Markets for the week ended with marginal gains to form back-to-back ‘Doji star’ on candlestick as Nifty struggled to sustain above 18130 showing signs of indecisiveness. The lower non-institutional volumes below Rs 20000 crores consistently in the past few days suggests that retail participation has seen a drastic reduction. This poses a risk of major turbulence in the equity markets with sudden selling from FII.
The commodities namely Brent Crude and Copper are on a verge of a major breakout which may see an upsurge of 10-15% in the coming weeks which may force central banks to tighten liquidity in the near term.
On the global front, the setup in equity markets are not encouraging as Dow Jones Index has posted weekly closing below 33600 which opens the scope for a 22% downside. For Indian markets, the focus shifts towards the Union Budget event. But any move below 59,952 in Sensex should be seen as a sign of a major breakdown for opening aggressive short positions.
Nifty 50 Index & Dow Jones in JPY terms
Stocks to watch
Positive Read through
- ICICI Bank NIM at an all-time high of 4.65 pct, operating profit at 15 qtr high.
- Kotak Bank Q3 profit beats expectations, NIM at multi qtr high, deposit growth at 11 qtr high.
- RIL- EBIDTA, Profit above estimates, O2C margin improves, Jio ARPU at Rs 178.2.
- Ultratech Cement- Grey cement volume is up 12 pct YoY, and Q3 revenue is above estimates.
- Reliance Retail acquires footwear and apparel retailer V Retail, under the brand name ‘Centro Style’.
- Adani Enterprises’ arm in defense JV with Aramco JSC in 56 to 44 ratio.
- Glenmark Pharma launches Akynzeo IV in India.
- HPCL will complete the expansion of its Vizag oil refinery to 15 mt per annum by June.
- JSW Steel- Cons EBIDTA, margin beat estimates, standalone EBIDTA/t improves.
- IDFC First Bank- NIM at 6.36 pct vs 5.98 pct QoQ, NII, and Profit above estimates.
- RBL Bank- NIM at 10-qtr high of 4.74 pct, NPA & slippages ratio at 8-9 qtr lows.
Negative Read through
- SBI Life results are below expected, VNB, VNB margin, and profit come in below estimates.
- Yes Bank Q3 results are below expected, asset quality improves QoQ, NIM at 2.5 pct vs 2.6 pct QoQ.
- LTI Mindtree- CC Revenue growth, margin below estimates on high furloughs.
- Bandhan Bank- NIM at multi-qtr lows of 6.5 pct, profit, NII below estimates.
- JSW Energy- EBIDTA down 22.2 pct YoY, margin at 27.8 pct vs 42.1 pct YoY.
- Petronet LNG- EBIDTA, margin below estimates, Q3 number adjusted for use and pay charges.
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or any of its communication cannot be held responsible for it.
