Weak US job data triggered sell off in global markets
Asian
markets extended sell of to a seventh day after weak US jobs data triggered a
pullback in equities and fueled bets on an interest-rate cut by the Federal
Reserve, Bloomberg reported. The MSCI Asia Pacific Index fell 0.3% as shares in
Japan slumped more than 2%. South Korean shares fluctuated amid speculation
about revising a capital gains tax. Indian stock markets logged their fifth
consecutive week of losses on Friday amid trade uncertainties with the US and
persistent foreign institutional outflows.
The
NSE Nifty 50 settled 203 points or 0.82% lower at 24,565.35 and the Sensex lost
585.67 points or 0.72% to close at 80,599.91. Foreign portfolio investors
stayed net sellers of Indian equities for the tenth consecutive session on
Friday US stocks dropped on Friday.
Fundamental Update
- MCX Q1FY26 (QoQ) Revenue up 28.1% to Rs 373.21 crore
versus Rs 291.33 crore. Net Profit up 50% to Rs 203.19 crore versus Rs 135.46
crore. Positive
- Tata Power Q1FY26 (YoY) Revenue up 4.3% to Rs
18,035.07 crore versus Rs 17,293.62 crore. Ebitda up 15% to Rs 4,139.01 crore
versus Rs 3,586.66 crore. Positive
- Delhivery Q1FY26 (YoY) Revenue up 5.6% to Rs
2,294.00 crore versus Rs 2,172.30 crore. Ebitda up 53% to Rs 148.82 crore
versus Rs 97.06 crore. Positive
- ITC - Q1FY26 (YoY) Revenue up 20.6% to Rs
19,749.91 crore versus Rs 16,374.02 crore. Ebitda up 3% to Rs 6,261.27 crore
versus Rs 6,086.77 crore. Negative
Technical Update
- NIFTY – Nifty broke near term support of
24,650 and settled lower at 24,565 on Friday. Index suffered sentimental weakness
on surprised US tariff on Indian goods. Support now lies at 24,400 while 24,750
as resistance. Today’s range – 24,400 – 24,750.
- BANKNIFTY – Bank nifty too turned weak and
settled near support at 55,616 on Friday. Index lost momentum as it failed cross
50 day EMA of 56,100. Today’s range – 55,250 – 56,000.
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