Market Commentary
Global markets – US indices rebounded on Thursday over easing inflation. Dow Jones closed green by 0.1 pct. While Nasdaq closed in positive by 1.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,951 | 0.1 | 12.7 |
| Nasdaq | 23,006 | 1.4 | 19.1 |
| Hang Seng | 25,576 | 0.3 | 27.5 |
| Nikkei | 49,568 | 1.2 | 24.2 |
Commodities – Gold prices remain steady and currently stood at USD 4,315 supported by Fed Rate cut prospects. On the other hand, oil prices stood at USD 59.65/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,315 | -0.4 |
| Silver ($) | 64.72 | -1.2 |
| Brent Crude ($) | 59.65 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,818 | 58,409 |
| 100 DMA | 25,327 | 56,770 |
| 200 DMA | 24,784 | 55,428 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading up by 0.3 pct. While Nikkei trading in red by 1.2 pct.
Indian Indices – India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark Indices closed flat on Thursday as a lack of fresh triggers kept investors cautious, while gains in information technology stocks capped broader market losses.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,481 | -0.1 | 8.1 |
| Nifty | 25,815 | -0.0 | 9.2 |
| Nifty Bank | 58,912 | -0.0 | 15.8 |
| Nifty Midcap 100 | 59,592 | 0.3 | 4.2 |
| Nifty Smallcap 100 | 17,160 | 0.1 | -8.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 595 | -296370 |
| DII | 2700 | 753,991 |
Stocks to watch
Positive Read through
- Max Health – To enter Pune with a 450-bed hospital in three years with an investment of Rs. 10 bn.
- Voltas – Expects decline to moderate in Q3 with sequential improvement.
- Amber Ent – Plans to expand R&D centre for HVAC products and invest Rs. 5 bn in R&D unit.
- Aarti Ind – Bags multiple long-term agreements for methanol and toluene feedstock supply in GCC and Southeast Asia.
- Borosil Re – Tenure of countervailing duty on imports of solar glass from Malaysia extended.
- Apollo Micro – IDL Explosives gets license for manufacturing 50MTPA HMX and 500MTPA TNT.
- Metals – Finance Ministry imposes ADD on import of cold rolled non-oriented electrical steel from China.
- Reliance – Reliance Consumer Products acquires Tamil Nadu’s heritage nutrition brand Udhaiyam.
- Airtel – Singtel relinquishes several rights and to call remaining Rs. 157.4 bn from 2021 rights issue.
- Biocon – US FDA classifies New Jersey unit as voluntary action indicated and issues EIR.
- HCLTech – To buy HP’s telco solutions business and take on 1,500 engineers for up to USD 160 mn.
- Aeroflex Ind – Board approves fund raise of up to Rs. 550 mn via preferential issue and Rs. 980 mn capex.
- BLS Intl – Delhi High Court sets aside MEA order barring it from tenders of India missions for 2 years.
- Lupin – Enters exclusive licensing agreement with Neopharmed for gastro drug in Philippines and Brazil.
- Refex – Signs a contract for supply of WTG for wind power projects of 148 MW.
- GPT Infra – Bags contract worth Rs. 18.05 bn from MCGM, Mumbai for construction of flyover.
- Dalmia Bharat – Expects high single-digit volume growth for Q3.
Negative Read through
- IT – Accenture FY26 guidance unchanged despite a good Q1, discontinue separate AI metrics.
- IndiGo – CCI to probe complaints against airline for recent flight disruption.
- Ola Electric – Promoter sells shares worth of Rs. 3.24 bn to pay off debt, holding now at 34.6 pct.
- Shree Cement – Lockout of cement plant at Raipur with effective from 18 December on workmen non-co-operation.
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