Trump threatened more tariff on India over Russian oil purchase, markets
are steady
Trump
once again attacked India over Russian oil purchase and vowed to increase
tariff substantially. The GIFT Nifty hasn’t reacted too negativelly over
dramatic Trump history, and traded steady at 24,727 in the morning session.
Earlier, NSE Nifty 50 ended 157 points, or 0.64% up at 24,722, and the 30-stock
BSE Sensex ended 418 points, or 0.52% higher at 81,018.
Globally,
Asian Pacific markets rose amid optimism about interest-rate cuts helped the
S&P 500 post its biggest rally since May. Stocks in Japan, Australia and
South Korea all gained and the broader MSCI Asia Pacific Index rose 0.4%.
Earlier, Wall street ended higher on Monday after the latest employment data
showed a sharp slowdown in job growth, lifting expectations the Federal Reserve
will cut interest rates to support the economy.
The
S&P 500 Index rallied 1.5% in New York, while the technology-heavy Nasdaq
100 Index rallied 1.9%, the biggest gains for each benchmark since May. Foreign
portfolio investors remained net sellers, selling stocks worth approximately Rs
2,404 crore, according to provisional data from the National Stock Exchange.
The DIIs that have been buyers for the 21st session bought stocks worth Rs
4,256.55 crore.
Fundamental Update
- Godfrey Phillips - India Q1FY26 (YoY) Revenue
up 36.5% to Rs 1,486 crore versus Rs 1,088 crore. Net Profit up 55.9% to Rs 356
crore versus Rs 229 crore. Positive
- Siemens Energy India - Q1FY26 (YoY) Revenue up
20.2% to Rs 1,784.60 crore versus Rs 1,484.20 crore. Net Profit up 84% to Rs
262.70 crore versus Rs 142.80 crore. Positive
- Triveni Turbine - Q1FY26 (YoY)
Revenue down 19.9% to Rs 371.00 crore versus Rs 463.00 crore. Net Profit down
19% to Rs 64.50 crore versus Rs 80.00 crore. Negative
- DLF - Q1FY26 (YoY) Revenue up 99.4% to Rs
2,716.70 crore versus Rs 1,362.35 crore. Net Profit up 18% to Rs 762.67 crore versus
Rs 645.61 crore. Neutral
Technical Update
- NIFTY – Nifty rebounded over buying on dips
to settle at 24,722 on Monday. Index shrugged off Trump tariff threat and
recovered smartly. Support is 24,550 while 24,900 is resistance. Today’s range
– 24,550 – 24,900.
- BANKNIFTY – Bank nifty traded in narrow range
and settled tad higher at 55,619 on Monday. Index await fresh clues for
directional movement. Today’s range – 55,250 – 56,000.
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.
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