Market Commentary
Global markets – US markets remain closed on Thursday for Thanksgiving and Black Friday.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,427 | 0.7 | 11.5 |
| Nasdaq | 23,214 | 0.8 | 20.2 |
| Hang Seng | 25,900 | -0.2 | 29.1 |
| Nikkei | 50,144 | 0.0 | 25.7 |
Commodities – Gold prices rose steady on Thursday and currently stood at USD 4,187 amid fed rate cut anticipation. On the other hand, oil prices stood at USD 62.96/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,187 | 0.6 |
| Silver ($) | 52.13 | 1.5 |
| Brent Crude ($) | 62.96 | 0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 26,051 | 59,091 |
| 100 DMA | 25,892 | 58,645 |
| 200 DMA | 25,832 | 58,251 |
Asian markets – Asian markets trading mix in the early morning trade. Hang Seng trading 0.2 pct in red, while Nikkei trading flat.
Indian Indices – India’s stock benchmarks likely to open at record high ahead of growth data on Friday as GIFT Nifty indicates. Benchmark Indices closed flatish after foreign investors book profit on Thursday.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 85,720 | 0.1 | 9.7 |
| Nifty | 26,215 | 0.0 | 10.9 |
| Nifty Bank | 59,737 | 0.4 | 17.5 |
| Nifty Midcap 100 | 61,113 | 0.1 | 6.8 |
| Nifty Smallcap 100 | 17,876 | -0.5 | -4.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1,255 | -270,886 |
| DII | 3,940 | 703,533 |
Stocks to watch
Positive Read through
- Voltamp – Gets LoI for an order worth Rs. 850 mn from Gujarat Energy Transmission Corporation.
- Fusion Finance – ICRA revises rating outlook to stable from negative.
- VST Tillers – Unveils nextgen EV power tillers and power weeders.
- UTI AMC – SEBI introduces additional incentives for mutual fund distributors to boost participation.
- Cartrade – GS Funds seller, Smallcap World Fund buys 1.44 million shares via block deals.
- Adani Ent – To acquire 72.80 pct stake in Flight Simulation Technique for an enterprise value of Rs. 8.20 bn.
- Wipro – Multi-year engagement with Odido, Netherlands to transform its IT landscape.
- Bandhan Bk – To sell NPAs worth Rs. 32.12 bn via bidding and written-off portfolios worth Rs. 37.19 bn.
- LG Electronics – Undertakes leadership reorganisation to drive post-IPO growth.
- IGL – From PTI, Haryana to launch new CGD policy to boost infrastructure investment.
- Zydus Life – Gets tentative US FDA nod for diabetes drug empagliflozin and linagliptin tablets.
- Newgen Software – Bags Rs. 140 mn order from a Malaysian bank.
- Indus Towers – ICRA upgrades credit rating to AAA from AA+, outlook revised to stable.
- Lodha Developers – HC orders refund of Rs. 5.21 bn held as security and lien of ED on V Hotel lifts.
- Refex – Bags order worth Rs. 1 bn for excavation, loading and transportation.
Negative Read through
- GAIL – PNGRB approves an increase in pipeline tariff to Rs. 65.69, company asked for Rs. 78 per mmBtu.
- Ashoka Buildcon – Temporary suspension by NHAI for ongoing or future bids for 1 month.
- Emcure Pharma – GST authorities conduct search and seizure operations at company’s premises.
- MTAR – Promoter sells 2.4 million shares, Bajaj Finserv MF and Motilal Oswal MF buyers via block deals.
Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Advisor before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
