Market Commentary
Global markets – US indices closed positive on Monday ahead Fed meeting. Dow Jones closed up by 0.1 pct. While Nasdaq closed green 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 45,883 | 0.1 | 7.8 |
| Nasdaq | 22,348 | 0.9 | 15.7 |
| Hang Seng | 26,381 | -0.2 | 31.5 |
| Nikkei | 44,904 | 0.3 | 12.6 |
Commodities – Gold prices remain steady and currently stood at USD 3,678 over easing dollar and yields. On the other hand, oil prices stood at USD 67.57/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,678 | -0.1 |
| Silver ($) | 42.40 | -0.6 |
| Brent Crude ($) | 67.57 | 0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,897 | 55,624 |
| 100 DMA | 24,858 | 55,658 |
| 200 DMA | 24,128 | 53,082 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.2 pct. While Nikkei closed positive by 0.3 pct.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices closed lower on Monday dragged by IT stocks ahead of Fed interest rate decision.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,785 | -0.1 | 4.7 |
| Nifty | 25,069 | -0.2 | 6.0 |
| Nifty Bank | 54,887 | 0.1 | 7.9 |
| Nifty Midcap 100 | 58,486 | 0.4 | 2.3 |
| Nifty Smallcap 100 | 18,127 | 0.8 | -3.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1268 | -230,047 |
| DII | 1933 | 541,651 |
Stocks to watch
Positive Read through
- Transrail – Bags new orders worth Rs. 4.2 bn, including from new country in Africa.
- Lloyds Engg – Agreement with Brazil-based CEMI to represent it in Indian market.
- Canara – SEBI issues final observations on Canara HSBC Life IPO, Canara Robeco AMC IPO nod.
- Bajaj Finserv – Bajaj Allianz General Insurance wins Rs.3.7 bn dispute against Maharashtra government.
- Zydus – Arm launches canine urinary incontinence treatment, long-term heart care drug for dogs.
- Maruti Suzuki – Announces introductory prices for VICTORIS, starting at Rs. 1.05 mn.
- Thyrocare – Holdco to redeem debentures by issuing fresh ones, will lower pledge to 61 pct.
- Allcargo Logistics – August terminals’ CFS volumes up 6 pct YoY and rose 9 pct MoM.
- Wipro – Partners with CrowdStrike to deliver AI-powered unified security services.
- GE Shipping – To sell its 2005 built Suezmax crude tanker Jag Lok.
- IRCON – 100 MW of renewable capacity of 500 MW JV launched, total capacity at 400 MW.
- NLC – Awarded international project management association delta certification – level 3 (standardised).
- NCC – Bags project worth Rs. 20.9 bn from Water Resource Department, Bihar.
- Adani Ent – Gets LoA for ropeway project between Sonprayag and Kedarnath, investment at Rs. 41 bn.
Negative Read through
- Red Tape – Income Tax department carried out search proceedings at some locations.
- IndusInd – Charu Sachdeva Mathur, head digital banking and strategy has resigned.
- LIC – Gets GST Demand, Penalty order of Rs. 1.85 bn for FY21-22.
- Asahi India – Launches QIP, likely to raise up to Rs. 10 bn, Floor price at 5.4 pct discount to CMP.
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