Market Commentary
Global markets – US indices closed lower on Monday Fed meeting looms. Dow Jones closed red by 0.4 pct. While Nasdaq closed lower by 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 47,739 | -0.4 | 12.2 |
| Nasdaq | 23,545 | -0.1 | 21.9 |
| Hang Seng | 25,541 | -0.9 | 27.3 |
| Nikkei | 50,688 | 0.2 | 27.1 |
Commodities – Gold prices remain steady and currently stood at USD 4,193 ahead of Fed meeting. On the other hand, Oil prices stood at USD 62.37/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,193 | 0.0 |
| Silver ($) | 58.23 | 0.1 |
| Brent Crude ($) | 62.37 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,650 | 57,780 |
| 100 DMA | 25,266 | 56,591 |
| 200 DMA | 24,661 | 55,025 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.9 pct. While Nikkei trading positive by 0.2 pct.
Indian Indices – India’s equity benchmarks are likely to open red as GIFT Nifty indicates. Benchmark Indices declined on Monday led by uncertainty over potential trade deal and persisted foreign outflow.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 85,102 | -0.7 | 8.9 |
| Nifty | 25,960 | -0.9 | 9.8 |
| Nifty Bank | 59,238 | -0.9 | 16.5 |
| Nifty Midcap 100 | 59,488 | -1.8 | 4.0 |
| Nifty Smallcap 100 | 17,051 | -2.6 | -9.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -655 | -285,741 |
| DII | 2,542 | 730,010 |
Stocks to watch
Positive Read through
- L&T – Board approves consolidation of realty business undertaking to L&T Realty.
- Welspun Corp – Associate company bags contract worth Rs. 11.65 bn from Saudi Water Authority.
- ICICI Bank – To buy additional 2 pct equity in ICICI Prudential AMC for Rs. 21.40 bn.
- Fujiyama Power – Margin at 18.10 pct vs 15.20 pct; sales jumped 73 percent YoY.
- Adani Ent – To invest Rs. 25 bn to set up a data center unit in Telangana.
- Siemens – To sell low-voltage motors business Innomotics India for an EV of Rs. 22 bn.
- UFO Moviez – Arm partners with Shenzhen Timewaying for LED cinema screens.
- PhysicsWallah – Sales rose 26 percent; margin expanded 110 bps YoY.
Negative Read through
- IndiGo – Seek more time for a full analysis, Rs. 8.27 bn of refunds made.
- LT Foods, KRBL – Trump questioned treasury sector about dumping rice in US by India.
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