On Thursday, the Nifty index came under pressure but displayed resilience through bargain hunting at lower levels, ultimately closing above its intraday lows. This Friday morning, GIFT Nifty is trading steady, indicating potential consolidation with a positive bias.
Encouragingly, the selling pressure from global cues—mainly due to rising US Treasury yields and fiscal concerns—appears to have eased. As long as Nifty holds above its key support at 24,386, the intraday outlook remains neutral to positive, with an immediate upside target of 25,000.
Key Market Highlights:
Sun Pharma reported a 19% YoY decline in Q4FY25 net profit at ₹2,149.8 crore, despite an 8% rise in revenue. Excluding exceptional items, net profit stood at ₹2,889.1 crore, up 4.8%.
ITC saw a sharp gain driven by a one-time exceptional item.
TTML gained momentum on news of a potential capital infusion.
Results to Watch Today:
Ashok Leyland, BEML, Glenmark, GNFC, and JSW Steel are scheduled to report Q4 earnings.
FII-DII Activity:
FIIs were net sellers worth ₹5,045 crore, while DIIs were net buyers at ₹3,715 crore.
Trading View:
Market experts maintain a bullish bias on Nifty and Bank Nifty with aggressive upside targets. ABB is flagged as a strong interweek buy due to oversold technical indicators.
Stocks in Focus:
IndiGo (InterGlobe Aviation): Reported its highest-ever quarterly net profit at ₹3,068 crore in Q4FY25, up 61.9% YoY, with a 24.8% rise in total income.
Colgate-Palmolive: Posted a 6.5% YoY decline in net profit at ₹355 crore; revenue down 2% at ₹1,462 crore, missing Bloomberg estimates.
Sector Update:
43% of Bharti Airtel and Reliance Jio users have migrated to 5G as of Q4FY25, significantly ahead of expectations.
Early monsoon rains and western disturbances have impacted sales projections in the FMCG, air conditioning, and beauty segments, disrupting seasonal demand typically expected during the summer peak.
US Political Landscape:
Former US President Donald Trump has built a $600 million political war chest ahead of the midterm elections, aiming to raise $1 billion to support his agenda and strengthen Republican control of Congress.
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