Market Commentary
Global markets
US market extended rally on Friday driven by strong tech earnings. Dow jones closed green by 0.5 pct while Nasdaq closed positive by 1 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng trading positive by 0.1 pct. While Nikkei trading green by 4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,490 | 0.5 | 9.2 |
| Nasdaq | 25,373 | 1.0 | 9.2 |
| Hang Seng | 25,952 | 0.3 | 1.3 |
| Nikkei | 63,240 | -1.7 | 25.5 |
Commodities
Gold prices rose and currently stood at USD 4,061 on technical rebound. On the other hand, oil prices stood at USD 83.55/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,061 | 0.5 |
| Silver ($) | 58.14 | 1.0 |
| Brent Crude ($) | 83.55 | -8.0 |
Indian Indices
India’s equity benchmarks likely to open gap up as GIFT Nifty indicates. Benchmark indices extended gains on Friday led by Auto stock while upbeat earnings attracted FII’s inflow.
Results Today – SBI Funds, DLF, Ather Energy, KEI Ind
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,094 | 0.2 | -8.4 |
| Nifty | 24,383 | 0.3 | -6.7 |
| Nifty Bank | 57,264 | 0.2 | -3.9 |
| Nifty Midcap 100 | 62,915 | 0.4 | 4.0 |
| Nifty Smallcap 100 | 19,339 | 0.4 | 9.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,903 | 56,634 |
| 100 DMA | 23,815 | 55,691 |
| 200 DMA | 24,778 | 57,443 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -277 | -365,154 |
| DII | 2,260 | 519,527 |
Stocks to watch
| Positive Read through | Negative Read through |
| Mahindra & Mahindra – Both auto and tractor segments reported sales growth of over 20 pct | Maruti Suzuki – Mixed Q1 results, with EBITDA and margins below estimates. |
| Bharat Electronics – Received fresh orders worth Rs. 8.47 bn since last disclosure. | Maruti Suzuki – Mixed Q1 results, with EBITDA and margins below estimates. |
| Hyundai Motor – Reported its highest-ever monthly sales in July, up 25 pct YoY. | ABB India – Q2 margin and Profit missed estimates, with muted margin outlook. |
| Persistent Systems – CC sales growth of 4.1 pct exceeded estimates of 3.2-3.5 pct, while deal wins reached USD 1.15 bn. | IndiGo – To discontinue wide-body operations and terminate its agreement with Norse Atlantic Airways. |
| Banks – RBI said around USD 40 bn of inflows have come through FCNR(B) and forex schemes. | Muthoot Fin – Soft Q1 results, with NII declined 16 pct QoQ. Alexander George appointed as MD |
| NTPC Green/JSW Energy – Government proposed transmission charge relief for delayed renewable energy projects. | Zee Ent – SEBI barred the company from the securities market for two months. Shareholders also did not approve the fund-raising proposal. |
| Biocon – Launched Yesafili commercially in the US, addressing a market size of ~USD 5.98 bn | Clean Science – EBITDA declined 3 pct YoY, with EBITDA margin falling to 36 pct from 41 pct. |
| Sterlite Technologies – Secured a multi-year supply agreement worth Rs. 9.60 bn. | Latent View – Muted QoQ growth, with EBITDA margin at its lowest level since Q2 FY24. |
| Tata Power – APTEL ruled in the company’s favour over MERC’s disallowance of a Rs. 2.68 bn benefit. | Jupiter Life – Profit declined 15 pct YoY, with EBITDA margin falling to 19.3 pct from 22.2 pct. |
| NALCO – Q1 results were in line with estimates, with sales jumped 39 pct YoY. | NMDC – July production increased 31.4 pct, but sales declined 1.7 pct YoY |
| Coal India – July coal production increased 8.4 pct YoY, while offtake rose 17.4 pct YoY. | |
| Hero MotoCorp – July sales were in line with estimates, increasing 19 pct YoY. | |
| Eicher Motors – Strong July sales growth, in line with estimates. | |
| Divi’s Laboratories – Q1 exceeded estimates, with EBITDA margin at a multi-quarter high. | |
| Waaree Energies – Secured an order to supply 740 MW of solar modules by FY28. | |
| Urban Company – Sales increased 44 pct YoY, while net transaction value rose 42 pct YoY. | |
| Concord Bio – EBITDA grew 34 pct YoY, with EBITDA margin expanded to 32 pct Vs 30.1 pct. Management commentary was positive. |
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