Market Commentary
Global markets – US indices closed positive on Friday after US and China agreed on a trade framework. Dow Jones rose by 1 pct. While Nasdaq climbed 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 43,819 | 1.0 | 3.0 |
| Nasdaq | 20,273 | 0.5 | 5.0 |
| Hang Seng | 24,154 | -0.5 | 20.4 |
| Nikkei | 40,809 | 1.6 | 2.3 |
Commodities – Gold prices currently stood at USD 3,280 amid trade deal hopes. On the other hand, oil prices stood at USD 67.91/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,280 | 0.2 |
| Silver ($) | 36.07 | 0.3 |
| Brent Crude ($) | 67.91 | 0.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,665 | 55,445 |
| 100 DMA | 23,813 | 52,579 |
| 200 DMA | 24,077 | 51,996 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.5 pct. While Nikkei trading positive by 1.6 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices continued upward rally on Friday led by Financials and metal stocks as easing political development spurred risk on sentiment.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,058 | 0.4 | 7.6 |
| Nifty | 25,673 | 0.5 | 8.6 |
| Nifty Bank | 57,443 | 0.4 | 12.9 |
| Nifty Midcap 100 | 59,385 | 0.3 | 3.8 |
| Nifty Smallcap 100 | 18,976 | 0.9 | 1.1 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1397 | -121,501 |
| DII | -588 | 354,076 |
Stocks to watch
Positive Read through
- Bharti Airtel – Adds 2.76 lakh users in May vs addition of 1.70 lakh users in April.
- Godrej Props – Acquires 43 acres land in Panipat, sales potential at Rs. 12.50 bn.
- RVNL – Declared lowest bidder for a project worth Rs. 2.13 bn from South Central Railway.
- Amber Ent – To acquire majority stake in Power-One Micro to enter BESS, EV charging segments.
- Alembic Pharma – Gets US FDA approval for doxorubicin hydrochloride injection.
- Aurobindo – Arm gets pollution control board nod to restart penicillin-G production at Kakinada unit.
- Hind Copper – MoU with IOC to jointly participate in copper, critical minerals block auctions.
- JB Chem – Torrent Pharma to acquire controlling stake in company at valuation of Rs. 256.89 bn.
- Reliance – Adds 27 lakh users in May vs addition of 26.44 lakh users in April.
- NTPC Green – Arm declares commercial ops of first part capacity at Khavda solar energy project.
- Prestige Est – To jointly acquire land in Chennai with Arihant Group for project with GDV of Rs. 16 bn.
- Cochin Shipyard – Bags order in the range of Rs. 1-2.50 bn for two 70 T bollard pull tugs.
- Titagarh – JV bags supply order worth Rs. 4.30 bn from Maharashtra Metro Rail Corp.
- Waaree Energies – Arm bags 540 MW US solar module order.
Negative Read through
- Jyoti CNC – Non-promoter shareholders likely to sell up to 6 pct stake via block deals.
- Karnataka Bank – Board accepts resignation of MD & CEO Srikrishnan Hari Hara Sarma and executive director.
- Granules – US FDA issues Form 483 with 1 observation for Chantilly, USA unit.
- HOEC – Stops production at Block B-80 due to adverse weather conditions.
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