Market Commentary
Global markets
US market closed negative on Wednesday over Middel East concern and inflation fear. Dow Jones closed down by 1.9 pct. While Nasdaq closed negative by 2 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading up by 0.1 pct. While Nikkei trading red by 1.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 49,924 | -1.9 | 3.9 |
| Nasdaq | 25,169 | -2.0 | 8.3 |
| Hang Seng | 24,105 | 0.2 | -6.0 |
| Nikkei | 63,329 | -1.5 | 25.5 |
Commodities
Gold prices remain steady and currently stood at USD 4,076 amid inflation fear. On the other hand, oil prices stood at USD 94.45/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,076 | 0.0 |
| Silver ($) | 63.32 | -0.3 |
| Brent Crude ($) | 94.45 | -0.5 |
Indian Indices
India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark indices closed mixed on Wednesday led by gains in financials offsets a broader selloff triggered by a renewed escalation of the Middle East conflict.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 73,983 | 0.1 | -13.2 |
| Nifty | 23,214 | -0.1 | -11.2 |
| Nifty Bank | 55,100 | -0.2 | -7.5 |
| Nifty Midcap 100 | 59,810 | -1.5 | -1.1 |
| Nifty Smallcap 100 | 17,822 | -1.3 | 0.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,706 | 54,585 |
| 100 DMA | 24,329 | 56,617 |
| 200 DMA | 24,935 | 56,983 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2,124 | -341,682 |
| DII | 3,123 | 435,563 |
Stocks to watch
| Positive Read through | Negative Read through |
| PFC/REC – Presidential approval received for the proposed merger of REC into PFC. | Gold Sensitives – Gold prices fell 4 pct overnight, below USD 4,100/oz, hitting a 7-month low. |
| Zee Entertainment – To raise up to Rs. 23 bn in one or more tranches for business initiatives. | Paint Companies/OMCs – Crude jumps as US-Iran attacks continue, with Brent crude up nearly 2 pct. |
| DOMS Industries – To acquire Reynolds; total upfront consideration is USD 3.7 mn. | Lenskart – ADIA likely to sell up to 2.3 pct stake via block deals at a 3 pct discount to CMP. |
| ONGC/OIL – Crude oil jumps as US-Iran attacks continue, with Brent crude up nearly 2 pct. | |
| Textile Companies – Government approves 96 companies under Round-III of the textile PLI scheme. | |
| PPAP Auto – Partners with Hutchinson to develop advanced body sealing systems for passenger vehicles | |
| Hindalco Industries – Novelis restarts Oswego hot mill; CVD on aluminium wire extended. | |
| Deccan Gold Mines – Signs agreement for a tungsten project in Spain. | |
| Power Grid – Board approves Rs. 4.85 bn SCADA upgrade project and appoints Venkata SV as CFO. | |
| Honasa Consumer – Expects EBITDA margin to rise above 15 pct and targets Rs. 55 bn sales. | |
| Vascon Engineers – Bags work orders worth Rs. 3.47 bn from CPWD, Guwahati. | |
| Sugar Mills/Praj Industries – Government exempts E22 to E30 fuels from excise duty. |
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