Whalesbook
Dekho, market toh last 5 din se rally kar raha tha, woh bhi iss wajah se ki global tensions kam ho rahe hain, crude oil prices bhi thoda gir gaye hain aur Indian Rupee bhi strong ho raha hai. Par andar hi andar sabko thodi tension bhi hai, isliye log defensive sectors ki taraf shift ho rahe hain.
Isi shift ka fayda utha kar Nifty FMCG index 2.6% se zyada bhaga. Iske peeche reason hai price hikes, companies ke positive business updates aur unke attractive valuations. Jaise Hindustan Unilever (HUL) ko hi dekh lo, 17 April 2026 ko yeh 4.37% chadh gaya tha. Nestle India bhi ₹1280.00 ke aas paas close hua.
Ab opposite side dekho toh IT sector kaafi piche reh gaya. Wipro ne toh Q4 FY26 mein 2% kam profit report kiya hai, jo ki ₹3,502 crore hai. Revenue toh 8% badh kar ₹24,236 crore ho gaya, par core IT services revenue sirf 0.6% sequential aur 2.1% annual increase dikha raha hai. Matlab demand bahut low hai aur companies aage ke liye bhi bahut positive nahi dikh rahi hain. Analysts bhi Wipro ko 'Hold' se 'Sell' tak ki rating de rahe hain, kyunki unhe future growth par doubt hai.
Waise toh HUL ka P/E ratio 34.63 ke aas paas aur Nestle India ka 74.43 ke aas paas chal raha hai, jo consumer staples ke liye normal hai. Par abhi IT sector ke challenges jaise client cost-cutting aur consolidation chal raha hai, is wajah se investors ko lagta hai ki safe investment yahi hai. Wipro ne toh Q1 FY27 ke liye flat se 2% revenue decline ka forecast bhi de diya hai, jo demand ki weakness ko aur bata raha hai.
Ab banking sector ki baat karein toh yeh bhi ek important point par hai. HDFC Bank, ICICI Bank aur Yes Bank apne Q4 FY26 results announce karne wale hain. Analysts ko lagta hai ki net interest income growth toh steady rahega, par profit margins kam hone aur bond yields badhne ki tension hai. ICICI Bank ke liye bhi analysts ki rai mili-juli hai; kuch 'Buy' rating ke saath ₹1,700 ka target de rahe hain, toh kuch 'Strong Sell' kar rahe hain. Yes Bank ka P/E ratio 21.41 hai, jo sector average 10.18 se kaafi upar hai, matlab recovery toh price mein already dikh rahi hai.
Market itna upar ja raha hai par risks bhi chhupi hui hain. Agar global economic outlook aur kharab hui ya geopolitical tensions phir se badh gayi, toh yeh defensive stocks bhi pressure mein aa sakte hain. Wipro ne ₹15,000 crore ka buyback announce kiya hai ₹250 per share par, jo pichle din ke close se 19% premium hai, taaki sentiment sudhre. Par yeh demand ki kami ko cover nahi kar sakta.
Foreign Institutional Investors (FIIs) ne bhi lagatar do din buying ki hai, is baar ₹382 crore lagaye hain. Agle hafte, market shayad high levels par hi sideways chalta rahega, jismein banking results ka kaafi role hoga. US-Iran ke diplomatic talks par bhi nazar rakhni hogi. Agar tensions kam hue aur commodity prices stable rahe, toh FIIs ki buying market ko support kar sakti hai, par sustainable rally ke liye earnings aur economic stability zaroori hai.