Market Commentary
Global markets
US market closed mixed on Wednesday after personal consumption spending jumped amid a mild inflation print. Dow jones closed down by 0.9 pct while Nasdaq closed green by 0.2 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng closed up by 0.4 pct. While Nikkei trading positive by 2.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 50,911 | -0.9 | 5.9 |
| Nasdaq | 26,861 | 0.2 | 15.6 |
| Hang Seng | 24,613 | 0.4 | -4.0 |
| Nikkei | 68,355 | 2.4 | 35.6 |
Commodities
Gold prices remain steady and currently stood at USD 4,162 ahead of US jobs data. On the other hand, oil prices stood at USD 97.43/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,162 | 0.1 |
| Silver ($) | 61.059 | 1.2 |
| Brent Crude ($) | 97.43 | -0.5 |
Indian Indices
India’s equity benchmarks likely to open lower as GIFT Nifty indicates. Benchmark indices closed lower on Wednesday dragged by pharma, healthcare, metals and continuous FII outflows.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 72,480 | -0.1 | -15.0 |
| Nifty | 22,620 | -0.1 | -13.4 |
| Nifty Bank | 54,633 | 0.7 | -8.3 |
| Nifty Midcap 100 | 59,332 | 0.0 | -1.9 |
| Nifty Smallcap 100 | 19,245 | 0.3 | 8.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,901 | 56,950 |
| 100 DMA | 23,865 | 56,532 |
| 200 DMA | 24,367 | 57,149 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -10,148 | -416,695 |
| DII | 11,271 | 653,857 |
Stocks to watch
| Positive Read through | Negative Read through |
| Force Motors – Total sales jumped over 50 pct YoY for the second straight month | Varroc Engineering – To discontinue manufacturing, laboratories and testing activities in Italy |
| Aurobindo – Acrotech launches Difamilast ointment in US and establishes dermatology business | Varun Beverages – Agreement for Crickley stake acquisition referred to AFSA for non-fulfilment of conditions |
| Symbiotec – Definitive agreement for exclusive rights to commercialise and distribute 2 DCVs in the US | Reliance Infra – IIFC files IBC against JV of Mumbai Metro One before NCLT and seeks USD 182 mn recovery. |
| IOC – 19-kg cylinder price hiked by Rs. 62.50 in Delhi to Rs. 2,810 | |
| Interarch – Bags order worth Rs. 890 mn. | |
| NSE – Receives SEBI NOC for introduction of corporate bond index futures | |
| India Cements – Gets RBI nod for change in management control or ownership of over 50 pct | |
| NLC India – Gets LoA for 265 MW BESS project from SJVN at Rs. 2.35 lakh/MW/month capacity charge | |
| Reliance/ONGC – Government cuts special additional excise duty on diesel and ATF exports | |
| Prime Focus – Board approves fund raise of up to Rs. 30 bn via QIP and other means | |
| Waaree Energies – Commences commercial production at 1.10 GW solar inverter manufacturing unit | |
| DMC Shriram – Commissioned two plants near caustic soda facilities in Jhagadia | |
| ACME Solar – Commissions Phase-I, 53.73 MW of BESS project out of 250 MW in Rajasthan | |
| Kotak Bank – Anup Saha appointed new MD & CEO for 3 years | |
| Blue Dart – Announces 9-12 pct price increase from January 1 | |
| Yes Bank – Rs. 2.58 bn funds received in a trust in security receipts portfolio on sale of NPA | |
| Transrail Lighting – Tower capacity increases by 12,000 MTPA to 1.84 lakh MTPA |
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