Market Commentary
Global markets – US indices closed positive on Thursday as Trump may extend tariff suspension. Dow Jones rose by 0.9 pct. While Nasdaq jumped 1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 43,386 | 0.9 | 2.0 |
| Nasdaq | 20,167 | 1.0 | 4.4 |
| Hang Seng | 24,406 | 0.3 | 21.7 |
| Nikkei | 40,215 | 1.6 | 0.8 |
Commodities – Gold prices trading down and currently stood at USD 3,305 despite softer Dollar. On the other hand, oil prices stood at USD 67.91/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,305 | -0.6 |
| Silver ($) | 36.60 | 0.0 |
| Brent Crude ($) | 67.91 | 0.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,665 | 55,445 |
| 100 DMA | 23,813 | 52,579 |
| 200 DMA | 24,077 | 51,996 |
Asian markets – Asian markets trading higher in the early morning trade, largely tracking western peers. Hang Seng trading up by 0.3 pct. While Nikkei trading positive by 1.6 pct.
Indian Indices – India’s equity benchmarks are likely to open positive as GIFT Nifty indicates. Benchmark indices extended gains on Thursday on softer dollar and gain in heavyweight stocks and sectors.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 83,755 | 1.2 | 7.2 |
| Nifty | 25,549 | 1.2 | 8.1 |
| Nifty Bank | 57,206 | 1.0 | 12.5 |
| Nifty Midcap 100 | 59,227 | 0.6 | 3.5 |
| Nifty Smallcap 100 | 18,805 | 0.4 | 0.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -195 | -135,488 |
| DII | 12594 | 367,254 |
Stocks to watch
Positive Read through
- Tata Power – Applies for distribution licence in 4 areas in Maharashtra.
- Hitachi Energy – Bags order to supply 30 units of 765 kV transformers from Power Grid Corp.
- Ultratech – Commissions 1.8 MTPA cement grinding capacity at Maihar, MP.
- Power Mech – To set up grid-connected solar power with PPA in Bihar for 25-year sales of Rs. 1.59 bn.
- Mahindra Life – Bags redevelopment project of St. Pius Ten CHS, Mulund, GDV at Rs. 12.5 bn.
- Hindustan Copper – In tripartite agreement with Alankit Assignments and CB Management Services.
- Associated Alcohols – Company launched premium whisky Hillfort in Uttar Pradesh.
- Premier Energies – Commissioned a new 1.2 GW TOPCon solar cell manufacturing line in Hyderabad.
- NTPC – Announced commercial operation of unit 3 at barh super thermal power project.
- JK Paper – l-T commissioner disposes appeal of Rs 656 mn for AY21, grants relief to the company.
Negative Read through
- Digitide Solns – Q4 EBITDA down 26%, margin declines 390 bps YoY.
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