Market Commentary
Global markets
US market closed higher on Monday led by chipmakers stocks. Dow jones closed up by 0.7 pct while Nasdaq closed green by 2.3 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng trading up by 0.7 pct. While Nikkei closed green by 1.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,054 | 0.7 | 8.3 |
| Nasdaq | 27,122 | 2.3 | 16.7 |
| Hang Seng | 25,207 | 0.7 | -1.7 |
| Nikkei | 65,018 | 1.4 | 29.0 |
Commodities
Gold prices remain steady and currently stood at USD 4,342 over Fed’s higher for longer outlook. On the other hand, oil prices stood at USD 101.40/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,342 | -0.0 |
| Silver ($) | 66.00 | 0.0 |
| Brent Crude ($) | 101.40 | 1.4 |
Indian Indices
India’s equity benchmarks likely to open higher as GIFT Nifty indicates. Benchmark indices closed positive on Monday supported by lower oil prices and bargain buying.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,858 | 0.8 | -12.2 |
| Nifty | 23,414 | 0.3 | -10.4 |
| Nifty Bank | 56,470 | 0.2 | -5.2 |
| Nifty Midcap 100 | 62,013 | -0.3 | 2.5 |
| Nifty Smallcap 100 | 19,861 | -0.1 | 12.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,063 | 57,312 |
| 100 DMA | 23,946 | 56,531 |
| 200 DMA | 24,473 | 57,292 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -576 | -380,302 |
| DII | 2797 | 616,845 |
Stocks to watch
| Positive Read through | Negative Read through |
| Garden Reach – Board approves Rs. 28.96 bn capex at Raichuk vs Rs. 26.70 bn indicated earlier | Patanjali – Gets order to prohibit sale of Sunrich Oil from a batch in Thiruvananthapuram district |
| Reliance – T-Mobile and Jio partner to offer the world’s first 5G standalone roaming service to customers | Allcargo Global – August LCL volumes down 7 pct and FCL volumes down 5 pct YoY |
| Waaree Energies – Bags order for supply of 2 GW solar modules | Symbiotec Pharmalab – Q1 profit tumbled 53 pct YoY, margin at 21 pct vs 29 pct YoY |
| Lloyds Metals – Board approves increase in sponge iron capacity to 9 lakh MTPA for Rs. 1.9 bn | EaseMyTrip – ED chargesheets company’s promoter Nishant Pitti in Mahadev betting case |
| PI Ind – Gets registration for India’s first discovered insecticide Pioxaniliprole | Pine Labs – Mastercard likely to sell 4.3 pct stake for Rs. 892.5 Cr via block deals |
| Parag Milk – To expand paneer capacity to 80 MT/day from 20 MT/day at Rs. 1 bn outlay | Augmont – Q1 profit fell 15 pct, EBITDA margin at 0.44 pct vs 0.71 pct YoY |
| Transrail Lighting – Expands conductor capacity to 40,800 km/year from 24,000 km/year | |
| Pace Digitek – Bags Rs. 4.88 bn BESS-related contract to be executed by 31st December | |
| Embassy Development – Signs MoU to sell residential tower at Embassy Terrazza to Angel One CMD for Rs. 7.11 bn | |
| ONGC – Strikes gas in Mahanadi deepwater well near Odisha | |
| Lumino – Q1 sales rose 19 pct, margin expanded 160 bps YoY | |
| GK Energy – Bags MSEDC 15-year contract for 150 MW BESS at yearly payment of Rs. 430 mn | |
| Neogen Chem – Rs. 6.5 bn QIP oversubscribed 6.5x with issue price above floor price. | |
| J&K Bank – Signs Escrow agreement for sales of 0.5 pct, PNB Metlife stake for Rs. 1.2 bn | |
| Aequs – Board meet on 25th September to mull preferential issue of convertible warrants to promoter |
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