Market Commentary
Global markets – US indices closed Mixed on Wednesday after Fed meeting. Dow Jones closed up by 0.6 pct. While Nasdaq closed red 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,018 | 0.6 | 8.2 |
| Nasdaq | 22,216 | -0.5 | 15.0 |
| Hang Seng | 26,857 | -0.2 | 33.9 |
| Nikkei | 45,359 | 1.3 | 13.7 |
Commodities – Gold prices remain steady and currently stood at USD 3,661 over rising dollar. On the other hand, oil prices stood at USD 67.83/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,661 | 0.1 |
| Silver ($) | 41.55 | -0.2 |
| Brent Crude ($) | 67.83 | -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 trading positive by 0.3 pct.
Indian Indices – India’s equity benchmarks are likely to open higher as GIFT Nifty indicates. Benchmark Indices closed higher on Wednesday driven by broad based gain ahead of Fed Meeting.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,693 | 0.4 | 5.8 |
| Nifty | 25,330 | 0.4 | 7.1 |
| Nifty Bank | 55,493 | 0.6 | 9.1 |
| Nifty Midcap 100 | 58,848 | 0.1 | 2.9 |
| Nifty Smallcap 100 | 18,423 | 0.7 | -1.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1124 | -230,863 |
| DII | 2293 | 545,463 |
Stocks to watch
Positive Read through
- Cochin shipyard – Bags Rs 2 bn contract from ONGC for jack-up rig repairs.
- Aurobindo pharma – Sets up subsidiary in Malaysia to expand business.
- Moil – Exports first shipment of 54,600 tonnes of manganese ore as STE to Indonesia.
- Mirza International – I-T dept search has ended peacefully across locations, teams have left.
- Federal bank – Sells 166.2 mn shares in Yes Bank to SMBC at Rs 21.50/sh.
- Tvs motor – Launches King Deluxe Plus CNG 3-wheeler in Tanzania.
- Waaree energies – To sell 6.1 mn shares (15 pct equity) of Indosolar, floor price at Rs 500/sh.
- Bandhan bank – Sells 154 mn shares in Yes Bank to SMBC at Rs 21.50/sh, holding reduced to 0.21 pct.
- Go Digit – Crisil upgrades corporate credit rating to AA- from A+, outlook stable.
- Escorts – Launches PRO588i-G, a new combine harvester under Kubota brand.
- Biocon – Gets US FDA nod for Denosumab biosimilars.
- Havells – Gets allotment of land at Alwar for capex from RIICO.
Negative Read through
- Indosolar – Promoter to sell up to 61 lk shares (15 pct eq) via OFS, floor price at Rs 500/sh.
- Vikram solar – Promoters re-pledge shares for loan taken by company.
- Cohance – Advent Intl likely to sell up to 5.1 pct eq via block deal, offer price at 7 pct discount to CMP.
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