Market Commentary
Global markets – US indices closed higher on Monday as Iran attacked US air base in Qatar. Dow Jones closed higher by 0.9 pct. While Nasdaq surged by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,582 | 0.9 | 0.1 |
| Nasdaq | 19,631 | 0.9 | 1.7 |
| Hang Seng | 23,033 | 2.8 | 19.8 |
| Nikkei | 38,747 | 1.3 | -2.9 |
Commodities – Gold prices dipped and currently trading at USD 3,347 after ceasefire agreement in Middle East conflict. Oil prices dipped and stood at USD 69.79/bbl as Trump announced Israel-Iran ceasefire.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,347 | -0.5 |
| Silver ($) | 36.04 | 0.1 |
| Brent Crude ($) | 69.79 | -11.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,520 | 55,112 |
| 100 DMA | 23,745 | 52,338 |
| 200 DMA | 24,076 | 51,918 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading higher by 2.8 pct. While Nikkei trading higher by 1.3 pct.
Indian Indices – India’s equity benchmarks are likely to start higher as GIFT Nifty indicates. Benchmark indices closed in red on Monday after US attacked Iranian nuclear facilities.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,897 | -0.6 | 4.8 |
| Nifty | 24,972 | -0.6 | 5.6 |
| Nifty Bank | 56,059 | -0.3 | 10.2 |
| Nifty Midcap 100 | 58,207 | 0.4 | 1.8 |
| Nifty Smallcap 100 | 18,321 | 0.7 | -2.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1,977 | -127,613 |
| DII | 3,229 | 343,209 |
Stocks to watch
Positive Read through
- OMCs/Paint Cos – Oil price saw biggest single-day drop since March 2022, Brent below USD 70/bbl.
- IOC/Reliance – Govt. imposed ADD on linear alkyl benzene imports from Iran, Qatar for 5 years.
- SBI Cards – May YoY growth stood above industry levels; market share gained in spends.
- TVS Motor – Launched HLX 150 5G in the Republic of Congo.
- Metro Brands – Signed distribution agreement with Clarks for India and neighbouring countries.
- Allcargo Logistics – LCL volume rose 3 pct while FCL volume remained flat MoM.
- Garware Tech – Arm agreed to buy 2 advanced wire rope makers in Norway for Rs. 1,110 mn
- HG Infra – Declared lowest bidder for a project for Rs. 1,180 mn.
- Devyani – To acquire an additional 6 pct stake in Sky Gate Hospitality for Rs. 1,060 mn.
- Lemon Tree – Signed a new property in Punjab with 47 rooms.
Negative Read through
- ONGC/Oil – Oil price saw biggest single-day drop since March 2022; Brent fell below USD 70/bbl.
- Dixon Tech – Promoter sold 2.77 pct stake via block deals, Motilal Oswal MF was the buyer.
- KPIT Tech – Demand trends in US and Asia were bit uncertain, deal conversion slower than estimated.
- Marathon Next – Raise Rs. 9,000 mn via QIP, floor price at 12 pct discount to CMP.
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