Market Commentary
Global markets
US market closed negative on Wednesday amid Middle East tensions and rising oil prices. Dow Jones closed lower by 1.2 pct. While Nasdaq closed red by 0.9 pct.
Asian markets
Asian markets trading negative in the early morning trade. Hang Seng trading 1.3 pct in red and Nikkei trading negative by 1.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 50,692 | -1.2 | 5.5 |
| Nasdaq | 26,853 | -0.9 | 15.5 |
| Hang Seng | 25,296 | -1.3 | -1.3 |
| Nikkei | 67,101 | -1.9 | 33.1 |
Commodities
Gold prices edged higher and currently stood at USD 4,471 amid dollar weakness. On the other hand, oil prices stood at USD 96.54/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,471 | 0.9 |
| Silver ($) | 73.52 | 1.1 |
| Brent Crude ($) | 96.54 | -0.8 |
Indian Indices
India’s equity benchmarks are likely to open negative as GIFT Nifty indicates. Benchmark Indices closed lower on Wednesday, dragged by IT sector, while banking sector outperformed the broader market.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,346 | -0.4 | -12.8 |
| Nifty | 23,405 | -0.3 | -10.4 |
| Nifty Bank | 54,185 | 0.9 | -9.1 |
| Nifty Midcap 100 | 60,687 | -0.4 | 0.3 |
| Nifty Smallcap 100 | 18,032 | -0.1 | 1.8 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,700 | 54,415 |
| 100 DMA | 23,678 | 54,038 |
| 200 DMA | 23,859 | 54,701 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -5,617 | -316,212 |
| DII | 5,741 | 407,620 |
Stocks to watch
| Positive Read through | Negative Read through |
| Jain Irrigation: Commissions around 20,000 TPA biochar facility in Jalgaon, Maharashtra. | RajeshExports: SEBI passes interim order against company and promoter Rajesh Mehta. |
| Atlanta Electrical: Bags order worth Rs. 2.85 bn from Punjab State Transmission Corporation. | |
| Hero MotoCorp: Launches two flex fuel motorcycles compatible with E20-E85 fuel. | |
| JBM Auto: 49 pct e-bus market share in May as per Vahan, sold 157 buses. | |
| IEX: Electricity traded volume surges 19 pct, DAM rises 25 pct YoY in May. | |
| Bharat Forge: May class 8 truck orders rise both MoM and YoY. | |
| BHEL: Bags order worth Rs. 20 bn-25 bn from Dangote Petroleum, Nigeria. | |
| Skipper: Board approves pref issue of shares worth Rs. 4.33 bn at Rs. 470/sh to instl investors. | |
| Ideaforge: Board approves fund raise of up to Rs. 5 bn via QIP, preferential issue. | |
| Texmaco Rail: Partners Touax, TrinityRail to transform India’s Rs. 3,000 bn freight rail ecosystem. | |
| LTM: Launches managed secure service edge (SSE) solution with Cisco. | |
| Angel One: Client base rises 19.5 pct, avg daily orders up 18.5 pct YoY in May. | |
| NBCC: Bags orders worth Rs. 832 mn from Canara Bank. | |
| AurobindoPharma: TheraNym biologics facility inaugurated in Telangana. |
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