Market Commentary
Global markets – US indices tumbled on Monday as Trump calls for interest rate cuts. Dow Jones slipped by 2.5 pct. While Nasdaq closed lower by 2.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 38,170 | -2.5 | -10.3 |
| Nasdaq | 15,870 | -2.6 | -17.8 |
| Hang Seng | 21,380 | -0.1 | 6.6 |
| Nikkei | 34,255 | -0.1 | -14.1 |
Commodities – Gold prices rose and stood at USD 3,474, over rising uncertainties. On the other hand, oil prices stood at USD 66.73/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,474 | 1.5 |
| Silver ($) | 32.56 | -0.2 |
| Brent Crude ($) | 66.59 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 22,984 | 49,999 |
| 100 DMA | 23,397 | 50,440 |
| 200 DMA | 24,051 | 51,033 |
Asian markets – Asian markets trading flat in the early morning trade, Hang Seng trading lower by 0.1 pct. While Nikkei trading red by 0.1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as Gift Nifty indicates. Benchmark indices closed higher on Monday led by strong Q4 results in banking stocks that fuelled rally.
Result Today – HCL Tech, Havells, Waaree Energies, Tata Communications.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 79,408 | 1.1 | 1.6 |
| Nifty | 24,125 | 1.1 | 2.0 |
| Nifty Bank | 55,304 | 1.9 | 8.7 |
| Nifty Midcap 100 | 53,974 | 2.5 | -5.6 |
| Nifty Smallcap 100 | 16,773 | 2.2 | -10.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1970 | -162,350 |
| DII | -246 | 210,394 |
Stocks to watch
Positive Read through
- Tata Power – RE arm partners with Tata Motors to set up 131 MW wind-solar hybrid project.
- Banks – RBI has eased LCR norms vs draft, additional run-off rate at 2.5 pct vs proposed 5 pct.
- Gujarat Alkalies – Dispatches 1st consignment of benzyl chloride from Dahej-based new plant.
- Brigade Ent – Joint development agreement for 20-acre plot in Bangalore, GDV of Rs. 1.75 bn.
- Waaree Energies – US imposes duties on Southeast Asian imports of solar cells & panels.
- Anant Raj – EBITDA rose 36.50 pct, margin at 26.30 pct vs 23.60 pct YoY.
- 360 One Wam – UBS deal announced, to issue convertible warrants at Rs. 1,030/warrant.
- Vedanta – Promoter entity enters into a debt agreement for USD 530 mn.
- Steel Cos – Government imposes 12 pct safeguard duty on imports of non-alloy & alloy steel flat products.
- Himadri Speciality – EBITDA jumped 30 pct, margin at 20.60 pct vs 15.30 pct YoY.
- Coal India – MoU with DCV to set up 2×800 MW ultra supercritical power plants in Jharkhand.
- Mahindra Logistics – EBITDA grew 37.30 pct, margin at 5 pct vs 3.9 pct YoY.
- Pitti Engg – EBITDA jumped 54.30 pct, margin at 17.10 pct vs 15.50 pct YoY.
- HG Infra – Bags 300 MW/600 MWh battery energy storage systems project in Gujarat.
Negative Read through
- Rajratan Global Wire – EBITDA down 3.20 pct, margin at 13.3 pct vs 14.4 pct YoY.
- Ola Elec – Maharashtra Transport Department orders closure of 121 of total 450 stores.
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