Market Commentary
Global markets – US indices closed positive on Wednesday as investors cheers economic data and corporate earnings. Dow closed higher by 0.7 pct while Nasdaq grew by 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,873 | 0.7 | 5.5 |
| Nasdaq | 19,692 | 0.2 | 2.0 |
| Hang Seng | 20,775 | 0.9 | 3.6 |
| Nikkei | 38,887 | 0.1 | -2.5 |
Commodities – Gold prices rose and stood at USD 2,869 on the back of economic and political risk. On the other hand, oil prices stood at USD 74.77/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,869 | 0.1 |
| Silver ($) | 32.26 | -0.1 |
| Brent Crude ($) | 74.77 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,772 | 50,740 |
| 100 DMA | 24,246 | 51,316 |
| 200 DMA | 24,027 | 50,875 |
Asian markets – Asian markets opened with positive note, largely tracking western peers. Hang Seng rose 0.9 pct. While Nikkei trading higher by 0.1 pct.
Indian Indices – India’s equity benchmarks are likely to open positive as gift nifty indicates. Benchmark Indices closed slightly lower on Wednesday weighed by downside pressure in consumer stocks.
Results Today – Bharti Airtel, ITC, Trent, Britannia, Hero MotoCorp, PI Industries, BDL, Cochin Shipyard
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,271 | -0.0 | 0.2 |
| Nifty | 23,696 | -0.2 | 0.2 |
| Nifty Bank | 50,343 | 0.4 | -1.0 |
| Nifty Midcap 100 | 54,180 | 0.7 | -5.3 |
| Nifty Smallcap 100 | 17,108 | 1.8 | -8.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1682 | -93,534 |
| DII | 996 | 90,690 |
Stocks to watch
Positive Read through
- Cummins – Q3 beat across the board, posts highest-ever quarterly Sales.
- Aarti Pharma – Reported margin at 23.88 pct vs 21.40 pct, profit up 39.6 pct YoY.
- Welspun Corp – Margin at 12 pct vs 11.6 pct, on track to beat full-year EBITDA & ROCE guidance.
- Azad Engg – Deal with Rolls-Royce PLC, London to produce civil aircraft engine components.
- Medi Assist – EBITDA rose 17.4 pct, margin at 21.4 pct vs 20.5 pct YoY.
- Swiggy – Mixed Q3, strong performance in food delivery offset by higher investment/losses in QC.
- Ultratech – Additional 0.6 MTPA grinding capacity at West Bengal’s Sonar Bangla unit.
- Redington – Margin at 12 pct vs 11.6 pct, on track to beat full-year EBITDA & ROCE guidance.
- HG Infra – EBITDA up 25.7 pct, margin at 22.7 pct vs 16.7 pct YoY.
- Sagility – CC Sales growth up 9 pct, EBITDA rises 430 bps QoQ.
- CGL Products – EBITDA grew 12.1 pct, Sales rises 14.1 pct YoY.
- M&M – Mahindra Electric origin SUVs to Open bookings for All 9 variants on 14 February, 2025.
- Apollo Micro – In Consortium Agreement with Redon Systems to collaborate on a manufacturing partnership.
Negative Read through
- IT – Cognizant’s CY25 guidance falls short of estimates, Q4 strong.
- Data Patterns – Q3 miss on street estimates, sales falls for second consecutive quarter.
- Guj Gas – Mixed Q3, operating numbers miss estimates, volume growth in guided range.
- GE Vernova – Q3 largely below estimates, profit above estimates partly aided by tax.
- Kansai Nerolac – EBITDA fell 3.7 pct, margin at 12.2 pct vs 12.7 pct YoY.
- Sula Vineyards – EBITDA slipped 26.2 pct, margin at 26.5 pct vs 35.4 pct YoY.
- JK Tyre – Posted Q3 weak as expected, material costs weigh on earnings.
- Matrimony – Margin at 12.3 pct vs 14.1 pct, Sales fell 5 pct YoY.
- CMS Info – Sales tumbled 6.9 pct, profit rose 2.5 pct QoQ.
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