Market Commentary
Global markets
US market closed higher on Thursday as NVIDIA’s rally offsets caution on Fed event. Dow jones closed up by 0.2 pct and Nasdaq climbed 1.6 pct.
Asian markets
Asian markets trading positive in the early morning trade. Hang Seng trading higher by 0.1 pct. While Nikkei trading up by 0.8 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,574 | 0.2 | 11.5 |
| Nasdaq | 26,541 | 1.6 | 14.2 |
| Hang Seng | 25,591 | 0.1 | -0.2 |
| Nikkei | 66,682 | 0.8 | 32.3 |
Commodities
Gold prices fell and currently stood at USD 4,586 ahead FED chair comments at Jackson Hole. On the other hand, oil prices stood at USD 88.33/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,586 | -0.3 |
| Silver ($) | 68.56 | -0.4 |
| Brent Crude ($) | 88.33 | -0.1 |
Indian Indices
India’s equity benchmarks likely to open flat as GIFT Nifty indicates. Benchmark indices extended loses on Thursday dragged by HDFC bank after report of possible US class action lawsuit.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,933 | -0.7 | -9.7 |
| Nifty | 24,090 | -0.5 | -7.8 |
| Nifty Bank | 57,509 | -0.5 | -3.5 |
| Nifty Midcap 100 | 64,035 | -0.1 | 5.9 |
| Nifty Smallcap 100 | 20,040 | -0.1 | 13.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,208 | 57,629 |
| 100 DMA | 24,005 | 56,354 |
| 200 DMA | 24,658 | 57,452 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 4977 | -359,661 |
| DII | -298 | 568,057 |
Stocks to watch
| Positive Read through | Negative Read through |
| Ather Energy – Hero Moto to buy additional 2.9 pct stake, to invest up to Rs. 17.58 bn | Lenskart – Alpha Wave may sell 1.2 pct equity via block deals, floor price at 1.7 pct discount to CMP |
| Tejas Networks – Rs. 15.37 bn letter of intent (LOI) from TCS, order backlog doubles | |
| Texmaco Rail – To form JV with German company Bochumer Verein Verkehrstechnik | |
| Metropolis – FY27 sales growth seen at 14-15 pct, margin may improve by 100-150 bps | |
| Star Cement – No longer required to pay mineral cess, relief follows MMDR amendment | |
| Gujarat Themis Biosyn – To consider fund raising on Sep 1 via equity/warrants/preference issue | |
| Apollo Tyres – Warburg Pincus sells 4.25 pct stake, ICICI Pru MF & SBI Life buyers in block deals | |
| NBCC – Bags multiple orders worth Rs. 1.34 bn | |
| Vodafone Idea – KM Birla says FY27 will be a year of execution and delivery | |
| GE Shipping – Announces Rs. 9 bn share buyback, representing 4.1 pct equity at Rs. 1,530/share | |
| Federal-Mogul – Declares interim dividend of Rs. 7.50/share and special dividend of Rs. 86.50/share |
Disclaimer: The views shared in blogs are based on personal opinions and do not reflect the company’s views. Investment involves risk, and it is advisable to consult a financial advisor before making any investment through the app. The decision to invest is solely that of the investor, and the company or its communication cannot be held responsible for it.
