Market Commentary
Global markets – US indices closed mixed on Wednesday as Fed hints at tariff driven inflation outlook. Dow Jones fell by 0.2 pct. While Nasdaq closed higher by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,982 | -0.2 | 1.0 |
| Nasdaq | 19,973 | 0.3 | 3.4 |
| Hang Seng | 24,402 | -0.3 | 21.7 |
| Nikkei | 39,349 | 1.0 | -1.4 |
Commodities – Gold prices trading up and currently stood at USD 3,342 due to softer Dollar. On the other hand, oil prices stood at USD 67.84/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,342 | 0.3 |
| Silver ($) | 36.36 | 0.4 |
| Brent Crude ($) | 67.84 | 0.4 |
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,622 | 55,349 |
| 100 DMA | 23,790 | 52,499 |
| 200 DMA | 24,075 | 51,968 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.3 pct. While Nikkei trading positive by 1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed higher on Wednesday over easing Ceasefire between Israel and Iran.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,775 | 0.9 | 5.9 |
| Nifty | 25,245 | 0.8 | 6.8 |
| Nifty Bank | 56,621 | 0.3 | 11.3 |
| Nifty Midcap 100 | 58,882 | 0.4 | 2.9 |
| Nifty Smallcap 100 | 18,728 | 1.5 | -0.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2427 | -135,292 |
| DII | 2372 | 354,660 |
Stocks to watch
Positive Read through
- Texmaco Rail – Bags order worth USD 62.24 mn (~Rs. 5.35 bn) from Camalco SA, Cameroon.
- Dilip Buildcon – Provisionally completes Rs. 10.60 bn HAM project.
- SMS Pharma – US FDA issues zero observations for Hyderabad-based central laboratory.
- Lloyds Metals – Gets environmental clearance for expansion of mining capacity to 55 MTPA.
- Balaji Amines – Receives consent to manufacture isopropylamine (MIPA/DIPA).
- JSW Energy – Power purchase agreement with NHPC for 300 MW solar-wind capacity.
- Can Fin – Board approves fund raise of up to Rs. 10 bn via QIP or other means.
- Au SFB – To consider fund raising on June 28.
- Western Carriers – Bags Rs. 5.58 bn logistics contract from Jindal Stainless.
- Tata Steel – Infuses USD 180 mn in T Steel Holdings as part of USD 2.5 bn investment plan.
Negative Read through
- Easy Trip – Rollin’s withdraw from 30 pct stake sell transaction worth of Rs. 600 mn with company.
- Mobikwik – Net 1 applied Tech likely to sell 8 pct via block deals, floor price at 0 – 8.4 pct discount to CMP.
- PB Fin – Co-founders likely to sell 1.1 pct equity via block deals, base price at 0 – 2.2 pct discount to CMP.
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