Market Commentary
Global markets
US market closed lower on Wednesday as dimming hopes of rate cuts dragged US stocks. Dow Jones closed red by 1.6 pct. While Nasdaq closed down by 1.5 pct.
Asian markets
Asian markets trading lower in the early morning trade. Hang Seng trading down by 1.5 pct. While Nikkei trading up by 2.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,225 | -1.6 | -3.8 |
| Nasdaq | 22,152 | -1.5 | -4.7 |
| Hang Seng | 25,624 | -1.5 | 0.0 |
| Nikkei | 53,875 | -2.5 | 6.9 |
Commodities
Gold prices rose and currently stood at USD 4,855 over global uncertainty. On the other hand, oil prices stood at USD 112.24/bbl after Iran strikes Middle East energy facilities.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,855 | 0.8 |
| Silver ($) | 76.25 | 1.2 |
| Brent Crude ($) | 112.24 | 2.4 |
Indian Indices
India’s equity benchmarks are likely to open gap down as GIFT Nifty indicates. Benchmark Indices extended gains on Wednesday led by uptick in IT stocks and broader Asian gains.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,070 | 0.8 | -10.7 |
| Nifty | 23,581 | 0.7 | -9.8 |
| Nifty Bank | 54,876 | 0.9 | -7.9 |
| Nifty Midcap 100 | 55,174 | 1.0 | -8.8 |
| Nifty Smallcap 100 | 15,912 | 0.6 | -10.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,247 | 59,306 |
| 100 DMA | 25,600 | 59,093 |
| 200 DMA | 25,304 | 57,492 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2,714 | -123,431 |
| DII | 3,253 | 202,077 |
Stocks to watch
| Positive Read through | Negative Read through |
| Nazara Tech – To buy over 50 pct stake in Bluetile & Bestplay for Rs. 9.18 bn, with option to acquire remaining stake | HDFC Bank – Part time chairman resigns with immediate effect, says certain practices not in-line with his ethics. |
| Belrise Ind – To buy UK entity in component supplies for aviation and defence for Rs. 1.64 bn | |
| Purvankara – Gets RERA nod to launch new tower in existing project | |
| Mazagon Dock – Bags USD 39 mn SCI contract for 3,000 dwt methanol PSV | |
| Manappuram Fin – RBI gives final nod for Bain to acquire joint control of company and its arms | |
| Vedanta – Board meeting on March 23 to consider third interim dividend | |
| Natco Pharma – To consider amalgamation of Agrochem division with arm | |
| Suryoday SFB – Promoter and MD buy 50,000 shares in company via open market | |
| Ubl – Gets pollution control board nod for unit at Unnao, Uttar Pradesh | |
| Gr Infra – Declared lowest bidder for Rs. 24.41 bn HAM project |
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