Market Commentary
Global markets
US market closed lower on Friday over weaker Dollar, rising bond yields. Dow jones closed flat while Nasdaq slipped 0.5 pct.
Asian markets
Asian markets trading negative in the early morning trade. Hang Seng trading down by 0.9 pct. While Nikkei trading red by 1.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,565 | 0.0 | 11.4 |
| Nasdaq | 26,402 | -0.5 | 13.6 |
| Hang Seng | 25,365 | -0.9 | -1.0 |
| Nikkei | 65,361 | -1.6 | 29.7 |
Commodities
Gold prices fell and currently stood at USD 4,422 over Fed chair hawkish stance. On the other hand, oil prices stood at USD 90.10/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,426 | -0.7 |
| Silver ($) | 66.18 | -0.2 |
| Brent Crude ($) | 90.10 | 2.5 |
Indian Indices
India’s equity benchmarks likely to open muted as GIFT Nifty indicates. Benchmark indices recovered on Friday led by IT stocks ahead of Fed chair speech and NVIDIAs outlook.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,264 | 0.4 | -9.3 |
| Nifty | 24,175 | 0.4 | -7.5 |
| Nifty Bank | 57,496 | 0.0 | -3.5 |
| Nifty Midcap 100 | 64,069 | 0.1 | 5.9 |
| Nifty Smallcap 100 | 20,080 | 0.2 | 13.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,208 | 57,619 |
| 100 DMA | 24,017 | 56,403 |
| 200 DMA | 24,652 | 57,451 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -5039 | -364,701 |
| DII | 5183 | 573,241 |
Stocks to watch
| Positive Read through | Negative Read through |
| Ather Energy – Launches Konarc scooter on a new platform at Rs. 99,000 | HDFC Bank – S Jagdishan won’t seek re-appointment as MD & CEO, company to fast-track succession |
| Persistent Systems – Board meet on Sep 2 to consider fund raise via QIP or other means | Knowledge Realty – Blackstone entities likely to sell up to 25 pct stake via OFS, floor price at Rs. 108/unit |
| Reliance – Jio Platforms gets SEBI nod for IPO | OMCs/Paint – Crude jumped 2 pct to USD 90/bbl+ as US-Iran trade blows for the first time in over a month |
| Tata Chemicals – Arm wins bid to acquire soda ash customer contracts, sales potential USD 110 mn | |
| ONGC/Oil – Crude jumped 2 pct to >USD 90/bbl as US-Iran trade blows for the 1st time in over a month | |
| TRIL – Bags first nuclear power sector order from Megha Engineering for NPCIL Kaiga units 5 & 6 | |
| Thirumalai Chem – To sell 5 pct equity in Ultramarine & Pigments | |
| Avantel – Bags Rs. 1.18 bn order from DRDO | |
| Ashoka Buildcon – Bags LoA for an order worth Rs. 6.02 bn from RVNL | |
| Max Estates – To buy entities owning 84.7 acres in Delhi with Rs. 100–120 bn GDV for Rs. 4.20 bn | |
| STL – Long-term supply contract worth USD 288 mn with a leading hyperscaler | |
| Cipla – US FDA classifies InvaGen unit 3 in New York as VAI | |
| Igl – Raises Delhi CNG prices by Rs. 3.89/kg, retail price now at Rs. 83.09/kg | |
| AxisCades – To acquire Cloud Wave Tech for Rs. 2.60 bn | |
| Prestige Estates – Launches residential project in Chennai with estimated GDV of Rs. 13.30 bn | |
| Ola Electric – Opens booking for S1Z scooter, starting at Rs. 79,999 | |
| Laurus Labs/Lenskart/Adani Energy/Groww – Will be included in the MSCI Standard Index |
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