Market Commentary
Global markets
US market extended loses on Tuesday over tech selloff and rising bond yields. Dow jones closed down by 0.2 pct and Nasdaq closed negative by 1.3 pct.
Asian markets
Asian markets mixed lower in the early morning trade. Hang Seng trading positive by 0.1 pct. While Nikkei trading down by 2.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,348 | -0.2 | 11.0 |
| Nasdaq | 26,289 | -1.3 | 13.1 |
| Hang Seng | 25,503 | 0.1 | -0.5 |
| Nikkei | 65,724 | -2.6 | 30.4 |
Commodities
Gold prices rose and currently stood at USD 4,354 ahead of Fed minutes. On the other hand, oil prices stood at USD 91.66/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,354 | 0.5 |
| Silver ($) | 63.04 | -0.5 |
| Brent Crude ($) | 91.66 | 0.4 |
Indian Indices
India’s equity benchmarks likely to open flat as GIFT Nifty indicates. Benchmark indices continued loses on Tuesday over fading hopes on Middle East peace deal and rising oil prices.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,235 | -0.6 | -9.4 |
| Nifty | 24,154 | -0.5 | -7.6 |
| Nifty Bank | 57,262 | -0.4 | -3.9 |
| Nifty Midcap 100 | 63,539 | -0.4 | 5.1 |
| Nifty Smallcap 100 | 19,808 | 0.0 | 11.8 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,123 | 57,459 |
| 100 DMA | 23,904 | 55,959 |
| 200 DMA | 24,713 | 57,468 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1651 | -361,922 |
| DII | 2579 | 544,260 |
Stocks to watch
| Positive Read through | Negative Read through |
| Interarch – Bags Rs. 1.28 bn order from an FMCG major for a pre-engineered manufacturing facility. | OMCs/Paint Cos – Brent holding above USD 91/bbl, creating potential input-cost pressure. |
| Atlanta Electricals – Gets Rs. 1.94 bn LoI from APTRANSCO for transformers. | CG Power – Reports a suspected cyber event, although there is no impact on core systems. |
| HEG – NCLT sanctions scheme of arrangement involving HEG Graphite and Bhilwara Energy. | GR Infraprojects – High Court rules against the company in a Rs. 700 mn GST matter. |
| ONGC – Links Khoraghat gas unit to the North East gas grid for supply of 1 lakh SCM of gas per day. | Aster DM Health – TPG likely to sell ~7.2 pct equity through block deals at a 6 pct discount to CMP. |
| Cupid – Promoter acquires 8 lakh shares through open-market purchases on August 18. | |
| Omaxe – Gets RERA nod for PDA Omaxe City commercial project in Punjab. | |
| LTTS – Signs a 5-year international agreement worth ~USD 75 mn for digital engineering services. | |
| Shilpa Medicare – Chemotherapy drug recall relates to only four batches and is voluntary. | |
| CGD Companies – Government plans to allocate an additional 20 SCM of gas for domestic PNG use. | |
| Jubilant Ingrevia – To acquire 40 pct stake in EDMS player Zettaone Tech for Rs. 1.89 bn. | |
| HG Infra Engineering – Gets LoIs from REC Power to set up substations in Mau and Mirzapur | |
| RailTel – Bags Rs. 1.67 bn order from EPFO. | |
| EMS Ltd – Declared highest bidder for two NHAI orders worth Rs. 420 mn. |
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