Deadline of US China trade talk keeps markets remain cautious
In
the morning session, Asian Pacific markets posted a modest gain at the open as
investors stayed cautious ahead of key economic data this week and a looming
deadline for the potential extension of US tariffs on Chinese exports. The GIFT
Nifty is trading 0.17% or 41.5 points higher at 24,459 in the morning,
indicating a positive start for the benchmark Nifty 50. US and European index
futures were up in early Asian trading hours. S&P 500 futures were up 0.2%.
Earlier
the Indian equity benchmarks closed in the red, closing with losses after a day
of gains. The NSE Nifty 50 declined as much as 1.05% during the day. The market
clocked in the longest weekly losing streak in over five years. The NSE Nifty
50 ended 232 points, or 0.95% lower at 24,363 and the 30-stock BSE Sensex ended
765 points, or 0.95% lower at 79,857. Foreign portfolio investors turned net
buyer after 14 session of selling and bought securities worth 1,744 crores as
per provisional data from NSE
Fundamental Update
- Hindustan Foods - Q1FY26 (YoY)
Revenue rises 14.6% to Rs 995 crore versus Rs 868 crore. Net Profit rises 16.4%
to Rs 31.7 crore versus Rs 27.3 crore. Positive
- Manappuram Finance - Q1FY26 (YoY) Net Profit
declines 75% to Rs 138 crore versus Rs 555 crore. Calculated NII declines 10.2%
to Rs 1,380 crore versus Rs 1,538 crore. Negative
- Voltas - Q1FY26 (YoY) Revenue down 20% to Rs
3,938.58 crore versus Rs 4,921.02 crore. Net Profit down 58% to Rs 140.46 crore
versus Rs 334.23 crore. Negative
- Tata Motors - Q1FY26 (YoY) Revenue down 2.5% to Rs
1.04 lakh crore versus Rs 1.07 lakh crore. Net Profit down 63% to Rs 3,924
crore versus Rs 10,514 crore. Negative
Technical Update
- NIFTY – Nifty tumbled to three months low of
24,363 on Friday. Sentiments have been battered by Trump tariff on Indian
goods. Index likely to remain in range with support shifts at 24,250 while
resistance at 24,600.
- BANKNIFTY – Bank nifty too fell to few months
low to close tad higher to 55K at 55,096 on Friday. Index has support at 54,800
while 55,450 is near term resistance. Today’s range – 54,800 – 55,450.
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