Market Commentary
Global markets – US indices closed higher on Tuesday ahead of Nvidia earnings. Dow Jones closed up by 0.3 pct. While Nasdaq closed green by 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 45,565 | 0.3 | 7.1 |
| Nasdaq | 21,590 | 0.2 | 11.8 |
| Hang Seng | 25,030 | -0.7 | 24.8 |
| Nikkei | 42,731 | 0.5 | 7.1 |
Commodities – Gold prices fell and currently stood at USD 3,391 ahead of US PCE data. On the other hand, oil prices stood at USD 67.04/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,391 | -0.2 |
| Silver ($) | 38.73 | 0.5 |
| Brent Crude ($) | 67.04 | -0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,013 | 56,244 |
| 100 DMA | 24,663 | 55,432 |
| 200 DMA | 24,070 | 52,888 |
Asian markets – Asian markets trading mixed in the early morning trade, Hang Seng trading down by 0.7 pct. While Nikkei trading positive by 1.1 pct.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices tumbled on Tuesday driven pressured by additional 25 pct tariff on all Indian-origin goods.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,786 | -1.0 | 3.4 |
| Nifty | 24,712 | -1.0 | 4.5 |
| Nifty Bank | 54,450 | -1.2 | 7.1 |
| Nifty Midcap 100 | 56,766 | -1.6 | -0.8 |
| Nifty Smallcap 100 | 17,548 | -2.0 | -6.5 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -6516 | -207,364 |
| DII | 7060 | 494,162 |
Stocks to watch
Positive Read through
- TCS – Announces formation of a new AI and services transformation unit.
- United Breweries – To increase capacity at existing brewery in Telangana with an investment of Rs. 900 mn.
- Samhi – Signed agreement to lease 260-room mid-scale hotel in Hyderabad’s financial district.
- HFCL – Bags order worth Rs. 1.02 bn from Indian Army for supply of optical fiber cable.
- HAL – India may ink USD 1 bn fighter jet engine deal with US firm GE next month.
- Tata steel – Invests Rs. 30 bn in Singapore holding company.
- Biocon – Arm gets tentative US FDA nod for sitagliptin tablets.
- Escorts – Launches tractor ‘Kubota MU4201’ in 41-44 hp category market in India.
- Newgen – Bags Rs. 730 mn contract for scanning and digitising judicial records for a state court.
- Zaggle – Signed agreement with Standard Chartered Bank for prepaid payment instruments.
- RVNL – Signs 51:49 JV agreement with Texmaco Rail to undertake railway infra projects.
- Power grid – Declared successful bidder for a transmission project in Karnataka.
- OIL – Executes JV agreement with BPCL for city gas distribution in Arunachal Pradesh.
- AB Capital – Arm gets nod to operate as a payment aggregator.
Negative Read through
- ICICI Lombard/New India – Heavy rains and floods wreak havoc across J&K & North.
- IndiGo – Gangwal, Chinkerpoo Family Trust likely to sell 3.1 pct of equity, floor price at 4 pct discount to CMP.
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