Market Commentary
Global markets
US market ended lower on Wednesday on Fed’s rate hike bets. Dow Jones closed down by 1 pct. While Nasdaq closed negative by 1.3 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading down by 1.8 pct. While Nikkei trading green by 1.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 51,498 | -1.0 | 7.1 |
| Nasdaq | 26,021 | -1.3 | 12.0 |
| Hang Seng | 23,864 | -1.8 | -6.9 |
| Nikkei | 71,052 | 1.6 | 41.0 |
Commodities
Gold prices rises and currently stood at USD 4,314 after Fed leaves rates unchanged. On the other hand, oil prices stood at USD 78.34/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,314 | 1.3 |
| Silver ($) | 68.86 | 1.5 |
| Brent Crude ($) | 78.34 | -0.4 |
Indian Indices
India’s equity benchmarks likely to open gap up as GIFT Nifty indicates while Benchmark indices continued rally on Wednesday led by broad based buying across sectors and continued strength in the broader market.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,155 | 0.5 | -9.5 |
| Nifty | 24,085 | 0.4 | -7.8 |
| Nifty Bank | 57,585 | 0.5 | -3.4 |
| Nifty Midcap 100 | 61,123 | 0.5 | 2.7 |
| Nifty Smallcap 100 | 18,623 | 0.8 | 5.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,803 | 55,080 |
| 100 DMA | 24,231 | 56,471 |
| 200 DMA | 24,904 | 57,012 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 101 | -345,199 |
| DII | 1561 | 449,819 |
Stocks to watch
| Positive Read through | Negative Read through |
| Redington – Benefits as Apple plans to raise product prices due to surging memory costs | Anthem Biosciences – Promoter likely to sell 6.84 pct stake worth nearly Rs. 13 bn via block deal. |
| Lupin – Launches Edarbi generic in the US with 180-day exclusivity; reference drug market size USD 53.5 mn | Bosch Home – Promoter launches OFS to sell up to 8 pct stake, with floor price at a 10 pct discount to CMP. |
| HUDCO – Signs MoU with the Gujarat Government to provide Rs. 1 trillion financial assistances | |
| RailTel – Receives Rs. 530 mn LoI for an order from MeitY. | |
| RVNL – Receives Rs. 9.68 bn LoA for a project from Eastern Railway. | |
| HFCL – Bags a Rs. 26.66 bn order from RVNL for telecom equipment supply. | |
| Shyam Metalics – Sets 2031 sales target at 2.3x FY26 levels and EBITDA target at 2.7x FY26 levels. | |
| Hexaware Technologies – To invest £25 mn in UK expansion. | |
| Textile/Alcohol Companies – India-UK FTA to become effective from July 15 | |
| Kirloskar Ferrous – Bags a USD 13.5 mn contract for the supply of basic-grade pig iron. | |
| Waaree Renew – Scope of a commercial order enhanced by Rs. 309 mn. | |
| HCG – KR Unit Ethics Committee suspended from overseeing any new clinical trial by CDSCO | |
| DOMS Ind – FILA sells 7 pct stake via block deals; SBI Mutual Fund and Axis Mutual Fund among buyers. |
Disclaimer: The views shared in blogs are based on personal opinions and do not reflect the company’s views. Investment involves risk, and it is advisable to consult a financial advisor before making any investment through the app. The decision to invest is solely that of the investor, and the company or its communication cannot be held responsible for it.
