Market Commentary
Global markets – The US indices mixed on Monday as participants awaits inflation data, and corporate earnings. Dow grew by 0.9 pct while Nasdaq fell 0.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,297 | 0.9 | -0.6 |
| Nasdaq | 19,088 | -0.4 | -1.1 |
| Hang Seng | 19,048 | 0.9 | -5.0 |
| Nikkei | 38,469 | -1.8 | -3.6 |
Commodities – Gold trading rose above USD 2,669 backed by strong dollar. On the other hand, oil prices rose led by US sanctions on Russia’s oil.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,669 | 0.3 |
| Silver ($) | 29.59 | -0.1 |
| Brent Crude ($) | 80.56 | -0.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,036 | 51,576 |
| 100 DMA | 24,575 | 51,709 |
| 200 DMA | 23,947 | 50,756 |
Asian markets – Asian markets trading mixed in the early trade. Hang Seng grew 0.9 pct amid broad based sector gains. While Nikkei closed red by 1.8.
Indian Indices – India’s equity benchmarks are likely to open positive as GIFT Nifty indicates. Benchmark Indices started this week with big cuts on Monday after an unexpectedly strong U.S. jobs report indicating fewer Federal Reserve rate cuts.
Results Today – HDFC AMC
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,330 | -1.4 | -2.3 |
| Nifty | 23,085 | -1.5 | -2.4 |
| Nifty Bank | 48,041 | -1.4 | -5.5 |
| Nifty Midcap 100 | 52,390 | -4.0 | -8.4 |
| Nifty Smallcap 100 | 16,922 | -4.1 | -9.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4892 | -26,250 |
| DII | 8066 | 32,282 |
Stocks to watch
Positive Read through
- Anand Rathi – Raises FY25 sales and profit guidance; board approves 1:1 bonus issue.
- BEL – Bags additional orders worth Rs. 5.61 bn since last disclosure.
- Adani Energy – Q3 transmission network length up 30 pct, power transformation capacity jumped 54 pct YoY.
- Zee Media – To raise up to Rs. 4 bn; increases FPIs and FIIs shareholding limits to 49 pct.
- Piramal Enterprises – May receive up to USD 200 mn from divested arm Piramal Imaging SA.
- JSW Energy – Wins bid for 3.6 GW KSK Mahanadi Thermal Power Plant under IBC.
- Bajel Projects – Bags supply of goods and services contract from Adani Energy for 2 transmission lines.
- Himadri Specialty – Q3 margin expanded 290 bps, EBITDA rose 27 pct YoY.
- ITI – Bags orders worth Rs. 640 mn for Wi-Fi, LAN, and CCTV.
- JSW Holdings – SEBI approves JSW Cement’s Rs. 40 bn IPO.
Negative Read through
- Delta Corp – Posted weak earnings I a seasonally strong quarter, EBITDA fell 42 pct YoY.
- USL – Hina Nagarajan to step down as MD & CEO, Praveen Someshwar to take over.
- HCL Tech – CC sales growth below estimates, lower end of FY25 sales guidance revised higher.
- Angel One – Q3 margin fell 507 bps, EBITDA declined 26 pct QoQ.
- Den Network – Sales down by 4.5 pct YoY, profit fell by 14.1 pct YoY.
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