Market Commentary
Global markets – US indices closed higher on Thursday as producer prices rebound missed expectations. Dow Jones closed green by 0.2 pct. While Nasdaq closed positive by 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,967 | 0.2 | 1.0 |
| Nasdaq | 19,662 | 0.2 | 1.8 |
| Hang Seng | 23,799 | -1.0 | 18.6 |
| Nikkei | 37,665 | -1.3 | -5.6 |
Commodities – Gold prices rose and currently trading at USD 3,436 over escalating Israel – Iran war. On the other hand, oil prices shot up at USD 75.72/bbl as Israel strikes Iran.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,436 | 1.5 |
| Silver ($) | 36.33 | 0.0 |
| Brent Crude ($) | 75.72 | 7.7 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,253 | 54,436 |
| 100 DMA | 23,652 | 51,842 |
| 200 DMA | 24,083 | 51,755 |
Asian markets – Asian markets trading lower in the early morning trade over escalating war. Hang Seng slipped by 1 pct. While Nikkei trading lower by 1.3 pct.
Indian Indices – India’s equity benchmarks are likely to open gap down as GIFT Nifty indicates. Benchmark indices tumbled on Thursday triggered by Middle East tension and renewed global uncertainty over the US-China trade deal.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,691 | -1.0 | 4.5 |
| Nifty | 24,888 | -1.0 | 5.3 |
| Nifty Bank | 56,082 | -0.7 | 10.3 |
| Nifty Midcap 100 | 58,440 | -1.6 | 2.2 |
| Nifty Smallcap 100 | 18,465 | -1.8 | -1.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3831 | -133,398 |
| DII | 9393 | 326,009 |
Stocks to watch
Positive Read through
- NTPC – Completes trial operation of 660 MW unit at Barh project.
- Crompton Greaves – Received LoA of Rs 1.01 bn for commissioning of 4500 off-grid solar project.
- Sasken Tech – Partners with Microsoft to Accelerate Smart Device Innovation via Microsoft Devices Ecosystem Platform.
- CSB Bank – Received RBI approval for reappointment of Pralay Mondal as MD and CEO.
- Torrent Power – Secured 2 LoA of Rs. 26.5 bn from SECI.
- Talbros Auto – Company and JVs secure Rs 5.80 bn multi-year orders, boosting EV and export growth..
- Oil Upstream Companies – Crude prices have jumped 7 pct following Israel attacks on Iran.
- HCL Tech – Volvo Cars has chosen company as one of its strategic suppliers for engineering services.
- NBCC – Won order worth Rs 5.18 bn.
- Dixon Tech – Signs JV agreement with Signify to set up a JV for lighting products OEM.
- Yes Bank – Gets RBI nod to extend tenure of MD & CEO Prashant Kumar by 6 months.
- DCM Shriram – To acquire 100 pct stake of Guj-based Hindustan Specialty Chem for Rs. 3.75 mn.
Negative Read through
- OMCs/Paint Cos – Oil prices surged 7 pct after Israel airstrike on Iran, Brent above USD 76/bbl.
- Universal Cables – EU to impose CVD of 8.3 pct on import of single mode optical fibre cables.
- Jubilant Ingrevia – Promoter likely to sell up to 12 mn share via block deals, Floor price at 8.5 pct discount to CMP.
- Jubilant Food – Promoter likely to sell up to 13 mn shares via block deals, floor price at 4 pct discount to CMP.
- Jubilant Pharmova – Promoter likely to sell up to 0.56 mn shares via block deals, floor price at 11 pct discount to CMP.
- Genus Power – GIC likely to sell up to 5.88 pct equity via block deals, FP at 6.5 pct discount to CMP.
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