Market Commentary
Global markets – US indices closed positive on Wednesday over FOMC’s mixed views on rate cuts. Dow Jones closed higher by 0.5 pct. While Nasdaq closed green by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,458 | 0.5 | 4.5 |
| Nasdaq | 20,611 | 0.9 | 6.7 |
| Hang Seng | 23,929 | 0.2 | 19.3 |
| Nikkei | 39,610 | -0.5 | -0.7 |
Commodities – Gold prices rose and currently stood at USD 3,318 over weaker dollar. On the other hand, oil prices stood at USD 70.14/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,318 | 0.2 |
| Silver ($) | 36.38 | 0.1 |
| Brent Crude ($) | 70.14 | 0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,918 | 55,845 |
| 100 DMA | 23,992 | 53,237 |
| 200 DMA | 24,091 | 52,197 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading up by 0.2 pct. While Nikkei trading negative by 0.5 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed lower on Wednesday amid uncertainty over U.S. tariffs.
Result Today – TCS, Tata Elxsi
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 83,536 | -0.2 | 6.9 |
| Nifty | 25,476 | -0.2 | 7.7 |
| Nifty Bank | 57,213 | -0.1 | 12.5 |
| Nifty Midcap 100 | 59,339 | -0.1 | 3.7 |
| Nifty Smallcap 100 | 19,007 | 0.6 | 1.3 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 77 | -128,003 |
| DII | 920 | 366,115 |
Stocks to watch
Positive Read through
- Amber Ent – Board meet on July 12 to consider fund raise of up to Rs 25 bn.
- Enviro Infra – JV gets Rs. 3.95 bn order from Maharashtra Industrial Development Corp.
- Emcure Ph – Ahmedabad unit clears US FDA inspection without observations.
- Oil – Gail extends gas sale & purchase agreement by 15 years with company.
- Asian Paints – Sells entire 4.42 pct stake in Akzo Nobel India for Rs. 7.34 bn at Rs. 3,651/sh.
- Niit Learning – Acquires MTS, Germany for an EV of €22.37 million.
- HCLTech – Bags 10-year order from Dunedin City Council.
- Titagarh Rail – To issue warrants to promoters at Rs. 945/sh to raise Rs. 2 bn.
- IREDA – Govt allows company to raise funds through 54EC bonds (capital gains bonds).
- Redington – Inks strategic downstream distribution agreement with AWS.
- IDBI Bank – Government intends to complete divestment by October.
- ACC – Commissions grinding unit project at Sindri plant, Jharkhand for 1.5 MTPA.
Negative Read through
- Indosolar – Promoter Waaree Energies to sell 2.4 pct stake to comply with MPS norms.
- LIC – Government gives in-principle nod for OFS, as per reports.
- Embassy REIT – Bain Cap likely to sell 1.9 pct equity via block deals, floor price at 4 pct discount to CMP.
- NCL Industries – Cement production fell 5 pct, dispatches declined 4 pct YoY.
Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Advisor before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
