Market Commentary
Global markets – US indices closed lower on Wednesday over FED’s Powell slowing economy outlook and sell off in Technology stocks. Dow Jones slipped by 1.7 pct. While Nasdaq cracked by 3.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 39,669 | -1.7 | -6.8 |
| Nasdaq | 16,307 | -3.1 | -15.6 |
| Hang Seng | 21,327 | 1.3 | 6.3 |
| Nikkei | 34,212 | 0.9 | -14.2 |
Commodities – Gold prices rose and stood at USD 3,339, over US – China Trade war. On the other hand, oil prices stood at USD 66.34/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,339 | -0.0 |
| Silver ($) | 32.41 | -1.0 |
| Brent Crude ($) | 66.35 | 0.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 22,964 | 49,789 |
| 100 DMA | 23,390 | 50,359 |
| 200 DMA | 24,051 | 51,011 |
Asian markets – Asian markets trading positive in the early morning trade, Hang Seng jumped by 1.3 pct. While Nikkei trading higher by 0.9 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as Gift Nifty indicates. Benchmark indices rallied 3rd straight sessions and marked their end positive on Wednesday, supported by rally in Financials.
Result Today – Infosys, HDFC Life, Tata Elxsi, HDFC AMC
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,044 | 0.4 | -1.4 |
| Nifty | 23,437 | 0.5 | -0.9 |
| Nifty Bank | 53,117 | 1.4 | 4.4 |
| Nifty Midcap 100 | 52,345 | 0.7 | -8.5 |
| Nifty Smallcap 100 | 16,349 | 1.1 | -12.9 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 3936 | -168,988 |
| DII | -2512 | 212,154 |
Stocks to watch
Positive Read through
- SBI Cards – Partners with Tata Digital to launch Tata Neu SBI Card.
- BHEL – Signs electrolyser systems tech transfer agreement with BARC.
- Glenmark – US arm to launch mixed salts of amphetamine product; annual drug sales USD 421.7 min.
- Tanla – Partnered with 2 overseas telcos to deploy its messaging as a platform in Q1.
- DLF – To sell its IT/ITeS SEZ land & building in Kolkata to Srijan Group for Rs. 6.93 bn.
- Waaree Re – Sales grew 74 pct, EBITDA rose 68 pct YoY.
- IRFC – Madras High Court sets aside GST demand order of Rs. 2.30 bn.
- 360 One – Board meets on April 22 to consider proposal of issuing equity shares or warrants.
- Tata Steel – Nederland subsidiary launches major revamp to boost efficiency and profitability..
- Banco Products – Established NRF Romania S.R.L., marking a key step in its expansion in Romania.
- Swaraj Eng – To expand engine manufacturing capacity from 0.19 mn to 0.24 mn units annually.
Negative Read through
- Paytm – Vijay Shekhar Sharma foregoes ESOPs to allay SEBI concerns, Q4 to see impact.
- Dalmia Bharat – Arm gets attachment order from ED for land valued at near Rs. 7.93 bn.
- Wipro – Posted Q4 below estimate, Q1FY26 CC sales growth guidance at -3.5 pct to -1.5 pct.
- Prestige Estates – Q4 pre-sales up 48 pct but misses FY25 pre-sales guidance by 26 pct.
- Angel One – Weak Q4, market share in equity, F&O and commodity declines.
- Hero Moto – Production temporarily paused from April 17–19 at 4 manufacturing plants.
- Metropolis – Completion of acquisition of Dr. Ashok Kumar Sharma’s scientific pathology delayed.
- Puravankara – Q4 collections declined 5 pct, pre-sales rose 1.34 pct QoQ.
- Sonata Soft – Warns of lower international business revenue in Q4 from top client.
- GTPL Hathway – EBITDA declined 5.60 pct, margin at 12 pct vs 14 pct YoY.
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