Market Commentary
Global markets – US indices closed lower on Friday due to trade war escalation and surging inflation. Dow closed red by 1.0 pct while Nasdaq tumbled by 1.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,303 | -1.0 | 4.1 |
| Nasdaq | 19,523 | -1.4 | 1.1 |
| Hang Seng | 21,403 | 1.3 | 6.7 |
| Nikkei | 38,746 | -0.1 | -2.9 |
Commodities – Gold prices rose and stood at USD 2,873 amid US China trade concern. On the other hand, oil prices stood at USD 75.09/bbl due to tariff risk.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,873 | 0.4 |
| Silver ($) | 31.90 | 0.4 |
| Brent Crude ($) | 75.09 | 0.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,754 | 50,673 |
| 100 DMA | 24,210 | 51,279 |
| 200 DMA | 24,039 | 50,897 |
Asian markets – Asian markets trading mixed in the early trade. Hang Seng jumped 1.3 pct. While Nikkei trading in red by 0.1 pct amid tariff worries.
Indian Indices – India’s equity benchmarks are likely to open muted as gift nifty indicates. Benchmark Indices closed red on Friday as investors expecting deeper rate cuts vs 25 bps rate cuts.
Results Today – Eicher Motors, Apollo Hospitals, Transrail, MTAR Tech
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,860 | -0.3 | -0.4 |
| Nifty | 23,559 | -0.2 | -0.4 |
| Nifty Bank | 50,158 | -0.4 | -1.4 |
| Nifty Midcap 100 | 53,609 | 0.2 | -6.3 |
| Nifty Smallcap 100 | 17,006 | -0.3 | -9.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -470 | -97,554 |
| DII | 454 | 93,866 |
Stocks to watch
Positive Read through
- Wabag – Sales grew 15 pct, JV bags Rs. 32.51 bn order for STP in Riyadh.
- BHEL – LoA for Rs. 80 bn project, LoI for a transmission line project in Rajasthan.
- L&T Finance – To acquire gold loan business of Paul Merchants Finance for Rs. 5.37 bn.
- Axis Max Life – January premium up 9 pct, total APE up 12 pct YoY.
- IRCON – Gets LoA for Kavach project worth Rs. 1.94 bn from Central Railway.
- HDFC Life – January premium jumped 25 pct, retail APE rose 25 pct YoY.
- Fortis Health – Sales increased 15 pct, margin at 19.4 pct vs 17 pct YoY.
- NHPC – EBITDA jumped 35.8 pct, margin at 44.7 pct vs 36.6 pct YoY.
- Cipla – US FDA classifies a Bengaluru manufacturing unit as voluntary action indicated.
- Firstsource – Sales up 8.3 pct, raises FY25 CC Sales guidance to 21.8-22.3 pct.
- Western Carriers – Bags Rs. 10.89 bn order from Vedanta.
- LIC – New business premium, VNB margin ahead of estimates.
- Affle – Margin at 21.80 pct vs 20.80 pct, Sales up 10.8 pct QoQ.
Negative Read through
- Delhivery – Soft performance in a seasonally strong quarter, EBITDA fell 6.3 pct YoY.
- Amara Raja – Operationally weak Q3, margin slips below targeted level of 14 pct.
- SBI Life – January premium fell 37 pct, total APE up 3 pct YoY.
- ICICI Pru – Modest growth on a favourable base, January retail APE up 9 pct YoY.
- Shipping Corp – EBITDA fell 14.3 pct, margin at 27.2 pct vs 31.1 pct YoY.
- Oil India – Posted Q3 below expectations, crude realisation fell 7 pct QoQ vs estimate of 1 pct fall.
- Honeywell Auto – Margin slipped 198 bps, EBITDA declines 12 pct YoY.
- Sun TV – EBITDA fell 24.6 pct, ad Sales tumbled more than 6 pct YoY.
- India Pesticides – EBITDA fell 21 pct, margin at 16.7 pct vs 24 pct YoY.
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