Market Commentary
Global markets – US indices closed slightly higher on Monday amid US – China trade talks. Dow Jones closed flat. While Nasdaq closed green by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,271 | -0.0 | 0.5 |
| Nasdaq | 19,591 | 0.3 | 0.5 |
| Hang Seng | 24,212 | 0.1 | 20.7 |
| Nikkei | 38,473 | 1.0 | -3.6 |
Commodities – Gold prices fell and currently trading at USD 3,308 over US-China talks. On the other hand, oil prices stood at USD 67.33/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,308 | -0.5 |
| Silver ($) | 36.49 | -0.6 |
| Brent Crude ($) | 67.33 | 0.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,166 | 54,143 |
| 100 DMA | 23,569 | 51,606 |
| 200 DMA | 24,078 | 51,672 |
Asian markets – Asian markets trading positive in the early morning trade. Hang Seng rose by 0.1 pct. While Nikkei trading higher by 1 pct.
Indian Indices – India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark indices extended gains on Monday as driven positive global cues and supportive domestic monetary policy actions.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,445 | 0.3 | 5.5 |
| Nifty | 25,103 | 0.4 | 6.2 |
| Nifty Bank | 56,839 | 0.5 | 11.8 |
| Nifty Midcap 100 | 59,674 | 1.1 | 4.3 |
| Nifty Smallcap 100 | 18,873 | 1.6 | 0.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1992 | -131,422 |
| DII | 3503 | 313,917 |
Stocks to watch
Positive Read through
- Protean eGov – Bags Bima Sugam 72-month contract of Rs. 1 bn.
- Jana SFB – Applies to RBI seeking approval for voluntary transition to a universal bank.
- Tata power – Solar manufacturing arm crosses 4 GW of solar module production at Tamil Nadu unit.
- Rites – Gets LoA for a project worth USD 2.9 m from Republic of Guyana.
- IRB Infra – May toll collections up 8.5 pct at Rs. 5.81 bn vs Rs. 5.35 bn YoY.
- Zee Ent – To partner with content start-up Bullet to launch India’s first micro-drama app.
- ITD Cementation – Bags contract worth Rs. 8.93 bn for development of captive jetty(s) in Odisha.
- Jindal saw – To incorporate arm, enter into JVs in UAE, Saudi for pipe manufacturing project, invest at USD 118 mn.
- NIBE – Secures tech transfer license from DRDO for modular bridging system for 10 yrs.
- PNC Infratech – Bags Rs 2.39 bn crore flyover project in Rajasthan from PWD.
- Wipro – Strengthens Middle East Presence with new Regional Headquarters in Riyadh.
Negative Read through
- Premier Energies – South Asia Growth Fund to likely sell 25 mn shares via block deal, floor price Rs. 1051.
- Capri Global – QIP Launched, to raise up to Rs. 20 bn, indicative issue price Rs. 146.5/share.
- Vishnu Prakash – Care downgrades ratings on loans worth of Rs. 9.6 bn.
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