Market Commentary
Global markets – US indices closed mixed on Thursday as investors assessed the labour market report and awaited the official job report. Dow closed lower by 0.3 pct while Nasdaq grew by 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,747 | -0.3 | 5.2 |
| Nasdaq | 19,791 | 0.5 | 2.5 |
| Hang Seng | 21,092 | 1.0 | 5.1 |
| Nikkei | 38,893 | -0.4 | -2.5 |
Commodities – Gold prices rose and stood at USD 2,867 as trade war triggered demand for safe haven commodity. On the other hand, oil prices stood at USD 74.62/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,867 | 0.4 |
| Silver ($) | 32.26 | 0.2 |
| Brent Crude ($) | 74.62 | 0.5 |
| 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 trading mixed in the early trade. Hang Seng jumped 0.9 pct. While Nikkei trading lower by 0.4 pct amid strong spending data.
Indian Indices – India’s equity benchmarks are likely to open flat as gift nifty indicates while RBI MPC decision may add volatility. Benchmark Indices closed lower on Thursday ahead of RBI MPC decision.
Results Today – M&M, Mazagon Dock, Wabag, Dreamfolks
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,058 | -0.3 | -0.1 |
| Nifty | 23,603 | -0.4 | -0.2 |
| Nifty Bank | 50,382 | 0.1 | -0.9 |
| Nifty Midcap 100 | 53,500 | -1.3 | -6.5 |
| Nifty Smallcap 100 | 17,056 | -0.3 | -9.1 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3549 | -97,084 |
| DII | 2721 | 93,412 |
Stocks to watch
Positive Read through
- Hero Moto – Posted Q3 better than expectations, realisation improves both QoQ & YoY.
- Biocon – Equillium & Co announce positive data from phase 2 study of Itolizumab.
- Bharti Airtel – Margin in-line with estimates, ARPU up 5.1 pct QoQ.
- Britannia – Q3 beat across all parameters, domestic volume growth at 6 pct.
- Bharti Hexa – Margin at 53 pct vs 50 pct, sales rose 7.3 pct QoQ.
- ITC – 5-6 pct cigarette volume growth vs estimates of 3-4 pct, to acquire Meatigo & Prasuma.
- Sobha – Q3 sales value grew 17.8 pct QoQ, average realisation up 17 pct YoY.
- JK Lakshmi – Reported Q3 above street estimates, consolidated volumes up 2 pct YoY.
- Aurobindo Pharma – Strong growth in the US oral portfolio, ARV sales grew 72 pct YoY.
- HG Infra – JV declared lowest bidder for a project worth Rs. 21.95 bn.
- PG Elec – Posted Q3 above street estimates, raises sales & profit guidance for FY25.
- Deepak NTR – Executed agreements for supply of Propylene and Hydrogen.
Negative Read through
- PI Ind – Reported weak Q3, misses estimates, margin down 224 bps YoY.
- GMM Pfaudler – EBITDA fell 15.7 pct, margin at 12 pct vs 13.3 pct YoY.
- Ramco Cements – Q3 below estimates, EBITDA declined 29 pct YoY.
- Bikaji – Gross margins slipped 257 bps, EBITDA down 26 pct YoY.
- Cochin Shipyard – Weak result dragged by key shipbuilding segment, margin down 870 bps YoY.
- Sonata Soft – EBIT down 7.7 pct, margin at 4.6 pct vs 6.6 pct QoQ.
- Motherson Wiring – EBITDA down 9.3 pct, margin at 10.3 pct vs 12.4 pct YoY.
- Apollo Tyres – Weak Q3, misses muted expectations, APMEA region a major drag.
- NCC – EBIT down 7.7 pct, margin at 4.6 pct vs 6.6 pct QoQ.
Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
