Market Commentary
Global markets – US indices closed negative on Friday after jobs report amplifies concerns for economy. Dow Jones closed down by 0.5 pct. While Nasdaq closed flat.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 45,400 | -0.5 | 6.7 |
| Nasdaq | 21,700 | -0.0 | 12.4 |
| Hang Seng | 25,481 | 0.3 | 27.0 |
| Nikkei | 43,630 | 1.4 | 9.4 |
Commodities – Gold prices rose and currently stood at USD 3,590 following weak US jobs report. On the other hand, oil prices stood at USD 66.29/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,590 | 0.1 |
| Silver ($) | 40.66 | -0.7 |
| Brent Crude ($) | 66.29 | 0.9 |
| 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 0.3 pct. While Nikkei trading positive by 1.4 pct.
Indian Indices – India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark Indices closed flat on Friday as decline in information technology shares offset broader advances.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,710 | 0.0 | 3.3 |
| Nifty | 24,741 | 0.0 | 4.6 |
| Nifty Bank | 54,114 | 0.1 | 6.4 |
| Nifty Midcap 100 | 57,075 | 0.2 | -0.2 |
| Nifty Smallcap 100 | 17,655 | 0.2 | -5.9 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1304 | -225,200 |
| DII | 1821 | 526,014 |
Stocks to watch
Positive Read through
- Amber Ent – Electronics division secures Rs. 12 bn funding from investors.
- Brigade Ent – Signs joint development agreement for residential project in East Bengaluru, GDV at Rs. 25 bn.
- Auto Companies – Tata Motors, Hyundai, and M&M announce price cuts after GST reduction.
- Time Techno – To enter flexible Indian packaging business with 74 pct acquisition in EPPL at EV of Rs. 2 bn.
- Vikram Solar – Bags 336 MW module supply order from L&T for Khavda solar project.
- Aegis – Adds 61,000 KL capacity at Mumbai port for Rs. 1 bn.
- BHEL – Signs 10-year MoU with Horizon Fuel Cell Tech for hydrogen fuel cell-based rolling stock.
- Samvardhana Motherson – Sets gross sales target of USD 108 bn by FY30 Vs USD 25.7 bn in FY25.
- NTPC Green – To set up hydrogen fuelling stations and H2 ICE trucks for VOC port.
- CEIGALL – Gets LoIs for 190 MW and 147 MW solar power procurement from MSEDCL.
- SPML Infra – JV with JWIL Infra bags Rs. 14.38 bn order to transform water access in Rajasthan.
- Kaynes Tech – Integrates core team behind Mustard Smartglasses.
- Max EST – Secures development rights on 7.25-acre land parcel in Gurugram, GDV at Rs. 30 bn.
- HFCL – Bags order worth Rs. 3.58 bn for supply of optical fiber cables.
Negative Read through
- SpiceJet – Reported Q1 loss versus profit YoY, sales declined 35 pct YoY.
- Aurobindo – US FDA issues Form 483 with 8 observations for manufacturing unit in Bachupally, Telangana.
- Vedanta – Likely emerged as top bidder for JP Assoc with a Rs. 170 bn.
- Zydus Life – US FDA issues 4 observations for injectable manufacturing unit at Jarod, Gujarat.
- DRL – US FDA issues 7 observations for API Mirfield facility in West Yorkshire, UK.
- Welspun Living – CFO Sanjay Gupta and Chief Digital Officer Puesh Ajmani resign.
- Lupin – US FDA pre-approval inspection of Aurangabad unit ends with 2 observations.
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