Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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May 09, 2025

• Daily Morning Report
• Date: 09.05.2025
• NIFTY OUTLOOK: 24273.80 FII: Rs. 2007.96 cr DII: Rs. -596.25 cr
• As discussed yesterday, market behaviour remained on expected lines. Nifty failed to hold the immediate support of 24346 and corrected to 24150, close to our day support of 24143. It bounced back from there and closed at 24273.80, again near our support of 24277.
• A moderately bearish candlestick appeared on the daily chart, and the last few sessions have formed a bearish structure. A decisive breakdown below 24205 could lead Nifty down to 24136–24067. If supply pressure increases, it may even test 23993.
• On the upside, 24417–24483 may act as immediate resistance. A breakout and sustained move above this range could push Nifty towards 24550. Interim resistance at 24346 may emerge between 24273 and 24417.
• Bank Nifty OUTLOOK
• SPOT: 54365.65 PCR: 0.80 Max CE OI: 63000 Max PE OI: 54000
• On 8th May 2025, Bank Nifty closed at 54365.65, down 0.45% from the previous day. The index moved 829.25 points intraday, with a high of 54937.25 and a low of 54108.
• For today’s session, the previous day’s high of 54937.25 and low of 54108 may act as immediate resistance and support, respectively.
• Technical View on Daily Chart:
• Key levels on the daily chart for Bank Nifty are 54900 as resistance and 53700 as support. A move above 54900 may lead the index towards 55300, while a breach below 53700 could drag it down to 53100.
• The Relative Strength Index (RSI) stands at 58.5; levels below 30 are considered oversold, and above 70 overbought.
• Bank Nifty Day SMA Analysis
• Bank Nifty is trading above 6 out of 8 SMAs (20, 30, 50, 100, 150, 200-day) and below the 5 and 10-day SMAs. No candlestick pattern has been identified.
• Macros
• 1. Dollar index @ 100.42
• 2. Vix @ 22.48
• 3. Brent crude @ 63.08
• 4. U.S. 10 year’s bond yield @ 4.358
• Note:
• Wall Street gained on the US-UK trade deal framework, while focus now shifts to a possible agreement with China. President Donald Trump signed a trade deal framework with the UK on Thursday, and US officials are set to meet Chinese counterparts over the weekend.
• ING analysts noted, “De-escalation with China is realistically the only thing that can meaningfully move the dial on the tariff hit.”
• The Dollar Index crossed 100, pushing bullion prices down. Gold slid nearly $100 on news of the UK deal, and further correction is expected if a China deal materializes. Avoid buying bullion for now—Gold may slide to $3190–3150, and Silver may drop to $31.6–31.2.
• As for Indian equities, some downside is expected due to war-related tensions. Nifty has immediate support around 23993–23850. No need to panic on further dips—consider averaging trades.
• Contributed by
• Ashok bhandari : INH000019549
• -------------------------------------xxxxxxx-------------------------------------------------------------------xxxxxxx---------------------------------
• Global and Domestic Insights
• Global Market Highlights
• US–UK Tariff Deal Finalized
• Trump announced reduced tariffs on British cars (27.5% → 10%) and zero duties on British steel exports. UK granted 1L car quota at reduced tariffs.
• US Jobless Claims
• Jobless claims fell to 222k, better than expected. Continuing claims also dropped, easing labor market worries.
• Fed Policy Status Quo
• No rate change. Market reaction remained stable as Powell emphasized patience amid global trade risks.
• ???????? India-Specific Updates
• Operation Sindoor
• Continued India–Pakistan border escalations may keep markets volatile. Nifty closed down 0.58% yesterday.
• RBI Dividend to Govt – 50% Higher Expected
• FY24: ₹1 lakh crore paid. FY25 may cross ₹1.5 lakh crore to help manage fiscal deficit & liquidity.
• Q4 FY25 – Key Results Summary
• Asian Paints
• • Profit ↓ 42% YoY, Revenue ↑ 4.3%
• • Volumes up, but value degrowth due to pricing pressure. Competition from Birla Opus cited.
• Kalyan Jewellers
• • Profit ↑ 36%, Revenue ↑ 36.6%, EBITDA ↑ 35%
• • Franchise-led model scaling well (42% revenue from franchise stores). 278 stores now (↑36%).
