Market Commentary
Global markets
US market closed lower on Thursday over escalating war and soaring oil prices. Dow Jones closed red by 1.6 pct. While Nasdaq closed down by 1.8 pct
Asian markets
Asian markets trading lower in the early morning trade. Hang Seng trading down by 0.2 pct. While Nikkei trading muted by 1.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,677 | -1.6 | -2.9 |
| Nasdaq | 22,311 | -1.8 | -4.0 |
| Hang Seng | 25,673 | -0.2 | 0.2 |
| Nikkei | 53,786 | -1.2 | 6.7 |
Commodities
Gold prices rose and currently stood at USD 5,114 over safe heaven commodity demand. On the other hand, oil prices stood at USD 101.08/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 5,114 | 0.7 |
| Silver ($) | 84.43 | 0.7 |
| Brent Crude ($) | 101.08 | -0.7 |
Indian Indices
India’s equity benchmarks are likely to open gap down as GIFT Nifty indicates. Benchmark Indices continued losses on Thursday on raging Middle East war that kept investors sentiment muted.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,034 | -1.1 | -10.8 |
| Nifty | 23,639 | -1.0 | -9.5 |
| Nifty Bank | 55,100 | -1.1 | -7.5 |
| Nifty Midcap 100 | 56,253 | -0.4 | -7.0 |
| Nifty Smallcap 100 | 16,305 | -0.7 | -7.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,417 | 59,635 |
| 100 DMA | 25,673 | 59,201 |
| 200 DMA | 25,325 | 57,509 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -7049 | -95,894 |
| DII | 7449 | 171,028 |
Stocks to watch
| Positive Read through | Negative Read through |
| Gravita India – To buy 99 pct stake in Rashtriya Metal Industries for Rs. 5.59 bn | Raymond Realty – Income tax department issues show cause notice to arm TXRL post survey |
| Godrej Props – Buys 44-acre land parcel in Coimbatore with plotted GDV of Rs. 4.50 bn | Gandhar Oil – If war continues, it may have an impact on UAE operations |
| Max Fin – Board approves fund raise worth Rs. 20 bn via QIP or other methods | Balaji Amines – Faces logistics disruptions in ammonia procurement due to West Asia war |
| Landmark Cars – Sets up new service centre in Hyderabad for M&M | |
| HFCL – Enters into a 5-year agreement, bags order worth 102 bn for supply of optical fiber cables | |
| Vascon – Secures Rs. 1.16 bn Lotus Park development project in Ahmedabad | |
| Biocon – Gets US FDA nod for liraglutide prefilled pens after injection approval | |
| Kalpataru Proj – Signs redevelopment project in Andheri West with potential GDV of Rs. 14 bn | |
| Tata Consumer – Compromised X account has been fully recovered | |
| JK Lakshmi – Preferred bidder for 405-hectare limestone block in Assam, acquires NECM Cement | |
| Shaily Engg – Smallcap World Fund buys 6.43 lakh shares at Rs. 1,879/share via block deals | |
| Eternal, Swiggy & QSR – Government to allocate 20 pct of commercial LPG to eateries | |
| Kaynes Tech – BofA Securities buys 1.16 lakh shares at Rs. 3,614.40/share via block deals |
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