Sentiments remain higher ahead Trump – Xi meeting
In the early morning session, the GIFT Nifty is trading marginally higher at 26,139, indicating a positive open for the benchmark Nifty 50. US and European index futures are trading higher during Asian trading hours. Asian stocks opened higher, buoyed by Wall Street optimism that artificial intelligence will keep fueling profits at major technology firms and growing bets of a Federal Reserve interest-rate cut. S&P 500 futures was up 0.08% while Euro Stoxx 50 futures decline 0.21%.
The Nifty ended in the red on Tuesday; however it closed above the 25,900 mark. At the close, the Sensex fell 492.23 points, or 0.58%, to 84,286.61, while the Nifty slipped 29.85 points, or 0.11%, to 25,936.20. The FPI remained net buyers with pumping over 10K Crore in the Indian securities – highest in this year. Bullion was near $3,950 an ounce on Wednesday, a day before a scheduled meeting between Presidents Donald Trump and Xi Jinping.
Fundamental Update
- Tata Capital - Q2FY26 (YoY) Total Income up 7.7% to Rs 7,750 crore versus Rs 7,192 crore. Net Profit up 2% to Rs 1,097 crore versus Rs 1,076 crore. Positive
- Shree Cement - Q2FY26 (YoY) Revenue up 17.4% to Rs 4,761 crore versus Rs 4,054 crore. Ebitda up 58.8% to Rs 974 crore versus Rs 613 crore. Positive
- M&M Financial - Q2FY26 (YoY) Total Income up 12.7% to Rs 5,049 crore versus Rs 4,479 crore. Net Profit up 45% to Rs 564 crore versus Rs 389 crore. Positive
- Adani Green - Q2FY26 (YoY) Revenue nearly flat at Rs 3,008 crore versus Rs 3,005 crore. Ebitda up 17.4% to Rs 2,603 crore versus Rs 2,217 crore. Positive
Technical Update
- NIFTY – Nifty again attempted to cross 26K level but settled marginally lower at 25,936 on Tuesday. Index was quite volatile due to monthly expiry. Today’s range – 25,850 – 26,150.
- BANKNIFTY – Bank nifty held back 58K level and closed at 58,214 on Tuesday. Index has strong resistance at 58,600 while 58K is near term support. Today’s range – 58,000 – 58,650.
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