Market Commentary
Global markets – US indices closed lower on Friday as Dell and NVIDIA dropped. Dow Jones closed down by 0.2 pct. While Nasdaq closed red by 1.2 pct.
Commodities – Gold prices rose and currently stood at USD 3,494 on tariff uncertainty. On the other hand, oil prices stood at USD 68.46/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,494 | 1.4 |
| Silver ($) | 40.64 | 2.4 |
| Brent Crude ($) | 68.46 | 0.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,995 | 56,132 |
| 100 DMA | 24,704 | 55,503 |
| 200 DMA | 24,074 | 52,917 |
Asian markets – Asian markets trading mixed in the early morning trade, Hang Seng trading down by 0.3 pct. While Nikkei trading positive by 2 pct.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices recovered losses on Monday supported by positive auto sales data and GDP print.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,364 | 0.7 | 2.8 |
| Nifty | 24,625 | 0.8 | 4.1 |
| Nifty Bank | 54,002 | 0.6 | 6.2 |
| Nifty Midcap 100 | 56,825 | 2.0 | -0.7 |
| Nifty Smallcap 100 | 17,498 | 1.6 | -6.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1429 | -220,963 |
| DII | 4344 | 516,915 |
Stocks to watch
Positive Read through
- HeroMoto – August sales above estimates, positive market sentiment anticipated for festive season.
- UBL – Commences production of Kingfisher at Ilios Brewery, Andhra Pradesh.
- Axiscades Tech – Bags orders worth USD 1.2 mn for cabin interiors, retrofit solutions.
- Unicommerce – To issue 1.44 mn shares to promoters at Rs 138.87/share to raise Rs 200 mn.
- Zaggle – Agreement with Suryoday SFB for employee expense management and benefits platform.
- Global Health – Noida hospital of the company has commenced its operations effective from today.
- Sugar Companies – Government removes all curbs on ethanol production from sugarcane juice/sugar syrup.
- Puravankara – Gets LoA for redevelopment project in Malabar Hill, Mumbai, GDV at Rs 27 bn.
- Fortis – 15-year lease agreement with RR Life for 200-bed fully multi-specialty hospital in Greater Noida.
- IGL – Enters into a JV agreement with RVUNL to set up solar power project.
- NMDC – August production up 9.8 pct, total sales rose 8 pct YoY.
- Coal India – August production up 9.4 pct, offtake grew 7.6 pct.
- Yes Bank – Gets RBI nod for re-appointment of Rama Subramaniam Gandhi as part-time chairman.
- BEL – Bags orders worth Rs 6.44 bn since July 30th.
Negative Read through
- Tata Motors – IT security incident occurred at arm JLR UK.
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