Market Commentary
Global markets – US indices closed negative on Tuesday as Jackson Hole jitters hit tech stocks. Dow Jones closed flat. While Nasdaq tumbled by 1.5 pct.
Commodities – Gold prices remain steady and currently stood at USD 3,316 over less demand. On the other hand, oil prices stood at USD 65.96/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,316 | 0.0 |
| Silver ($) | 37.25 | -0.3 |
| Brent Crude ($) | 65.96 | 0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,015 | 56,334 |
| 100 DMA | 24,591 | 55,238 |
| 200 DMA | 24,052 | 52,799 |
Asian markets – Asian markets trading lower in the early morning trade, Hang Seng trading down by 0.4 pct. While Nikkei trading red by 1.5 pct.
Indian Indices – India’s equity benchmarks are likely to open red as GIFT Nifty indicates. Benchmark Indices extended rally on Tuesday led by auto makers on hopes of a demand boost from proposed GST rate cuts.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,644 | 0.5 | 4.5 |
| Nifty | 24,980 | 0.4 | 5.7 |
| Nifty Bank | 55,865 | 0.2 | 9.8 |
| Nifty Midcap 100 | 57,664 | 1.0 | 0.8 |
| Nifty Smallcap 100 | 17,914 | 0.7 | -4.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -634 | -196,904 |
| DII | 2261 | 479,902 |
Stocks to watch
Positive Read through
- GRSE – Expects sales and profit growth in FY26 and FY27 similar to FY25.
- NTPC – Commissioned 4th part capacity of Khavda-I solar PV project and 52.8 MW for another project.
- Hero Moto – Launches new Glamour X125 at ex-showroom price of Rs. 89,999.
- Endurance – Board approves capex of Rs. 1.35 bn to enhance ABS and disc brake system capacity.
- Cochin Shipyard – Expects 14-15 pct sales growth in FY26, to double sales by 2030 or 2031.
- Airtel – To discontinue Rs. 249 base plan offering 1 GB data with 28-day validity.
- GMR Power – Board meet on Aug 22 to consider fund raise of up to Rs. 30 bn.
- Lloyds Metals – Successful bidder for Tandsi-III and Tandsi-III coal mine with 23 MT reserves.
- HAL – Bags Rs. 620 bn order for 97 LCA Mark 1A fighter jets, as per reports.
- Dynamic – Gets BIS nod to manufacture high conductivity aluminium alloy & fire survival cables.
- IRFCL – Sanctions Rs. 2 bn loan for development of Surat multi-modal transport hub.
- Phoenix Mill – Gets CCI nod for CPP investments’ exit from its arm.
Negative Read through
- Delta Corp/Nazara Tech – Government to move bill seeking ban on online money gaming in parliament.
- Info Edge – Chintan Thakkar resigns as CFO, Ambarish Raghuvanshi appointed as interim CFO.
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