Market Commentary
Global markets
US market climbed higher on Thursday led by chipmakers stocks. Dow Jones closed up by 0.3 pct. While Nasdaq closed higher by 1.3 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng trading positive by 1.6 pct. While Nikkei trading green by 1.8 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,492 | 0.3 | 9.2 |
| Nasdaq | 26,206 | 1.3 | 12.8 |
| Hang Seng | 24,426 | 1.6 | -4.7 |
| Nikkei | 68,943 | 1.8 | 36.8 |
Commodities
Gold prices rose and currently stood at USD 4,133 amid Middle East tension. On the other hand, oil prices stood at USD 76.39/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,133 | -0.2 |
| Silver ($) | 60.60 | -1.1 |
| Brent Crude ($) | 76.39 | 0.6 |
Indian Indices
India’s equity benchmarks likely to open gap up as GIFT Nifty indicates. Benchmark indices rebounded on Thursday, on upcoming earnings season and Middle East developments.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,741 | 0.3 | -10.0 |
| Nifty | 23,962 | 0.3 | -8.3 |
| Nifty Bank | 57,252 | 0.9 | -3.9 |
| Nifty Midcap 100 | 61,166 | 1.4 | 2.8 |
| Nifty Smallcap 100 | 19,120 | 1.8 | 7.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,828 | 55,678 |
| 100 DMA | 24,055 | 56,251 |
| 200 DMA | 24,856 | 57,264 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -532 | -351,399 |
| DII | 2057 | 488,186 |
Stocks to watch
| Positive Read through | Negative Read through |
| TCS – Q1 results in line with expectations; deal wins remain steady at USD 9.5 bn despite margin decline due to wage hikes. | TTK Prestige – Disruptio of operations at Roorkee plant due to natural calamity |
| Apollo Micro/Premier Explosives – Apollo Micro to acquire 41.33 pct stake in Premier Explosives for Rs. 15.50 bn in cash. | Torrent Pharma – Voluntary recall of Semalix after manufacturer DRL’s semaglutide API |
| Paytm – Partners with Flip and its Indonesia arm to provide device hardware and technology. | |
| Anand Rathi Wealth – AUM crosses Rs. 1 trillion, up 14 pct QoQ; margin expanded by 420 bps. | |
| Lux Ind – Signs licensing agreement for Reebok brand in India for innerwear and thermal wear. | |
| Blue Jet Health – Allots shares to Shamyak Investment and ICICI Prudential Funds through QIP. | |
| Muthoot Microfin – AUM up 18 pct; disbursements rose 49 pct YoY; collection efficiency improves. | |
| Vikram Solar – Signs 130 MW solar cell supply agreement with Evervolt Solar. | |
| Great Eastern Shipping – Takes delivery of 2015-built long-range tanker Jag Laxman. | |
| Footwear Companies – DPIIT extends legacy stock clearance timeline for footwear till July 31, 2027. | |
| Yes Bank – ICRA upgrades rating to AA from AA-; S&P Global assigns BB+ rating in its first coverage. | |
| Havells India – Enters BESS segment through strategic collaboration with Pixii AS. | |
| ONGC – Board gives in-principle approval to develop 1.75 MT petroleum reserves in Mangalore. | |
| Power Grid Corporation – Wins bid for Bhadla to Kanpur inter-state BOOT transmission project. | |
| Dixon Tech – Government clears JV with Vivo; executes 51:49 joint venture agreement for smartphone manufacturing. | |
| Federal Bank – S&P Global assigns investment-grade long-term rating of BBB-/Stable. | |
| CONCOR/GAIL India – Sign long-term agreement to set up LNG dispensing stations |
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