Market Commentary
Global markets – US indices closed higher on Wednesday over potential reduction in US tariffs on China. Dow Jones rose by 1.1 pct. While Nasdaq closed green by 2.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 39,606 | 1.1 | -6.9 |
| Nasdaq | 16,708 | 2.5 | -13.5 |
| Hang Seng | 21,816 | -1.2 | 8.8 |
| Nikkei | 35,244 | 1.1 | -11.7 |
Commodities – Gold prices rose and stood at USD 3,341, On the other hand, oil prices stood at USD 65.09/bbl over potential OPEC+ output increase.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,341 | 1.6 |
| Silver ($) | 33.38 | -0.6 |
| Brent Crude ($) | 65.09 | -1.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,000 | 50,126 |
| 100 DMA | 23,396 | 50,473 |
| 200 DMA | 24,051 | 51,048 |
Asian markets – Asian markets trading in positive range the early morning trade, largely tracking western peers. Hang Seng trading green by 2.2 pct. While Nikkei trading positive by 1.7 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed positive on Wednesday led by rally in IT stocks after IT major’s positive forecast.
Result Today – Persistent System, Axis Bank, HUL, Nestle, SBI Life
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,116 | 0.7 | 2.5 |
| Nifty | 24,328 | 0.7 | 2.9 |
| Nifty Bank | 55,370 | -0.5 | 8.9 |
| Nifty Midcap 100 | 55,041 | 1.2 | -3.8 |
| Nifty Smallcap 100 | 16,969 | 0.4 | -9.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 3332 | -157,727 |
| DII | -1234 | 208,274 |
Stocks to watch
Positive Read through
- Persistent Sys – CC sales growth above estimates, company optimistic about USD 2 bn sales by FY27.
- Tata Cons – Posted Q4 in-line with estimates, Foods business organic sales up 17 pct YoY.
- SAMHI Hotels – GIC to acquire 35 pct stake in 3 subsidiaries for Rs. 7.52 bn.
- Dalmia Bharat – Q4 largely in-line with estimates, margin at 19.40 pct vs 15.20 pct YoY.
- Bajaj Finance – Board to consider interim dividend, stock split, & bonus issue on April 29.
- Biocon – Board approves fund raise of up to Rs. 45 bn via NCDs, QIP.
- CanFin Homes – NIM at a 4-quarter high of 3.82 pct, disbursements up 6.10 pct YoY/30.65 pct QoQ.
- LTIMindtree – Posted EBIT margin flat, company is confident of Q1 being a growth quarter.
- Thyrocare – EBITDA grew 73 pct, margin at 30.70 pct vs 21.55 pct YoY.
- Adani Green – Inks 1250 MW PPA with UP Power Corp for supply from hydro project.
- BPCL – Signed a JV agreement with GPS Renewables to set up Compressed Biogas plants across India.
- Tips Music – Sales came at Rs. 780 mn Vs Rs. 630 mn YoY, Profit grew 19 pct YoY to Rs. 310 mn.
Negative Read through
- Rallis India – Sales down 1.40 pct, EBITDA loss at Rs. 200 mn vs EBITDA of Rs. 60 mn YoY.
- Bajaj Housing – Q4 below estimates, AUM jumped 25.50 pct YoY & 5.90 pct QoQ.
- Syngene – Q4 sales misses estimates, FY26 sales growth guidance in mid-single-digits.
- Spandana – MD Shalabh Saxena has resigned.
- Supreme Petro – EBITDA declined 17.40 pct, margin at 9.40 pct vs 11.20 pct YoY.
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