Market Commentary
Global markets – US indices ended positive on Tuesday ahead of fed Meeting. Dow closed positive by 0.3 pct while Nasdaq grew by 2.0 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,850 | 0.3 | 5.4 |
| Nasdaq | 19,733 | 2.0 | 2.2 |
| Hang Seng | 20,225 | 0.1 | 0.8 |
| Nikkei | 39,232 | 0.6 | -1.7 |
Commodities – Gold prices remain steady and stood at USD 2,763 eyeing Fed rate decision. On the other hand, oil prices rose and stood at USD 77.55/bbl due to Trump Tariff plans on Canada.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,763 | 0.0 |
| Silver ($) | 30.1 | 0.1 |
| Brent Crude ($) | 77.55 | 0.8 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,826 | 50,980 |
| 100 DMA | 24,361 | 51,436 |
| 200 DMA | 23,987 | 50,816 |
Asian markets – Asian markets trading positive in early morning trade. Hang Seng closed higher by 0.1 pct. While Nikkei trading green by 0.6 pct as largely tracking wall street gains.
Indian Indices – India’s equity benchmarks are likely to open flat to positive as Gift Nifty indicates. Benchmark Indices rebounds on Tuesday led by financials after RBI planning to injects liquidity.
Results Today – Bajaj Finance, Maruti Suzuki, Tata Motors, SRF, Voltas, KPIT Tech, Samhi Hotels
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,901 | 0.7 | -2.9 |
| Nifty | 22,957 | 0.6 | -2.9 |
| Nifty Bank | 48,866 | 1.7 | -3.9 |
| Nifty Midcap 100 | 51,529 | -0.5 | -9.9 |
| Nifty Smallcap 100 | 16,008 | -1.8 | -14.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4920 | -79,016 |
| DII | 6814 | 80,401 |
Stocks to watch
Positive Read through
- Wabag – Won 7 years operations contract of Rs. 1.21 bn from wastewater treatment plant in Bahrain.
- Bajaj Auto – Margin above 20 pct for the 6th straight quarter, outlook healthy.
- Motilal Oswal – Wealth management business NII up 39 pct YoY, distribution AUM rose 38 pct YoY.
- BHEL – Posted Q3 sales above consensus estimate, order book jumped 47 pct YoY.
- CE Info – EBITDA grew 15.3 pct, margin at 36.4 pct vs 39.3 pct YoY.
- Anant Raj – DeepSeek development does not impact company’s business model, data centres demand to rose.’
- Home First – Profit increased 24.1 pct, NII rose 28.4 pct, to raise Rs. 12.50 bn via QIP.
- PTC India Fin – Q3 disbursements jumped 86 pct, Profit rose 33.1 pct YoY.
- NMDC – Plans capex worth Rs. 700 bn in the next 5 years to achieve target of 100 MMTPA by 2030.
- Piramal PH – EBITDA up 25.8 pct, margin at 15.3 pct vs 13.7 pct YoY.
- GMR Airports – EBITDA up 48.3 pct, margin at 37.4 pct vs 30 pct YoY.
- Suzlon – Sales rose 91 pct, margin at 16.8 pct vs 15.9 pct.
- Religare – SEBI returns counter offer made by US investor Digvijay Gaekwad in a letter.
- MGL – Healthy set of earnings, volumes up 2 pct QoQ & up 12 pct YoY.
Negative Read through
- M&M Fin – YoY loan growth lowest in 10 quarters, arm housing finance reports loss.
- JSW Energy – EBITDA declined 17.5 pct, margin at 38.3 pct vs 43.7 pct YoY.
- Exide – Sales & EBITDA miss estimate, margin in-line.
- RR Kabel – EBITDA declined 1.6 pct, margin at 6.2 pct vs 6.8 pct YoY.
- Colgate – Reported Q3 below estimate, margin declined 250 bps YoY.
- Star Health – Operating profit declined 46 pct, posted underwriting loss vs profit YoY.
- VIP Ind – EBITDA declined 45.5 pct, margin at 5.7 pct vs 9.6 pct YoY.
- Bosch – Profit declined 11.6 pct, margin at 13.1 pct vs 13.8 pct YoY.
- JM Financial – Profit declined 21.5 pct, sales declines 0.8 pct YoY.
- SBI Card – Elevated credit cost, at 9.4 pct vs 9 pct QoQ.
- Rane Brake – EBITDA flat, margin at 10 pct vs 11 pct YoY.
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