Market Commentary
Global markets
US market extended rally on Tuesday on AI led earnings and cooling oil prices. Dow jones closed green by 1.7 pct while Nasdaq closed positive by 2.6 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 3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 54,091 | 1.7 | 12.5 |
| Nasdaq | 26,584 | 2.6 | 14.4 |
| Hang Seng | 25,870 | 0.1 | 0.9 |
| Nikkei | 65,860 | 3.0 | 30.7 |
Commodities
Gold prices rose and currently stood at USD 4,133 on softer Dollar and oil prices. On the other hand, oil prices stood at USD 78.40/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,133 | 1.5 |
| Silver ($) | 60.78 | 2.4 |
| Brent Crude ($) | 78.40 | -0.4 |
Indian Indices
India’s equity benchmarks likely to open higher as GIFT Nifty indicates. Benchmark indices closed lower on Tuesday ahead of RBI monetary policy decision.
Results Today – Powergrid, Cummins India, GE Vernova, Aurobindo, Navin Fluorine, Ajax Engineering.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,428 | -0.3 | -8.0 |
| Nifty | 24,614 | -0.3 | -5.8 |
| Nifty Bank | 57,907 | -0.3 | -2.8 |
| Nifty Midcap 100 | 63,491 | -0.3 | 5.0 |
| Nifty Smallcap 100 | 19,635 | 0.2 | 10.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,944 | 56,808 |
| 100 DMA | 23,817 | 55,685 |
| 200 DMA | 24,772 | 57,460 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 2446 | -361,785 |
| DII | -936 | 520,162 |
Stocks to watch
| Positive Read through | Negative Read through |
| Bharti Airtel – Q1 above estimates, India mobile business sales up 3.8 pct QoQ. | Welspun Enterprises – EBITDA fell 17.4 pct, margin at 19.45 pct vs 21.57 pct YoY. |
| Avalon Technologies – Sales jumped 50 pct, margin at 12 pct vs 9.2 pct YoY. | Orkla India – EBITDA flat, margin at 17 pct vs 18.8 pct YoY. |
| Bharti Hexacom – Posted healthy Q1, highest ARPU QoQ growth in six quarters. | Globus Spirits – Launches QIP to raise funds, floor price at Rs. 883.67/share. |
| ONGC – Oil realisation at USD 99.50/bbl vs estimate of USD 92–95/bbl, sales increased 29 pct YoY. | Angel One – Average daily orders fell 12.2 pct MoM, commodity turnover market share fell 405 bps MoM. |
| Uniparts India – EBITDA climbed 56.4 pct, margin at 23.5 pct vs 19 pct YoY. | Protean eGov Technologies – EBITDA tumbled 67 pct, margin at 4.8 pct vs 12 pct QoQ. |
| Sheela Foam – EBITDA grew 44.8 pct, margin at 10.6 pct vs 9.2 pct YoY. | PNB Housing Finance – NIM slipped 19 bps, disbursements down 37 pct QoQ. |
| NHPC – EBITDA up 30.6 pct, margin at 61.8 pct vs 56 pct YoY. | Ventive Hospitality – EBITDA down 7 pct, margin at 36 pct vs 41 pct YoY. |
| Marico – Profit and EBITDA growth highest in 28 quarters, sales up 23 pct YoY. | MCX – Weak QoQ, in line with street expectations. |
| Castrol India – EBITDA jumped 41 pct, margin at 32.03 pct vs 28.44 pct YoY. | |
| UBL – Q1 largely in line, overall volumes up 9 pct vs estimate of 5-8 pct growth. | |
| OMCs / Aviation – Crude slips 5 pct overnight, below USD 80/bbl for the first time since mid-July. | |
| Timken India – EBITDA up 21 pct, margin at 18.8 pct vs 18 pct YoY. | |
| Kalyan Jewellers – EBITDA up 24.5 pct, sales up 45.7 pct YoY. | |
| Nykaa – EBITDA jumped 68 pct, margin at 8.5 pct vs 6.5 pct YoY. |
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