Market Commentary
Global markets
US market fell on Tuesday as treasury yields hit all time high. Dow jones closed down by 0.6 pct while Nasdaq closed lower by 0.8 pct.
Asian markets
Asian markets trading lower in the early morning trade. Hang Seng trading down by 0.1 pct. While Nikkei trading red by 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,098 | -0.6 | 8.4 |
| Nasdaq | 25,981 | -0.8 | 11.8 |
| Hang Seng | 24,643 | -0.1 | -3.9 |
| Nikkei | 63,395 | -0.1 | 25.8 |
Commodities
Gold prices rose and currently stood at USD 4,328 ahead of Fed rate decision. On the other hand, oil prices stood at USD 107.84/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,328 | 0.8 |
| Silver ($) | 64.63 | 1.5 |
| Brent Crude ($) | 107.84 | -0.6 |
Indian Indices
India’s equity benchmarks likely to open flat as GIFT Nifty indicates. Benchmark indices tumbled on Tuesday, pressured by elevated oil prices and global bond yields ahead of Fed rate decision.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,003 | -1.0 | -13.2 |
| Nifty | 23,118 | -1.0 | -11.5 |
| Nifty Bank | 55,794 | -1.4 | -6.4 |
| Nifty Midcap 100 | 60,878 | -2.1 | 0.7 |
| Nifty Smallcap 100 | 19,422 | -2.4 | 9.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,127 | 57,413 |
| 100 DMA | 23,975 | 56,519 |
| 200 DMA | 24,529 | 57,356 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2977 | -375,084 |
| DII | 2686 | 605,502 |
Stocks to watch
| Positive Read through | Negative Read through |
| Bharat Forge – To explore with P&W Canada turboprop engines for hale UAV programme | Aurobindo pharma – USFDA issued form 483 with 1 observation for Telangana API unit |
| Saatvik Green – Bags Rs. 10.42 bn PV modules order from seci | Groww – Peak XV, Sequoia likely to sell ~1.6 pct equity via block, floor price at 3 pct discount to CMP |
| Banks, Payments Cos – NPCI introduces 0.40 pct MDR on UPI > Rs. 2,000 | |
| GMR Airports – August traffic up 0.9 pct, domestic traffic rose 1.1 pct YoY | |
| BHEL, Titagarh Rail – 50 -50 JV for maintenance of Vande Bharat sleeper trainsets | |
| RR Kabel – Commences operations of 12,000 MTPA wires & cables capacity | |
| VIP Industries – Board meet to consider fund raise on September 18 via issue of shares, other means | |
| Vikram Solar – In pact with Avaada to supply 1 GW of solar cells for module manufacturing operations | |
| Allied blenders – Gets licence from Telangana government to produce malt spirit | |
| Granules – Promoters pay Rs. 10.93 bn to convert warrants | |
| Exide – long-term pact with Excom, Germany for India battery business across European Eco area | |
| NBCC – Bags work order worth of Rs. 1.45 bn | |
| Sonata Software – Signed 5-year pact with Amazon Web Services |
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