Market Commentary
Global markets – US indices closed positive on Friday on hopes for Israel-Iran de-escalation. Dow Jones closed positive by 0.8 pct. While Nasdaq closed higher by 1.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,515 | 0.8 | -0.1 |
| Nasdaq | 19,701 | 1.5 | 2.0 |
| Hang Seng | 24,000 | -0.2 | 19.6 |
| Nikkei | 38,501 | 0.5 | -3.5 |
Commodities – Gold prices remain flat and currently trading at USD 3,385 amid ongoing Middle East tension. On the other hand, oil prices stood at USD 73.69/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,385 | 0.0 |
| Silver ($) | 36.34 | 0.1 |
| Brent Crude ($) | 73.69 | 1.7 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,313 | 54,621 |
| 100 DMA | 23,657 | 51,979 |
| 200 DMA | 24,082 | 51,802 |
Asian markets – Asian markets trading mixed in the early morning trade over global uncertainty. Hang Seng slipped by 0.2 pct. While Nikkei trading higher by 0.5 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices rebounded on Monday as hopes of de-escalation in the Israel-Iran conflict.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,796 | 0.8 | 4.7 |
| Nifty | 24,946 | 0.9 | 5.5 |
| Nifty Bank | 55,944 | 0.8 | 10.0 |
| Nifty Midcap 100 | 58,768 | 0.9 | 2.7 |
| Nifty Smallcap 100 | 18,549 | 1.0 | -1.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2539 | -137,174 |
| DII | 5780 | 334,831 |
Stocks to watch
Positive Read through
- Hyundai India – Commences production at engine unit in Talegaon.
- Godrej Properties – Acquires 16 acres land in Pune with Rs. 31 bn development potential.
- HCL Tech – Bags multi-year deal for private cloud and network management for E.ON.
- DLF – ICRA upgrades arm DLF Cyber City rating to AAA, outlook revised to stable from positive.
- Sona BLW – Board backs CEO Vivek Vikram Singh to run business, will appoint new chair.
- Zee Ent – To raise up to Rs. 22.37 bn via issue of warrants to promoter entities at Rs. 132/share.
- TCS – To deploy BaNCS at the Council of Europe Development Bank.
- Mastek – Bags contract to train NHS board and SIRO on cybersecurity.
- Biocon – Launches QIP, likely to raise up to Rs. 45 bn, indicative floor price Rs. 323.2/share.
- Mphasis – Partners with Sixfold to accelerate AI adoption in insurance industry.
- Axis Cades – Indra signs agreement to boost production of cutting-edge systems in India.
Negative Read through
- ONGC – Gas leak continues for 5th day in Assam oil well.
- Asian Paints – Reliance sell 8.5 mn shares at Rs. 2207/share to ICICI Prudential via block deal.
- VMM – Promoter likely to sell shares of Rs. 99 bn via block deal, floor price at 12 pct discount.
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