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• The benchmark Nifty index ended marginally lower as investors booked profits amid rising concerns over escalating geopolitical tensions in the Middle East and a sharp rise in crude oil prices, which touched a one-month high of around $90 per barrel, dampening market sentiment. The Nifty slipped 51 points, or 0.2%, to close at 24,187, weighed down by losses in heavyweight stocks including HDFC Bank, Reliance Industries, TCS, Infosys, and SBI. In contrast, the broader market continued to outperform, with the midand small-cap segments extending their gains on expectations of healthy Q1 earnings. The advance-decline ratio for Nifty 500 stocks stood at 3:2 in favour of advances, reflecting broad-based strength across the market.

• Sectorally, the Auto, Realty, and Defence indices gained up to 1%, while private banks came under selling pressure following HDFC Bank's weaker-than-expected quarterly earnings. TVS Motor rallied 6% to R3,793 after reporting better-than-expected Q1 results. Defence stocks also witnessed fresh buying interest, led by HAL, Data Patterns, Paras Defence, and BDL.

• Among financials, M&M Finance surged 10% after posting strong quarterly earnings. Realty stocks such as Godrej Properties, Anant Raj, Brigade Enterprises, DLF, and Lodha advanced on expectations of impressive quarterly performance.

• Globally, Asian and European markets traded higher as strength in technology stocks and a series of encouraging corporate earnings helped offset concerns surrounding the continuing US-Iran conflict. -238.41 (-0.31%).

Technical Outlook:

• Nifty index opened on a flattish note and remained within a narrow range throughout the trading session. The index drifted lower in the first half, but bulls defended it at the crucial support of 24150 zones. It formed a bearish candle and an inside bar on the daily frame indicating indecisiveness after the recent up move. It has formed a NR 3 pattern on the daily frame and has got stuck within a range. Now it needs to cross and hold above 24250 zones for an up move towards 24350 then 24450 zones while support can be seen at 24100 then 24000 zones.

• S&P BSE Sensex index opened on a flattish note and selling pressure was seen from the initial hour. The index inched lower in a slow and steady manner throughout the session though it managed to hold its previous session’s low near 77300 zones. It formed a small bodied bearish candle with wicks on both sides indicating a tussle between the bulls and bears. Now it has to cross and hold 77500 zones, for a bounce towards 78000 then 78200 marks while on the downside support is seen at 77200 and then 76800 zones.

Derivative Outlook:

• Nifty future closed negative with losses of 0.31% at 24185 levels. Positive setup seen in TVS Motor, Manappuram, Indusind Bank, Shriram Finance, Sonacoms, Laurus Labs, Godrej Properties, Bajaj Finserv, SRF and AB Capital while weakness seen in Bank of Baroda, HDFC AMC, HDFC Bank, Tata Elxsi, Kaynes, Force Motors, Infosys, Crompton, NBCC and Reliance.

• On option front, Maximum Call OI is at 24200 then 25000 strike while Maximum Put OI is at 24200 then 23000 strike. Call writing is seen at 24200 then 24600 strike while Put writing is seen at 24200 then 24100 strike. Option data suggests a broader trading range in between 23800 to 24600 zones while an immediate range between 24000 to 24400 levels.

• ACME Solar Signs Power Purchase Pact for 300MW Renewable Project – Company has signed a 25-year power purchase agreement with Solar Energy Corporation of India for a 300 MW Wind-Solar Hybrid project.

• Glenmark Pharma - Company has received approval from the US FDA for Ryaltris nasal spray for treating seasonal allergic rhinitis symptoms in pediatric patients aged 6 to less than 12 year.

• CMPDI Expects Growth In Coal-Related Projects To Continue - Central Mine Planning & Design Institute said it is working to expand its presence in coal-related projects and expects growth in business activity to continue this year. The company said its end-of-month survey is yet to be reported. It also stated that its memorandum of understanding with NTPC is a continuation of an existing project.

• Mahindra & Mahindra Financial Services reported a consolidated net profit of Rs 926 crore in Q1, up 75.1% from Rs 529 crore a year earlier. Total income rose 3% quarter-onquarter to Rs 5,725 crore. Calculated net interest income increased 17.9% year-on-year to Rs 2,580 crore, while impairments declined 18.4% to Rs 567 crore. On a sequential basis, net profit was down 1.3% from Rs 938 crore.

• CSM Tech – Company said it expects to sign multiple new deals in FY27, with new orders contributing around 25% of revenue. Most of the company’s existing contracts are multiyear in nature. The company expects margins to remain healthy and sees double-digit growth in profit during FY27.

• Kirloskar Pneumatic’s consolidated net profit rose 25.6% year-on-year to Rs 33.4 crore, while revenue increased 7.4% to Rs 303 crore. EBITDA grew 35.4% to Rs 45.5 crore. The EBITDA margin widened to 15% from 11.9% a year earlier.

Global Market Update

• European Market - European shares edged higher after two days in the red, as gains in the technology sector and a slew of robust earnings countered news about the continuing US-Iran clashes. UK, Germany and France Index gained up to 0.5%.

• Asian Market – Asian stocks rise the most in five weeks as investors rush back into chip shares after a recent rout. South Korea and Taiwan led gains in the region, with most other markets also advancing. Japan’s Nikkei 225 rose 3.3% after slipping into correction territory on Friday.

• US Data - Fed Non-Farm Activities.

• Commodity - Brent oil swung after rallying more than 20% this month, as traders weighed threats to maritime traffic from the Strait of Hormuz and the Red Sea to a key Kazakh export terminal on Russia’s coast. The global benchmark traded around $89 a barrel.

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