Market Commentary
Global markets
US market declined on Thursday pressured by Middle East conflict. Dow Jones closed red by 1.0 pct. While Nasdaq closed fell by 2.4 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading up by 0.1 pct. While Nikkei trading red by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 45,960 | -1.0 | -4.4 |
| Nasdaq | 21,408 | -2.4 | -7.9 |
| Hang Seng | 24,893 | 0.1 | -2.9 |
| Nikkei | 53,145 | -0.9 | 5.4 |
Commodities
Gold prices rose and currently stood at USD 4,428 amid signs of easing Middle East conflict. On the other hand, oil prices stood at USD 100.9/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,428 | 1.1 |
| Silver ($) | 68.59 | 0.6 |
| Brent Crude ($) | 100.90 | 0.7 |
Indian Indices
India’s equity benchmarks are likely to open gap down as GIFT Nifty indicates. Benchmark Indices extended gains on Wednesday as prospects of a Middle East ceasefire pulled oil prices lower.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,273 | 1.6 | -11.7 |
| Nifty | 23,306 | 1.7 | -10.8 |
| Nifty Bank | 53,708 | 2.1 | -9.9 |
| Nifty Midcap 100 | 55,331 | 2.3 | -8.5 |
| Nifty Smallcap 100 | 15,896 | 2.6 | -10.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,903 | 58,537 |
| 100 DMA | 25,432 | 58,809 |
| 200 DMA | 25,255 | 57,416 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1,805 | -156,737 |
| DII | 5,429 | 234,978 |
Stocks to watch
| Positive Read through | Negative Read through |
| Shriram Fin – CCI approves MUFG’s investment in the company | Power Mech – Rs, 15.63 bn 250 MW/1000 MWh standalone BESS project in WB cancelled |
| RBL Bank – Emirates NBD gets UAE central bank nod for stake acquisition in bank, RBI nod awaited | Fino Payments Bank – CEO gets bail, bank withdraws re-appointment of Rishi Gupta as MD & CEO |
| Hilton Metal – Sales agreement for supply of bomb artillery shells worth Rs. 7.20 bn | Tamo PV – Reuters reports JLR stops production on car lines at its Solihull plant for 2 weeks |
| Aurobindo Pharma – Arm CuraTeQ inks marketing deal for Europe | Cipla – Pradeep Bhadauria, global chief scientific officer, has resigned w.e.f March 31 |
| Sula Vineyards – To buy 19-acre vineyard & wine facility in Nashik for Rs. 200 mn | Landmark Cars – Exits Volkswagen operations in Delhi NCR |
| L&T Tech – To divest smart world and communication business for Rs. 4.52 bn | |
| Infosys – To acquire companies in healthcare & insurance space for up to USD 560 mn | |
| NHPC – Board approves Rs. 80 bn debt raising plan for FY27 via bonds and loans | |
| Prestige Group – To jointly acquire land in Padi, Chennai with Arihant Group, GDV Rs. 50 bn | |
| OFSS – Software licensing agreement with US-based bank worth USD 100 mn | |
| BDL – First production model of advanced Akash weapon completed, to set up units | |
| JSW Energy – SC dismisses AP DISCOM’s appeal, upholds APTEL order in GBI deduction case | |
| Utkarsh SFB – Approves sale of NPA, written-off loans worth Rs. 14.91 bn to an ARC | |
| Global Health – To set up 400-bed hospital in Varanasi | |
| Indigo, GMR Airports – Government clears modified UDAN scheme, sum for airlines’ viability gap |
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