Market Commentary
Global markets – US indices closed Positive on Friday in the wake of a largely as-expected PCE report. Dow Jones closed up by 0.7 pct. While Nasdaq closed green by 0.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,247 | 0.7 | 8.7 |
| Nasdaq | 22,484 | 0.4 | 16.4 |
| Hang Seng | 26,461 | 1.3 | 31.9 |
| Nikkei | 44,892 | -1.0 | 12.5 |
Commodities – Gold prices rose and currently stood at USD 3,797 led by weaker dollar. On the other hand, oil prices stood at USD 68.88/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,797 | 1.0 |
| Silver ($) | 46.57 | 1.2 |
| Brent Crude ($) | 68.88 | 0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,865 | 55,305 |
| 100 DMA | 24,932 | 55,682 |
| 200 DMA | 24,162 | 53,193 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading up by 1.3 pct. While Nikkei trading negative by 1 pct.
Indian Indices – India’s equity benchmarks are likely to open green as GIFT Nifty indicates. Benchmark Indices continued losses on Fridays pressured by pharma stocks over 100 pct US tariffs.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,426 | -0.9 | 2.9 |
| Nifty | 24,654 | -0.9 | 4.3 |
| Nifty Bank | 54,389 | -1.1 | 6.9 |
| Nifty Midcap 100 | 56,378 | -2.0 | -1.4 |
| Nifty Smallcap 100 | 17,560 | -2.3 | -6.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -5687 | -249,676 |
| DII | 5843 | 568,306 |
Stocks to watch
Positive Read through
- Tata Motors – British government to back JLR with POUND 1.5 bn loan.
- Godrej Agrovet – Signs non-binding MoU with government for Rs. 9.60 bn investment.
- Lupin – Arm to buy eye health player VISUFarma for EURO 190 mn.
- PG Electro – Arm acquires 50 acres land in Sri City for Rs. 10 bn capex.
- Vascon Eng – Signs MoU for 5-year partnership with Adani Infra to boost revenue by 30 pct annually.
- Waaree Energies – To acquire 75 pct stake in Racomosa Energy for Rs. 530 mn.
- Lupin – Arm to buy eye health player VISUFarma for EURO 190 mn.
- BEML – Tripartite agreement with Bharat Forge & Data Patterns to bid for EoI by ADA.
- Azad Engg – Bags Rs. 6.51 bn supply contract from Mitsubishi Heavy.
- Deepak Nitrite – Commissioned Rs. 1.15 bn hydrogenation plant.
- Oil India – Reports occurrence of natural gas in Andaman shallow offshore block.
- Zaggle – Referral partnership agreement with IDFC First Bank.
- IRFC – Inks 3 loan agreements worth Rs. 200 bn.
Negative Read through
- HUL – Expects consumer business growth to be flat-to-low single digit in Q2 update.
- Godawari Power – Six dead and six others injured in an accident at Siltara unit.
- VIP Industries – Promoters offload 6.2 pct stake at an average of Rs. 388.2/share via block deals.
- HDFC Bank – Dubai branch barred from onboarding new clients until further notice.
- Capacite Infra – I-T department conducting survey action at company’s office.
- PTC India – 3 independent directors resign citing governance concerns.
- Hikal – Potential delay in revenue due to US FDA warning letter.
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