Market Commentary
Global markets
US market closed mixed on Monday over Middle East peace talks, while tech stocks declined. Dow Jones closed up by 0.3 pct. While Nasdaq closed lower by 1.9 pct.
Asian markets
Asian markets trading lower in the early morning trade. Hang Seng trading down by 1 pct. While Nikkei trading green by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 51,718 | 0.3 | 7.6 |
| Nasdaq | 26,166 | -1.3 | 12.6 |
| Hang Seng | 23,540 | -1.0 | -8.2 |
| Nikkei | 71,711 | -0.9 | 42.3 |
Commodities
Gold prices fell and currently stood at USD 4,142 over easing inflation concern. On the other hand, oil prices stood at USD 77.37/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,142 | -0.7 |
| Silver ($) | 63.29 | -0.2 |
| Brent Crude ($) | 77.37 | -1.3 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices rebounded on Monday led by heavyweights and a rebound in IT stocks. Further, improving sentiment from US-Iran peace talks and softer oil prices supported broader risk appetite.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,094 | 0.4 | -9.5 |
| Nifty | 24,102 | 0.4 | -7.8 |
| Nifty Bank | 57,935 | 0.4 | -2.8 |
| Nifty Midcap 100 | 62,729 | 0.3 | 3.7 |
| Nifty Smallcap 100 | 18,897 | 0.6 | 6.7 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,846 | 55,330 |
| 100 DMA | 24,197 | 56,433 |
| 200 DMA | 24,894 | 57,063 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -635 | -348,020 |
| DII | 1035 | 459,231 |
Stocks to watch
| Positive Read through | Negative Read through |
| BEL – Bags additional orders worth Rs. 10.81 bn since last disclosure. | Craftsman – Promoter likely to sell up to 2 pct stake via block deals at Rs. 9,250/share. |
| Pharma Cos – USFDA reached out to drug manufacturer association for critical cancer drug supply. | Acutaas Chem – GST anti-evasion department searches company’s Sachin facility and offices. |
| Hind Zinc – MoU with Advantek Associates & Aero Eagle Auto to explore hydrogen fuel solutions. | Vedanta – Promoter likely to sell up to 1.7 pct stake via block deals at a 4.9 pct discount to CMP |
| Fertiliser Cos – Four fertiliser ships successfully cross the Strait of Hormuz. | |
| Titan – Board approves appointment of S. Vijayakumar as Chairman and Additional Director | |
| Info Edge – Rs. 49 bn invested across 135 start-ups is now worth Rs. 413 bn. | |
| Hydro Power Cos – Himachal government signs agreements for 19 hydropower projects worth Rs. 33.4 bn. | |
| Syrma SGS – 60:40 JV with Japan’s Kaga Electronics for EMS manufacturing unit in India | |
| Lemon Tree – Signs Lemon Tree Hotel, Janakpur in Nepal | |
| JSW Infra – launches QIP to raise up to Rs. 75.02 bn. | |
| Apar Ind – Arm to supply base oils to Saudi Aramco. | |
| Birla Corp – Bikram coal mine in MP commences operations. | |
| IIFL Fin – To consider equity raise and expansion of medium-term note programme. |
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