Market Commentary
Global markets
US market extended gains on Monday over tech rally and Middle East hopes. Dow Jones closed up by 0.1 pct. While Nasdaq closed green by 0.4 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading up by 1.3 pct. While Nikkei trading negative by 1.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 51,084 | 0.1 | 6.3 |
| Nasdaq | 27,086 | 0.4 | 16.5 |
| Hang Seng | 25,736 | 1.3 | 0.4 |
| Nikkei | 65,833 | -1.6 | 30.6 |
Commodities
Gold prices remain steady and currently stood at USD 4,488 amid US-Iran uncertainty. On the other hand, oil prices stood at USD 94.63/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,488 | 0.0 |
| Silver ($) | 75.35 | 0.7 |
| Brent Crude ($) | 94.63 | -0.5 |
Indian Indices
India’s equity benchmarks are likely to open gap down as GIFT Nifty indicates. Benchmark Indices extended losses on Monday over renewed concern in Middle East and expectations of weak monsoon.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,267 | -0.7 | -12.9 |
| Nifty | 23,382 | -0.7 | -10.5 |
| Nifty Bank | 53,643 | -1.1 | -10.0 |
| Nifty Midcap 100 | 60,827 | -1.5 | 0.6 |
| Nifty Smallcap 100 | 17,979 | -0.9 | 1.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,687 | 54,474 |
| 100 DMA | 24,522 | 56,996 |
| 200 DMA | 24,978 | 57,013 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3,991 | -302,233 |
| DII | 5,109 | 392,290 |
Stocks to watch
| Positive Read through | Negative Read through |
| Hero Moto – Good auto sales print for May, sales slightly higher than estimates | NMDC – May offtake down 7 pct, production rose 20 pct YoY |
| Info Edge – Jobspeak report shows white-collar hiring remains stable in May, AI/ML hiring up 22 pct | Airlines/OMCs – Russia bans aviation fuel exports until November 30 |
| Oil/ONGC – Crude rises, Brent back above USD 95/bbl on US-Iran peace uncertainty | OMCs/CGDs – Crude rises, Brent back above USD 95/bbl on US-Iran peace uncertainty |
| Anant Raj – MoU with Haryana government to invest Rs. 250 bn for development of data centers and cloud services | Ola Electric – QIP launched, likely to raise up to Rs. 5 bn, indicative issue price at 9 pct discount to CMP |
| MOIL – Manganese ore and fines grade prices cut by up to 10 pct | Coal India – E-auction premium over notified price, May premium at 36 pct |
| Force Motors – Total May sales down 15.3 pct YoY at 2,614 units | NHPC – Government launches OFS of up to 6 pct equity with floor price of Rs. 71/share |
| BPCL – Consortium signs FPSO contract for Brazil project | Alkem Labs – 1.5 pct equity likely to change hands via block deals at 2 pct discount to CMP |
| Groww – Gets SEBI nod for State Street Global Advisors stake buy in AMC | Acme Solar – To raise up to Rs. 28 bn via QIP, indicative issue price at 9 pct discount |
| PNC Infra – Gets LoA for an EPC contract worth Rs. 1.94 bn | |
| Wipro – Arm to acquire additional 20 pct stake in Aggne Global for USD 28.5 mn |
Disclaimer: The views shared in blogs are based on personal opinions and do not reflect the company’s views. Investment involves risk, and it is advisable to consult a financial advisor before making any investment through the app. The decision to invest is solely that of the investor, and the company or its communication cannot be held responsible for it.