• L&T (Larsen & Toubro)
• • Q4 Profit ↑ 25% (₹5497 Cr)
• • Record high FY25 order book: ₹5.79 lakh Cr, with 46% from international markets.
• Titan
• • Q4 Profit ↑ 13%, Revenue ↑ 18.8%, Jewelry revenue ↑ 25%
• • EBITDA margin dropped (FY25: 9.6%, ↓148 bps YoY). Watch & EyeCare segments helped offset Jewelry margin dip.
• FMCG Sector – Rural Revival
• • FMCG growth at 11%, mainly price-led
• • Volume growth slowed to 5.1% (vs 6.1% YoY)
• • Rural markets outperform urban due to inflation pressure.
• IndusInd Bank Scandal
• • GT’s forensic report to RBI flagged possible insider trading by ex-CEO Suman Katpalia & Deputy CEO Arun Khurana.
• • Alleged share sales/purchases worth ₹280–320 Cr each without disclosures.
• • Accounting irregularities caused $230 million discrepancy in Mar'25.
• • RBI assures financial stability; new CEO appointment pending.
• Verdict:
• • US-UK deal boosts global sentiment
• • India’s macro aided by RBI support, but border tensions need watching
• • Mixed bag in Q4 results: Consumption plays like Asian Paints weak, but Titan, Kalyan, L&T strong
• • IndusInd Bank adds PSU banking risk, but RBI response quick
• @beatthestreet10
• News headlines from business news agencies :
• *Business Standard :*
• DPIIT inks pact with Hafele India to help startups in manufacturing sector
• Rural demand for FMCG grows at a slower pace in March quarter: NielsenIQ
• CIL to set up $3 bn worth clean energy projects to boost renewable heft
• Jio Credit looks to raise Rs 1K cr in maiden bond issue next week
• Dabur to drop underperforming tea, diapers; focus on Qcommerce for growth
• IL&FS MF pays ₹262 cr to infra investors; total payout hits ₹1.9K cr
• LG to invest Rs 5,000 crore in Andhra Pradesh for smart appliance facility
• SC's reversal of $2.3 billion steel deal casts shadow on bankruptcy law
• A, BBB-rated NBFCs face sharper slowdown amid asset quality stress
• Exide to fund EESL capex via internal accruals despite FY25 cashflow dip
• Toyota posts strong sales but remains cautious on profit amid rising costs
• Emirates earns $5.2 billion, ranks among world's most profitable airlines
• *Economic Times :*
• ArcelorMittal begins clean energy supply from 1-GW Andhra project to AMNS India
• PNB targets record-low bad loan ratio on higher debt recoveries, CEO says
• Crisil Ratings places IndusInd Bank on rating watch with negative implications
• Vedantu turns profitable in Q4 FY25 with record collections: CEO Vamsi Krishna
• India may need additional 50 mn sqft real estate for data centres by 2030: Deloitte report
• GRSE delivers first anti-submarine warfare shallow water craft to Navy
• Porter closes $200 million round led by Kedaara Capital, Wellington Management at unicorn valuation
• Property Share files for Rs 472 crore IPO for second SM REIT scheme
• Canara Bank Q4 Results: Standalone PAT jumps 33% YoY to Rs 5,004 crore
• AERA revises tariffs, differential UDF for eco, biz passengers on intl flights from Mumbai airport
• Uno Minda lines up Rs 200 cr investment to set up Haryana plant
• *Mint :*
• IMD forecasts fresh heatwave in East India, rain in Northwest, Central regions
• Bain-backed Indian chemicals firm eyes US expansion after key acquisition
• India needs to integrate existing govt initiatives related to biogas sector: IBA
• Asian Paints Q4 net profit falls 45 pc to ₹700.8 cr
• Bharat Forge Q4 Results: PAT jumps 24% YoY to ₹282.62 cro
• Oil prices rise on support from US-China trade hopes
• Tinder parent Match cuts 13% of workforce, forecasts revenue above estimates
• OYO becomes most profitable Indian startup in FY25 with ₹623 cr profit: Founder Ritesh Agarwal
• NSE seeks government intervention in IPO standoff with SEBI: Report
• Tesla's India country head Prashanth Menon steps down ahead of launch
• Vertex Group aims to bring in USD 40 mn foreign investments to India over next 3 years.
