Indian markets turned lower amid weak corporate earnings
India's
benchmark equity indices extended their decline to the third day as weak
first-quarter results from Kotak Mahindra Bank Ltd. weighed the most. The NSE
Nifty 50 settled 156.1 points lower at 24,680.9, while the BSE Sensex shed
572.07 points or 0.7% to close at 80,891.02. The GIFT Nifty was seen down 58.4
points lower at 24,650 in the early morning, indicating a likely fall in the
benchmark Nifty 50 at open later in the morning.
Asian
markets too slipped after a flat session on Wall Street, as investors stayed
cautious amid a week packed with economic data and corporate earnings. The MSCI
Asia-Pacific gauge dropped 0.6%, a third consecutive day of decline. Nikkei was
down 0.7% in the morning. Foreign portfolio investors stayed net sellers of
Indian shares for the sixth consecutive day on Monday as they sold stocks worth
6085 crores while domestic institutions acquired stocks of 6,764 crores as per
data from NSE.
Fundamental Update
- IndusInd Bank - Q1FY26 (QoQ) Net interest income at
Rs 4,640 crore versus Rs 5,410 crore, down 14% YoY and up 52% QoQ. Operating
profit at Rs 2,567 crore versus Rs 3,950 crore, up 623% sequentially. Positive
- Torrent Pharmaceuticals - Q1FY26
(YoY) Revenue up 11.2% to Rs 3,178 crore versus Rs 2,859 crore. Ebitda up 14.2%
to Rs 1,032 crore versus Rs 904 crore. Positive
- Mazagon Dock Shipbuilders - Q1FY26
(YoY) Revenue up 11.4% to Rs 2,625.59 crore versus Rs 2,357 crore. Ebitda down
53% to Rs 302 crore versus Rs 642 crore. Negative
- GAIL (India) - Q1FY26 (QoQ) Revenue down
2.6% to Rs 34,768.93 crore versus Rs 35,685.21 crore. Ebitda up 4% to Rs
3,333.67 crore versus Rs 3,216.37 crore. Neutral
Technical Update
- NIFTY – Nifty continued downside journey as
index settled lower at 24,680 on Monday. Index tried to lift above 50 day EMA
at 24,942 but failed to do so and closed at one and half month low. Support now
lies at 24,550 while 24,800 is near term resistance. Today’s range – 24,550 –
24,800.
- BANKNIFTY – Bank nifty too closed lower near 56K
at 56,086 on Monday. Index turned weak amid poor credit offtake during quarter.
Support is at 55,580 while resistance seen at 56,280. Today’s range – 55,580 –
56,280.
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