Indian markets remain in range amid lack of US India trade deal clarity
Most
of the markets in Asia-Pacific regions were trading lower on Friday as traders
left recent development on trade tariffs and focus over uncertainty on US
Federal Reserve's policy outlook. The MSCI Asia- Pacific index snapped a
six-day winning streak. The index was down 0.75% as of in the morning session.
The S&P 500 and Nasdaq 100 futures advanced along with most US stock
indices' futures. S&P 500 and Nasdaq 100 hit record highs in Thursday's
session as Google's parent Alphabet Inc.'s robust earnings restored faith in
technology stocks.
The
GIFT Nifty was trading marginally 9.50 points higher at 24,977.50 in the
morning session. The NSE Nifty 50 ended 157.8 points or 0.63% lower at
25,062.1, while the BSE Sensex closed 542.47 points or 0.66% down at 82,184.17.
The FIIs continued net seller of Indian stocks, offloading over 2,105 crores of
shares during yesterday as per provisional data from NSE.
Fundamental Update
- Bajaj Finance - Q1FY26 (YoY) Net Profit up 22% to Rs
4,765 crore versus Rs 3,912 crore. Impairments on financial instruments rose to
Rs 2,120 crore as against Rs 1.684 crore. Positive
- SBI Life - Q1FY26 (YoY) Net Premium Income
rises 13.7% at Rs 17,179 crore versus Rs 15,105 crore. Solvency Ratio Flat At
1.96% (QoQ). Positive
- REC - Q1FY26 (YoY) Net interest income at
Rs 5,258 crore versus Rs 4,480 crore year-on-year, up 17% year-onyear, down 11%
quarter-on-quarter. Provisions reversal at Rs 610 crore vs Rs 467 crore
year-on-year. Positive
- Tanla Platforms - Q1FY26
(QoQ) Revenue rises 1.6% to Rs 1,041 crore versus Rs 1,024 crore. Ebitda inches
up 0.3% to Rs 164 crore versus Rs 163 crore. Neutral
Technical Update
- NIFTY – Nifty could not hold above 25,200
level and tumbled to 25,060 on Thursday. Index continued range bound trading
amid lack of fresh impetus. Support now lies at 50 day EMA of 24,950 while
25,150 is near term resistance. Today’s range – 24,950 – 25,150.
- BANKNIFTY – Bank nifty too slipped marginally
to settle near 57K at 57,066 on Thursday. Index takes strong support at 17 day
EMA of 56,850 while 57,550 is near term resistance. Today’s range – 56,850 –
57,550.
Disclaimer: This report is prepared by an analyst who has exercised due diligence in
checking the correctness and authenticity of the information before publishing
research report. We shall not be in any way responsible for any loss or damage
in analysis or views obtained from the use of information contained in this
report and especially states that we have no financial liability whatsoever to
the user of this report.
No comments:
Post a Comment