Market Commentary
Global markets
US market closed negative on Wednesday over fed comments. Dow Jones closed flat. While Nasdaq closed lower by 1.3 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading higher by 0.9 pct. While Nikkei trading red by 1.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,310 | -0.0 | 8.8 |
| Nasdaq | 26,040 | -0.7 | 12.0 |
| Hang Seng | 23,080 | 0.9 | -9.9 |
| Nikkei | 69,591 | -1.3 | 38.1 |
Commodities
Gold prices rose and currently stood at USD 4,057 over weak job data and falling oil prices. On the other hand, oil prices stood at USD 70.77/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,057 | 0.7 |
| Silver ($) | 60.02 | 1.5 |
| Brent Crude ($) | 70.77 | -0.6 |
Indian Indices
India’s equity benchmarks likely to open positive as GIFT Nifty indicates. Benchmark indices rebounded on Wednesday, largely led by Auto and FMCG stocks after reporting healthy business updates.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,922 | 0.6 | -9.7 |
| Nifty | 24,005 | 0.6 | -8.1 |
| Nifty Bank | 58,033 | 0.9 | -2.6 |
| Nifty Midcap 100 | 62,008 | 0.3 | 2.5 |
| Nifty Smallcap 100 | 18,931 | 0.4 | 6.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,832 | 55,559 |
| 100 DMA | 24,123 | 56,348 |
| 200 DMA | 24,874 | 57,179 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1140 | -354,509 |
| DII | 3159 | 482,099 |
Stocks to watch
| Positive Read through | Negative Read through |
| Coal India – Won order to set up 600 MW plant at Jalaun Solar Park with a project cost of Rs. 28.31 bn. | Sai Silks – Q1 turnover fell 1 pct YoY at Rs. 3.75 bn despite opening two new stores. |
| Punjab & Sind Bank – Total deposits grew 12.2 pct, total business rose 15.3 pct YoY. | |
| Indian Bank – Gross advances up 14 pct YoY, CASA ratio extended 56 bps QoQ. | |
| J&K Bank – Total business increased 20.4 pct, total deposits up 16.75 pct YoY. | |
| Hero Moto – To invest Rs. 7.50 bn to set up a second parts centre in Andhra, increasing capacity to 1.2–1.5 mn units. | |
| South Indian Bank – Gross advances up 17 pct, CASA up 14.61 pct YoY. | |
| Sai Parent – Renews exclusive OTC supply agreement of Rs. 13 bn with Australian Pharmacy Networks. | |
| Tamilnad Mercantile Bank – Total business up 23 pct, total advances rose 27 pct YoY. | |
| Lupin – Receives EIR from the US FDA for its Somerset facility with VAI classification. | |
| Adani Energy – Board gives enabling approval to raise up to Rs. 100 bn via QIP. | |
| Canara Bank – Q1 gross advances up 4.5 pct, deposits up 2.8 pct QoQ. | |
| NLC India – Gets LoA to set up 2×300 MW solar power projects at Jalaun, Uttar Pradesh. | |
| Tata Tech – Inks USD 100 mn strategic engagement with Tenneco. | |
| Zaggle Prepaid – Empanelled by Canara Bank via EoI for empanelment of fintech companies. | |
| V-Mart – Strong Q1 update with revenue jumped 23 pct and SSSG at 9 pct | |
| Brainbees – To sell up to Rs. 3 bn worth of stake in subsidiary Swara Baby’s via OFS. | |
| Netweb – Board approves fund raise of up to Rs. 12 bn via issue of equity shares and other securities. |
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