Market Commentary
Global markets – US indices ended positive on Thursday as upbeat commentary from Tesla helped to offset a muted forecast from Microsoft. Dow closed higher by 0.4 pct while Nasdaq grew by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,882 | 0.4 | 5.5 |
| Nasdaq | 19,684 | 0.3 | 1.9 |
| Hang Seng | 20,225 | 0.1 | 0.8 |
| Nikkei | 39,540 | 0.1 | -0.9 |
Commodities – Gold prices rose and stood at USD 2,798 as Trump tariff worries mount. On the other hand, oil prices rose and stood at USD 76.26/bbl amid US tariff threat.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,798 | 0.2 |
| Silver ($) | 31.23 | -1.2 |
| Brent Crude ($) | 76.26 | 0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,816 | 50,931 |
| 100 DMA | 24,325 | 51,401 |
| 200 DMA | 23,992 | 50,821 |
Asian markets – Asian market trading mix in the early morning session. While Nikkei trading higher by 0.1 pct on positive economic data.
Indian Indices – India’s equity benchmarks are likely to open flat as Gift Nifty indicates. Benchmark Indices ended Thursday positive led by heavyweights and banking stocks.
Results Today – Sun pharma, Nestle, UPL, Jyothy Labs
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,759 | 0.3 | -1.8 |
| Nifty | 23,249 | 0.4 | -1.7 |
| Nifty Bank | 49,311 | 0.3 | -3.0 |
| Nifty Midcap 100 | 52,714 | 0.0 | -7.8 |
| Nifty Smallcap 100 | 16,560 | 0.1 | -11.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4582 | -86,186 |
| DII | 2165 | 84,360 |
Stocks to watch
Positive Read through
- Wipro – Wins multi-million-dollar 5-year deal from Etihad for IT transformation.
- Navin Fluorine – Posted Q3 sales in line while Profit, EBITDA margin above poll.
- Tata Cons – Q3 largely in line with expectations, international business margin expands.
- Paradeep – Signs MoU with Odisha government for an investment of Rs. 40 bn.
- Western Carriers – Bags order worth Rs. 1.70 bn from Hindustan Zinc.
- Pricol – EBITDA grew 12 pct, margin at 12 pct vs 11.8 pct YoY.
- PB Fintech – Premium generated jumped 46 pct, sales rose 48 pct YoY.
- NBCC, Solar Ind, Torrent Power, Phoenix Mills – To be included in F&O segment today.
- Shree Cem – Posted Q3 largely above estimate, on track to commission 15 MTPA capacity in Q1FY26.
- Prestige Estates – EBITDA grew 7 pct, margin at 35.7 pct vs 30.7 pct YoY.
- Ircon – JV bags contract worth Rs. 6.31 bn, company’s share at Rs. 1.64 bn.
- Zaggle – Partners with Ekincare for health & wellness wallet for customers.
- Astral – EBITDA up 7 pct, margin at 15.7 pct vs 15 pct YoY.
- Parag Milk – EBITDA up 14 pct, margin at 8.4 pct vs 8 pct YoY.
Negative Read through
- OneSource – Promoter group, TPG affiliate likely to sell shares worth Rs. 12 bn via block deals.
- Praj Ind – EBITDA fell 25.5 pct, margin at 8.5 pct vs 11.8 pct YoY.
- Indegene – EBITDA declined 11.5 pct, margin at 18.2 pct vs 22 pct YoY.
- L&T – Posted Q3 largely below estimate, maintains guidance across all parameters.
- Bank of Baroda – Domestic NIM at 10-quarter low, CASA ratio at 18-quarter low.
- JK Cem – Accident at Panna expansion site given to contractor, 4 casualties & 14 workers injured.
- Tata Tech – Ransomware incident has affected some of their IT assets.
- JSPL – Standalone EBITDA/tonne below estimate, EBITDA down 3 pct YoY.
- Greenlam Ind – EBITDA fell 10.7 pct, margin at 10.6 pct vs 12.6 pct YoY.
- Goa Carbon – Posted loss vs profit, sales down 52.5 pct YoY.
- Concor – EBITDA down 10.1 pct, margin at 21.1 pct vs 23.4 pct YoY.
- Biocon – Q3 miss, margin at 19.6 pct vs 21 pct YoY.
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