Market Commentary
Global markets – US indices closed positive on Monday due to rise in AI related stocks. Dow closed higher by 0.4 pct while Nasdaq rose by 1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,470 | 0.4 | 4.5 |
| Nasdaq | 19,714 | 1.0 | 2.1 |
| Hang Seng | 21,382 | -0.6 | 6.6 |
| Nikkei | 38,800 | 0.0 | -2.7 |
Commodities – Gold prices rose and stood at USD 2,915 over tariff concern. On the other hand, oil prices stood at USD 75.96/bbl as investors digest new US steel, aluminium tariffs.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,915 | 0.3 |
| Silver ($) | 31.81 | -0.5 |
| Brent Crude ($) | 75.96 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,736 | 50,630 |
| 100 DMA | 24,190 | 51,251 |
| 200 DMA | 24,043 | 50,904 |
Asian markets – Asian markets trading muted in the early trade. Hang Seng fell 0.6 pct over global uncertainties. While Nikkei closed flat on Monday.
Indian Indices – India’s equity benchmarks are likely to open flat to positive as Gift Nifty indicates. Benchmark Indices extended loses on Monday over US tariff threats.
Results Today – Lupin, Vodafone Idea, IRCTC
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,311 | -0.7 | -1.1 |
| Nifty | 23,381 | -0.8 | -1.1 |
| Nifty Bank | 49,981 | -0.4 | -1.7 |
| Nifty Midcap 100 | 52,471 | -2.1 | -8.3 |
| Nifty Smallcap 100 | 16,648 | -2.1 | -11.3 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2463 | -100,018 |
| DII | 1515 | 95,381 |
Stocks to watch
Positive Read through
- Apollo Hospitals – Posted Q3 earnings in-line, Apollo Healthco +EBITDA for 5th straight quarter.
- Patanjali – EBITDA jumped 57 pct, margin at 5.9 pct vs 4.3 pct YoY.
- Lupin – US FDA approval for its ANDA Ipratropium Bromide nasal solution.
- ONGC – Signs contract with BP to enhance production from Mumbai High Field.
- Shriram Props – Joint development agreement for land in Chennai, sales potential Rs. 3.50-4 bn.
- Insecticides – EBITDA rose 18.8 pct, margin at 8.6 pct vs 7.3 pct YoY.
- Nykaa – Overall GMV grew 25 pct, beauty business sales rose 27 pct YoY.
- MTAR Tech – EBITDA jumped 38.5 pct, sales rose 47.3 pct YoY.
- Nalco – Posted Q3 above street estimate, margin at 50 pct vs 23 pct YoY.
- RVNL – Lowest bidder for a South Western Railway project worth Rs. 3.35 bn.
- Signature Global – 87 pct of pre-sales guidance for FY25 achieved.
- Ashoka Buildcon – EBITDA up 7 pct, margin at 26.8 pct vs 22.5 pct YoY.
Negative Read through
- Bata – Reported muted sales growth, Profit impacted by one-time VRS expense.
- Galaxy Surfactants – EBITDA fell 6 pct, margin at 10.1 pct vs 12 pct YoY.
- Eicher Motors – Q3 misses estimates, margin at a 7-quarter low.
- Hindalco – Weak Novelis Q3FY25 results, adjusted EBITDA fell 19.2 pct YoY.
- Neuland Labs – EBITDA declined 29 pct, margin at 21.7 pct vs 31 pct YoY.
- Elgi Equip – EBITDA fell 7.7 pct, margin at 14.1 pct vs 15.8 pct YoY.
- Grasim – EBITDA fell 48 pct, margin at 3.3 pct vs 8.2 pct YoY.
- Escorts Kubota – Posted weak Q3 earnings, muted guidance.
- ESAF SFB – Reported loss vs profit YoY, NII fell 18.4 pct QoQ.
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