Market Commentary
Global markets
US market declined on Tuesday on worries about Middle East war. Dow Jones closed red by 0.2 pct. While Nasdaq closed down by 0.8 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng trading up by 0.4 pct. While Nikkei trading green by 2.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,124 | -0.2 | -4.0 |
| Nasdaq | 21,761 | -0.8 | -6.4 |
| Hang Seng | 25,160 | 0.4 | -1.8 |
| Nikkei | 53,616 | 2.6 | 6.4 |
Commodities
Gold prices rose and currently stood at USD 4,576 on a hope of war de-escalation. On the other hand, oil prices stood at USD 95.50/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,576 | 2.4 |
| Silver ($) | 73.51 | 3.1 |
| Brent Crude ($) | 95.50 | -4.5 |
Indian Indices
India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates. Benchmark Indices recovered on Tuesday after Trump postponed the bombing of Iran’s power grid amid conflicting signals about talk between two sides.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,068 | 1.9 | -13.1 |
| Nifty | 22,912 | 1.8 | -12.3 |
| Nifty Bank | 52,605 | 2.3 | -11.7 |
| Nifty Midcap 100 | 54,087 | 2.6 | -10.6 |
| Nifty Smallcap 100 | 15,495 | -2.6 | -12.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,137 | 59,084 |
| 100 DMA | 25,552 | 59,026 |
| 200 DMA | 25,291 | 57,479 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -8,009 | -154,932 |
| DII | 5,867 | 229,549 |
Stocks to watch
| Positive Read through | Negative Read through |
| Gold Financiers – Gold rebounds but still in bear market territory, rises over 2 pct | ONGC, OIL – Sharp fall in oil prices, Brent below USD 100/bbl as West Asia war cools off. |
| USL, Sun TV, RPSG – USL to sell RCB to JV of Birlas, Blackstone, Times, Bolt for Rs. 166.6 bn | |
| KMBL – Business of Kotak Mahindra Investments will be conducted internally by the bank. | |
| CGDS – To receive Rs. 8.15 bn from sale of land under JDA to a corporate group | |
| NTPC Green – Inks MoU with Nxtra Data for development of renewable energy projects | |
| Waaree Energies – Board approves capex worth Rs. 39 bn for glass manufacturing plant | |
| BPCL – JV bags 10,000 TPA green hydrogen contract from Numaligarh Refinery | |
| OMCs/Crude Sensitives – Sharp fall in oil prices, Brent fell USD 100/bbl as West Asia war cools off | |
| Samman Cap – IHC gets RBI nod to acquire 66.65 pct stake | |
| Manappuram Fin – Board meeting on March 30 to consider borrowing programme |
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