Market Commentary
Global markets – US indices closed negative on Tuesday over continued conflict between Israel and Iran. Dow Jones slipped by 0.7 pct. While Nasdaq closed lower by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,215 | -0.7 | -0.8 |
| Nasdaq | 19,521 | -0.9 | 1.1 |
| Hang Seng | 23,674 | -1.3 | 18.0 |
| Nikkei | 38,791 | 0.7 | -2.8 |
Commodities – Gold prices remain lower and currently trading at USD 3,383 over stronger dollar. On the other hand, oil prices stood at USD 76.77/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,383 | -0.2 |
| Silver ($) | 37.16 | 0.0 |
| Brent Crude ($) | 76.77 | -0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,343 | 54,706 |
| 100 DMA | 23,672 | 52,042 |
| 200 DMA | 24,081 | 51,824 |
Asian markets – Asian markets trading mixed in the early morning trade over global uncertainty. Hang Seng slipped by 1.3 pct. While Nikkei trading higher by 0.7 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed lower on Tuesday as pharma stocks tanks sharply over Donald Trump fresh Tariff plan.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,583 | -0.3 | 4.4 |
| Nifty | 24,853 | -0.4 | 5.1 |
| Nifty Bank | 55,714 | -0.4 | 9.5 |
| Nifty Midcap 100 | 58,379 | -0.7 | 2.1 |
| Nifty Smallcap 100 | 18,420 | -0.7 | -1.9 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1482 | -135,692 |
| DII | 8207 | 343,039 |
Stocks to watch
Positive Read through
- Polycab – Signed agreement worth Rs. 64.47 bn with BSNL for BharatNet programme.
- Bharat Forge – Signed MoU with France’s Turgis Gaillard to offer AAROK UAV to Indian defence.
- ONGC/Oil – Oil prices inch higher, Brent above USD 76/bbl tracking West Asian tensions.
- DCS System – Bags orders worth of Rs. 286 mn.
- EMS – Declared lowest bidder for a project worth Rs. 1.84 bn from UP Jal Nigam.
- M&M – Gets unconditional CCI nod for SML Isuzu acquisition and open offer.
- Railtel – Gets LoI from Zoram Electronics for project worth Rs. 440 mn.
- Vedanta – Company likely to sell up to 1.60 pct stake in HZL via block deal.
- Ugro Cap – To acquire 100 pct stake in Profectus Capital for Rs. 13.98 bn.
- Delhivery – Gets CCI nod to acquire Ecom Express for up to Rs. 14.07 bn.
Negative Read through
- OMCs/Paint Cos – Oil prices inch higher, Brent above USD 76/bbl tracking West Asian tensions.
- Hind Zinc – Vedanta likely to sell up to 1.60 pct equity via block deal, floor price at 7 pct discount to CMP.
- BSE ltd – F&O expiry day changed to Thursday from Tuesday.
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