Market Commentary
Global markets
US market extended gains on Tuesday, supported by rally in chip stocks. Dow Jones closed up by 0.3 pct. While Nasdaq closed higher by 1.5 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng closed down by 0.6 pct. While Nikkei trading green by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,324 | 0.3 | 8.9 |
| Nasdaq | 26,213 | 1.5 | 12.8 |
| Hang Seng | 22,881 | -0.6 | -10.7 |
| Nikkei | 70,246 | 0.3 | 39.4 |
Commodities
Gold prices fell and currently stood at USD 3,981 over fading US-Iran peace prospects. On the other hand, oil prices stood at USD 73.22/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,981 | -0.7 |
| Silver ($) | 57.83 | -1.1 |
| Brent Crude ($) | 73.22 | -0.2 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices extended losses on Tuesday, largely dragged by IT stocks on concerns that U.S. interest rates could stay higher for longer.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,478 | -0.3 | -10.3 |
| Nifty | 23,865 | -0.3 | -8.7 |
| Nifty Bank | 57,542 | -0.3 | -3.4 |
| Nifty Midcap 100 | 61,797 | 0.4 | 2.2 |
| Nifty Smallcap 100 | 18,863 | 1.0 | 6.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,840 | 55,536 |
| 100 DMA | 24,132 | 56,354 |
| 200 DMA | 24,878 | 57,161 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2556 | -353,368 |
| DII | 6842 | 478,940 |
Stocks to watch
| Positive Read through | Negative Read through |
| Wabas – Secured order in range of Rs. 2.5-6 bn from Austria. | Apollo Tyres – To discontinue tyre production and related operations at its Enschede, Netherlands unit. |
| Reliance Ind/MRPL – Special additional excise duty on petrol hiked to Rs. 4/litre, while SAED on diesel and ATF was cut. | Jana SFB – India Ratings downgraded the company; promoters may need to sell stake. |
| Kotak Mahindra Bank – To acquire Deutsche Bank’s retail and wealth business for Rs. 2.82 bn. | KPIT Tech – Expects Q1FY27 financial performance to be lower than previously expected. |
| Bandhan Bank – Sold Rs. 2.91 bn of 180 DPD assets to ACRE for Rs. 1.2 bn. | Glenmark Pharma – US FDA issued Form 483 with 6 observations for the Goa unit. |
| Bank of Baroda – BBG and Mizuho partnered with the bank to finance India deals. | Religare Enterprises – MD & CEO of arm Religare Housing Development Finance Corp resigned. |
| Senco Gold – Marketing tie-up with AJPL extended till September 30. | |
| EPACK Durable – Andhra Pradesh government approved incentives and land allotment under the Electronics Manufacturing Policy 4.0. | |
| Prestige Estates – Launched two more towers in Mulund with a project GDV of Rs. 22 bn. | |
| BPCL – Secured allocation of 100 MW wind power in a tender issued by MP Power Company. | |
| Rites – Bagged a Rs. 1.75 crore order for project management consultancy services. | |
| NTPC Green – JV bagged a 193 MW wind project in the MPPMCL wind tender. | |
| Equitas SFB – N. Sridharan to retire as CFO; Mukund Shyamra to take over. | |
| Newgen Software – Bagged a Rs. 267 mn order from an overseas client in Kuwait. | |
| RailTel – Bagged an order worth Rs. 1.07 bn from Mahanadi Coalfields. | |
| NCC – Transport division bagged orders worth Rs. 5.35 mn. | |
| HUDCO – Started FY27 strongly, with Q1 loan disbursements up 28 pct YoY. | |
| Paras Defence – Signed an IP licence agreement with Tandem Defense for Guardian Interceptor technology. |
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