

Market Commentary
Global markets – US indices closed lower on Monday as Powell led momentum wanes. Dow Jones closed down by 0.8 pct. While Nasdaq closed red by 0.2 pct.
Global Indices | % Change | ||
Last Close | 1 day | YTD | |
Dow Jones | 45,282 | -0.8 | 6.4 |
Nasdaq | 21,449 | -0.2 | 11.1 |
Hang Seng | 25,760 | -0.3 | 28.4 |
Nikkei | 42,354 | -1.1 | 6.2 |
Commodities – Gold prices rose and currently stood at USD 3,371 on Fed policy path. On the other hand, oil prices stood at USD 67.91/bbl.
Commodities % Change | ||
Last Close | 1 day | |
Gold ($) | 3,371 | 0.2 |
Silver ($) | 38.67 | 0.3 |
Brent Crude ($) | 67.91 | -0.4 |
Moving Averages | ||
Nifty 50 | Nifty Bank | |
50 DMA | 25,018 | 56,276 |
100 DMA | 24,648 | 55,397 |
200 DMA | 24,068 | 52,877 |
Asian markets – Asian markets trading muted in the early morning trade, largely following western markets. Hang Seng trading down by 0.3 pct. While Nikkei trading red by 1.1 pct.
Indian Indices – India’s equity benchmarks are likely to open red as GIFT Nifty indicates. Benchmark Indices closed positive on Monday led by IT stocks supported by Potential US rate cuts.
Indian Market | % Change | ||
Last Close | 1 day | YTD | |
Sensex | 81,635 | 0.4 | 4.1 |
Nifty | 24,967 | 0.4 | 5.2 |
Nifty Bank | 55,139 | -0.0 | 8.4 |
Nifty Midcap 100 | 57,701 | 0.1 | 0.9 |
Nifty Smallcap 100 | 17,911 | 0.0 | -4.6 |
Institutional Activity | Rs crore | |
Cash | YTD | |
FII | -2466 | -200,848 |
DII | 3176 | 487,102 |
Stocks to watch
Positive Read through
- Protean eGov – Bags 6-year contract worth Rs. 11.60 bn from UIDAI to the Seva Kendra.
- ONGC – Natural gas sales of 1 lakh scm/day from Rajasthan field.
- Tata Motors – NCLT approves scheme of arrangement for CV and PV businesses
- AB Capital – RBI approves appointment of Vishakha Mulye as MD for 5 years.
- Lemon Tree – Signed a new property in Maharashtra.
- Nuvoco Vistas – Received certification for 3 more products under PLI scheme.
- Paytm – Additional investment in Paytm Money and PSPL, simplifies group structure.
- GE Shipping – To buy a Suezmax crude carrier of about 1.64 lakh dwt to expand fleet.
- IRB Infra – Vadodara-Mumbai highway completed, eligible for Rs. 1.80 bn payments.
Negative Read through
- Vodafone – Minister of state for telecom said government not discussing any additional package for company.
- Textile companies – US notifies 25 pct additional tariff on India from August 27.
- Sai life – TPG Asia likely to sell entire 14.72 pct equity via block deal, base price Rs. 860 per share.
- Nhpc – Commencement of 85 MW solar capacity of Karnisar project delayed to September-end.
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