Market Commentary
Global markets – US indices close mixed on Tuesday as investors waited for the Federal Reserve rate cut decision. Dow Jones closed red by 0.4 pct. While Nasdaq closed in green by 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,560 | -0.4 | 11.8 |
| Nasdaq | 23,576 | 0.1 | 22.1 |
| Hang Seng | 25,304 | -0.5 | 26.1 |
| Nikkei | 50,448 | -0.4 | 26.5 |
Commodities – Gold prices edges higher ahead of FOMC decision and currently stood at USD 4,215. On the other hand, oil prices stood at USD 61.99/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,215 | 0.2 |
| Silver ($) | 61.05 | 0.6 |
| Brent Crude ($) | 61.99 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 26,041 | 59,414 |
| 100 DMA | 26,082 | 59,357 |
| 200 DMA | 25,931 | 58,789 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading down by 0.5 pct. While Nikkei trading negative by 0.4 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices, Sensex and Nifty, closed 0.5 pct lower, over lingering uncertainty over a U.S. trade deal and caution ahead of Fed rate decision.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,666 | -0.5 | 8.4 |
| Nifty | 25,839 | -0.5 | 9.3 |
| Nifty Bank | 59,222 | -0.0 | 16.4 |
| Nifty Midcap 100 | 59,676 | 0.3 | 4.3 |
| Nifty Smallcap 100 | 17,245 | 1.1 | -8.1 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3,760 | -289501 |
| DII | 6,225 | 736,235 |
Stocks to watch
Positive Read through
- EaseMyTrip – Official travel partner for India debut edition of World Tennis League.
- GPT Infra – Declared lowest bidder for a project worth Rs. 1.99 bn.
- Highway Infra – Gets LoA for project worth Rs. 3.29 bn from NHAI.
- Dilip Buildcon – Lowest bidder for a 25-year contract from NALCO, base mining charge Rs. 423 per tonne.
- Pine Labs – Launches India’s first agentic bill payments experience on ChatGPT and Claude.
- Zaggle – 5-year referral agreement with Mastercard.
- Vintage Coffee – MoU with Telangana government to set up premium freeze-dried coffee plants.
- Tata Power – Commissions Koteshwar-Rishikesh transmission lines.
- Hind Zinc – Silver extends record run, hits all-time high of USD 61 per ounce.
- Godrej Ind – Group to invest over Rs. 100 bn in Telangana.
- Anupam – Definitive agreement to acquire US-based Jayhawk Fine Chem at an enterprise value of USD 134 mn.
- NLC India – Unit 2 of 660 MW at Ghatampur thermal power project starts operations.
- AU SFB – Gets Finance Ministry nod to increase foreign investment limit from 49 pct to 74 pct.
- IRB Infra – November toll collections up 16 pct year-on-year at Rs. 7.16 bn.
- Graphite – Exclusive partnership with Kivoro for graphene-based heat transfer additives in India.
- Supreme Petro – Unit at Manali, Chennai resumes full operations after rain disruption.
- SEPC – Led JV wins Rs. 860 mn aviation infra project at Bihta Airport, Patna.
Negative Read through
- Indigo – DGCA revises order, now asks 10 pct cut in winter schedule versus 5 pct earlier.
- JSW Energy – GQG Partners sell nearly 15 mn shares, 0.87 pct stake, at Rs. 444 per share via block deals.
- Swiggy – To raise up to Rs. 100 bn via QIP, indicative floor price at Rs. 371 per share.
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