Market Commentary
Global markets
US market closed lower on Friday as war in Iran fuels inflation worries. Dow Jones closed red by 0.3 pct. While Nasdaq closed down by 0.9 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading up by 0.4 pct. While Nikkei trading muted by 1.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,558 | -0.3 | -3.1 |
| Nasdaq | 22,105 | -0.9 | -4.9 |
| Hang Seng | 25,575 | 0.4 | -0.2 |
| Nikkei | 53,138 | -1.3 | 5.4 |
Commodities
Gold prices fell and currently stood at USD 5,003 on profit booking. On the other hand, oil prices stood at USD 104.46/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 5,003 | -0.3 |
| Silver ($) | 79.49 | -1.5 |
| Brent Crude ($) | 104.46 | 0.5 |
Indian Indices
India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices bleeding for 3 straight sessions over Middle east conflict and surging Oil prices kept sentiments weak.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,563 | -1.9 | -12.5 |
| Nifty | 23,151 | -2.1 | -11.4 |
| Nifty Bank | 53,757 | -2.4 | -9.8 |
| Nifty Midcap 100 | 54,761 | -2.7 | -9.8 |
| Nifty Smallcap 100 | 15,895 | -2.5 | -10.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,358 | 59,518 |
| 100 DMA | 25,648 | 59,161 |
| 200 DMA | 25,317 | 57,500 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -10,716 | -106,610 |
| DII | 9977 | 181,006 |
Stocks to watch
| Positive Read through | Negative Read through |
| Britannia – Shareholders approve appointment of Rakshit Hargave as CEO & MD of company | Salasar Techno – Production, supply & EPC business impacted due to LPG shortage |
| Autos – Parliamentary panel recommends introducing an incentive mechanism for e-4W under PM E-Drive | Aster Dm – Nurse strike in Kerala leads to revenue loss of Rs. 177 mn, Rs. 53 mn additional loss possible |
| Va Tech – Bags order of over Rs. 10 bn to build Chennai’s looped water grid | IDBI Bank – Government might not proceed with divestment as bids likely below reserve price |
| Data Patterns – Bags Rs. 2.88 bn order for weather radars from IMD | Gillette India – Bhiwadi facility barred from operating by pollution regulator |
| Brainbees – Expands Qwik delivery service to new pin codes in Bangalore, Pune and Hyderabad | |
| Patanjali Food – To lease land for Rs. 6.7 bn, buy plant & machinery for biscuit manufacturing | |
| Reliance Ind – Government clears new listing rules, paving way for Jio IPO | |
| JSW Steel – Announces Minas De Revuboe (MDR) coking coal mining project in Mozambique | |
| Jio Fin – IRDAI grants Allianz Jio Reinsurance certificate of registration to commence business | |
| Indigo – Introduces fuel charge on domestic & international routes amid West Asia crisis | |
| Dilip Buildcon – Declared lowest bidder for Rs. 1.6 bn EPC road project | |
| Waaree Ener – To open 10 GW ingot & wafer manufacturing unit in Nagpur worth Rs. 62 bn | |
| Seamec – JV with Supreme Hydro bags O&M services contract from ONGC worth Rs. 4.11 bn | |
| Shree Cement – Commissions 3.5 MTPA unit in Karnataka, integrated unit now fully commissioned | |
| Zydus Life – Anaemia drug Desidustat gets marketing approval in China | |
| Alkem Labs – Gets EU GMP certificate for manufacturing facility located at Baddi, India |
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