Market Commentary
Global markets
US market extended gains on Thursday over easing bond yields and rate hike bets. Dow jones closed up by 1.2 pct while Nasdaq closed higher by 1.4 pct.
Asian markets
Asian markets trading positive in the early morning trade. Hang Seng trading up by 2.2 pct. While Nikkei trading green by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 53,691 | 1.2 | 11.7 |
| Nasdaq | 26,584 | 1.4 | 14.4 |
| Hang Seng | 25,769 | 2.2 | -0.5 |
| Nikkei | 64,769 | 0.9 | 28.5 |
Commodities
Gold prices remain steady and currently stood at USD 4,473 ahead of US Payroll data. On the other hand, oil prices stood at USD 95.67/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,473 | 0.0 |
| Silver ($) | 66.80 | -0.4 |
| Brent Crude ($) | 95.67 | -0.3 |
Indian Indices
India’s equity benchmarks likely to open gap up as GIFT Nifty indicates. Benchmark indices continued selling streak on Thursday as gains in financial stocks were offset by elevated oil prices amid renewed tensions in the Middle East.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,152 | -0.5 | -10.6 |
| Nifty | 23,873 | -0.2 | -8.6 |
| Nifty Bank | 57,380 | 0.4 | -3.7 |
| Nifty Midcap 100 | 63,235 | 0.4 | 4.5 |
| Nifty Smallcap 100 | 20,050 | 1.2 | 13.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,207 | 57,600 |
| 100 DMA | 24,027 | 56,512 |
| 200 DMA | 24,616 | 57,437 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2345 | -367,201 |
| DII | 4977 | 587,168 |
Stocks to watch
| Positive Read through | Negative Read through |
| IEX – Achieves highest-ever monthly electricity traded volume in Aug, up 20 pct YoY. | Gland Pharma – Fosun Pharma likely to sell ~5 pct stake via block, floor price at 5 pct discount to CMP. |
| HAL – Receives 3 more GE F404 engines for Tejas Mk1A, total deliveries reach 10. | Tata Chem – Kenyan president asks company to halt operations in the country, reports say. |
| Tata Motors CV – Iveco deal one step closer, Italian regulator Consob clears offer document. | Cables & Wires Cos – UltraTech enters segment with Rs. 18 bn investment, launches Ultravolt brand. |
| HDFC Bank – Bank raises nearly USD 12 bn via FCNR-B deposits. | RailTel – HP govt cancels Rs. 203.5 bn project. |
| Power Grid – Bags BOOT project in Gujarat with annual transmission charge of Rs. 11.52 bn. | |
| BSE/Angel One – SEBI to review settlement methodology for derivative contracts post CAS rollout. | |
| Hind Zinc – Gets Karnataka govt LOI for Gundlupet rare earth & yttrium mining block. | |
| STL – To spend Rs. 30 bn to expand capacity by 50 pct in light of optic fiber demand. | |
| Bharat Forge – Agreement for 70-mm rocket systems with Thales, partners with FN Herstal for small arms. | |
| CVs – Deadline for localising traction motor & motor controller systems for eBuses & eTrucks deferred. | |
| Ramco SyS – MoU with Safran helicopter engines for engine data and aviation software. | |
| UBL – Targets double-digit net sales growth, EBITDA and EPS growth seen ahead of revenue. | |
| Cipla – Exclusive partnership with Qilu for licensing & supply of Pembrolizumab in US. | |
| Adani Ports – To start dedicated empty container yard operations at Mundra Port & SEZ. | |
| RVNL – Bags Rs. 4.05 bn, 30-month contract from East Coast Railway. |
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