Market Commentary
Global markets
US market closed negative on Monday over rising treasury yields led by renewed standoff between US-Iran and Fed’s guidance on inflation concerns. Dow Jones closed down by 0.7 pct, and Nasdaq closed red by 0.9 pct.
Asian markets
Asian markets trading negative in the early morning trade. Hang Seng trading down by 0.6 pct. While Nikkei trading red by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 51,487 | -0.7 | 7.1 |
| Nasdaq | 26,820 | -0.9 | 15.4 |
| Hang Seng | 24,494 | -0.6 | -4.4 |
| Nikkei | 65,306 | -0.9 | 29.6 |
Commodities
Gold prices edged higher after tumbling over 4 pct is previous session and currently stood at USD 4,139 amid continued pressure from US Iran war on energy prices. On the other hand, oil prices stood at USD 99.35/bbl.
| Commodities | % Change | |
| Last Close | 1 day | |
| Gold ($) | 4,139 | 0.63 |
| Silver ($) | 60.69 | 0.14 |
| Brent Crude ($) | 99.35 | 0.60 |
Indian Indices
India’s equity benchmark is likely to open muted as Gift Nifty indicates. Benchmark indices closed negative on Monday over elevated oil prices, led by no diplomatic resolution between US and Iran over reopening Hormuz, pushed bond yields above 5 pct mark and increased the rate hike bet.
| Indian Market | % Change | ||
| Last close | 1 day | YTD | |
| Sensex | 72,771 | -1.5 | -14.6 |
| Nifty | 22,780 | -1.6 | -12.8 |
| Nifty Bank | 54,471 | -2.0 | -8.6 |
| Nifty Midcap 100 | 59,914 | -1.6 | -0.9 |
| Nifty Smallcap 100 | 19,351 | -1.8 | 9.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,235 | 55,915 |
| 100 DMA | 23,323 | 56,160 |
| 200 DMA | 23,707 | 56,810 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -5,353 | -396,567 |
| DII | 5,189 | 635,634 |
Stocks to watch
| Positive Read through | Negative Read through |
| HCLTech – To buy Robotiq.Ai for Euro 9 mn. | Tata Group – Tata Trusts proposes merger of electric arms into Tata Sons to shed core investment company tag. |
| Coforge – Appoints Akhil Gupta as chairperson of company for a period of five years. | Cube Highways – Seventy Second Invst likely to sell up to 3.35 pct units via block deals. |
| GE Shipping – Bags contract for delivery of a new 157,000 dwt Suezmax tanker in FY29. | Manappuram/Muthoot – Gold extends decline, down 4 pct overnight. |
| Sun Ph – PTI reports, US waives tariffs on certain specialty drugs from 20 countries, including India. | |
| Zydus Life – US FDA issues one observation for company’s manufacturing plant at SEZ II, Ahmedabad. | |
| IRFC – Inks Rs. 4.2 bn loan agreement with DVC for renewable energy projects. | |
| Voda Idea – Net subscription added in August at 506,000 vs 240,000 in July. | |
| Vikram Solar – Bags 400 MW order from an EPC player. | |
| NCC – Gets letter of award for a project worth Rs. 1.08 bn. | |
| Ellenbarrie – Bags Rs. 4.81 bn contract from BHEL. | |
| Prasol Chem – Q1 Revenue Up 35.7 pct, Margin at 21 pct vs 12.7 pct YoY. | |
| Clean Max – Raises Rs. 25 bn via green bond issuance | |
| Power Mech – Bags Rs. 2.79 bn, 3-year O&M project | |
| Ola Elec – Board approves fund raise up of to Rs. 10 bn via rights issue | |
| Pidilite Ind – To introduce advanced footwear adhesive from South Korea | |
| Newgen Software – Arm bags Rs. 530 mn from a health insurance company in the US | |
| Aarti Ind – To consider fund raise at board meet on October 1 |
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