Market Commentary
Global markets – US indices closed higher on Monday as tech stocks rebounds. Dow Jones closed green by 0.4 pct. While Nasdaq closed higher by 2.7 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,448 | 0.4 | 9.2 |
| Nasdaq | 22,872 | 2.7 | 18.4 |
| Hang Seng | 26,016 | 1.2 | 29.7 |
| Nikkei | 48,815 | 0.4 | 22.4 |
Commodities – Gold prices rose and currently stood at USD 4,148 amid Fed rate cut hopes. On the other hand, oil prices stood at USD 62.47/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,148 | 0.4 |
| Silver ($) | 51.54 | 0.4 |
| Brent Crude ($) | 62.57 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,471 | 56,935 |
| 100 DMA | 25,196 | 56,348 |
| 200 DMA | 24,527 | 54,543 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading up by 1.2 pct. While Nikkei trading positive by 0.4 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices closed extended losses on Tuesday led by broad based selling ahead of the monthly derivatives expiry.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,900 | -0.4 | 8.7 |
| Nifty | 25,959 | -0.4 | 9.8 |
| Nifty Bank | 58,835 | -0.1 | 15.7 |
| Nifty Midcap 100 | 60,081 | -0.3 | 5.0 |
| Nifty Smallcap 100 | 17,696 | -0.8 | -5.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4171 | -275,194 |
| DII | 4512 | 689,432 |
Stocks to watch
Positive Read through
- Sunteck Realty – Marks UAE entry with AED 5 bn GDV flagship project.
- Siemens Energy – Q4 margin in line with estimates, sales grew 22 pct YoY.
- DRL – Receives European Commission nod for Osteoporosis drug AVT03 (denosumab).
- Eris Lifesciences – Buys remaining 30 pct stake in Swiss Parenterals for Rs. 4.23 bn.
- Ceigall India – Gets Lol to establish 400/220 kv Velgaon substation for Rs. 580 mn.
- BEL – Forms 50-50 JV with France’s Safran to produce precision air-to-ground weapons.
- Cello World – To extend brand to stationery and writing instruments, eyes Rs. 2 bn in first year.
- Surya Roshni – Bags order worth Rs. 1.05 bn from an engineering and infra company.
- Premier Explosives – Bags Rs. 730 mn export order.
Negative Read through
- Tilaknagar Ind – Promoter creates pledge on 26 pct equity as part of non-disposal undertaking.
- Yatra – CEO Dhruv Shringi resigned citing personal reasons, Siddhartha Gupta to takeover.
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