Market Commentary
Global markets – US indices, Dow jones climbed while Nasdaq fell on Oracle earning miss. Dow Jones closed green by 1.3 pct. While Nasdaq closed in negative by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 48,704 | 1.3 | 14.5 |
| Nasdaq | 23,593 | -0.3 | 22.2 |
| Hang Seng | 25,899 | 1.4 | 29.1 |
| Nikkei | 50,609 | 0.9 | 26.9 |
Commodities – Gold prices fell and currently stood at USD 4,271 on profit booking. On the other hand, oil prices stood at USD 61.71/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,273 | -0.1 |
| Silver ($) | 63.85 | -0.0 |
| Brent Crude ($) | 61.71 | 0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,691 | 57,958 |
| 100 DMA | 25,278 | 56,632 |
| 200 DMA | 24,690 | 55,125 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading up by 1.4 pct. While Nikkei trading positive by 0.9 pct.
Indian Indices – India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark Indices, closed positive on Thursday led by broad based rally after Fed rate cut.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,818 | 0.5 | 8.5 |
| Nifty | 25,898 | 0.5 | 9.5 |
| Nifty Bank | 59,209 | 0.4 | 16.4 |
| Nifty Midcap 100 | 59,578 | 1.0 | 4.2 |
| Nifty Smallcap 100 | 17,228 | 0.8 | -8.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2,020 | -293173 |
| DII | 3,796 | 743,783 |
Stocks to watch
Positive Read through
- Hind Zinc – Zinc at 2-month high, silver extends gains, up 4 pct overnight.
- Tata Power – Bags Rs. 1.56 bn order from REC Power Development & Consultancy.
- Dynacons Systems – Bags order worth Rs. 750 mn from J&K Bank.
- Honasa Cons – To buy 95 pct stake in BVPL for Rs. 1.95 bn, acquires Reginald Men.
- Vedanta – Successful bidder for Genjana nickel, chromium and PGE block.
- Piramal Pharma – Procedural observations for Kentucky unit, will be classified as VAI.
- Cyient – Acquires Abu Dhabi-based tech consulting and digital services company.
- Tata steel – To expand NINL capacity by 4.8 MTPA, commissioning by FY30.
- Astra Micro – Bags order worth Rs. 1.71 bn from Indian Meteorological Department.
- NBCC – Bags two orders: Rs. 2.56 bn order from Nalco and Rs. 330 mn from Sail.
- Kansai Nerolac – To sell 60 pct stake of Sri Lankan arm to Attire.
- Rama Steel – To acquire Automech Group holding for Rs. 7.28 bn.
- Senores – Launched Deferiprone tablets in the US< market size is USD 70 mn.
- First Source – Completes 100 pct acquisition of UK-based Pastdue Credit Solutions for POUND 22 mn.
Negative Read through
- Yes Bank – Proposal to extend Rajan Pental’s tenure as Executive Director rejected.
- IndiGo – Writ petition filled in High Court with respect to disruption, CEO to meet DGCA today.
- DRL – Novo Nordisk moved Delhi HC against export of semaglutide by DRL.
- Kirloskar Ferrous – Suspends operations at Hiriyur plant for maintenance and repair activities.
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