Market Commentary
Global markets
US market closed red on Thursday over Treasury Yields rebound and disappointed Walmart results. Dow jones closed down by 1.3 pct and Nasdaq fell by 1 pct.
Asian markets
Asian markets mixed lower in the early morning trade. Hang Seng trading positive by 0.1 pct. While Nikkei trading down by 2.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,764 | -1.3 | 9.8 |
| Nasdaq | 26,067 | -1.0 | 12.2 |
| Hang Seng | 25,880 | 0.7 | 1.0 |
| Nikkei | 66,008 | -0.3 | 31.0 |
Commodities
Gold prices rose and currently stood at USD 4,533 over changing Monetary policy expectations. On the other hand, oil prices stood at USD 93.62/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,533 | -0.3 |
| Silver ($) | 68.80 | 1.2 |
| Brent Crude ($) | 93.62 | 0.3 |
Indian Indices
India’s equity benchmarks likely to open flat as GIFT Nifty indicates. Benchmark indices recovered on Thursday driven by uptick in IT and financial stocks after global rebound.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,537 | 0.8 | -9.0 |
| Nifty | 24,231 | 0.6 | -7.3 |
| Nifty Bank | 57,495 | 0.4 | -3.5 |
| Nifty Midcap 100 | 63,671 | 0.4 | 5.3 |
| Nifty Smallcap 100 | 19,841 | 0.7 | 12.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,160 | 57,548 |
| 100 DMA | 23,933 | 56,066 |
| 200 DMA | 24,695 | 57,458 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -583 | -362,097 |
| DII | 3573 | 551,808 |
Stocks to watch
| Positive Read through | Negative Read through |
| HDFC Bank – Completes USD 1.75 bn bond issue Via GIFT City, largest by an Indian Bank since GFC. | Sugar Cos – Government allows 1 MT of raw sugar import at zero duty till Oct 31. |
| Welspun Corp – Bags largest order worth Rs. 172 bn for supply of pipes from us manufacturing unit. | Amagi – 5 pct Equity likely to change hands via block deals, floor price at 4.6 pct discount to CMP. |
| FMCG – Sale of loose, unlabelled edible oil to be prohibited in Maharashtra. | Meesho – FIR against Company as Gurugram teen dies after consuming chemical bought online. |
| KIMS – O&M agreement to run Arete Hospitals at 9 pct of net revenue with call option to acquire it. | IndiGo – July domestic air traffic lowest in nearly 4 years, company’s market share at 67 pct |
| Manipal Health – EBITDA jumped 26 pct YoY, ARPOB grew 4.4 pct QoQ. | Niva Bupa – IRDAI warns over EOM limit violation, bars new business locations for 6 months. |
| Anant Raj – Luxury Gurugram project estate one gets RERA registration certificate. | |
| RailTel – Bags Rs, 1.65 bn order from Western Coalfields. | |
| Tata Motors PV – Production at Sanand Plant & Suppliers’ facility back to normal. | |
| Adani Power – Wins appeal against MERC order for change in law compensation. | |
| Gold Fin/Hind Zinc – Gold up 6 pct this week, Spot Silver up 3 pct overnight. |
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