Market Commentary
Global markets
US market closed positive on Tuesday led by chip stocks while banks offset IBM pressure on Dow Jones. Dow Jones closed flat and Nasdaq closed higher by 0.9 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng trading positive by 1.4 pct. While Nikkei trading green by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,513 | 0.0 | 9.3 |
| Nasdaq | 26,107 | 0.9 | 12.3 |
| Hang Seng | 24,671 | 1.4 | -3.7 |
| Nikkei | 68,353 | 0.9 | 35.6 |
Commodities
Gold prices fell and currently stood at USD 4,036 amid rising oil prices. On the other hand, oil prices stood at USD 85.83/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,036 | 0.3 |
| Silver ($) | 58.46 | -0.4 |
| Brent Crude ($) | 85.83 | 0.8 |
Indian Indices
India’s equity benchmarks likely to open flat as GIFT Nifty indicates. Benchmark indices extended losses on Tuesday triggered by escalating West Asia conflict and rising oil prices.
Results Today – HDFC AMC, HDFC Life, ICICI Lombard, ICICI Pru Life
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,054 | -0.7 | -9.6 |
| Nifty | 24,052 | -0.7 | -7.9 |
| Nifty Bank | 57,462 | -1.2 | -3.6 |
| Nifty Midcap 100 | 62,766 | -0.4 | 3.8 |
| Nifty Smallcap 100 | 19,227 | -1.0 | 8.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,830 | 55,804 |
| 100 DMA | 24,002 | 56,164 |
| 200 DMA | 24,840 | 57,303 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -739 | -352,561 |
| DII | 2927 | 495,305 |
Stocks to watch
| Positive Read through | Negative Read through |
| KEC Int – Won orders worth Rs. 11.8 bn, including its 1st transmission line order for a data centre. | IT Stocks – IBM fell 25 pct after reporting below-estimate Q2 results. |
| Capacite Infra – Secured a Rs. 4.82 bn order from Twenty-Five Downtown for civil construction work. | Belrise – Likely to raise up to Rs. 12 bn through a QIP at an issue price of a 5 pct discount to CMP. |
| Ather Energy – Raised an additional Rs. 10 bn from Hero Moto through warrants and share issuance | Texmaco Rail – Kishor Kumar Rajgaria resigned as CFO and requested to be relieved at the earliest. |
| RBL Bank – Rating upgraded to CARE AAA with a Stable outlook and removed it from Rating Watch | Tata Elxsi – Missed margin expectations, with EBIT margin declining 340 bps QoQ. |
| Kirloskar Brothers – Arm secured a Rs. 1.50 bn overseas order for pumps and spares. | Signature Global – Q1 pre-sales declined 25 pct YoY, while collections fell 28 pct. |
| Anand Rathi Wealth – Q1 EBITDA increased 30.2 pct YoY, while EBITDA margin expanded by 237 bps. | |
| Dalmia Bharat – Formed a JV to establish an integrated sugar complex in Tanzania with an investment of USD 132 mn | |
| PDS – Entered into a strategic partnership with Busana Apparel Group, Indonesia. | |
| IEX – Indian Gas Exchange filed DRHP with SEBI for its IPO. | |
| IOL Chemicals/Pharma – Received NMPA approval from China for Clopidogrel Bisulfate API. | |
| J&K Bank – To sell a 0.5 pct stake in PNB MetLife for Rs. 1.20 bn. | |
| Alcobev/Textile Cos – UK-India Free Trade Agreement came into effect from July 15. | |
| LTTS – Q1 CC sales grew 1.5 pct, ahead of the estimated 1.1 pct; management expects better growth going forward. | |
| Delhivery – Received RBI approval to set up a Type II NBFC-ND. |
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