Market Commentary
Global markets
US market extended gains on Friday as signs of progress toward a potential peace agreement between the US and Iran. Dow Jones closed up by 0.7 pct. While Nasdaq closed green by 0.3 pct.
Asian markets
Asian markets trading higher in the early morning trade. Hang Seng trading up by 0.4 pct. While Nikkei trading positive by 5.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 51,207 | 0.7 | 6.5 |
| Nasdaq | 25,888 | 0.3 | 11.4 |
| Hang Seng | 24,823 | 0.4 | -3.1 |
| Nikkei | 69,436 | 5.2 | 37.8 |
Commodities
Gold prices rose and currently stood at USD 4,323 on US-Iran peace agreement. On the other hand, oil prices stood at USD 83.23/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,323 | 2.5 |
| Silver ($) | 70.37 | 3.5 |
| Brent Crude ($) | 83.23 | -4.1 |
Indian Indices
India’s equity benchmarks opened gap up after US-Iran peace deal while Benchmark indices jumped on Friday driven by Middle East deal hopes, easing oil prices and stronger Rupee.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,527 | 2.3 | -11.4 |
| Nifty | 25,809 | 2.0 | -9.6 |
| Nifty Bank | 56,814 | 3.0 | -4.6 |
| Nifty Midcap 100 | 60,768 | 2.4 | 0.5 |
| Nifty Smallcap 100 | 18,197 | 2.8 | 2.7 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,719 | 54,704 |
| 100 DMA | 24,281 | 56,546 |
| 200 DMA | 24,919 | 56,985 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1,082 | -344,752 |
| DII | 5,341 | 445,129 |
Stocks to watch
| Positive Read through | Negative Read through |
| Ather Energy – Board approves fund raise of up to Rs. 25 bn via QIP and other means. | ONGC/OIL – US-Iran reach peace deal; crude falls up to 5 pct, with Brent below USD 84/bbl. |
| KIMS – Preferential issue of warrants to promoters at Rs. 779/share for Rs. 6 bn. | Aurobindo Pharma – US FDA classifies arm Eugia Pharma’s unit as OAI and issues 11 observations |
| NRB Bearings – Promoter pledged shares reduced to 11.42 pct from 31.64 pct. | |
| RBL Bank – HDFC Bank’s Bhavin Lakhpatwala appointed CFO. | |
| JSW Energy – Signs agreement to acquire Maruti Clean Coal & Power for Rs. 14.10 bn. | |
| Iran-U.S. Deal – Positive for OMCs, paint companies, tyre companies, aviation, chemicals, travel, gold and silver sectors. | |
| Dr. Reddy’s Laboratories – First-to-file launch of Bosulif generic in the US, a USD 254 mn drug. | |
| Ashoka Build – JV receives LoA from Chhattisgarh Government to develop a Gems & Jewellery Park. | |
| Kabra Drugs – Receives LoI for a project worth Rs. 2 bn from the Chhattisgarh Government. | |
| HG Infra Engineering – Receives LoI from REC Power to establish an interstate transmission system. | |
| Meesho – To acquire Kirana Club for Rs. 2.02 bn. | |
| Affle 3i – Arm to acquire a mobile ad-tech firm in the US for USD 4.5 mn. | |
| Oswal Pumps – Bags solar orders worth up to Rs. 5.04 bn under PM Surya Ghar Yojana. | |
| Vedanta – Four demerged entities set to list today. |
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