Market Commentary
Global markets
US market closed mixed on Friday amid uncertain geopolitical development while big tech stocks pressured Nasdaq. Dow Jones closed up by 0.5 pct and Nasdaq closed negative by 0.6 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading higher by 0.8 pct. While Nikkei trading red by 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 51,592 | 0.5 | 8.1 |
| Nasdaq | 24,975 | -0.6 | 7.5 |
| Hang Seng | 25,165 | 0.8 | -1.8 |
| Nikkei | 64,763 | -0.2 | 28.5 |
Commodities
Gold prices rose and currently stood at USD 4,092 on easing oil prices. On the other hand, oil prices stood at USD 88.26/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,092 | 1.0 |
| Silver ($) | 59.29 | 2.0 |
| Brent Crude ($) | 88.26 | -10.0 |
Indian Indices
India’s equity benchmarks likely to open gap up as GIFT Nifty indicates. Benchmark indices closed negative on Friday, due to escalating geopolitical developments keeping oil prices higher
Results Today – BEL, Coal India, Tata Power, Coforge, RR Kabel, Tata Chemical, CCL Products, Gravita India
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,059 | -0.4 | -10.8 |
| Nifty | 23,767 | -0.4 | -9.0 |
| Nifty Bank | 56,693 | 0.2 | -4.8 |
| Nifty Midcap 100 | 61,622 | -0.1 | 1.9 |
| Nifty Smallcap 100 | 18,874 | -0.3 | 6.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,850 | 56,294 |
| 100 DMA | 23,861 | 55,852 |
| 200 DMA | 24,798 | 57,413 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3,892 | -365,061 |
| DII | 5,453 | 508,651 |
Stocks to watch
| Positive Read through | Negative Read through |
| Aurobindo Pharma – Signs non-exclusive voluntary licence agreement with MSD. | 3M India / Welspun Living – Gujarat rains impact operations. |
| Waaree Renew Tech – Bags EPC orders for 800 MWac solar PV projects. | Birla Corporation – Profit fell 3.2 pct, margin contracts to 12.9 pct from 14.1 pct YoY. |
| Sarda Energy – Board approves Rs. 3 bn capex for Vizianagaram facility. | Piramal Pharma / Indo Count / Zydus Life – Gujarat rains impact operations. |
| Lemon Tree – Receives extension of validity of LoA from DDA for Aurika, Nehru Place operations. | Patanjali – Recall order issued for a batch of wheat flour due to pesticide residues exceeding permissible limits. |
| Sigma Advanced – Bags Rs. 10.13 bn export order for 155 mm base bleed artillery shells. | Rec – Disbursements declined 60.5 pct, NIM at 3.34 pct vs 3.43 pct QoQ. |
| Orient Technologies – Bags Rs. 760 mn order from NPCI. | Bank of Baroda – NIM declined 14 bps YoY, slippage ratio rose QoQ. |
| NBCC – Bags construction orders worth Rs. 1.09 bn | New India Assurance – Underwriting loss widens 34 pct, combined ratio increases by 528 bps |
| Tata Consumer – Strong Q1, India business volume growth at 13 pct vs expected 8-9 pct. | Shree Digvijay Cement – Profit declined 50 pct, margin falls to 8.66 pct from 12.14 pct YoY |
| NTPC – Q1 above estimates, EBITDA margin expanded to 28.8 pct from 24.2 pct YoY. | Zen Tech – EBITDA declined 40.2 pct, margin contracts to 27.3 pct from 40.9 pct YoY. |
| Creditaccess – Strong quarter with better margins, lower credit costs and improving asset quality. | Dodla Dairy – EBITDA fell 21 pct, margin declined to 5.4 pct from 8.2 pct YoY. |
| Neogen Chemicals – EBITDA jumped 53 pct, sales rose 37 pct YoY. | Shakti Pumps – EBITDA down 42 pct, margin slipped to 10 pct from 23 pct YoY. |
| SBI Cards – Credit cost improves to 6.5 pct from 7.7 pct QoQ; revolver rate remains steady. | KFin Technologies – Higher costs weigh on profitability; EBITDA down 5 pct QoQ. |
| Lodha – Q1 pre-sales growth in low single digits; P&L supported by data centre business. | Concor – Soft Q1 with flat sales YoY and weaker margins. |
| Jindal Steel – Q1 above estimates, EBITDA/tonne at Rs. 11,937 vs poll estimate of Rs. 11,700. | |
| IDFC First Bank – Strong growth, improving asset quality and lower credit costs remain key positives. | |
| Vedant Fashions – EBITDA grew 8.6 pct, margin improves to 43.5 pct from 42.9 pct YoY. | |
| AU SFB – Strong earnings and healthy business growth, though NIM moderates QoQ. |
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