Market Commentary
Global markets – US indices closed mixed on Tuesday as Powell cites tariffs for unchanged rates. Dow Jones rose by 0.9 pct. While Nasdaq tumbled 0.8 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,494 | 0.9 | 4.6 |
| Nasdaq | 20,202 | -0.8 | 4.6 |
| Hang Seng | 24,227 | 0.6 | 20.8 |
| Nikkei | 39,593 | -1.0 | -0.8 |
Commodities – Gold prices fell and currently stood at USD 3,337 over easing geopolitical risk. On the other hand, oil prices stood at USD 67.14/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,337 | -0.0 |
| Silver ($) | 36.18 | 0.4 |
| Brent Crude ($) | 67.14 | 0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,771 | 55,635 |
| 100 DMA | 23,878 | 52,817 |
| 200 DMA | 24,086 | 52,092 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading up by 0.6 pct. While Nikkei trading lower by 1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed flat on Tuesday as Heavyweight stocks offset losses in financials stocks.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 83,697 | 0.1 | 7.1 |
| Nifty | 25,541 | 0.1 | 8.0 |
| Nifty Bank | 57,419 | 0.3 | 13.0 |
| Nifty Midcap 100 | 59,750 | 0.0 | 4.5 |
| Nifty Smallcap 100 | 19,055 | -0.1 | 1.5 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1970 | -124,303 |
| DII | 771 | 358,345 |
Stocks to watch
Positive Read through
- Hero Moto – Posted June sales better than expectations, up 10 pct YoY vs estimate of 6 pct rise.
- JSW Energy – Bags 250 MW battery energy storage project from Rajasthan RVUNL.
- Lloyds Metals – Q1 DRI production grew 3 pct YoY at 79,033 tonnes.
- OMCs – Finance ministry releasing compensation for LPG losses of OMCs’, as per reports.
- Zaggle – Agreement with DTDC Express for its employee expense management propositions.
- Hyundai – June sales largely in-line with estimates, total sales fell 6 pct vs estimate of 8 pct fall.
- MOIL – Price of ore with manganese content of mn-44 pct & above increased by 2 pct.
- Lupin – US FDA nod with 180-day exclusivity for Lotemax bioequivalent, a USD 29 mn drug market.
- RITES – Bags orders worth Rs. 686 mn from an African rail company & Southern Railway.
Negative Read through
- Asian Paints – CCI orders investigation, Birla Opus alleges abuse of dominant position.
- Dreamfolks – Certain programmes for Axis & ICICI banks have been closed, will have material effect.
- Maruti – June sales miss estimates, entry segment sales down 18 pct YoY.
- Vmart – Q1 sales rose 13 pct, same-store-sales growth up 1 pct YoY.
- NMDC – June sales fell 4 pct at 3.58 MT vs 3.73 MT YoY.
- South Indian Bank – Gross advances grew 1.85 pct, deposits rose 5 pct QoQ.
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