Market Commentary
Global markets
US market declined on Friday over escalating Middle East conflict and uptick in Oil prices. Dow Jones closed red by 0.9 pct. While Nasdaq closed negative by 1.6 pct.
Asian markets
Asian markets trading lower in the early morning trade. Hang Seng trading in red by 2.5 pct. While Nikkei trading down by 7 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,501 | -0.9 | -1.2 |
| Nasdaq | 22,387 | -1.6 | -3.7 |
| Hang Seng | 25,111 | -2.5 | -2.0 |
| Nikkei | 51,740 | -7.0 | 2.7 |
Commodities
Gold prices fell and currently stood at USD 5,092 over profit booking. On the other hand, oil prices rose and stood at USD 114.39/bbl as war escalates.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 5,092 | 1.5 |
| Silver ($) | 82.63 | 2.5 |
| Brent Crude ($) | 114.39 | 22.1 |
Indian Indices
India’s equity benchmarks are likely to open gap down as GIFT Nifty indicates. Benchmark Indices tumbled on Friday as the escalating U.S.-Israeli war with Iran sent crude prices surging and flipped global sentiment into risk-off mode.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,918 | -1.5 | -7.4 |
| Nifty | 24,450 | -1.3 | -6.4 |
| Nifty Bank | 57,783 | -2.2 | -3.0 |
| Nifty Midcap 100 | 57,393 | -0.7 | -5.1 |
| Nifty Smallcap 100 | 16,498 | -0.2 | -6.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,583 | 59,884 |
| 100 DMA | 25,728 | 59,236 |
| 200 DMA | 25,343 | 57,474 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -6030 | -71,559 |
| DII | 6972 | 143,266 |
Stocks to watch
| Positive Read through | Negative Read through |
| Coromandel International – Starts production at Kakinada phosphoric and sulphuric acid plants | Fertilisers, Ceramics – Iran crisis could disrupt supply of key chipmaking materials, South Korea warns |
| DRL – US DOJ closes matter regarding improper payments to health professionals in Ukraine | Paints, OMCs – 25 pct+ surge in oil price overnight, Brent above USD 110/bbl for first time in 4 years |
| PB Fintech – Tencent Cloud sells 1 pct stake, GS and Mirae Asset MF biggest buyers in block deal | CGDs – Domestic LPG price hiked by Rs. 60, Brent surges above USD 100/bbl amid West Asia war |
| Ramkrishna Forgings – Adds 40,000 TPA capacity, total to 3.11 MTPA | Ems, Autos – Iran crisis could disrupt supply of key chipmaking materials, South Korea warns |
| Refiners/Drilling Cos – 25 pct+ surge in oil price overnight, Brent above USD 110/bbl for first time in 4 years | Chemicals, Airlines – 25 pct+ surge in oil price overnight, Brent above USD 110/bbl for first time in 4 years |
| AU SFB – RBI eases promoter holding norms via ‘NOFHC’ for transition to universal bank | Lupin – US FDA issues Form 483 with two observations for Ankleshwar unit |
| Max Fin – Axis Bank gives nod to merger with Max Life, board meet on March 12 to mull fund raise | GNFC – Gail invokes force majeure, supply restricted to 60 pct of contracted value |
| Rites – Southern Railway contract value revised to Rs. 7.3 bn, gets Rs. 450 mn order from West Bengal | Meesho – Gets tax demand notice of Rs. 15 bn, company to contest |
| UltraTech – Jayant Dua to take charge as MD from April 1 | |
| IRB Infra – February toll revenue rises 22 pct to Rs. 7.46 bn from Rs. 6.14 bn YoY |
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