive on Wednesday while Dollar and bond yield declined. Dow Jones closed up by 0.3 pct and Nasdaq closed higher by 0.6 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading positive by 1.6 pct. While Nikkei trading red by 2.8 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,664 | 0.3 | 9.6 |
| Nasdaq | 26,268 | 0.6 | 13.0 |
| Hang Seng | 25,084 | 1.6 | 4.1 |
| Nikkei | 66,796 | -2.8 | 9.3 |
Commodities
Gold prices fell and currently stood at USD 4,031 over Middle East escalation. On the other hand, oil prices stood at USD 85.17/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,031 | -0.7 |
| Silver ($) | 56.96 | -1.3 |
| Brent Crude ($) | 85.17 | 0.1 |
Indian Indices
India’s equity benchmarks likely to open positive as GIFT Nifty indicates. Benchmark indices recovered on Wednesday led by Financials, Auto and Cements stocks while US-Iran tension capped gains.
Results Today – Wipro, BHEL, Polycab
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,185 | 0.2 | -9.4 |
| Nifty | 24,078 | 0.1 | -7.8 |
| Nifty Bank | 57,757 | 0.5 | -3.1 |
| Nifty Midcap 100 | 62,943 | 0.3 | 4.1 |
| Nifty Smallcap 100 | 19,355 | 0.7 | 9.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,830 | 55,913 |
| 100 DMA | 23,970 | 56,107 |
| 200 DMA | 24,827 | 57,323 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -735 | -353,297 |
| DII | 704 | 496,010 |
Stocks to watch
| Positive Read through | Negative Read through |
| Powerica – Secured a 100 MW wind project from SECI’s wind power tender. | ICICI Lombard – Combined ratio worsened to 107.2 pct from 102.9 pct, while RoAE declined to 9.6 pct. |
| NTPC Green – ONGC-NTPC Green won a 50 MW wind project tender at a tariff of Rs. 3.85/kWh. | GMR Airports – June passenger traffic declined 0.3 pct YoY and aircraft movements fell 2.4 pct. |
| Adani Power – Signed a power supply agreement for long-term supply of 1,600 MW thermal power. | GTPL Hathway – EBITDA declined 2.8 pct YoY, with margin contracting to 10.7 pct from 12.4 pct. |
| HDFC Bank – Received RBI approval to appoint Rajiv Kumar as Part-Time Chairman. | Ather Energy – Likely to raise up to Rs. 13 bn through QIP at an issue price of a 7.4 pct discount to CMP. |
| Brigade Ent – Approved preferential issue of warrants to promoters for ~1 pct stake of Rs. 1.8 bn | MRPL – EBITDA fell 26 pct, with margin declining to 3.4 pct from 7.5 pct |
| Network 18 – Consolidated EBITDA surged 80 pct YoY, marking the 4th consecutive quarter of growth. | |
| TVS Holdings – Subsidiary Home Credit India to acquire Varthana Finance for Rs. 9.67 bn | |
| Emmvee – EBITDA grew 56.4 pct and margin improved to 35.2 pct from 34.1 pct YoY. | |
| Knack Packaging – Sub-leased factory land and building from Dayana for a 5,040 TPA expansion | |
| India Pesticides – Received technical equivalence approval in the European Union for one of its fungicide products. | |
| Angel One – Q1 results largely in line with estimates despite client acquisition declining 26 pct QoQ. | |
| ICICI Pru Life – Clarified that Prudential is not required to sell its stake in ICICI Prudential Life under IRDAI norms. | |
| Jana SFB – NII grew 33.6 pct, while gross NPA improved to 2.39 pct from 2.46 pct QoQ. | |
| Amara Raja – Commissioned a customer qualification plant at its Giga Corridor in Telangana. | |
| Himadri Speciality Chemical – EBITDA increased 17 pct while sales jumped 28 pct YoY | |
| HDB Financial Services – Reported a strong quarter driven by margin expansion and profit growth. | |
| ACME Solar Holdings – Commissioned a 110.336 MWh BESS project in Rajasthan. |
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