Market Commentary
Global markets
US market fell on Wednesday led by rising treasury yields and higher oil prices. Dow Jones closed down by 0.8 pct while Nasdaq closed lower by 0.6 pct.
Asian markets
Asian markets trading negative in the early morning trade. Hang Seng trading down by 1.4 pct. While Nikkei trading red by 0.8 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,386 | -0.8 | 9.0 |
| Nasdaq | 26,253 | -0.6 | 13.0 |
| Hang Seng | 24,926 | -1.4 | -2.7 |
| Nikkei | 64,597 | -0.8 | 28.2 |
Commodities
Gold climbs and stood at USD 4,419as inflation data awaited amid oil rally. On the other hand, oil prices stood at USD 101.1/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,419 | 0.41 |
| Silver ($) | 67.57 | 0.45 |
| Brent Crude ($) | 101.1 | -0.63 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices continued losses on Wednesday, pressured by IT stocks and a crude oil spike amid rising Middle East developments.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,764 | -1.1 | -12.3 |
| Nifty | 23,431 | -0.9 | -10.3 |
| Nifty Bank | 56,295 | -0.8 | -5.5 |
| Nifty Midcap 100 | 62,592 | -0.5 | 3.5 |
| Nifty Smallcap 100 | 20,036 | -0.5 | 13.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,185 | 57,521 |
| 100 DMA | 24,009 | 56,542 |
| 200 DMA | 24,571 | 57,397 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -582 | -370,738 |
| DII | 1509 | 599,823 |
Stocks to watch
| Positive Read through | Negative Read through |
| ONGC/OIL – Crude extends gains, Brent >$101/bbl, Trump says no end to war till elections. | OMCs/Paint – Crude extends gains, Brent >$101/bbl, Trump says no end to war till elections. |
| IRB Infra – August gross toll revenue up 25.0 pct YoY. | Aditya Infotech – Fire incident at the manufacturing plant of arm AIL Dixon, estimated loss Rs. 280 mn review. |
| Dilip Buildcon – Gets PNGRB letter of intent for an LPG pipeline, estimated EPC opportunity of Rs. 1,800 mn. | |
| Kolte Patil – Books sales of over Rs. 600 mn from Pune project ‘Vyana At The Reserve’ launch. | |
| Redington – Apple launches new iPhones with a price premium, iPhone Duo starts at Rs. 300,000. | |
| Enviro Infra – Arm bags Rs. 2,240 mn, letter of intent from Tata Power Renewable Energy for wind EPC project. | |
| Shakti Pumps – Bags Rs. 2,360 mn MSEDCL order for solar pumps. | |
| Parag Milk – Expands nutrition portfolio into snacking with launch of Avvatar popped chips. | |
| Guj Ambuja – Plans to invest Rs. 3,330 mn in an 850 TPD plant in Hubli, Karnataka. | |
| Juniper Green – Commissions an additional 10 MW wind capacity. |
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