Market Commentary
Global markets – US indices rebounded on Tuesday led by uptick in industrial and tech stocks. Dow Jones closed green by 0.4 pct. While Nasdaq closed higher by 0.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,474 | 0.4 | 11.6 |
| Nasdaq | 23,413 | 0.6 | 21.2 |
| Hang Seng | 25,842 | -1.0 | 38.8 |
| Nikkei | 49,862 | 1.1 | 25.0 |
Commodities – Gold prices remain steady and currently stood at USD 4,223 over rate cut anticipation. On the other hand, Oil prices stood at USD 62.39/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,223 | 0.4 |
| Silver ($) | 58.68 | 0.4 |
| Brent Crude ($) | 62.39 | 0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,583 | 57,458 |
| 100 DMA | 25,235 | 56,493 |
| 200 DMA | 24,603 | 54,829 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading lower by 1.0 pct. While Nikkei trading green by 1.1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices extended losses on Tuesday as concerns over foreign outflows and the rupee falling to a record low fuelled profit booking.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 85,138 | -0.6 | 9.0 |
| Nifty | 26,032 | -0.5 | 10.1 |
| Nifty Bank | 59,273 | -0.7 | 16.5 |
| Nifty Midcap 100 | 60,910 | -0.2 | 6.5 |
| Nifty Smallcap 100 | 17,776 | -0.5 | -5.3 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3642 | -279,495 |
| DII | 4645 | 714,887 |
Stocks to watch
Positive Read through
- Sun Pharma – Board approves Rs. 30 bn to set up formulations manufacturing unit in MP.
- Maruti – Unveils its first EV e-Vitara with 543-km range and launches EV ecosystem.
- Canara Bank – Raises Rs. 35 bn via tier-1 bonds at 7.55 pct.
- Apeejay Surendra – Lease agreement with Katsons Hotel for 42-room ‘Casa De Katson’ property.
- Adani Ent – Dilutes stake in arm Astraan Defence to JV partner MSM Group.
- HindCopper – MoU with NTPC Mining to participate in copper and critical minerals block auctions.
- Rallis India – Ask Investment Managers buys 1.12 mn shares at Rs. 266.7 per share via block deals.
- Oil India – FM approves upgradation of Numaligarh refinery to Navratna status.
- IRFC – Inks agreement with Sumitomo Mitsui, GIFT City to raise USD 300 mn as ECB.
- DRL – Delhi HC allows manufacturing of diabetes and anti-obesity drug semaglutide in India and export of it.
- Onesource – Delhi HC allows manufacturing of diabetes and anti-obesity drug semaglutide in India and export of it.
- Bank of Maha – Government to exercise greenshoe option of the OFS.
Negative Read through
- Angel One – November gross client acquisition fell 11.1 pct, number of orders declined 12.3 pct MoM.
- PSU Banks – MoS Finance says no such proposal is approved on raising FDI in PSU banks to 49 pct.
- Embassy Dvpt – Forfeits Rs. 1.33 bn of application money on non-exercise of warrants by investors.
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