Market Commentary
Global markets
US market fell on Thursday, led by US wholesale inflation data, rising yields, and oil prices. Dow Jones closed down by 0.6 pct, while Nasdaq closed lower by 0.7 pct.
Asian markets
Asian markets trading negative in the early morning trade. Hang Seng trading down by 1.3 pct. While Nikkei trading red by 1.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,069 | -0.6 | 8.3 |
| Nasdaq | 26,081 | -0.7 | 12.2 |
| Hang Seng | 24,639 | -1.3 | -3.9 |
| Nikkei | 63,469 | -1.2 | 25.9 |
Commodities
Gold remains steady and stood at USD 4,320 on rising crude oil prices and US Fed rate uncertainty. On the other hand, oil prices stood at USD 108.1/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,320 | -0.05 |
| Silver ($) | 63.36 | -0.31 |
| Brent Crude ($) | 108.1 | -1.14 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices improved on Thursday, after volatile closing auction, while Middle East cloud lingers.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,902 | 0.2 | -12.1 |
| Nifty | 23,477 | 0.2 | -10.1 |
| Nifty Bank | 56,471 | 0.3 | -5.2 |
| Nifty Midcap 100 | 62,357 | -0.4 | 3.1 |
| Nifty Smallcap 100 | 20,021 | -0.1 | 13.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,171 | 57,490 |
| 100 DMA | 23,999 | 56,541 |
| 200 DMA | 24,557 | 57,383 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -438 | -371,176 |
| DII | 1,025 | 600,848 |
Stocks to watch
| Positive Read through | Negative Read through |
| ONGC/OIL – Sharp surge in crude, Brent near $110/bbl on escalating West Asia tensions. | OMCs/Paint – Sharp surge in crude, Brent near $110/bbl on escalating West Asia tensions |
| HDFC Bank – Wins all 7 Bahrain cases over Credit Suisse AT1 bonds claims. | Coforge – ‘BERs were withheld from other board members & independent directors on chairman’s instruction’ |
| STL – Gets US certification for factory-built cable assemblies for data center indoor use. | Granules – Promoter likely to sell up to 6.94 pct equity via block deals, offer price at 3 pct discount to CMP |
| Voda Idea – SBI-led lender group weighs approx Rs. 350,000 mn funding plan for company. | Neogen Chem – Launches QIP at floor price of Rs. 2,190/share, might offer up to 5 pct discount |
| KIMS – O&M agreement with Sarvottam Health for an initial term of 5 years. | |
| Raymond Realty – To mull fund raise via issue of equity, other means on September 11. | |
| Premier Energies – To form 85:15 JV with RCT India for 12 GWh BESS manufacturing unit in Telangana. | |
| Accutas Chem – Granted process patent for ‘Preparing 2,4 Dimethylthiophenol’. | |
| Redington – Becomes Siemens Digital Software distributor in Africa. | |
| Milky Mist – Commissions a new Skyr & Greek yogurt plant in Tamil Nadu. | |
| KSH Intl – Maharashtra Pollution Control Board nod to operate Phase II of Supa facility. |
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