Market Commentary
Global markets
US market closed mixed on Thursday over rising oil prices and hawkish fed outlook pushing treasury yields higher. Dow Jones closed down by 0.3 pct, while Nasdaq closed flat.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading down by 1.9 pct. While Nikkei trading green by 1.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 51,355 | -0.3 | 6.8 |
| Nasdaq | 26,939 | 0.0 | 15.9 |
| Hang Seng | 24,282 | -1.9 | -5.3 |
| Nikkei | 66,317 | 1.2 | 31.6 |
Commodities
Gold remains steady and currently stood at USD 4,283 as stronger dollar and fed rate outlook weighs. On the other hand, oil prices stood at USD 98.75/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,283 | 0.16 |
| Silver ($) | 63.85 | 0.04 |
| Brent Crude ($) | 98.75 | -1.45 |
Indian Indices
India’s equity benchmark is likely to open muted as Gift Nifty indicates.Benchmark indices contracted on Thursday led by combination of higher bond yields, crude oil prices, a stronger US Dollar, banking stocks, and the Sensex monthly expiry volatility contributing to the stock market sell-off.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 73,580 | -1.7 | -13.7 |
| Nifty | 23,063 | -1.6 | -11.7 |
| Nifty Bank | 55,438 | -2.0 | -7.0 |
| Nifty Midcap 100 | 60,990 | -2.3 | 0.8 |
| Nifty Smallcap 100 | 19,684 | -1.5 | 11.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,013 | 57,209 |
| 100 DMA | 23,922 | 56,562 |
| 200 DMA | 24,432 | 57,242 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -5027 | -387,521 |
| DII | 4,301 | 627,607 |
Stocks to watch
| Positive Read through | Negative Read through |
| L&T Technology – Partners with Cognite to advance engineering intelligence with industrial AI. | Inox Green – Launches QIP, likely to raise up to Rs. 4 bn, indicative issue price at 5 pct discount to CMP. |
| MCX/BSE/NSE – SEBI allows access for FPIs to non-agri commodities trading. | ESDS – EBITDA down 45.5 pct, margin at 42 pct vs 61 pct QoQ. |
| Piramal Fin – Sees 18-24 bps impact on RoA in FY28, on track to meet profit guidance. | Wheels India – Launches QIP, likely to raise up to Rs. 2.5 bn, indicative issue price at 4 pct discount to CMP. |
| RR Kabel – To buy Usha Martin’s OFC business for Rs. 770 mn on a slump sale basis. | IRB Infra InvIT – Likely to raise up to Rs. 20 bn QIP, indicative issue price at 3 pct discount to CMP. |
| Dr Lal Pathlabs – To acquire 70 pct in SN Genelab for up to Rs. 1.68 bn. | Purple Style – Weak Q1, EBITDA loss expands, revenue up 18 pct YoY. |
| LCC Projects – Declared lowest bidder for Rajasthan irrigation contract worth Rs. 6.53 bn. | JSW Cement – Receives Rs. 2.3 bn GST show-cause notice for April 2022-March 2024. |
| Steamhouse India – Bags Rs. 3.11 bn order in Himachal Pradesh. | PB Fintech – See a serious impact on revenue on the general insurance side. |
| Waaree Energies – Clean energy arm enters specialty gases market. | |
| TeamLease – Incorporates arm TL Business Solutions in the USA. |
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