Market Commentary
Global markets
US market closed Mixed on Thursday over tepid jobs data and falling Dollar. Dow Jones closed up by 1.1 pct. While Nasdaq closed lower by 0.8 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading higher by 0.7 pct. While Nikkei trading red by 1.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,905 | 1.1 | 10.1 |
| Nasdaq | 25,832 | -0.8 | 11.1 |
| Hang Seng | 23,503 | 0.7 | -8.3 |
| Nikkei | 68,918 | -1.2 | 36.7 |
Commodities
Gold prices rose and currently stood at USD 4,166 over easing rate hikes bets. On the other hand, oil prices stood at USD 71.73/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,166 | 1.1 |
| Silver ($) | 61.82 | 1.4 |
| Brent Crude ($) | 71.73 | -0.3 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices extended gains on Friday, driven by declining oil prices and uptick in IT stocks on easing US rate-hike worries.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,763 | 0.3 | -8.8 |
| Nifty | 24,270 | 0.4 | -7.1 |
| Nifty Bank | 57,938 | -0.2 | -2.8 |
| Nifty Midcap 100 | 62,190 | -0.2 | 2.8 |
| Nifty Smallcap 100 | 19,175 | 0.0 | 8.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,822 | 55,603 |
| 100 DMA | 24,099 | 56,322 |
| 200 DMA | 24,868 | 57,218 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1355 | -353,465 |
| DII | -1984 | 481,930 |
Stocks to watch
| Positive Read through | Negative Read through |
| Tractor Cos – Government initiates anti-dumping duty probe on imports of electric tractors from China. | QComm – High Court declines to stay Gig Workers Act, aggregators asked to deposit welfare fee. |
| Coal India – Forms a 51:49 JV with UPRVUNL to set up renewable energy projects in Uttar Pradesh. | Kotak Mah Bank – Net advances at period-end up 15 pct, total deposits rose 11.7 pct YoY. |
| CG Power – Commences commercial production at its G1 OSAT facility in Sanand, Gujarat. | Mannapuram Fin – Deepak Reddy resigns as Chief Executive Officer. |
| Godrej Cons – Expects high-teen Q1 sales growth and EBITDA ahead of guidance. | Syngene Intl – Peter Bains resigns as Managing Director and Chief Executive Officer. |
| NYKAA – Expects early-30 pct GMV growth and net revenue growth to accelerate to nearly 30 pct | Vedanta Oil & Gas – All unit’s report declines in production, gross production declined 17 pct YoY. |
| Enviro Infra – Bags order worth Rs. 1.30 bn from Uttar Pradesh Jal Nigam. | Indusind Bank – Net advances fell 2.3 pct, deposits up 4.5 pct YoY. |
| Oberoi Realty – Achieves gross bookings of about Rs. 81.09 bn at Three Sixty North, Gurugram. | |
| HUDCO – Signs MoU with Bihar Government to provide loans up to Rs. 1 trillion. | |
| Prestige Estates – To acquire a 50 pct stake in Advent Convention to develop a project with GDV of Rs. 45 bn. | |
| Astral – Board to review SoA following feedback and appoint a Big Four firm as external adviser. | |
| HDFC Bank – Q1 gross advances grew 15.4 pct YoY, deposits rose 14.7 pct YoY. | |
| Borosil – Government withdraws emergency gas supply curbs as Hormuz LNG shipments resume. | |
| Dabur – Expects double-digit consolidated revenue growth with stable margins. | |
| RBL Bank – Deposits up 10.7 pct, gross advances rose 21.4 pct YoY. | |
| L&T Fin – Retail loan book increased 27.7 pct, retail finance business up 35.8 pct YoY. | |
| Vedanta Power – Meenakshi Energy boosts power sales, total sales up 38 pct YoY. | |
| Satin Credit – Q1 disbursements up 54 pct, credit cost expected in the range of 2.5–3.0 pct. |
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