Market Commentary
Global markets
US market closed mixed on Wednesday as Iran tensions outweighed tame inflation. Dow Jones closed red by 0.6 pct. While Nasdaq closed green by 0.1 pct
Asian markets
Asian markets trading lower in the early morning trade. Hang Seng trading down by 1.2 pct. While Nikkei trading muted by 1.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,417 | -0.6 | -1.3 |
| Nasdaq | 22,716 | 0.1 | -2.3 |
| Hang Seng | 25,596 | -1.2 | -0.1 |
| Nikkei | 54,177 | -1.5 | 7.5 |
Commodities
Gold prices fell and currently stood at USD 5,153 over profit booking. On the other hand, oil prices spiked and stood at USD 100.10/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 5,153 | -0.5 |
| Silver ($) | 84.80 | -1.1 |
| Brent Crude ($) | 100.10 | 6.9 |
Indian Indices
India’s equity benchmarks are likely to open gap down as GIFT Nifty indicates. Benchmark Indices declined on Wednesday as the escalating Middle East war and choppy oil prices fanned worries about their potential impact on inflation and growth.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,863 | -1.7 | -9.8 |
| Nifty | 23,866 | -1.6 | -8.7 |
| Nifty Bank | 55,735 | -2.1 | -6.5 |
| Nifty Midcap 100 | 56,461 | -1.3 | -6.7 |
| Nifty Smallcap 100 | 16,414 | -0.4 | -7.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,463 | 59,714 |
| 100 DMA | 25,693 | 59,223 |
| 200 DMA | 25,332 | 57,510 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -6267 | -88,844 |
| DII | 4965 | 163,578 |
Stocks to watch
| Positive Read through | Negative Read through |
| Jubilant Food – Starts production at commissary at Raigad in Maharashtra | Sectco Auto – Pollution board order to close one unit. |
| Ramky Infra – Set to acquire a water and waste water management company | Manufacturing Cos – US Initiates section 301 trade act investigation related to manufacturing sectors |
| Wabag – Received Mega MPP order of Rs. 10 bn from CMWSSB for 45MLD TTRO plant in Chennai | Borosil – Operations in Jaipur impacted by gas shortage, suspended at one unit |
| Kec – Wins new T&D orders worth Rs. 14.76 bn, orderbook now at Rs. 228 bn | Aether Ind – Fire at warehouse, loss yet to be ascertained; insurance cover in place |
| Craftsman Auto – Board clears phased consolidation of aluminium business | MGL – Curtailed gas supply, prioritisation underway; Prudential Plc ups stake by 0.06 pct |
| Wipro – Bags multi-year modernisation deal from TruStage for its retirement services business | Indo Tech – Customer cancels Rs. 650 mn order due to execution delay |
| Omnitech Engg – Bags 5-year Rs. 9.2 bn contract from Weatherford Products GmbH | OMCs/Paints – Crude surges over 7 pct, Brent back near USD 100/bbl on tanker attack near Iraq |
| ONGC/Oil – Crude surges over 7 pct, Brent back near USD 100/bbl on tanker attack near Iraq |
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