At 8:00 a.m. IST, the SGX Nifty Futures was trading at 10,899.00, which is 0.4% higher than its previous close. It is at a premium to the Nifty’s previous closing of 10,830.95.
On Thursday, FIIs/FPIs bought stocks worth Rs 3006.41 crore and DIIs sold stocks worth Rs 1634.32 crore.
Global stock markets: Nikkei +0.1%, KOSPI +0.2%, Hang Seng -0.1%, Shanghai Composite +0.5%.
NASDAQ +1.4%, S&P 500 +0.9%, Dow 30 -0.06%
O’Neil Market Condition Report
Out of the 24 emerging markets tracked by our institutional research team, the breakup is as follows: Confirmed Uptrend, 12; Rally Attempt, 7; Uptrend Under Pressure, 5; Downtrend, 0.
Out of the 24 developed markets, the breakup is as follows: Confirmed Uptrend, 15; Rally Attempt, 4; Uptrend Under Pressure, 5; Downtrend, 0.
We changed the market status to a Rally Attempt from a Downtrend as the Nifty managed to stay above Tuesday’s low of 10,583 (first day of an attempted rally) for two straight sessions. Also, the Nifty managed to retake its 50-DMA and closed above that level.
Dabur India reported its Q3 FY 2019 results yesterday. Its revenue came in at Rs 2,199.2 crore, up 11.8% y/y, in line with consensus estimates. EBITDA grew 10.4% to Rs 445.4 crore and margins contracted 20bps to 20.3%. Higher employee benefit expenses (+16%) and raw material cost (+5%) were offset by advertising and publicity expenses (-4%).
Bharti Airtel reported its Q3 results yesterday. Its revenue increased 1% y/y to Rs 20,519 crore, slightly below expectations. Blended ARPU increased 4.1% to Rs 104 (sequentially). Net profit was recorded at Rs 86 crore, beating consensus estimates (net loss of Rs 905 crore).
According to the central statistics office, India’s GDP grew at 7.2% in FY 2018 compared with earlier estimates of 6.7%.
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