Market Commentary
Global markets
US market closed negative on Friday led by tech weakness that offset defensive stocks gains. Dow Jones closed down by 0.1 pct. While Nasdaq closed lower by 0.2 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading up by 1.9 pct. While Nikkei trading red by 0.7 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 51,881 | -0.1 | 7.9 |
| Nasdaq | 25,297 | -0.2 | 8.8 |
| Hang Seng | 23,110 | 1.9 | -9.8 |
| Nikkei | 68,869 | -0.7 | 36.6 |
Commodities
Gold prices fell and currently stood at USD 4,067 over renewed geopolitical concern. On the other hand, oil prices stood at USD 73.27/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,067 | -0.5 |
| Silver ($) | 58.73 | -0.8 |
| Brent Crude ($) | 73.27 | -0.5 |
Indian Indices
India’s equity benchmarks likely to open flat as GIFT Nifty indicates. Benchmark indices closed positive on Thursday over improved sentiments alongside over declining oil prices.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,100 | 0.1 | -9.5 |
| Nifty | 24,056 | 0.1 | -7.9 |
| Nifty Bank | 58,177 | 0.0 | -2.4 |
| Nifty Midcap 100 | 61,795 | -0.5 | 2.2 |
| Nifty Smallcap 100 | 18,879 | -0.5 | 6.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,847 | 55,424 |
| 100 DMA | 24,173 | 56,410 |
| 200 DMA | 24,888 | 57,102 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 383 | -349,462 |
| DII | 5747 | 469,296 |
Stocks to watch
| Positive Read through | Negative Read through |
| Amber Ent – Schweizer Electronic and Ascent Circuits plan a strategic Indo-German PCB collaboration. | Vikran Engg – Company decided not to proceed with an order worth Rs. 3.54 bn due to delays. |
| PTC Industries – Board approved Rs. 18 bn fund raise via QIP. | WPIL – MP Jal Nigam debarred the company from participating in any future tenders. |
| Hind Zinc – Signed a composite licence agreement with Uttar Pradesh for a rare-earth element block | JB Chemicals – US FDA issued 2 observations for the company’s API unit in Srikakulam. |
| Persistent Sys – To acquire a 21 pct stake in Germany-listed Nagarro SE, availing €1.4 billion bridge financing. | SPARC – Terminated the licence agreement with CMS Bridging DMCC (CMS). |
| KEC International – Power Grid revoked the company’s exclusion from orders. | |
| Transrail Lighting – Bagged new orders worth Rs. 4.59 bn. | |
| REC/PFC – Board approved merger with PFC in a swap ratio of 88 PFC shares for 100 REC shares. | |
| Hexaware – Became an Anthropic-authorised reseller for Amazon Bedrock. | |
| HDFC Bank – External review cleared concerns related to the former chairman, paving the way for CEO appointment. | |
| Likhitha Infrastructure – Bagged an order worth Rs. 5.10 bn from China Petroleum–Abu Dhabi. | |
| Waaree Ener – US CBP drew no adverse inference against the company, limited to a narrow subset. | |
| Indoco Remedies – Goa plant successfully cleared the Malta Medicines Authority audit. | |
| Alembic Pharma – Received final US FDA approvals for Dapsone Gel and Oseltamivir Phosphate. | |
| Zydus – To acquire a 50 pct stake in Zydus Sunshine for USD 5 mn to form a JV with Sunshine Health Lanka. | |
| Heritage Foods – US FDA issued Form 483 with 7 observations for biologics manufacturing unit in Bachupally. | |
| KMBL – MD & CEO Ashok Vaswani will not seek re-appointment upon completion of his term. | |
| Adani Green – Operationalised a 150 MW solar power project at Khavda, Gujarat. |
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