Market Commentary
Global markets – US indices fell drastically on Thursday as Trump Tariff war ignite global recession fears. Dow slipped by 4.0 pct. While Nasdaq tumbled by 6.0 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 40,545 | -4.0 | -4.7 |
| Nasdaq | 16,550 | -6.0 | -14.3 |
| Hang Seng | 22,849 | -1.5 | 13.9 |
| Nikkei | 33,818 | -2.6 | -15.2 |
Commodities – Gold prices fell and stood at USD 3,093 over profit bookings. On the other hand, oil prices fell dramatically and stood at USD 69.56/bbl after OPEC+ output hike and Trump tariff shock.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,093 | -0.6 |
| Silver ($) | 31.52 | -0.9 |
| Brent Crude ($) | 69.56 | -0.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,006 | 49,438 |
| 100 DMA | 23,456 | 50,331 |
| 200 DMA | 24,080 | 51,030 |
Asian markets – Asian markets trading lower in the early morning trade tracking global peers. Hang Seng closed down by 1.5 pct. While Nikkei tumbled 2.6 pct.
Indian Indices
India’s equity benchmarks are likely to open gap down as Gift Nifty indicates. Benchmark indices closed red on Thursday as US reciprocal tariff triggered pressure in Auto and IT stocks.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,295 | -0.4 | -2.4 |
| Nifty | 23,250 | -0.4 | -1.7 |
| Nifty Bank | 51,597 | 0.5 | 1.4 |
| Nifty Midcap 100 | 52,162 | 0.2 | -8.8 |
| Nifty Smallcap 100 | 16,255 | 0.6 | -13.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2806 | -154,595 |
| DII | 221 | 196,383 |
Stocks to watch
Positive Read through
- Ultratech – Board approves acquisition of Wonder WallCare for an enterprise value of Rs. 2.35 bn.
- Adani Wilmar – 7 pct volume growth and 36 pct revenue growth in Q4.
- Vedanta – FY25 aluminium production grew 2 pct YoY, Q4 zinc international production up 52 pct YoY.
- HDFC Bank – Best deposit growth in 4 quarters and best loan growth in 5 quarters.
- SH Kelkar – FY25 consolidated sales rose 15 pct YoY, have limited export sales to US.
- Bandhan BK – Q4 deposits growth at 7.24 pct, CASA up 6 pct QoQ.
- IEX – Q4 traded electricity volume rose 18 pct, market clearing price in DAM down 9 pct YoY.
- OMCS/Paint Cos – Crude tumbles below USD 70/bbl on OPEC+ output hike, Trump tariffs.
- GR Infra – Wins Rs. 1.06 bn arbitral award with 12 pct interest.
- Avenue Super – Standalone sales rose 16.6 pct, adds 35 stores in Q4.
- Balaji Amines – Commissions 6 MW AC Solar Power Plant.
- Hitachi Energy/BHEL – Consortium secures contract from Rajasthan Part I Power Transmission.
- Surya Roshni – Receives Rs 1.16 bn order from Gail.
Negative Read through
- Mazagon – Government to sell up to 4.83 pct stake via OFS, floor price at 8 pct discount to CMP.
- Angel One – Pace of client acquisition slows down for third straight month.
- L&T Fin – Retail disbursals down 2 pct, retail loans up 3.15 pct QoQ.
- Bajaj Fin – YoY AUM growth weakest in 8 quarters and new loans down 11.13 pct QoQ.
- Yes Bank – Weakest YoY deposit growth in 17 quarters, weakest QoQ loan growth in 6 quarters.
- ONGC/Oil – Crude tumbles below USD 70/bbl on OPEC+ output hike, Trump tariffs.
- RBL Bank – Business growth is weakest in 10-11 quarters, CASA ratio improves.
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