Market Commentary
Global markets
US market continued loses on Monday over rising yield and oil prices. Dow jones closed down by 0.5 pct and Nasdaq closed negative by 0.3 pct.
Asian markets
Asian markets trading lower in the early morning trade. Hang Seng trading negative by 0.6 pct. While Nikkei trading down by 1.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,465 | -0.5 | 11.2 |
| Nasdaq | 26,644 | -0.3 | 14.6 |
| Hang Seng | 25,292 | -0.6 | -1.3 |
| Nikkei | 68,098 | -1.6 | 35.1 |
Commodities
Gold prices fell and currently stood at USD 4,401 on rising yield. On the other hand, oil prices stood at USD 91.33/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,401 | -0.3 |
| Silver ($) | 65.47 | -0.5 |
| Brent Crude ($) | 91.33 | 0.3 |
Indian Indices
India’s equity benchmarks likely to open red as GIFT Nifty indicates. Benchmark indices extended loses on Monday dragged by PSU Banks, IT, Pharma and FMCG stocks.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,728 | -0.4 | -8.8 |
| Nifty | 24,287 | -0.3 | -7.0 |
| Nifty Bank | 57,497 | -0.0 | -3.5 |
| Nifty Midcap 100 | 63,817 | 0.1 | 5.5 |
| Nifty Smallcap 100 | 19,809 | 0.4 | 11.8 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,102 | 57,395 |
| 100 DMA | 23,893 | 55,921 |
| 200 DMA | 24,722 | 57,472 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 508 | -361,038 |
| DII | 356 | 536,580 |
Stocks to watch
| Positive Read through | Negative Read through |
| Jyoti CNC/Syrma SGS/Uno Minda – Shortlisted for Rs. 78.77 bn electronics components scheme. | Ceigall India – Rs. 3.31 bn PWD, Delhi tender won by the company has been cancelled. |
| Colgate – Investor Day highlights focus on premiumisation and growth over margins. | Paint Cos/OMCs – Brent crude rises above USD 91/bbl, creating a potential cost pressure |
| NELCO – Ties up with Elveo Mobile for IoT connectivity to South Asia and invests USD 20 mn. | Paytm – Promoter plans to sell up to 4.98 pct stake through block deals |
| Reliance – Jio Prime returns with a 1-year price guarantee while retaining the Rs. 299 plan. | Netweb Tech – Likely to raise ~Rs. 12 bn through QIP; indicative issue price is at a 9 pct discount to CMP. |
| Indo-MIM – EBITDA rises 25 pct, with margin at 33.4 pct versus 29.4 pct YoY. | SPR Auto – Likely to raise ~Rs. 10 bn through QIP; indicative issue price is at a 5 pct discount to CMP. |
| Sigma Advanced Systems – Consortium with Indrajaal wins Rs. 1.45 bn. | |
| Manipal Health – To acquire Kinder Women’s Hospital for Rs. 1.3 bn. | |
| Oberoi Realty – Haryana town planning authority lifts curbs on Three Sixty West and Maiden Gurugram projects. | |
| KPI Green – Commissions 130 MW AC/195 MW DC solar capacity at Bharuch. | |
| Finotex Chem – Board approves fund raise through issue of equity shares and securities. | |
| ONGC/Oil – Brent crude rises above USD 91/bbl amid the stalemate in the US-Iran conflict. | |
| Leap India – Government of Singapore buys 22.15 lakh shares through a block deal. |
Disclaimer: The views shared in blogs are based on personal opinions and do not reflect the company’s views. Investment involves risk, and it is advisable to consult a financial advisor before making any investment through the app. The decision to invest is solely that of the investor, and the company or its communication cannot be held responsible for it.
