Market Commentary
Global markets
US market closed mixed on Monday pressured by technology stocks and bond Yields. Dow jones closed up by 0.3 pct and Nasdaq fell by 0.8 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading negative by 0.3 pct. While Nikkei trading up by 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,422 | 0.3 | 11.1 |
| Nasdaq | 25,980 | -0.8 | 11.8 |
| Hang Seng | 25,431 | -0.3 | -0.8 |
| Nikkei | 65,598 | 0.1 | 30.2 |
Commodities
Gold prices fell and currently stood at USD 4,628 over stronger dollar. On the other hand, oil prices stood at USD 90.91/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,628 | -0.5 |
| Silver ($) | 67.82 | -1.6 |
| Brent Crude ($) | 90.91 | 0.6 |
Indian Indices
India’s equity benchmarks likely to open flat as GIFT Nifty indicates. Benchmark indices closed negative on Monday over US-Iran outcome ambiguity.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,369 | -0.2 | -9.2 |
| Nifty | 24,219 | -0.1 | -7.3 |
| Nifty Bank | 57,525 | -0.4 | -3.5 |
| Nifty Midcap 100 | 63,817 | 0.1 | 5.5 |
| Nifty Smallcap 100 | 19,926 | -0.3 | 12.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,193 | 57,614 |
| 100 DMA | 23,956 | 56,159 |
| 200 DMA | 24,679 | 57,456 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1181 | -361,458 |
| DII | 2493 | 556,425 |
Stocks to watch
| Positive Read through | Negative Read through |
| Wabag – Signed project of Rs. 10 bn for Doha SWRO desalination plant. | Lenskart – Alpha Wave & affiliates likely to sell 2.6 pct equity via block deals. |
| TCS – Porsche & Company signed 5-year agreement valued at €1.25 Bn and to acquire MHP for €320 mn EV. | IT Companies – US Department of Homeland Security proposes a new USD 103,265 fee on all H-1B petitions. |
| Sigma Advanced – Bags order worth Rs. 16 bn from Rolls-Royce Aerospace UK | Hindustan Copper – Government launches OFS for ~6 pct equity at a floor price 9.5 pct discount to CMP |
| Sudarshan Chem – To acquire aluminium dyes & chemical manufacturing plant in Switzerland from Clariant. | IIFL Finance – Home finance arm gets Rs. 9.63 bn tax demand, while the company’s tax demand is now Rs. 240 mn. |
| GE Shipping – Company to consider share buyback proposal on August 27. | |
| Ceigall – Bags order worth Rs. 7.05 bn from the Road Ministry. | |
| Aegis Vopak/Aegis Logistics – Aegis Terminal acquires an ammonia storage terminal for Rs. 5.25 bn | |
| Brigade Hotels – Appointed Vinay Gupta as chief executive officer. | |
| Afcons Infra – Wins arbitration award of Rs. 3.36 bn from UP Expressways Authority. | |
| Piramal Finance – Rs. 12 bn QIP launched, indicative price at Rs. 2,000-2,100/share. | |
| PVR Inox – Company to consider share buyback on August 31. |
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