Market Commentary
Global markets
US market closed higher on Tuesday led by tech rally and falling yields. Dow jones closed up by 0.3 pct and Nasdaq rose 0.7 pct.
Asian markets
Asian markets trading positive in the early morning trade. Hang Seng trading higher by 0.9 pct. While Nikkei trading up by 0.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,582 | 0.3 | 11.5 |
| Nasdaq | 26,151 | 0.7 | 12.5 |
| Hang Seng | 25,732 | 0.9 | 0.4 |
| Nikkei | 66,227 | 0.6 | 31.2 |
Commodities
Gold prices remain steady and currently stood at USD 4,650 as investors focus on US Inflation data. On the other hand, oil prices stood at USD 85.21/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,650 | -0.1 |
| Silver ($) | 69.15 | 0.7 |
| Brent Crude ($) | 85.21 | -0.8 |
Indian Indices
India’s equity benchmarks likely to open positive as GIFT Nifty indicates. Benchmark indices rebounded on Tuesday over easing oil prices.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,656 | 0.4 | -8.9 |
| Nifty | 24,334 | 0.5 | -6.9 |
| Nifty Bank | 57,514 | 0.0 | -3.5 |
| Nifty Midcap 100 | 64,162 | 0.5 | 6.1 |
| Nifty Smallcap 100 | 19,906 | -0.1 | 12.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,203 | 57,620 |
| 100 DMA | 23,976 | 56,232 |
| 200 DMA | 24,672 | 57,453 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1593 | -359,865 |
| DII | 230 | 556,655 |
Stocks to watch
| Positive Read through | Negative Read through |
| Hind Copper – Government exercising greenshoe option, non-retail OFS subscribed 3.4x | Welspun Corp – Promoter group likely to sell 2.4 pct equity via block deals |
| Hind Zinc – All restrictions stand released following repayment of debt by parent entities | Gujarat Themis – Rs. 4 bn QIP launched. Issue price at 12 pct discounts to CMP |
| SBI Card – Outperforms industry spend growth, up 22 pct YoY | Cipla – USFDA issues 7 observation for Pithampur facility |
| UBL – Heineken Silver now available in Kerala, Odisha & Madhya Pradesh | GMR Airports – AERA sets UDF for Hyderabad Airport lower Vs proposed fee by company |
| Advait Energy – Wins Rs. 1.35 bn turnkey ERS contract from MPPTCL | Honasa – Calls off proposed acquisition of Fluence Pharma |
| Varun Beverages – To set up arm KIVA Spirits for ready-to-drink alcoholic beverages | Rainbow Child – Vikas Maheshwari resigns as CFO w.e.f. August 31 |
| Cyient – Eyes Double-digit YoY topline growth is the near-term priority | |
| NBCC – Bags Rs. 1.22 bn order from Rajasthan Council of School Education | |
| ARSS Infra – Bags work order worth Rs. 1.04 bn from East Coast Railway | |
| Sai Parenterals – Renews 3-year agreement of Rs. 2.04 bn with Australia’s leading pharma networks |
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