Market Commentary
Global markets
US market fell on Tuesday due to the escalating tensions in West Asia and subsequent impact on crude oil prices. Dow Jones closed down by 1.2 pct while Nasdaq closed lower by 0.3 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.1 pct. While Nikkei trading green by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,791 | -1.2 | 9.8 |
| Nasdaq | 26,421 | -0.3 | 13.7 |
| Hang Seng | 25,288 | -0.1 | -1.3 |
| Nikkei | 65,495 | 0.3 | 30.0 |
Commodities
Gold remains steady and currently stood at USD 4,382 amid inflation worries and rate hike expectations. On the other hand, oil prices stood at USD 99.30/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,382 | 0.6 |
| Silver ($) | 66.45 | 1.1 |
| Brent Crude ($) | 99.30 | -0.1 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices continued losses on Tuesday pressured by higher oil prices over rising Middle East developments.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,577 | -0.7 | -11.3 |
| Nifty | 23,635 | -0.6 | -9.5 |
| Nifty Bank | 56,777 | -0.5 | -4.7 |
| Nifty Midcap 100 | 62,915 | 0.2 | 4.0 |
| Nifty Smallcap 100 | 20,133 | 0.2 | 13.7 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,904 | 57,286 |
| 100 DMA | 24,052 | 57,435 |
| 200 DMA | 24,241 | 57,485 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -123 | -370,156 |
| DII | 1,349 | 598,314 |
Stocks to watch
| Positive Read through | Negative Read through |
| Eureka Forbes – CRISIL upgrades rating to CRISIL AA/Stable from CRISIL AA-/Positive | OMCs/Paint – Crude remains elevated, near $100/bbl on escalating tensions in West Asia |
| Raymond Realty – To mull fund raise on September 11 via equity, other securities | Coforge – OP Bhatt resigns as chairperson with immediate effect on concerns in audit review |
| Viyash Scientific – Gets Italian FDI nod BioForLife Italia acquisition | Raymond – To raise up to Rs. 2.14 bn via preference issue of warrants, warrant price at 25 pct discount to CMP |
| Bank of Baroda – Proposes to divest up to 35 pct stake in NSE IPO | Sri Lotus – Promoter to sell up to 2 pct stake to meet MPS norms |
| ONGC/OIL – Crude remains elevated, near $100/bbl on escalating tensions in West Asia | Sanofi – SC dismisses plea seeking quashing of criminal proceedings |
| Biocon – Active Pine likely to sell up to 1 pct stake via block deals, FP at Rs. 385/share | |
| NMDC – Hikes lump ore price by Rs. 150/tonne to Rs. 5,400/tonne, fines prices unchanged | |
| Paytm – Bets on workplace AI agents in pivot beyond payments, BBG reports | |
| Berger Paints – Starts production at 36,000 KL paints unit in Andhra Pradesh | |
| Bajaj Fin – Acquires 5 pct stake in TrueFan AI, an AI video generation platform | |
| HEG/Graphite India – GrafTech International hikes prices by a minimum 30 pct for graphite electrodes | |
| NLC India – Bags 200 MW wind power project from SJVN | |
| GE Shipping – To acquire 2019-built Kamsarmax dry bulk carrier | |
| Enviro Infra – Bags Rs. 1,900 mn EPC order from Tata Power Renewable Energy |
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.
