Market Commentary
Global markets – US indices closed higher on Wednesday led by Tech stock rally. Dow closed green by 0.3 pct while Nasdaq closed positive by 1.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,156 | 0.3 | 3.8 |
| Nasdaq | 20,009 | 1.3 | 3.6 |
| Hang Seng | 19,858 | 0.4 | -1.0 |
| Nikkei | 39,830 | 0.5 | -0.2 |
Commodities – Gold prices remain steady and stood at USD 2,751 on softer amid Trump policy uncertainty. On the other hand, oil prices fell in and stood at USD 78.75/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,751 | -0.2 |
| Silver ($) | 30.61 | -0.5 |
| Brent Crude ($) | 78.75 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,887 | 51,169 |
| 100 DMA | 24,450 | 51,557 |
| 200 DMA | 23,978 | 50,816 |
Asian markets – Asian markets opened higher and trading green in early trade. Hang Seng rose 0.4 pct. While Nikkei grew by 0.5 pct, rides tech boost.
Indian Indices – India’s equity benchmarks are likely to see flat to negative start as Gift Nifty indicates. Benchmark Indices saw high volatility Wednesday but ended day positive led by rally in IT stocks.
Results Today – Ultratech, Dr. Reddy, Amber Ent
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,404 | 0.7 | -2.2 |
| Nifty | 23,155 | -0.6 | -2.1 |
| Nifty Bank | 48,724 | 0.3 | -4.2 |
| Nifty Midcap 100 | 53,113 | -1.3 | -7.1 |
| Nifty Smallcap 100 | 17,172 | -1.6 | -8.5 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4026 | -60,859 |
| DII | 3640 | 60,830 |
Stocks to watch
Positive Read through
- Persistent Sys – Q3 in line with estimates, Confident on USD 2 bn sales target by the end of FY27.
- HUDCO – Signs MoU with Vadhvan port project to provide funds up to Rs. 250 bn for new ports development.
- Reliance – Arm acquires packaged foods brand SIL Food, MoU worth Rs. 3.05 trillion to invest in Maharashtra.
- Coforge – Posted Q3 CC sales growth at 8.4 pct vs estimate of 4.6 pct, dollar sales up 7.5 pct QoQ.
- HDFC Bank – See signs of moderation in urban demand, rural demand picking up.
- Pidilite – Q3 largely in line with estimates, total volume growth at 9.7 pct vs expected 8-9 pct.
- Paras Defence – Signs MoU with Maharashtra government for an optics park project.
- Hindalco – Alcoa’s Q4 sales jumped 20 pct, adjusted EBITDA excluding special items grew 49 pct QoQ.
- Gravita – Q3 EBITDA grew 13 pct YoY, sales jumped 33 pct YoY.
- Jupiter Wagon – To consider fund raise via equity and debt instruments on January 29.
- Waaree Energies – Starts commercial production of 1.6 GW solar module line in Texas.
- Shiva Cement – To buy steel 1 MTPA cement griding unit from Bhushan Power for Rs. 3.8 bn.
- Zydus – Gets US FDA orphan drug designation for Usnoflast used to treat ALS.
Negative Read through
- HUL – Largely in line with muted estimates, See continued moderation in consumption sentiment.
- Vodafone Idea – Loses 1.50 mn users in November vs loss of 1.98 mn users in October.
- Bharti Airtel – Loses 1.14 mn users in November vs addition of 1.93 mn users in October.
- Allcargo Terminals – December CFS volumes fell 2.5 pct YoY and up 8.4 pct MoM at 51.7 TEUs.
- BPCL – Q3 earnings miss estimates, GRM at USD 5.60 per barrel vs poll of USD 7 per barrel.
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