Market Commentary
Global markets – US indices close higher on Wednesday after interest rate cut. Dow Jones closed green by 1.0 pct. While Nasdaq closed in positive by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 48,057 | 1.0 | 13.0 |
| Nasdaq | 23,654 | 0.3 | 22.5 |
| Hang Seng | 25,583 | 0.2 | 27.5 |
| Nikkei | 50,308 | -0.6 | 26.1 |
Commodities – Gold prices climbed after rate cut and currently stood at USD 4,221. On the other hand, oil prices stood at USD 62.40/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,221 | -0.2 |
| Silver ($) | 62.40 | 0.1 |
| Brent Crude ($) | 62.40 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,691 | 57,958 |
| 100 DMA | 25,278 | 56,632 |
| 200 DMA | 24,690 | 55,125 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading up by 0.2 pct. While Nikkei trading negative by 0.6 pct.
Indian Indices – India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark Indices, closed lower on Wednesday on concern the U.S. Fed may signal a more hawkish 2026 outlook ahead of the interest rate decision.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,391 | -0.3 | 8.0 |
| Nifty | 25,758 | -0.3 | 8.9 |
| Nifty Bank | 58,960 | -0.4 | 15.9 |
| Nifty Midcap 100 | 59,007 | -1.1 | 3.2 |
| Nifty Smallcap 100 | 17,090 | -0.9 | -8.9 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1,651 | -291152 |
| DII | 3,752 | 739,987 |
Stocks to watch
Positive Read through
- KEI Ind—Starts phase 1 of commercial production of cables at Sanand unit.
- Swiggy – Company saw more than 4.5x demand for Rs. 100 bn QIP.
- Mazagon – Signs MoU with Brazilian and Indian Navy to maintain Scorpène-class submarines and other ships.
- TCS – To acquire Salesforce partner Coastal Cloud for USD 700 mn.
- SBI Life – SAT upholds IRDAI order directing transfer of all assets and liabilities of SILIC to company.
- SBI, BOB – Get RBI nod to set up digital payments platforms.
- Cipla – Launches Eli Lily’s obesity drug Yurpeak (tirzepatide).
- Lloyds Metals – To buy 50 pct in Nexus Holdco, Dubai for USD 55 mn, signs MoU with Tata Steel.
- Lemon Tree – Signs two new properties in Andhra Pradesh and Chhattisgarh.
- Puravankara – Arm gets LoA for a project worth Rs. 5.1 bn for one Bangalore luxury project.
- Escorts Kubota – Launches BS-V compliant construction equipment range at Excon 2025.
- Prestige Est – Arms invest Rs. 9.39 bn in Bharatnagar Buildcon for 67 pct stake.
- Central Bank – Signs distribution agreement with Bandhan AMC for mutual fund products.
- Petronet LNG – Inks Rs. 120 bn loan agreement for petchem and other capex with SBI and BOB.
- Anand Rathi – Promoter entities buy shares from open market.
- Linde India – SAT upholds need for shareholder nod for material related-party contracts.
- Tata steel – To buy 50.1 pct equity in Thriveni Pellets for Rs. 6.36 bn, expands NINL capacity.
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