Market Commentary
Global markets
US markets closed negative on Thursday. Dow jones closed 1.2 pct in red and Nasdaq slipped 1.6 pct, Tech stocks saw weakness.
Asian markets
Asian markets trading mixed in early morning session. Hang Seng trading 1.2 pct in negative, while Nikkei was trading 1.6 pct higher.
| Global Indices | pct Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 48,908 | -1.2 | 1.8 |
| Nasdaq | 22,540 | -1.6 | -3.0 |
| Hang Seng | 26,558 | -1.2 | 3.6 |
| Nikkei | 54,703 | 1.6 | 8.5 |
Commodities
Gold prices slid and currently stood at USD 4,833, driven by heightened geopolitical risks, stronger dollar. On the other hand, oil prices stood at USD 67.71/bbl.
| Commodities pct Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,833 | 1.2 |
| Silver ($) | 72.28 | 2.0 |
| Brent Crude ($) | 67.71 | 0.6 |
Indian Indices
India’s equity benchmarks are likely to open flat ahead of RBI policy decision. Benchmark Indices, Sensex and Nifty, closed 0.6 pct and 0.5 pct in red on Thursday, as selloff in Metal and IT dragged down indices.
Results Today :- CESC, BEML, Tata Steel
| Indian Market | pct Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 83,313 | -0.6 | -2.2 |
| Nifty | 25,642 | -0.5 | -1.9 |
| Nifty Bank | 60,063 | -0.3 | 0.8 |
| Nifty Midcap 100 | 59,517 | -0.3 | -1.6 |
| Nifty Smallcap 100 | 16,983 | -1.3 | -4.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,397 | 59,605 |
| 100 DMA | 25,344 | 59,426 |
| 200 DMA | 25,660 | 59,515 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2,151 | -42,391 |
| DII | 1,130 | 76,230 |
Stocks to watch
| Positive Read through | Negative Read through |
| Bharti Airtel – Q3 in line with estimates; ARPU at Rs 259, up 1.2 pct QoQ. | Tata Motors PV – Q3 misses estimates; JLR sales down 39 pct YoY. |
| LIC – Q3 beats estimates; new business premium up 31.8 pct YoY. | Kaynes Tech – Weak Q3; results below estimates. |
| Hero MotoCorp – Q3 in line with estimates; volumes up 16 pct YoY. | Berger Paints – Profit down 8.1 pct at Rs 2.71 bn vs Rs 2.95 bn, EBITDA flat YoY. |
| Nykaa – Profit at Rs 680 mn vs Rs 264 mn, EBITDA up 63.2 pct YoY. | Kirloskar Brothers – EBITDA down 14.5 pct; margin at 12.7 pct vs 14.5 pct YoY. |
| Hitachi Energy – Profit up 90.5 pct YoY, strong order book in Q3. | NCC – Profit down 36.6 pct, EBITDA down 1 pct at Rs 4.37 bn vs Rs 4.41 bn YoY. |
| Mazagon Dock – Profit and EBITDA up 9 pct each; sales rise 15 pct YoY. | KNR Constructions – Profit down 59 pct, margin at 22.4 pct vs 30.1 pct YoY. |
| Data Patterns – Q3 beats estimates; profit up 30 pct YoY. | |
| PhysicsWallah – Profit up 10 pct, EBITDA up 29 pct at Rs 2.36 bn vs Rs 1.84 bn YoY. | |
| Astral – Sales up over 10 pct, EBITDA up 8.2 pct at Rs 2.38 bn vs Rs 2.20 bn YoY. | |
| Bharti Hexacom – Profit up 81.5 pct, EBITDA up 9 pct at Rs 12.54 bn vs Rs 11.51 bn YoY. | |
| Ultratech Cement – Commissions new 2.7 mtpa grinding capacity in Aligarh, UP. | |
| JK Paper – To invest Rs 5 bn to set up hybrid renewable power plant. | |
| Krsnaa Diagnostics – Sales up 4 pct, EBITDA up 2.7 pct at Rs 463 mn vs Rs 451 mn YoY. | |
| SKF India – Profit down 43.4 pct, EBITDA down 32 pct at Rs 823 mn vs Rs 1.21 bn YoY. | |
| Federal Bank – Gets RBI nod for Blackstone’s 9.99 pct stake buy. |
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