• @beatthestreet10
• Birla Corp : Board Approves Rs 3,475 Cr Expansion via RCCPL Subsidiary
• RCCPL to add 3.7 MTPA clinker unit at Maihar (MP) and 3.4 MTPA grinding capacity in UP.
• East UP unit (1.4 MTPA) and Maihar unit to be operational by Q3 FY28; West UP unit (2 MTPA) by Q4 FY29.
• Total investment: Rs 3,475 crore, funded via debt and internal accruals.
• Expansion aims to support future growth; current capacity utilization at 88.8%.
• @beatthestreet10
• Morgan Stanley On Canara Bank
• Maintain Underweight with target price of Rs 80
• Q4 PAT beat of 23% was helped by strong NPL recoveries
• Core PPoP growth was below estimates led by higher operating costs
• @beatthestreet10
• Amid heightened India-Pakistan tensions, Union Defence Minister chairs high-level meeting with CDS Anil Chauhan, tri-services Chiefs - NDTV
• @beatthestreet10
• SENORES PHARMA ; Senores Pharma Acquires USFDA-Approved Tramadol ANDA from APDM
• Senores Pharmaceuticals (through US subsidiary) acquires Tramadol Tablets ANDA from APDM Pharmaceuticals.
• Tramadol market size in USA: ~$62 Mn (Dec 2024, IQVIA) and ~$119 Mn (Mar 2025, Symphony).
• Acquisition funded via IPO proceeds as per stated objectives.
• Strengthens Senores' US product portfolio, adding to existing 61 ANDAs and 22 commercial products.
• @beatthestreet10
• Amid heightened India-Pakistan tensions, Union Defence Minister chairs high-level meeting with CDS Anil Chauhan, tri-services Chiefs - NDTV CITING SOURCES
• @beatthestreet10
• MUTHOOT MICROFIN Q4 HIGHLIGHTS
• OPERATING PROFIT DOWN 48 % TO 130 CR QOQ
• AUM FLAT AT 12,356 CR QOQ
• DISBURSEMENTS DOWN 4 % TO 1959 CR QOQ
• CLIENTS AT 3.43 MN V 3.42 MN QOQ
• GROSS NPA AT 4.84 % V 3.03 % QOQ
• NET NPA AT 1.34 % V 1.27 % QOQ
• @beatthestreet10
• NIFTY TO OPEN 338 PTS GAP DOWN
• @beatthestreet10
• TITAN Q4
• Jewellery EBIT Margins at 11.9% vs 12.1%
• SSSg for Q4 came in at 15%
• Studded share at 30% vs 33% YoY
• Management Says Any correction in Gold prices would increase buyer growth
• Target high double digit growth in Jewellery Biz
• Margin band re-iterated at 11-11.5% for Jewellery
•  
• @beatthestreet10
• *Gold Major developments*
• 1. Gold tumbles 4% in two days amid improved sentiment from US-UK trade agreement.
• 2. XAU/USD drops to $3,311, breaching key support levels and triggering technical selling pressure.
• 3. US Dollar Index surges 0.85% to 100.71, making gold more expensive for other currency holders.
• 4. Fed holds rates steady; Powell signals no urgency to cut, boosting treasury yields.
• 5. US 10-year Treasury yield rises 10 basis points to 4.375%.
• 6. Central banks in China, Poland, and Czech Republic added gold reserves in April 2025.
• 7. People’s Bank of China extends monthly gold buying streak to six months with 2-tonne purchase.
• 8. Poland boosts reserves by 12 tonnes, reaching 509 tonnes, showing ongoing central bank interest.
• 9. Weekly jobless claims fell to 228,000, better-than-expected, indicating continued labor market strength.
• 10. Swap markets now expect Fed’s first rate cut in July, followed by two more in 2025.
• @beatthestreet10
• PIDILITE Q4 ; Underlying Volume growth of 9.8%
• @beatthestreet10
• MUTHOOT MICROFIN DOWN 11 % ON WEAK Q4
• @beatthestreet10
• DEFENCE STOCKS UP
• @beatthestreet10
• JPMorgan On Bharat Forge
• Downgrade to Neutral from Overweight; Cut TP to Rs 1145 from Rs 1190
• End-market outlook remains challenging Cut FY26/27E
• EBITDA by 11%/3% Management did not provide guidance for FY26 exports
• @beatthestreet10