Market Commentary
Global markets – US indices closed higher on Thursday amid mixed earnings. However, tech giants lifted market. Dow Jones closed green by 0.3 pct. While Nasdaq closed positive by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,734 | 0.3 | 9.8 |
| Nasdaq | 22,941 | 0.9 | 18.8 |
| Hang Seng | 26,047 | 0.5 | 30.1 |
| Nikkei | 49,299 | 1.7 | 23.6 |
Commodities – Gold prices fell and currently stood at USD 4,115 due to unwinding of long position. On the other hand, oil prices stood at USD 65.59/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,115 | -0.2 |
| Silver ($) | 48.62 | -0.4 |
| Brent Crude ($) | 65.59 | -0.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,010 | 55,419 |
| 100 DMA | 25,018 | 55,913 |
| 200 DMA | 24,260 | 53,574 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading up by 0.5 pct. While Nikkei trading positive by 1.7 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices closed higher on Thursday on US trade deal hopes and recovery in corporate earnings.
Results Today – Coforge, ITC Hotel, SBI Cards
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 84,556 | 0.2 | 8.2 |
| Nifty | 25,891 | 0.1 | 9.5 |
| Nifty Bank | 58,078 | 0.1 | 14.2 |
| Nifty Midcap 100 | 59,731 | 0.5 | 4.4 |
| Nifty Smallcap 100 | 18,291 | -0.0 | -2.5 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1165 | -255,700 |
| DII | 3893 | 611,731 |
Stocks to watch
Positive Read through
- NTPC Green – 9.9 MW wind capacity in Bhuj, Gujarat declared operational.
- Laurus Labs – Expects gross margin around 60 pct vs earlier range of 50-55 pct.
- Aluminium stocks – International aluminium price hits 52-week high, crossed USD 2,870/tonne.
- Hero Moto – Partners MotoGB to bring its premium motorcycles to the UK.
- Cipla – Signs agreement with Eli Lilly to sell its weight-loss drug in India.
- Defence stocks – Defence Acquisition Council clears procurement proposals of Rs. 790 bn.
- AGI Infra – Approves fund raising up to Rs. 5 bn via equity issuance or other modes.
- Kaynes Tech – Arm Kaynes Holding to buy 7 pct stake in Sensonic GmbH.
- Syrma SGS – Partners Premier Energies to acquire K Solare for Rs. 1.70 bn.
- Federal Bank – Board to consider fund raising today.
- ONGC, Oil India – Crude prices move higher, Brent at USD 66/bbl.
Negative Read through
- OMC’s – Crude prices move higher, Brent at USD 66/bbl.
- Colgate – Results in line with muted expectations, expects gradual recovery in H2.
- Sagar Cements – Weak Q2 due to shutdown cost and higher employee cost.
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