Market Commentary
Global markets – The US indices ended mixed on Wednesday due to Fed meeting minutes. Dow closed higher by 0.3 pct while Nasdaq fell 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,635 | 0.3 | 0.2 |
| Nasdaq | 19,478 | -0.1 | 0.9 |
| Hang Seng | 19,214 | -0.1 | -4.2 |
| Nikkei | 39,411 | -0.5 | -1.2 |
Commodities – Gold trading at USD 2,672, eyes on US payrolls data. On the other hand, oil prices rose in early trade on the back of winter fuel demand.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,672 | -0.0 |
| Silver ($) | 30.22 | 0.4 |
| Brent Crude ($) | 77.07 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,075 | 51,724 |
| 100 DMA | 24,599 | 51,754 |
| 200 DMA | 23,932 | 50,738 |
Asian markets – Asian markets open with marginal weakness. Hang Seng fell 0.1 pct While Nikkei trading lower by 0.5 pct ahead of US job reports.
Indian Indices – India’s equity benchmarks are likely to open red as GIFT Nifty indicates. Benchmark Indices continued their down swing led by weak Q3FY25 earning expectations and continued FII outflow.
Results Today – Just Dial
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,620 | -0.7 | -0.7 |
| Nifty | 23,562 | -0.5 | -0.3 |
| Nifty Bank | 49,503 | -0.7 | -2.7 |
| Nifty Midcap 100 | 55,745 | -0.9 | -2.5 |
| Nifty Smallcap 100 | 18,188 | -1.3 | -3.5 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -7170 | -19,103 |
| DII | 7639 | 20,254 |
Stocks to watch
Positive Read through
- Mazagon Dock – Delivers sixth Scorpene-class submarine Vaghsheer to Indian Navy.
- Godrej Properties – Acquires 24-acre land parcel in Indore, estimated sales potential at Rs. 5 bn.
- IRB Infra – December toll collections up 19 pct YoY at Rs. 5.80 bn versus Rs. 4.88 bn YoY.
- Adani Total – APM gas allocation revised upwards by 20 pct.
- Senores Pharmaceuticals – US FDA ANDA nod for Metoprolol & Hydrochlorothiazide tablets.
- Indegene – CliniOps partners with the company for digital transformation in clinical trials.
- MGL – Domestic gas allocation at APM price to company increased to 51 pct from 37 pct.
- NHPC/PTC – NHPC eyes acquisition of PTC India’s power trading business as per reports.
- Surya Roshni – Bags order worth Rs. 814 mn from BPCL for CGD project on a pan-India basis.
- Phoenix Mills – Q3 consumption grew 21 pct, like-to-like basis consumption increased 10 pct YoY.
- Vodafone Idea – Board approves raising Rs. 19.10 bn at issue price of Rs. 11.3/share.
- Swiggy – Instamart expands to 75+ cities, to launch a parallel standalone app.
Negative Read through
- L&T – Faces backlash after backing chairman’s comments on work hours and a working Sunday.
- SAMIL – To secure Prysm Systems’ assets via public auction; Gen 3 prototype development delayed.
- TCS – Q3 growth muted, but deal wins and commentary remain upbeat.
- IREDA – Asset quality deteriorates; gross NPA grew 30.4 pct and NNPA jumped 53.75% QoQ.
- Tata Elxsi – Q3 constant currency revenue growth flat, profit down 13.3 pct QoQ.
- Adani Wilmar – Promoter to sell 20 pct stake via OFS, floor price at Rs. 275/share.
- GTPL Hathway – Q3 EBITDA declined 12.6 pct, margin at 11.9 pct against 14.2 pct YoY.
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