Market Commentary
Global markets
US market extended gains on Monday over easing geopolitical developments and oil prices. Dow Jones closed up by 0.9 pct. While Nasdaq closed positive by 3.1 pct.
Asian markets
Asian markets trading lower in the early morning trade. Hang Seng trading down by 1.3 pct. While Nikkei trading red by 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 51,676 | 0.9 | 7.5 |
| Nasdaq | 26,683 | 3.1 | 14.8 |
| Hang Seng | 24,519 | -1.3 | -4.3 |
| Nikkei | 69,234 | -0.1 | 37.4 |
Commodities
Gold prices rose and currently stood at USD 4,319 on US-Iran peace agreement. On the other hand, oil prices stood at USD 82.93/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,319 | 0.2 |
| Silver ($) | 69.54 | -0.6 |
| Brent Crude ($) | 82.93 | -0.6 |
Indian Indices
India’s equity benchmarks likely to open flat as GIFT Nifty indicates while Benchmark indices jumped on Monday, lifted by Middle East peace agreement and reopening of Strait of Hormuz.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,243 | 0.9 | -10.5 |
| Nifty | 23,853 | 1.0 | -8.7 |
| Nifty Bank | 57,198 | 0.7 | -4.0 |
| Nifty Midcap 100 | 64,549 | 1.3 | 1.8 |
| Nifty Smallcap 100 | 18,400 | 1.1 | 3.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,749 | 54,842 |
| 100 DMA | 24,263 | 56,522 |
| 200 DMA | 24,913 | 56,993 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 200 | -344,552 |
| DII | 3,189 | 448,318 |
Stocks to watch
| Positive Read through | Negative Read through |
| HCL Technologies – To acquire a 10.46 pct stake in Sarvam AI for Rs. 14.27 bn. | TCS – US Supreme Court rejects TCS challenge to a USD 168 mn award in a trade secrets case. |
| Northern Arc – Partners with Yes Bank in loan origination and investment product distribution. | Craftsman Auto – To raise up to Rs. 20 bn via QIP, with indicative pricing at a 6-8 pct discount to CMP. |
| Bandhan Bank – To sell 180-DPD housing finance NPAs worth Rs. 3.04 bn to ARCs via the Swiss Challenge method. | General Insurance Corporation – Government launches OFS to sell up to 5 pct stake, with floor price at a 9 pct discount to CMP. |
| Ashok Leyland – Signs MoU with MoRTH under a scheme for replacement of old trucks and buses | |
| Arvind Smart – Adds a new development project in Ahmedabad with revenue potential of Rs. 1.8 bn. | |
| Lloyds Engg – Board meeting on June 18 to consider fund raising via preferential issue of shares. | |
| Oil India – Signs MoU with CSIR for collaborative research and technology development. | |
| RailTel – Bags an order worth Rs. 158 mn from Munitions India. | |
| Yes Bank – Partners with Northern Arc Capital in loan origination and investment product distribution. | |
| Angel One – Settles SEBI adjudication proceedings; pays Rs. 43 mn settlement amount. | |
| GMR Airports – Airport traffic rose 6.1 pct in May; domestic traffic up 7.9 pct. | |
| Zee Entertainment – ZEE5 garners 1 mn viewers during the FIFA opening weekend. | |
| Adani Ent – To enter into a pact with Jabil Inc. to manufacture AI racks and infrastructure for the data center business. |
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