Ravi Bhatt
Trump continued to remain defiant against India, markets likely to remain
in range
In
the morning session, Asian Pacific stocks edged up at the open Friday, poised
for a fifth consecutive day of gains, as technology shares lifted Japanese
equities. The MSCI Asia Pacific Index rose 0.5%, helped by a surge in the
Nikkei-225 index. The Indian equity benchmarks couldn’t join the bandwagon but
closed in the green, recovering sharply during the last hour of trade, to snap
its two-day decline.
The
NSE Nifty 50 had declined as much as 0.94% during the day, as investors turned
jittery following the doubling of import tariffs on India by US President
Donald Trump. A fight back from the bulls, however, ensured that the market
settled with gains. Foreign portfolio investors stayed net sellers of Indian
equities for the 14th straight session on Thursday, Aug. 7, and sold stocks
worth approx. Rs 4,997 crore, according to provisional data from the National
Stock Exchange. The DIIs that have been buyers for the 24th session bought
stocks worth Rs 10,864 crore.
Fundamental Update
- Titan - Q1FY26 (YoY) Revenue up 24.6% to Rs
16,523.00 crore versus Rs 13,266.00 crore. Ebitda up 47% to Rs 1,830.00 crore
versus Rs 1,247.00 crore. Positive
- LIC - Q1FY26 (YoY) Net premium income up
4.71% at Rs 1.20 lakh crore versus Rs 1.14 lakh crore. Profit up 4.11% at Rs
10,985 crore versus Rs 10,551 crore. Positive
- HPCL - Q1FY26 (QoQ) Revenue up 1.2% to Rs 1,10,767.40
crore versus Rs 1,09,492.37 crore. Ebitda up 31% to Rs 7,601.77 crore versus Rs
5,803.76 crore. Positive
- Schneider Electric - Q1FY26
(YoY) Revenue up 4.8% to Rs 621.63 crore versus Rs 592.91 crore. Ebitda down
15% to Rs 69.33 crore versus Rs 81.72 crore. Neutral
- NIFTY – Nifty managed to recoup early losses
and settled marginally higher at 24,596 on Thursday. Index found support from
domestic investors and recovered from low of 24,350. Index likely to remain in
range with support at 24,400 while resistance at 24,750.
- BANKNIFTY – Bank nifty too recovered after
early losses to close at 55,521 on Thursday. Index has strong support at 55,000
while 55,650 is near term resistance. Today’s range – 55,000 – 55,650.
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