Market Commentary
Global markets
US market rebounded on Wednesday over easing bond yields. Dow jones closed up by 0.6 pct while Nasdaq closed higher by 0.5 pct.
Asian markets
Asian markets trading positive in the early morning trade. Hang Seng trading up by 0.3 pct. While Nikkei trading green by 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,067 | 0.6 | 10.4 |
| Nasdaq | 26,217 | 0.5 | 12.8 |
| Hang Seng | 25,375 | 0.3 | -1.0 |
| Nikkei | 64,455 | 0.2 | 27.9 |
Commodities
Gold prices rose and currently stood at USD 4,424 over weaker Dollar and bond yields. On the other hand, oil prices stood at USD 95.54/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,424 | 0.9 |
| Silver ($) | 65.81 | 0.8 |
| Brent Crude ($) | 95.54 | 0.2 |
Indian Indices
India’s equity benchmarks likely to open gap up as GIFT Nifty indicates. Benchmark indices continued selling streak on Wednesday over renewed Middle East tension.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,570 | -0.5 | -10.2 |
| Nifty | 23,914 | -0.6 | -8.5 |
| Nifty Bank | 57,172 | -0.4 | -4.0 |
| Nifty Midcap 100 | 63,001 | -0.5 | 4.2 |
| Nifty Smallcap 100 | 19,812 | -0.4 | 11.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,210 | 57,615 |
| 100 DMA | 24,029 | 56,497 |
| 200 DMA | 24,626 | 57,442 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 6688 | -364,855 |
| DII | 2812 | 582,490 |
Stocks to watch
| Positive Read through | Negative Read through |
| Persistent Systems – Board approves fund raise of up to USD 1.25 bn via debt & equity | Page Ind – UAE distributor files case in Dubai court claiming Rs. 2.94 bn, company to contest claims |
| Financials – FCNR(B) mop-up scales to USD 127 Bn, total mop-up at USD 136 Bn | FACT – Penal interest of Rs. 3.9 bn has been charged on outstanding Government loan |
| RPG Active Pharma – Acquires API business of Raghava Life for Rs. 1.35 bn | Swiggy – To be deleted from MSCI standard indices on foreign ownership breach |
| RBL Bank – Deposit mobilisation under FCNR(B) swap facility at USD 3.40 Bn | Meesho – SoftBank likely to sell up to 1.7 pct stake via block deals, floor price at 3 pct discount to CMP |
| Godrej Cons – FY27 guidance intact, sees standalone volume growth in high single-digit | |
| Ola Electric – To mull fund raise on September 5 via issue of equity shares, other means | |
| HUDCO – Signs MoU with Bihar Govt to provide Rs. 250 bn financial assistance over 5 years | |
| Kabra Extrusion – Gets letter of intent from a 2-wheeler company for battery programme | |
| Pine Labs – ICICI Pru, Societe Generale among buyers in block deal | |
| Nuvama Wealth – Supreme Court sets aside orders of NCL & SAT in Nuvama clearing services case | |
| NHPC – Arbitral award in its favour of Rs. 3.92 bn + €1.5 mn vs claim of Rs. 7.97 bn+ | |
| Kirloskar Oil – Collaborates with DEUTZ for marketing network in US & Europe, other synergies | |
| Hexaware – Srikrishna resigns as CEO to stay as advisor, Vivek Jetley new CEO for 4 years | |
| Inox Wind – Bags 100 MW order with a contract value of Rs. 7.55 bn from Indian Oil Corp | |
| Power Grid – Wins BOOT project at quoted annual transmission charges of Rs. 32.44 bn | |
| Aster DM – Promoter buys 4.6 mn shares via block deals, Centella seller | |
| Technocraft – EBITDA climbed 16.4 pct, profit increased 14.6 pct YoY |
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