Market Commentary
Global markets – US indices rebounded on Friday due to rare earth minerals negotiation breakdown between US and Ukraine. Dow closed in positive by 1.4 pct while Nasdaq closed green by 1.6 pct.
Commodities – Gold prices rose and stood at USD 2,866 over Trump tariff concern. On the other hand, oil prices stood at USD 73.28/bbl on strong China data.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,866 | 0.3 |
| Silver ($) | 31.29 | 0.6 |
| Brent Crude ($) | 73.28 | 0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,327 | 49,643 |
| 100 DMA | 23,851 | 50,777 |
| 200 DMA | 24,073 | 50,947 |
Asian markets – Asian markets trading positive in early morning led by favourable macro. Hang Seng jumped by 1.5 pct. While Nikkei trading higher by 1.1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat to positive as Gift Nifty indicates. Benchmark indices extended loses on Friday led by broad based selling, pressured by global trade war concern.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 73,198 | -1.9 | -6.3 |
| Nifty | 22,124 | -1.9 | -6.4 |
| Nifty Bank | 48,344 | -0.8 | -4.9 |
| Nifty Midcap 100 | 47,915 | -2.5 | -16.2 |
| Nifty Smallcap 100 | 14,700 | -3.0 | -21.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -11639 | -146,363 |
| DII | 12308 | 151,445 |
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 43,840 | 1.4 | 3.0 |
| Nasdaq | 18,847 | 1.6 | -2.4 |
| Hang Seng | 23,292 | 1.5 | 16.1 |
| Nikkei | 37,579 | 1.1 | -5.8 |
Stocks to watch
Positive Read through
- UltraTech – C&W is a strategic diversification targeting higher customer wallet share.
- AB Real Estate – Secures booking value of Rs. 5 bn for Phase 3 of Birla Trimaya in Bengaluru.
- M&M – Posted both auto & tractor sales higher than estimates.
- Eicher Motors – Healthy set of numbers from Royal Enfield, total sales up 19 pct YoY.
- TVS Motor – Sales higher than estimates led by exports, total sales grew 10 pct & international sales rose 26 pct YoY.
- Escorts Kubota – Total tractor sales up 11.4 pct at 8,590 units vs 7,709 units YoY.
- SML Isuzu – Total sales jumped 27.5 pct at 1,288 units vs 1,010 units YoY.
- GMR Airports – Delhi airport seeks higher user development fee.
- NCC – Bags orders worth Rs. 2.19 bn in February 2025.
- Ujjivan SFB – Sells Rs. 3.65 bn stressed loan portfolio to ARC for Rs. 343 mn.
- Dalmia Bharat – Will add 6 MTPA cement capacity in Maharashtra & Karnataka.
- NLC India – secures 200 MW Wind Power Project from SJVN at `3.74/kWh.
- Ashok Leyland – Delhi to get over 1,000 electric buses this month.
- TVS SCS – Received NSE nod for merger with five subsidiaries; awaits NCLT approval.
Negative Read through
- Hyundai – Domestic sales dragged numbers, exports up 7 pct while domestic slips 5 pct.
- Tata Motors – Most segments dropped; domestic sales slipped 9 pct & CV 7 pct.
- Maruti – Sales miss estimates as entry-level segment sees a drop in sales.
- Piramal Ent – GST demand order of Rs. 15.02 bn for 2020-21.
- Paytm – Show cause notice from ED over alleged FEMA violations worth Rs. 6.11 Bn.
- Hero Moto – Posted weak set of numbers, total sales declined 17 pct YoY.
- IOB – Gets GST liability demand of Rs. 7 Bn for 2020-21.
- MSTC – Gets Income Tax demand order of Rs. 1.05 bn for 2019-20.
- Coal India – February production fell 1 pct & sales declined 5 pct YoY.
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