Market Commentary
Global markets – US indices closed higher on Monday amid US – China trade talks stretch over second day. Dow Jones closed green 0.3 pct. While Nasdaq closed positive by 0.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,886 | 0.3 | 0.8 |
| Nasdaq | 19,714 | 0.6 | 2.1 |
| Hang Seng | 24,323 | 0.7 | 21.3 |
| Nikkei | 38,385 | 0.5 | -3.8 |
Commodities – Gold prices climbed and currently trading at USD 3,338. On the other hand, oil prices stood at USD 66.68/bbl on higher inventory outlook.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,338 | 0.5 |
| Silver ($) | 36.56 | 0.1 |
| Brent Crude ($) | 66.68 | 0.2 |
| 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 0.7 pct. While Nikkei trading higher by 0.5 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed flat on Tuesday as profit booking offsets policy optimism.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,392 | -0.1 | 5.4 |
| Nifty | 25,104 | 0.0 | 6.2 |
| Nifty Bank | 56,629 | -0.4 | 11.3 |
| Nifty Midcap 100 | 59,681 | 0.0 | 4.3 |
| Nifty Smallcap 100 | 18,900 | 0.1 | 0.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 2301 | -129,121 |
| DII | 1113 | 315,030 |
Stocks to watch
Positive Read through
- NTPC – Govt to give an additional viability gap funding of Rs. 54 bn to set up 30 GWh BESS.
- Kolte Patil – Blackstone’s majority stake acquisition via share subscription agreement gets CCI nod.
- HCLTech – Expands partnership with the Standard Insurance for AI-led transformation.
- Wipro – Food wholesaler Metro AG extends partnership with company for an additional 2 years.
- Ril Infra – Reliance Defence & Diehl Defence strengthen strategic partnership.
- Interarch – Bags approx Rs. 450 mn order from an auto OEM.
- Max Fin – Appoints Sumit Madan as MD & CEO of Axis Max Life Insurance for 5 yrs w.e.f. Oct 1.
- Marksans Ph – OrbiMed Asia likely to sell up to 2.27 pct stake via block deals, floor price Rs. 249.95/sh.
- Popular Vehicle – Gets LoI from Maruti to set up outlet for pre-owned vehicles in Bengaluru.
- Kaynes Tech – Semicon arm to buy production lines for power modules from Fujitsu for Rs. 940 mn.
- Credit Access – Gets USD 100 mn multi-currency syndicated social loan facility.
- Inox Wind – NCLT approves merger between Inox Wind Energy & Inox Wind.
- Texmaco Rail – bags ₹44 cr order from Mumbai Railway Vikas Corporation.
- Voda Idea – Launches 5G services in Bengaluru.
Negative Read through
- Radico/Usl – Maharashtra Government hikes duty on Indian made foreign liquor by 50-60 pct.
- Tata Comm – Rs. 280 bn data sales target now pushed to FY28 from FY27 earlier.
- Maruti – Evitara launch likely to be delayed, output targets till September cut as well.
- AB Cap – Advent Intl likely to sell up to 1.40 pct stake via block deals, floor price at 2 pct discount to CMP.
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 Adviser 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.
