Market Commentary
Global markets – US equity indices rose on Friday on the back of latest manufacturing data and Federal Reserve’s remarks. Dow closed green by 0.8 pct while Nasdaq jumped 1.8 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,732 | 0.8 | 0.4 |
| Nasdaq | 19,621 | 1.8 | 1.6 |
| Hang Seng | 19,768 | 0.0 | -1.5 |
| Nikkei | 39,394 | -1.3 | -1.3 |
Commodities – Gold trading at USD 2,641 supported by softer dollar. On the other hand, Brent crude gained stood at 76.34 on buoyed by expectations of more stimulus in China.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,641 | 0.1 |
| Silver ($) | 29.62 | 0.2 |
| Brent Crude ($) | 76.34 | -0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,140 | 51,836 |
| 100 DMA | 24,629 | 51,761 |
| 200 DMA | 23,889 | 50,652 |
Asian markets – Asian markets opened marginally higher in early trade Hang Seng rose 0.1 pct While Nikkei trading in red zone, down by 1.3 pct.
Indian Indices – India’s equity benchmarks are likely to open positive as GIFT Nifty indicates. Benchmark Indices tumbled on Friday weighed down by a sell-off in IT and financials.
Indian ADRs: Infosys (0.1%), ICICI Bank (-1.4%) and Dr Reddy’s (-1.5%).
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 79,223 | -0.9 | 1.4 |
| Nifty | 24,004 | -0.8 | 1.5 |
| Nifty Bank | 50,988 | -1.2 | 0.3 |
| Nifty Midcap 100 | 57,931 | -0.3 | 1.3 |
| Nifty Smallcap 100 | 19,033 | -0.2 | 1.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4227 | -4503 |
| DII | 820 | 2533 |
Stocks to watch
Positive Read through
- HDFC Bank – Q3 deposits up 15.8 pct, credit-deposit ratio at 99.18 pct vs 111.53 pct YoY.
- Marico – Delivered mid-teen YoY sales growth in Q3, expects modest EBITDA growth.
- NTPC Green – Arm bags 1,000 MW order in UPPCL’s solar PV power project auction.
- M&M Fin – Q3 disbursals grew 6.1 pct, total assets increased 18.6 pct YoY.
- Angel One – Gross client acquisition up 29.3 pct, client base up 2.6 pct MoM.
- AU SFB – Q3 deposits up 2.34 pct, advances rose 5.2 pct QoQ.
- Bajaj Fin – Q3 new loans jumped 24.5 pct, AUM rose 6.4 pct QoQ.
- Nykaa – Q3 net sales growth likely to be greater than mid-twenties, beauty business growth accelerated.
- Equitas SFB – Q3 deposits up 25.8 pct, advances rose 13.94 pct YoY.
- IEX – December electricity traded volume up 29 pct, day-ahead market volume rose 39 pct YoY.
- HUL – In talks to acquire skincare startup Minimalist for Rs. 30 bn.
- Brigade – To develop residential project in Bengaluru with GDV of Rs. 27 bn.
Negative Read through
- RBL Bank – Q3 deposit growth at 9-quarter low & loan growth at 5-quarter low.
- L&T Fin – Q3 rural business finance disbursals declined 16.2 pct, retail disbursals up 4.4 pct YoY.
- Kotak Mahindra Bank – Milind Nagnur resigns as COO & CTO of the bank w.e.f. February 15, 2025.
- IndusInd Bank – Q3 deposit growth is weakest in 4 years or more, advances grew 12.3 pct YoY.
- JSW Energy – CERC does not adopt proposed tariff of BESS projects won from SECI.
- Andhra Paper – Rajahmundry manufacturing plant ops disrupted due to workers’ strike.
- Dabur – General trade still under pressure, sales growth estimated in low single-digits.
- Premier Explosives – Fire accident in factory, claims life of one person.
- Bandhan Bank – Q3 deposits declined 1.1 pct, CASA declines 5.4 pct QoQ.
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