Ravi Bhatt
Sebi Registered Research Analyst - INH000012591
Better
than expected US economic data lifts market sentiments
In
the morning session, Asian Pacific stocks made a modest gain on Friday as a
global equity rally gained fresh boost on strong economic data that eased
concerns about the US economy. The MSCI Asia Pacific Index rose 0.2% at the
open. Equity-index futures for US gained after the S&P 500 and Nasdaq 100
set closing new highs Thursday. Tech stocks rose as a bullish outlook from
Taiwan Semiconductor Manufacturing Co. bolstered confidence in AI spending.
The
GIFT Nifty was trading near 25,200 during early morning on Friday. The futures
contract based on the benchmark Nifty 50 rose 0.20% at 25,190 indicating a
start in green for the Indian markets. India's benchmark equity indices pulled
back on Thursday after two days of gains, weighed by heavyweights Infosys Ltd.
and HDFC Bank Ltd. Global benchmark Brent crude oil traded above $69 a barrel
after advancing by more than 1% in the previous session, while West Texas
Intermediate was near $67.
Fundamental Update
- Jio Financial Services - Q1FY26
(YoY) Net Profit up 3.8% to Rs 325 crore versus Rs 313 crore. Total Income up
48.3% at Rs 619 crore versus Rs 418 crore. Positive
- Axis Bank - Q1FY26 (YoY) NII up 1% to Rs
13,560 crore versus Rs 13,448 crore. Net Profit down 3.8% to Rs 5,806 crore
versus Rs 6,035 crore. Negative
- Wipro - Q1FY26 (QoQ) Revenue down 1.65% to
Rs 22,134 crore versus Rs 22,504.2 crore. EBIT decreased 9.09% to Rs 3,548
crore versus Rs 3,902 crore. Negative
- LTIMindtree - Q1FY26 (QoQ) Revenue 0.7% up at Rs
9,840.60 crore versus Rs 9,771.70 crore. EBIT up 5% to Rs 1,406.50 crore versus
Rs 1,345.40 crore. Neutral
Technical Update
- NIFTY - Nifty could not continue momentum
and slipped below 25,200 to settle at 25,111 on Thursday. Index is facing
resistance at 17 day EMA of 25,250 while 25K is near term support. Today’s
range – 25,050 – 25,250.
- BANKNIFTY - Bank nifty too slipped below 57K to
close at 56,828 on Thursday. Index closed tad below 17 day EMA of 56,850 while
57,250 is near term resistance. Today’s range – 56,550 – 57,250.
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