Market Commentary
Global markets
US market fell on Friday as robust jobs data fuels hawkish bets. Dow jones closed down by 0.5 pct while Nasdaq closed lower by 2 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading down by 1.1 pct. While Nikkei trading green by 2.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,419 | -0.5 | 11.1 |
| Nasdaq | 26,056 | -2.0 | 12.1 |
| Hang Seng | 25,368 | -1.1 | -1.0 |
| Nikkei | 66,649 | 2.2 | 31.9 |
Commodities
Gold prices fell and currently stood at USD 4,408 after strong US Payroll data. On the other hand, oil prices stood at USD 96.91/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,408 | -0.5 |
| Silver ($) | 65.95 | -0.3 |
| Brent Crude ($) | 96.91 | 1.1 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices rebounded on Friday led by Metals and financial stocks while decline in other sectors capped gains.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,515 | 0.5 | -10.2 |
| Nifty | 23,897 | 0.1 | -8.5 |
| Nifty Bank | 57,369 | 0.0 | -3.7 |
| Nifty Midcap 100 | 63,079 | -0.2 | 4.3 |
| Nifty Smallcap 100 | 20,095 | 0.2 | 13.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,204 | 57,584 |
| 100 DMA | 24,028 | 56,529 |
| 200 DMA | 24,606 | 57,431 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3111 | -370,313 |
| DII | 8930 | 596,398 |
Stocks to watch
| Positive Read through | Negative Read through |
| NTPC – Applies for Rs. 375 bn coal gasification scheme. | Tata Motors PV – UK minister to meet JLR & union on job cuts, rules out bailout. |
| Mazagon – Bags order worth Rs. 1.18 bn for a supply & commissioning project. | ONGC/Oil – Crude extends gains, Brent near USD 97/bbl. |
| Maruti – Launches Baleno facelift starting at an ex-showroom price of Rs. 6.09 lakh. | Indoco Remedies – US FDA issues Form 483 with 7 observations for sterile unit in Goa. |
| Eicher Motors – Launches new Himalayan 440 at Rs. 2.29 lakh ex-showroom. | Cohance – US FDA issues Form 483 with 4 observations for FDF plant in Telangana. |
| Brigade Ent – Launches project in Hyderabad with sales potential of over Rs. 27 bn. | |
| JSW Steel – August consolidated crude steel production rose 3 pct YoY. | |
| Lupin – Gets US FDA nod for USD 70 mn sleep drug Modafinil tablets. | |
| Molbio – Posted profit vs loss YoY, turns EBITDA positive. | |
| Prime Focus – To raise up to Rs. 30 bn via equity or/and debt routes. | |
| Texmaco – Bags orders worth of Rs. 1320 mn. | |
| Zydus Life – To pay USD 5.9 mn in US dispute settlement. |
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