Market Commentary
Global markets
US market closed mixed on Wednesday ahead of big tech earnings. Dow Jones closed down by 0.6 pct. While Nasdaq closed marginally changed.
Asian markets
Asian markets trading lower in the early morning trade. Hang Seng trading negative by 1.2 pct. While Nikkei trading 1 pct in red.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 48,861 | -0.6 | 1.7 |
| Nasdaq | 24,673 | 0.0 | 6.2 |
| Hang Seng | 25,796 | -1.2 | 0.6 |
| Nikkei | 59,304 | -1.0 | 17.7 |
Commodities
Gold prices slid and currently stood at USD 4,567 over intensified inflation concerns and stronger dollar. On the other hand, oil prices stood at USD 112.4/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,567 | 0.5 |
| Silver ($) | 72.33 | 1.4 |
| Brent Crude ($) | 112.4 | -0.2 |
Indian Indices
India’s equity benchmarks are likely to open negative as GIFT Nifty indicates, weighed by surging oil. Benchmark Indices advanced as earnings optimism counters oil surge.
Result Today – Bajaj Finserv, Nalco, NSDL, HUL
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,496 | 0.8 | -9.1 |
| Nifty | 24,177 | 0.8 | -7.5 |
| Nifty Bank | 55,403 | 0.0 | -7.0 |
| Nifty Midcap 100 | 60,376 | -0.1 | -0.2 |
| Nifty Smallcap 100 | 18,093 | 0.7 | 2.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,208 | 58,384 |
| 100 DMA | 24,146 | 56,165 |
| 200 DMA | 23,614 | 54,562 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2,468 | -234,310 |
| DII | 2,262 | 301,016 |
Stocks to watch
| Positive Read through | Negative Read through |
| Force Motors: EBITDA up 26 pct, margin at 16.3 pct vs 14 pct YoY. | Indegene: Net profit down 32.2 pct, margin at 16.3 pct vs 19.5 pct (YoY) |
| Fino Payments Bank: NII up 31.5 pct at Rs. 352 mn vs Rs. 268 mn YoY. | Syngene: EBITDA down 12 pct, margin at 29.3 pct vs 33.8 pct (YoY) |
| Time Techno: Gets nod for Type IV hydrogen cylinders for buses and goods carriers from PESO. | MOIL: Net profit down 20 pct, margin at 31.3 pct vs 32.2 pct (YoY) |
| Brigade Ent: Forms 50:50 JV with Bain Capital for Rs. 22 bn premium Bengaluru project. | OMCS/Paint cos: Crude oil extends up move, Brent tops USD 121/bbl. |
| Puravankara: Arm secures construction contract worth Rs. 1.4 bn. | Motilal Oswal: Operations stable, MTM losses drag company into net loss in Q4. |
| ONGC/OIL: Crude oil extends up move, Brent tops USD 121/bbl. | KFin Tech: Weakness seen across segments, EBITDA down 15 pct QoQ. |
| Bajaj Finance: Q4 results largely in-line, AUM growth continues to remain healthy. | Waaree Energies: EBITDA and margin in-line with expectation, order book declined 11.6 pct QoQ. |
| Mphasis: Q4 results in-line with estimate, net profit up 15.3 pct QoQ. | HEG: Weak Q4; EBITDA loss widens to Rs. 1.49 bn vs Rs. 0.51 bn YoY. |
| Navin Fluorine: Strong Q4 results, EBITDA up 80 pct at Rs. 3.21 bn vs Rs. 1.78 bn YoY. | |
| IIFL Finance: Net profit up 68 pct YoY, sharp decline in provisions, NIM up 30 bps QoQ. | |
| L&T: Signs SPA to sell Hyderabad metro stake for Rs. 14.61 bn. | |
| Jana SFB: Net profit up 13.3 pct, NII rises 26.5 pct at Rs. 7360 mn vs Rs. 5815 mn YoY. | |
| MAS Financial: Net profit up 23.54 pct, NII rises 29 pct at Rs. 2.92 bn vs Rs. 2.26 bn YoY. | |
| RPG Life: EBITDA up 29 pct, margin at 18.6 pct vs 17.8 pct YoY. | |
| Schaeffler India: Net profit up 26 pct, margin at 18.5 pct vs 18 pct YoY. |
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