Market Commentary
Global markets – US indices closed mixed on Friday over US -Russia talks. Dow Jones closed green by 0.1 pct. While Nasdaq closed lower by 0.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,969 | 0.1 | 5.6 |
| Nasdaq | 21,622 | -0.4 | 12.0 |
| Hang Seng | 25,257 | -0.1 | 25.9 |
| Nikkei | 43,757 | 0.9 | 9.7 |
Commodities – Gold prices remain steady and currently stood at USD 3,345 over easing geopolitical tensions. On the other hand, oil prices stood at USD 65.71/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,345 | 0.2 |
| Silver ($) | 38.00 | 0.0 |
| Brent Crude ($) | 65.71 | -0.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,020 | 56,370 |
| 100 DMA | 24,562 | 55,145 |
| 200 DMA | 24,047 | 52,759 |
Asian markets – Asian markets trading mixed in the early morning trade, Hang Seng trading down by 0.1 pct. While Nikkei trading green by 0.9 pct.
Indian Indices – India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates over potential GST rate cuts. Benchmark Indices closed flat on Thursday ahead of U.S.–Russia talks on Ukraine.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,597 | 0.1 | 3.1 |
| Nifty | 24,631 | 0.0 | 4.2 |
| Nifty Bank | 55,341 | 0.3 | 8.8 |
| Nifty Midcap 100 | 56,504 | -0.3 | -1.2 |
| Nifty Smallcap 100 | 17,547 | -0.4 | -6.5 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1926 | -196,821 |
| DII | 3895 | 473,537 |
Stocks to watch
Positive Read through
- Voltas, Blue Star, Havells – GST on ACs, TVs, fridges, and washing machines may be cut to 18 pct.
- KEC International – Bags orders worth Rs. 14.02 bn across businesses.
- Autos – Sources say GST rationalisation will lead to tax cut for bikes and cars.
- Steel cos – DGTR recommends safeguard duty on imports of non-alloy and alloy steel flat products.
- Alembic Pharma – Final US FDA nod for Tretinoin cream USP, estimated market size USD 94 mn.
- Swiggy – Hikes platform fee to Rs. 14 in some pockets.
- Insurance Companies – Centre proposes GST on insurance to be reduced to 0 pct/5 pct.
- Signature – Executes 3 sale deeds to purchase 33.47-acre land in Sohna, Haryana.
- FMCG – GST rationalisation will lead to tax cut for daily-use items.
- JK Cement – Board approves capex of Rs. 48.05 bn for 7 MT cement line in Rajasthan.
- Zaggle Prepaid – EBITDA jumped 37 pct, margin at 9.2 pct vs 8.8 pct YoY.
- Borosil – EBITDA rose 14 pct, margin at 16.2 pct vs 15 pct YoY.
Negative Read through
- Textile Companies – 25 pct additional tariff likely to take effect on August 27, as per reports.
- Glenmark – Margin at 17.8 pct vs 18 pct, sales flat YoY.
- Chemical Companies – 25 pct additional tariff likely to take effect on August 27, as per reports.
- Vodafone Idea – EBITDA down 1 pct, margin at 41.8 pct vs 42.3 pct QoQ.
- Inox Wind – Margin flat, Q1FY26 execution below estimates.
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