Market Commentary
Global markets – US indices closed mixed on Tuesday ahead of inflation data. Dow closed higher by 0.3 pct while Nasdaq slipped by 0.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,593 | 0.3 | 4.8 |
| Nasdaq | 19,643 | -0.4 | 1.7 |
| Hang Seng | 21,732 | 2.1 | 8.3 |
| Nikkei | 38,863 | 0.2 | -2.6 |
Commodities – Gold prices steady and stood at USD 2,888 over upcoming US CPI data. On the other hand, oil prices retreat and stood at USD 76.79/bbl after US crude stockpile rise.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,888 | -0.3 |
| Silver ($) | 31.84 | 0.1 |
| Brent Crude ($) | 76.79 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,708 | 50,563 |
| 100 DMA | 24,166 | 51,214 |
| 200 DMA | 24,046 | 50,910 |
Asian markets – Asian markets trading positive amid global macro challenges. Hang Seng rose 2.1 pct. While Nikkei trading positive by 0.2 pct.
Indian Indices – India’s equity benchmarks are likely to open flat to positive as Gift Nifty indicates. Benchmark Indices slumped on Tuesday over US tariff uncertainty and earning worries.
Results Today – HAL, Siemens, PFC, Ashok Leyland, Bharat Forge, Kirloskar Brothers.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,293 | -1.3 | -2.4 |
| Nifty | 23,071 | -1.3 | -2.4 |
| Nifty Bank | 49,403 | -1.2 | -2.9 |
| Nifty Midcap 100 | 50,887 | -3.0 | -11.0 |
| Nifty Smallcap 100 | 16,074 | -3.4 | -14.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4486 | -104,504 |
| DII | 4001 | 99,383 |
Stocks to watch
Positive Read through
- Lupin – Margin slightly better than guidance, India business growth at approximately 12 pct YoY.
- AIL – Sales volumes grew 16 pct, sales up 5 pct YoY.
- Happy Forgings – Joint development agreement for land in Chennai, sales potential Rs. 3.50-4 bn.
- Cyient DLM – Production contract with Boeing for precision-machined parts & assemblies.
- Jupiter Wagons – Gets LoA for order worth Rs. 6 bn from Ambuja Cements & ACC.
- Berger Paints – Industry-leading volume growth at 7.4 pct, gains market share in Q3.
- BHEL – Gets LoI for a project worth Rs. 62 bn from Damodar Valley Corporation.
- NBCC – EBITDA jumped 22 pct, sales rose 16.6 pct YoY.
- HG Infra – JV bags LoA for project worth Rs. 21.96 bn from Rail Land Development Authority.
- BEML – MoU with STX Engine, South Korea, to make & market battle tank engines.
- IRCTC – Sales grew 9.8pct, EBITDA rose 6pct YoY.
Negative Read through
- Gopal Snacks – EBITDA fell 56 pct, margin at 3.9 pct vs 9.6 pct YoY.
- Bayer Crop – EBITDA tumbled 35.5 pct, margin at 17.9 pct vs 30.7 pct YoY.
- Huhtamaki – EBITDA slipped 57.5 pct, margin at 4.2 pct vs 10.2 pct YoY.
- Voda Idea – Subscriber losses continue, sales misses estimate.
- Birlasoft – Margin at 12 pct vs 12.1 pct, sales fell 1.1 pct QoQ.
- Kirloskar Oil – Profit declined by 20.6 pct, margin flat YoY.
- EID Parry – Posted EBITDA loss vs EBITDA, gross margin fell 1,043 bps YoY.
- Gensol Engg – Profit fell 6.1 pct, margin at 18.1 pct vs 19.6 pct YoY.
- Cello World – EBITDA declined 3.7 pct, margin at 23 pct vs 25 pct YoY.
- IRCON – Sales fell 11 pct, margin at 5.1 pct vs 8.8 pct YoY.
- HEG – EBITDA fell 7.7 pct, sales declined 14.9 pct YoY.
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