Market Commentary
Global markets – US indices closed positive on Thursday as hopes for rate cuts build. Dow Jones closed up by 0.8 pct. While Nasdaq closed green by 1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 45,621 | 0.8 | 6.4 |
| Nasdaq | 21,707 | 1.0 | 11.3 |
| Hang Seng | 25,214 | 0.6 | 25.7 |
| Nikkei | 42,890 | 0.7 | 7.5 |
Commodities – Gold prices rose and currently stood at USD 3,551 ahead of US economic data. On the other hand, oil prices stood at USD 66.83/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,551 | 0.1 |
| Silver ($) | 40.82 | 0.5 |
| Brent Crude ($) | 66.83 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,973 | 55,993 |
| 100 DMA | 24,773 | 55,615 |
| 200 DMA | 24,086 | 52,960 |
Asian markets – Asian markets trading higher in the early morning trade, Hang Seng trading up by 0.6 pct. While Nikkei trading positive by 0.7 pct.
Indian Indices – India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark Indices closed higher on Thursday as higher tax rates on oil-related services and IT shares extended losses on U.S. tariff concerns, offsetting the optimism from domestic tax cuts.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,718 | 0.2 | 3.3 |
| Nifty | 24,734 | 0.1 | 4.6 |
| Nifty Bank | 54,075 | 0.0 | 6.3 |
| Nifty Midcap 100 | 56,959 | -0.7 | -0.4 |
| Nifty Smallcap 100 | 17,621 | -0.7 | -6.1 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -106 | -223,895 |
| DII | 2233 | 524,193 |
Stocks to watch
Positive Read through
- Bharat Forge – Agreement with Andhra Infra Agency to buy 950 acres land for manufacturing.
- HCLTech – Partners with SailPoint to provide modern identity security solutions.
- HDFC Life – Sees less than 0.5 pct impact on embedded value, reforms to spur demand.
- Zydus Life – Exclusive licensing and supply agreement with Synthon for ozanimod capsules for the US market.
- ICICI Pru – Expects impact of approximately 1 pct on embedded value from GST reforms.
- Global Health – Assam Development Corp allots 3.5 acres land on payment of application money.
- SBI Life – Sees minimal impact of less than 0.2 pct on embedded value from GST reforms.
- Aptus Value – East Bridge Cap, Societe Generale buyers in yesterday’s block deal.
- Sammaan Cap – Appoints Himanshu Mody as deputy CEO.
- Shree Digvijay – Promoter to sell 50.1 pct stake to IRF for Rs 6.31 bn.
Negative Read through
- Biocon – US FDA issues form 483 with 5 observations for arm’s unit in Bangalore.
- Indian Hotels – detected a malware incident affecting select IT systems.
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