Market Commentary
Global markets – US indices ended mixed on Monday as China’s Deep AI model shakes tech companies. Dow closed positive by 0.7 pct while Nasdaq slumped by 3.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,713 | 0.7 | 5.1 |
| Nasdaq | 19,341 | -3.1 | 0.2 |
| Hang Seng | 20,237 | 0.2 | 0.9 |
| Nikkei | 39,340 | -0.6 | -1.4 |
Commodities – Gold prices remain steady and stood at USD 2,740 ahead of Fed rate decision. On the other hand, oil prices stood at USD 77.14/bbl as weak China data raise demand concern.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,740 | 0.1 |
| Silver ($) | 30.05 | -0.4 |
| Brent Crude ($) | 77.14 | 0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,837 | 51,005 |
| 100 DMA | 24,383 | 51,461 |
| 200 DMA | 23,985 | 50,815 |
Asian markets – Most of the Asian markets remains closed today on account of Chinese New Year. Hang Seng trading higher by 0.2 pct. While Nikkei trading lower by 0.6 pct as tech shares follows global trend.
Indian Indices – India’s equity benchmarks are likely to open gap up as Gift Nifty indicates. Benchmark Indices extended their losses due to broad-based sell off amid weak Q3 earnings.
Results Today – Bajaj Auto, Hyundai, TVS Motors, Cipla, Colgate
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,366 | -1.1 | -3.5 |
| Nifty | 22,829 | -1.1 | -3.4 |
| Nifty Bank | 48,064 | -0.6 | -5.5 |
| Nifty Midcap 100 | 51,795 | -2.8 | -9.4 |
| Nifty Smallcap 100 | 16,304 | -3.8 | -13.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -5015 | -74,096 |
| DII | 6642 | 73,587 |
Stocks to watch
Positive Read through
- Tata Power – Arm bags contract worth Rs. 4.55 bn for solar modules.
- Bajaj Housing Finance – AUM jumped 26.05 pct, NII rose 24.9 pct YoY.
- Tata Steel – Cons adjusted EBITDA in-line, Europe business losses narrow QoQ.
- Azad Engineering – Gets purchase order for supercritical turbine components from BHEL.
- Emami – EBITDA grew 7.6 pct, margin 32.3 pct vs 31.6 pct YoY.
- 360 One – Q3 sales growth driven by ARR, buys B&K Securities for Rs. 18.84 bn.
- Coal India – Q3 beats expectations on better realizations and improved operating leverage.
- Wipro – Bags order from Friesland Campina for their IT operations.
- AurionPro – EBITDA jumped 24 pct, sales increased by 32 pct YoY.
- Arvind SmartSpaces – To develop a mega industrial park in Ahmedabad, sales potential Rs. 13.50 bn.
- Mahindra Logistics – EBITDA grew 41.2 pct, margin at 4.6 pct vs 3.7 pct YoY.
- Oriental Rail – Arm bags order worth Rs. 5.75 bn from Indian Railways.
- AB Sun Life – EBITDA rose 41.2 pct, margin at 61.6 pct vs 56.9 pct YoY.
- Updater Services – Profit expanded by 52.2 pct, sales rose 9.3 pct YoY.
Negative Read through
- Kaynes Technology – Q3 below estimates, EBITDA margin at 14.2 pct vs 13.7 pct YoY.
- Paytm – Nakul Jain, MD & CEO of Paytm Payments Services, has resigned.
- Federal Bank – Business momentum at a 14-quarter low, NIM is at an 18-quarter low of 3.11 pct.
- Petronet LNG – Posted mixed set of earnings in Q3, sales fell 6 pct.
- Maharashtra Seamless – EBITDA fell 24.4 pct, margin at 19.9 pct vs 25.9 pct YoY.
- Union Bank – YoY deposit growth lowest in 13 quarters, advances growth lowest in 12 quarters.
- Railtel – EBITDA fell 6.6 pct, margin at 15.8 pct vs 19.4 pct YoY.
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