Market Commentary
Global markets – US indices closed mixed on Thursday supported by Fed hopes but dragged by Amazon. Dow Jones closed red by 0.1 pct. While Nasdaq closed higher by 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,850 | -0.1 | 12.5 |
| Nasdaq | 23,505 | 0.2 | 21.7 |
| Hang Seng | 25,828 | -0.4 | 28.8 |
| Nikkei | 50,465 | -1.1 | 26.5 |
Commodities – Gold prices fell and currently stood at USD 4,204 ahead of PCE data. On the other hand, Oil prices stood at USD 63.09/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,204 | -0.0 |
| Silver ($) | 57.51 | 0.7 |
| Brent Crude ($) | 63.09 | -0.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,612 | 57,614 |
| 100 DMA | 25,247 | 56,537 |
| 200 DMA | 24,631 | 54,925 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading down by 0.4 pct. While Nikkei trading negative by 1.1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices closed slightly higher on Thursday ahead of RBI interest rate decision.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 85,265 | 0.2 | 9.1 |
| Nifty | 26,033 | 0.2 | 10.1 |
| Nifty Bank | 59,288 | -0.1 | 16.6 |
| Nifty Midcap 100 | 60,299 | -0.0 | 5.4 |
| Nifty Smallcap 100 | 17,607 | -0.2 | -6.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1944 | -284,646 |
| DII | 3661 | 723,278 |
Stocks to watch
Positive Read through
- Tata Power – Anticipates resumption of Mundra plant operations by dec 31.
- Reliance – S&P upgrades credit rating to A- from BBB+, outlook stable.
- Brookfield – Launches QIP to likely raise up to Rs. 35 bn at Rs. 320 per share indicative price.
- Seamec – Bags USD 43 mn, five-year charter hire contract from Hal.
- Raitel – Bags second work order this month worth Rs. 640 mn from CPWD.
- Zen Tech – Bags orders worth Rs. 1.20 bn for supply of comprehensive training node from Mod.
- Deepak Nitrite – Arm’s Rs. 5.15 bn nitric acid plant begins manufacturing operations.
- HCL Tech – Partners with US strategy to deploy its enterprise ai solution.
- Delta Corp – Promoter buys 1.4 mn shares (0.52 pct equity) at Rs. 68.46 per share via block deals.
- Lloyds Engg – Signs agreement with Italy-based Virtualabs for development of radar technology.
- Filatex – Court quashes GST claim of Rs. 920 mn.
- Diamond Power – Gets LOI for an order worth Rs. 7.47 bn from Adani Green for supply of cables.
Negative Read through
- Indigo – Assures DGCA of corrective actions, says operations will be normalise only by 10 February.
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.
