Market Commentary
Global markets
US market closed continued loses on Monday as US-Iran clashes resumes. Dow jones closed down by 0.7 pct while Nasdaq slipped 0.1 pct.
Asian markets
Asian markets trading negative in the early morning trade. Hang Seng trading down by 0.9 pct. While Nikkei trading red by 0.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,191 | -0.7 | 10.7 |
| Nasdaq | 26,370 | -0.1 | 13.5 |
| Hang Seng | 25,326 | -0.9 | -1.2 |
| Nikkei | 66,050 | -0.4 | 31.1 |
Commodities
Gold prices fell and currently stood at USD 4,440 over rate hike bets. On the other hand, oil prices stood at USD 91.27/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,440 | -0.1 |
| Silver ($) | 66.62 | 0.1 |
| Brent Crude ($) | 91.27 | 0.7 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices extended loses on Monday over increased rate hike bets and higher oil prices.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,957 | -0.4 | -9.7 |
| Nifty | 24,080 | -0.4 | -7.8 |
| Nifty Bank | 58,024 | 0.9 | -2.6 |
| Nifty Midcap 100 | 64,224 | 0.2 | 6.2 |
| Nifty Smallcap 100 | 19,931 | -0.7 | 12.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,209 | 57,626 |
| 100 DMA | 24,027 | 56,456 |
| 200 DMA | 24,644 | 57,451 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -7955 | -372,687 |
| DII | 4588 | 577,830 |
Stocks to watch
| Positive Read through | Negative Read through |
| Ultratech – Commences commercial production of wires & cables plant at Bharuch (Gujarat) | EPL – Blackstone entity likely to sell its entire stake via block deals, offer price at 10 pct discount to CMP |
| Sudarshan Chem – Divests VP4 Frankfurt to Celanese for ~Rs. 8.46 bn | TBZ – Receives open offer from GRT Jewellers for ~26 pct at Rs. 249.6/share |
| Happiest Minds/ITC – ITC Info to acquire 22 pct stake in Happiest Minds | |
| Milky Mist – Strong Q1, EBITDA up 77 pct, margin at 14.8 pct vs 12 pct YoY | |
| Brigade Group – Enters Coimbatore with residential development having GDV of up to Rs. 6 bn | |
| Sun Pharma – White House pricing deal wins two-year tariff reprieve | |
| Cipla – Gets exclusive rights to commercialise SBP’s breast cancer drug in India, South Africa & Ems | |
| E2E Networks – Term sheet for Rs. 10 bn contract with Sovereign AI Co for Nvidia GPUs. | |
| ONGC – On track to sign final pacts in Venezuela for energy projects, as per reports. | |
| PVR INOX – To buy back 2.1 pct equity at Rs. 1,450/share for Rs. 3 bn | |
| NCC – Bags 3 orders worth Rs. 4.30 bn pertaining to building division of company | |
| Aster DM – Rs. 1.34 bn capacity expansion at the facility of KIMS Health Care for 184 beds | |
| SJVN – Successful completion of 72-hour trial run of 660 MW Unit-2 Buxar project | |
| Kotak Mah Bank – Submits recommendation of two executives of bank to RBI for CEO role | |
| Muthoot Fin – Board approves scheme of amalgamation for Muthoot Money | |
| MGL – Hikes CNG rates by Rs. 2/kg, domestic PNG by Rs. 1/scm |
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