Market Commentary
Global markets – US indices closed higher on Tuesday as oil prices tumbled following Israel-Iran ceasefire. Dow Jones closed higher by 1.2 pct. While Nasdaq surged by 1.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 43,089 | 1.2 | 1.3 |
| Nasdaq | 19,913 | 1.4 | 3.1 |
| Hang Seng | 24,370 | 1.4 | 21.5 |
| Nikkei | 38,839 | 0.2 | -2.6 |
Commodities – Gold prices dropped and currently trading at USD 3,331 as safe-haven demand fell amid Middle East conflict. Oil prices dipped and stood at USD 68.04/bbl following Israel-Iran ceasefire.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,331 | -0.5 |
| Silver ($) | 35.91 | -0.4 |
| Brent Crude ($) | 68.04 | -2.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,574 | 55,237 |
| 100 DMA | 23,767 | 52,422 |
| 200 DMA | 24,075 | 51,942 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading higher by 1.4 pct. While Nikkei trading higher by 0.2 pct.
Indian Indices – India’s equity benchmarks are likely to start higher as GIFT Nifty indicates. Benchmark indices closed in green on Tuesday after Israel violated ceasefire, ordered military strike in Tehran.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,055 | 0.2 | 5.0 |
| Nifty | 25,044 | 0.3 | 5.9 |
| Nifty Bank | 56,462 | 0.7 | 11.0 |
| Nifty Midcap 100 | 58,622 | 0.7 | 2.5 |
| Nifty Smallcap 100 | 18,453 | 0.7 | -1.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2,973 | -130,586 |
| DII | 4,303 | 347,512 |
Stocks to watch
Positive Read through
- Hindalco – To acquire US-based alumina & alumina products company, AluChem for USD 125 mn.
- Manappuram Fin – CCI approved Bain Cap’s majority stake buy in company.
- OMCs, Paint Cos – ommissioned 2nd & last part capacity of Nokh solar PV project, Rajasthan.
- Aurobindo – CuraTeQ got nod from UK regulator for biosimilar pegylated filgrastim.
- JB Chem – US FDA gave nod for amitriptyline hydrochloride tablets.
- PTC Ind – Aerolloy Tech signed MoU with Safran aircraft engines.
- Bajel Projects – Secured EPC order in range of Rs. 1,000–2,000 mn.
- Rites – Bagged letter of intent for Rs. 280 mn order from Gujarat government.
- India Glycols – Achieved highest sales for its ‘Bunty Bubbly’ alcoholic beverage brand in FY24–25.
- Glenmark Pharmaceuticals – Launched lung cancer treatment drug Tevimbra in India.
- Indigo – May market share stood at 64.6 pct vs. 64.1 pct MoM.
- Ashok Leyland – Eyed CV market share gain and planned 50 new outlets in North India.
- IRCTC – Indian Railways was set to roll out a nationwide fare hike across all passenger classes.
- CWD Ltd – Receive initial order for Rs. 800 mn from a leading digital services provider.
Negative Read through
- Timex India – Promoter decided to sell 15 pct stake via OFS, floor price at Rs. 175 per share.
- Sun Pharma – Philogen withdrew application for melanoma drug, Nidlegy.
- ONGC, Oil – Crude dipped further, Brent below USD 69/bbl.
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