Market Commentary
Global markets
US market closed higher on Tuesday ahead of Fed Interest rate decision. Dow Jones closed green by 0.1 pct. While Nasdaq closed up by 0.5 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.2 pct. While Nikkei trading up by 2.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,993 | 0.1 | -2.2 |
| Nasdaq | 22,479 | 0.5 | -3.3 |
| Hang Seng | 25,812 | -0.2 | 0.7 |
| Nikkei | 54,898 | 2.2 | 8.9 |
Commodities
Gold prices fell and currently stood at USD 4,992 ahead of Fed decision. On the other hand, oil prices stood at USD 102.10/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,992 | -0.3 |
| Silver ($) | 78.71 | -0.8 |
| Brent Crude ($) | 102.10 | -1.4 |
Indian Indices
India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark Indices extended gains on Tuesday lifted by metals and a rebound in auto stocks after a recent slide, though worries over high crude prices capped gains.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,070 | 0.8 | -10.7 |
| Nifty | 23,581 | 0.7 | -9.8 |
| Nifty Bank | 54,876 | 0.9 | -7.9 |
| Nifty Midcap 100 | 55,174 | 1.0 | -8.8 |
| Nifty Smallcap 100 | 15,912 | 0.6 | -10.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,247 | 59,306 |
| 100 DMA | 25,600 | 59,093 |
| 200 DMA | 25,304 | 57,492 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4,722 | -120,717 |
| DII | 5,225 | 198,824 |
Stocks to watch
| Positive Read through | Negative Read through |
| Bajaj Fin & Shriram Fin – RBI not considering any proposal to cap tenures or force rotation of top NBFC management, as per reports | Kirloskar Ferrous – Manufacturing operations at one of two moulding lines in Solapur impacted by LPG shortage |
| Shree Cement – Declared preferred bidder for 373-hectare limestone block in Andhra Pradesh | Tamilnad Petro – HCD unit shut down on geopolitical factors after POP unit disruptions |
| Hexaware Tech – Launches AI enterprise agent platform with 600+ ready-to-deploy agents | |
| Thomas Cook – Board meeting on March 20 to restructure capital structure | |
| Ceigall – Arm emerges lowest bidder for two HAM projects worth Rs. 2.07 bn | |
| Strides Pharma – To buy, in-license several Sandoz brands in sub-Saharan Africa for USD 12 mn | |
| Swan Defence – Promoter to sell 5.01 pct via OFS, floor price Rs. 1,900 to raise Rs. 5 bn | |
| Tech Mah – London arm to acquire Midad’s 20 pct stake in Arabia arm for ~Rs. 2.06 bn | |
| Tata Steel – Board approves amalgamation of Neelachal Ispat, investment of USD 2 bn in Tata Steel Holdings | |
| Urban Company – SBI Mutual Fund buys shares worth Rs. 6.32 bn (4 pct equity) via block deals | |
| Godrej Prop – Acquires 20-acre land parcel in Bengaluru with sales potential of Rs. 13.5 bn | |
| Varun Beverages – Arm to acquire Crickley Dairy, South Africa at an enterprise value of Rs. 1.32 bn | |
| Cleanmax – Reported profit Vs loss, margin at 62.30 pct vs 49.30 pct YoY |
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