Market Commentary
Global markets – US indices extended losses on Monday ahead of payroll data. Dow Jones closed red by 0.1 pct. While Nasdaq closed in negative by 0.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 48,416 | -0.1 | 13.8 |
| Nasdaq | 23,057 | -0.6 | 19.4 |
| Hang Seng | 25,176 | -1.8 | 25.5 |
| Nikkei | 49,523 | -1.3 | 24.1 |
Commodities – Gold prices fell and currently stood at USD 4,292 amid profit booking. On the other hand, oil prices stood at USD 61.43/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,292 | -0.3 |
| Silver ($) | 63.09 | -1.7 |
| Brent Crude ($) | 60.19 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,769 | 58,231 |
| 100 DMA | 25,306 | 56,712 |
| 200 DMA | 24,736 | 55,275 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading down by 0.7 pct. While Nikkei trading in red by 1.5 pct.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices closed flat on US trade deal delay.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 85,213 | -0.1 | 9.1 |
| Nifty | 26,027 | -0.1 | 10.1 |
| Nifty Bank | 59,461 | 0.1 | 16.9 |
| Nifty Midcap 100 | 60,212 | -0.1 | 5.3 |
| Nifty Smallcap 100 | 17,425 | 0.2 | -7.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1,468 | -295755 |
| DII | 1,792 | 749,444 |
Stocks to watch
Positive Read through
- Power Grid – Gets LoI to establish an inter-state transmission system in Odisha and Andhra Pradesh.
- Britannia – Brings in Subhashis Basu, ex-CEO of Anik Milk, to head dairy business; dairy business head now CSTO.
- Zydus Life – US FDA accepts resubmission of new drug application for Menkes disease treatment.
- Delhivery – Launches on-demand intracity offering in Mumbai and Hyderabad via Delhivery Direct.
- Intellect – Partners with 35 Canadian credit unions for digital banking, calls off GIFT City JV.
- HCLTech – Expands partnership with Aurobay to act as trusted partner in Sweden and China business.
- GOCL Corp – To merge Hinduja National Power; promoter holding to rise from 67 pct to 75 pct.
- GMR Airports – November passenger traffic up 7.4 pct, aircraft movements rise 7.9 pct YoY.
- Arvind Smart – Adds residential high-rise project in Bengaluru with sales potential of Rs. 5.50 bn.
- Solex Energy – Partners with Malaysia’s TT Vision for solar automation and talent development.
- RPG Lifesciences – To transfer API business to arm and infuse Rs. 1.05 bn.
- BL Kashyap – Bags an order worth Rs. 6.16 bn from Sattva CKC Private.
- ION Exchange – Bags orders worth Rs. 2.05 bn from Rayzon Energy and Inox Solar.
- Lemon Tree – Signs a new 80 well-appointed rooms property in Nepal.
- Inox Wind – Secures a repeat 100 MW order from Jakson Green.
- IIFL Fin – S&P Global revises rating outlook from ‘stable’ to ‘positive’.
Negative Read through
- RBL Bank – Buvanesh Tharashankar resigns as CFO with effective from 15 December, 2015.
- Zota Health – Launches QIP, likely to raise up to Rs. 4 bn, indicative issue price at 9 pct discount to CMP.
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