Market Commentary
Global markets – The US indices closed Friday in positive zone as IMF raises 2025 growth outlook of the country. Dow jumped by 0.8 pct while Nasdaq grew 1.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 43,487 | 0.8 | 2.2 |
| Nasdaq | 19,630 | 1.5 | 1.7 |
| Hang Seng | 19,943 | 1.8 | -0.6 |
| Nikkei | 38,948 | 1.3 | -2.4 |
Commodities – Gold prices fell and stood at USD 2,699 as Middle East tension ease. On the other hand, oil prices fell as investors awaits Trump move on over Russia export cuts.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,699 | -0.1 |
| Silver ($) | 30.21 | -0.4 |
| Brent Crude ($) | 80.71 | -0.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,954 | 51,353 |
| 100 DMA | 24,507 | 51,626 |
| 200 DMA | 23,967 | 50,797 |
Asian markets – Asian markets trading higher in the early trade. Hang Seng jumped 1.8 pct. While Nikkei trading positive by 1.3 pct ahead of Trump Inauguration.
Indian Indices – India’s equity benchmarks are likely to open higher largely tracking Asian peers. Benchmark Indices fell on Friday due to worries over recent corporate earnings.
Results Today – Zomato, Dixon Tech, IRFC
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,619 | -0.4 | -1.9 |
| Nifty | 23,203 | -0.4 | -1.9 |
| Nifty Bank | 48,540 | -1.5 | -4.6 |
| Nifty Midcap 100 | 54,607 | 0.2 | -4.5 |
| Nifty Smallcap 100 | 17,672 | 0.2 | -5.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3318 | -46,576 |
| DII | 2572 | 49,367 |
Stocks to watch
Positive Read through
- Ramkrishna Forgings – EBITDA up 5.4 pct; sales rose 7.9 pct YoY.
- Indian Hotels – Posts eleventh consecutive quarter of record performance; EBITDA grew 31 pct YoY.
- L&T – Chosen as preferred EPC partner by UAE-based Masdar for renewable energy project in Abu Dhabi.
- Kotak Mah Bank – Q3 above estimates, NIMat 4.93 pct vs 4.91 pct QoQ.
- Wipro – Q3 CC sales growth beats guidance, margin at highest level since Q3FY22.
- ICICI Lombard – Net earned premium up 17 pct YoY; underwriting loss narrows to Rs. 1.52 bn.
- Hyundai/TVS – To explore partnership for last-mile mobility solutions.
- Hitachi Energy – Board approves fundraise of up to Rs. 42 bn via QIP.
- Tech Mah – CC sales growth at 1.2 pct vs estimate of 0.5 pct, margin expanded 60 bps QoQ.
- Dixon Tech – Subsidiary signs binding MoU with KHY Electronic to buy land and assets for Rs. 1.33 bn.
- Gland Pharma – US FDA issues Establishment Inspection Report for Pashamylaram unit in Hyderabad.
- Zydus Life – Receives US FDA approval to conduct Phase II(b) clinical trial for Usnoflast.
- Jio Financial – Q3 operating profits up 4.7 pct; net income rose 94.2 pct YoY.
- Arvind – Partners with PuriFi for a rejuvenated fibre facility in Gujarat.
- Fortis Health – Acquires an additional 31.52 pct stake in Agilus from two PE investors.
- Ashapura Minechem – Signs MoU with China Railway for bauxite sales and quality assurance.
Negative Read through
- Rallis India – Q3 EBITDA fell 29 pct, margin at 8.4 pct vs 10.4 pct YoY.
- RBL Bank – Posted PBT loss for the 1st time in 14 quarters, NIM at 8 quarters low.
- Chennai Petro – Operationally weak quarter, inventory gains at Rs. 6.32 bn vs loss of Rs. 4.69 bn QoQ.
- Camlin Fine – Gujarat Pollution Control Board Orders closure of operations at Bharuch Unit.
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