Market Commentary
Global markets – US indices closed lower on Wednesday over renewed tech weakness. Dow Jones closed red by 0.5 pct. While Nasdaq closed in negative by 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,885 | -0.5 | 12.6 |
| Nasdaq | 22,693 | -1.8 | 17.5 |
| Hang Seng | 25,398 | -0.3 | 26.6 |
| Nikkei | 49,006 | -1.0 | 22.8 |
Commodities – Gold prices fell and currently stood at USD 4,332 over profit booking. On the other hand, oil prices stood at USD 60.08/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,332 | -0.1 |
| Silver ($) | 66.33 | 0.2 |
| Brent Crude ($) | 60.08 | -1.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,803 | 58,357 |
| 100 DMA | 25,320 | 56,752 |
| 200 DMA | 24,767 | 55,377 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading down by 0.3 pct. While Nikkei trading in red by 1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices extended losses on Wednesday amid concerns over foreign outflows and rupee depreciation, with no clarity regarding an India-U.S. trade deal.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,559 | -0.1 | 8.2 |
| Nifty | 25,818 | -0.2 | 9.2 |
| Nifty Bank | 58,926 | -0.2 | 15.9 |
| Nifty Midcap 100 | 59,388 | -0.5 | 3.8 |
| Nifty Smallcap 100 | 17,138 | -0.7 | -8.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1172 | -296966 |
| DII | 768 | 751,291 |
Stocks to watch
Positive Read through
- Antony Waste – Arm’s JV bags Rs. 13.30 bn seven-year collection and transportation contract.
- Titagarh Rail – Bags first signalling and safety systems order worth Rs. 2.73 bn.
- TCS – AI-related services have generated USD 1.5 bn sales on an annualised basis.
- AMCs – SEBI revises expense ratios, brokerage caps for mutual fund transactions better than proposed.
- Bajaj Elec – To enter solar solutions as a new or additional line of business.
- Mahindra Life – Launches Mahindra Blossom project in Bengaluru with GDV of Rs. 19 bn.
- KPI Green – KP Group signs MoU with Government of Botswana to invest in renewable energy
- Astrazeneca – CDSCO nod to import for sale datopotamab deruxtecan powder, a new drug in India.
- HCLTech – Bags digital transformation deal from ASN Bank, fourth-largest bank in the Netherlands.
- Denta Water – Bags four major water infrastructure projects worth over Rs. 1.06 bn in Karnataka.
- Cyient – Semicon arm to buy mixed-signal analog IC maker Kinetic Tech for USD 93 mn.
- GMR Power – To raise up to Rs. 12 bn via preferential issue and issue of securities.
- Paytm – Arm gets RBI nod to operate as a payment aggregator for offline and cross-border payments.
- GE Vernova – Gets LoA for 2×500 MW HVDC refurbishment project from Power Grid.
- Emmvee – Gets possession certificate from Karnataka Development Board for 100 acres of land.
Negative Read through
- IndusInd Bank – CTO resigns, MCA has ordered a SFIO probe against bank, as per reports.
- Marico – Extends date by 12 months to acquire remaining 40 pct in Satiya Nutraceuticals.
- Ola Elec – Bhavish Aggarwal sold 42 mn more shares via open market to promoter obligation.
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