Market Commentary
Global markets
US market closed higher on Monday as sharp drop in oil prices sparks uptick in street. Dow Jones closed green by 0.8 pct. While Nasdaq closed up by 1.2 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng trading up by 1 pct. While Nikkei trading up by 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,946 | 0.8 | -2.3 |
| Nasdaq | 22,374 | 1.2 | -3.7 |
| Hang Seng | 26,105 | 1.0 | 1.9 |
| Nikkei | 54,013 | 0.5 | 7.2 |
Commodities
Gold prices rose and currently stood at USD 5,023 after profit booking. On the other hand, oil prices stood at USD 104.46/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 5,023 | 0.3 |
| Silver ($) | 81.03 | 0.3 |
| Brent Crude ($) | 103.01 | 2.0 |
Indian Indices
India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates. Benchmark Indices closed positive on Monday led by value buying in heavyweight and auto stocks.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,502 | 1.3 | -11.4 |
| Nifty | 23,408 | 1.1 | -10.4 |
| Nifty Bank | 54,413 | 1.2 | -8.7 |
| Nifty Midcap 100 | 54,614 | -0.3 | -9.7 |
| Nifty Smallcap 100 | 15,810 | -0.5 | -10.7 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,358 | 59,518 |
| 100 DMA | 25,648 | 59,161 |
| 200 DMA | 25,317 | 57,500 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -9,365 | -115,976 |
| DII | 12,593 | 193,599 |
Stocks to watch
| Positive Read through | Negative Read through |
| Tata Motors CV – To hike prices by 1.5 pct from April 1 due to higher input costs | Redington – Operations in Gulf restricted, impact yet to be assessed |
| Reliance – Signs 15-year green ammonia supply deal with Samsung C&T for over USD 3 bn | Alkyl Amines – Suspends production of key products due to ammonia shortage |
| Oberoi Realty – Signs development agreement for MHADA lands in Versova with free sale component of 17.18 lakh sq ft | Tamilnad Petro – Disruption of operations at company’s propylene oxide plant, declared a force majeure event |
| NMDC, GMDC – Sign MoU for collaboration in rare-earth elements supply | |
| Adani Ent – NCLT sanctions composite scheme of arrangement amongst AGETL, AEBPL and company | |
| Sagar Cem – To sell 7.24 pct stake in Andhra Cements via OFS to meet MPS norms | |
| Leela Palaces – Buys 71-villa resort in Coorg for Rs. 5.60 bn, potential sales of Rs. 1.65-1.75 bn | |
| Omaxe – Arm receives RERA certificates for projects in Haryana and Punjab | |
| Power Mech – Bags Rs. 7.1 bn order from Adani Group | |
| Cleanmax Enviro – To buy Kintech Solarbikaner for Rs. 380 mn to expand hybrid wind-solar capacity | |
| Zydus Life – To buy license for progeria drug from Sentynl, Korea | |
| L&T Tech – Launches Nvidia-powered digital platform for advanced respiratory diagnostics | |
| RVNL – Bags Rs. 950 mn, 36-month NMDC contract | |
| NOCIL – Board clears Rs. 1.30 bn rubber chemicals capex | |
| Sun Pharma – US FDA accepts application for use of Ilumya for psoriatic arthritis |
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