Market Commentary
Global markets
US market closed higher on Wednesday ahead of Nvidia’s earning. Dow Jones closed up by 0.6 pct. While Nasdaq closed positive by 1.3 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading in red by 0.5 pct. While Nikkei trading green by 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 49,482 | 0.6 | 3.0 |
| Nasdaq | 23,152 | 1.3 | -0.4 |
| Hang Seng | 26,632 | -0.5 | 3.9 |
| Nikkei | 58,856 | 0.5 | 16.8 |
Commodities
Gold prices rose and currently stood at USD 5,185 on geopolitical uncertainty. On the other hand, oil prices stood at USD 70.79/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 5,185 | 0.4 |
| Silver ($) | 88.73 | -0.4 |
| Brent Crude ($) | 70.79 | -0.1 |
Indian Indices
India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark Indices rebounded on Wednesday as IT stocks clawed back some of the previous session’s losses and as metals also rose, overpowering a drop in index heavyweight Reliance and state-owned lenders.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,276 | 0.1 | -3.5 |
| Nifty | 25,482 | 0.2 | -2.5 |
| Nifty Bank | 61,043 | 0.0 | 2.5 |
| Nifty Midcap 100 | 59,406 | 0.6 | -1.8 |
| Nifty Smallcap 100 | 17,118 | 0.9 | -3.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,714 | 59,832 |
| 100 DMA | 25,742 | 59,031 |
| 200 DMA | 25,341 | 57,362 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 2992 | -38,725 |
| DII | 5119 | 93,173 |
Stocks to watch
| Positive Read through | Negative Read through |
| Reliance Ind – Arm allots shares in 70:30 ratio to Reliance Intelligence & Meta (Facebook). | Home First – True North Fund, Aether (Mauritius) likely to sell up to 6.8 pct equity via block deals. |
| LT Foods – US duty rate on soybean meal exports by company reduced from 340.27 pct to 75.48 pct | IRFC – Govt to not exercise greenshoe option in OFS, raises JPY-equivalent USD 400 mn ECB. |
| Zydus Life – Plans to launch semaglutide injection in India on day 1 of patent expiry. | Sanofi India – Q4 margin shrank 130 bps, 3rd consecutive quarter of declining sales growth. |
| CG Power – To sell stake in un-operative Indonesian JV for Rs. 840 mn. | Lupin – Maha GST Dept initiates inspection & search proceedings at registered office of company |
| KSB – Q4 margin expanded 310 bps, sales increased 8 pct YoY. | |
| Sanofi Cons – Q4 sales jumped 47 pct, Profit rose 50 pct YoY. | |
| E2E Networks – Launches QIP to raise funds, floor price at 2.6 pct premium to CMP. | |
| RBL Bank – SBI MF gets RBI nod to up stake in co to 9.99 pct. | |
| Gravita – Board approves capex of Rs. 490 mn at Mundra, Gujarat unit. | |
| Saatvik Green – Bags Rs. 870 mn solar PV module order. | |
| Piramal Finance – CARE upgrades long-term rating to AA+ from AA | |
| Maha Seamless – Promoter acquires 0.46 pct stake via open market. | |
| CAMS/KFIN – JV MFC Technologies appoints Rajesh Krishnamoorthy as CEO. | |
| Nalco – Launches IA91 grade aluminium alloy ingot. | |
| RVNL – Bags orders worth Rs. 6.56 bn from NDMC. |
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