Market Commentary
Global markets
US market closed negative on Tuesday over renewed US-Iran geopolitical concern. Dow Jones closed down by 0.1 pct. While Nasdaq closed lower by 0.1 pct.
Asian markets
Asian markets trading mixed in the early morning trade. Hang Seng trading higher by 1.3 pct. While Nikkei trading red by 2.8 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 52,930 | -0.2 | 10.1 |
| Nasdaq | 25,818 | -0.1 | 11.1 |
| Hang Seng | 23,932 | 1.3 | -6.6 |
| Nikkei | 67,758 | -2.8 | 34.4 |
Commodities
Gold prices rose and currently stood at USD 4,126 on renewed geopolitical uncertainty. On the other hand, oil prices stood at USD 76.16/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,126 | 0.5 |
| Silver ($) | 60.58 | 1.0 |
| Brent Crude ($) | 76.16 | 0.3 |
Indian Indices
India’s equity benchmarks likely to open gap down as GIFT Nifty indicates. Benchmark indices declined on Tuesday, due to downtick in metals which offsets gains in IT companies while broad based profit booking dragged market lower.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,180 | -0.1 | -8.3 |
| Nifty | 24,398 | -0.1 | -6.6 |
| Nifty Bank | 58,200 | -0.2 | -2.3 |
| Nifty Midcap 100 | 62,285 | -0.3 | 3.0 |
| Nifty Smallcap 100 | 19,219 | -0.5 | 8.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,827 | 55,662 |
| 100 DMA | 24,073 | 56,283 |
| 200 DMA | 24,862 | 57,254 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 393 | -352,829 |
| DII | -383 | 485,338 |
Stocks to watch
| Positive Read through | Negative Read through |
| Mtar Technologies – ICRA upgrades facilities worth Rs. 14.70 bn from A to A+. | Gold Financiers – Gold prices decline 1.5 pct overnight to around USD 4,100/oz. |
| ONGC – US strikes on Iran revoke sanction waiver on Iranian oil; Brent crude jumps 6 pct. | Cochin Shipyard – Government to exercise Green Shoe option in OFS. |
| Uno Minda – Enters 4W passenger vehicle seating systems business with Rs. 3.20 bn capex through a joint venture. | OMCs / CGDs / Paint Companies – Brent crude rises after US revokes Iran oil sanction waiver, increasing input cost concerns. |
| Indigo – May passenger traffic up 11 pct MoM; market share maintained at 64.9 pct. | IdeaForge – Likely to raise up to Rs. 5 bn via QIP at an indicative issue price of 5 pct discount to CMP. |
| Ems – Bags Rs. 1.58 bn order from Delhi Jal Board for sewerage work. | Hindustan Zinc – Silver prices fell 3 pct overnight to below USD 60/oz. |
| Embassy Developments – Q1 pre sales jumped over 3x, collection rose 54 pct YoY | |
| Matrimony – Consolidated billing up 7.8 pct YoY | |
| PC Jeweller – Cleared and repaid all its outstanding debt | |
| Smartworks – Adds 1.63lk sqft to its existing capacity in Pune |
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