Market Commentary
Global markets – US indices closed Positive on Thursday as tech support offsets labour, shutdown uncertainties. Dow Jones closed up by 0.2 pct. While Nasdaq closed green by 0.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 46,519 | 0.2 | 9.3 |
| Nasdaq | 22,844 | 0.4 | 18.3 |
| Hang Seng | 27,051 | -0.9 | 34.9 |
| Nikkei | 44,584 | 1.4 | 14.3 |
Commodities – ld prices fell and currently stood at USD 3,850 over profit booking. On the other hand, oil prices stood at USD 64.39/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,850 | -0.2 |
| Silver ($) | 46.83 | -0.2 |
| Brent Crude ($) | 64.39 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,848 | 55,225 |
| 100 DMA | 24,942 | 55,694 |
| 200 DMA | 24,162 | 53,204 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.9 pct. While Nikkei trading positive by 1.2 pct.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Ni fty indicates. Benchmark Indices rebounded on Wednesday bolstered by gains in banking stocks after the central bank eased rules for lending to capital markets and large corporates.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,983 | 0.9 | 3.6 |
| Nifty | 24,836 | 0.9 | 5.0 |
| Nifty Bank | 55,347 | 1.3 | 8.8 |
| Nifty Midcap 100 | 57,029 | 0.9 | -0.3 |
| Nifty Smallcap 100 | 17,755 | 1.1 | -5.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1605 | -256,440 |
| DII | 2916 | 580,830 |
Stocks to watch
Positive Read through
- Hero Moto – September sales above estimates, rose 8 pct, exports jumped 95 pct YoY.
- Tata Power – Power purchase agreement with TPC-D to set up 80 MW RE projects, capex at Rs. 12 bn.
- Waaree Energies – Board approves capex of Rs. 81.75 bn to increase capacity across segments.
- AB Realty – Assigns leasehold rights for 104.47acre land to Ultratech for Rs. 930 mn.
- KRBL – Successful bidder for acquisition of immovable properties in PACL Ltd matter, final bid at Rs. 4.03 bn.
- Maruti – Total September sales in line with estimates, exports grew 52 pct YoY.
- TVS Motor – September sales largely in line with estimates, rose 12 pct YoY.
- Hyundai – Starts production at Talegaon plant with 0.17 mn unit capacity.
- Nestle – New 20,000 TPA Maggi production line to be added in Pune for Rs. 850 mn.
- Adani Green – Arm commissions 50 MW solar power and 31.2 MW wind power project at Khavda.
- Goodluck – Gets industrial license under Indian Arms Act enabling production of empty shells.
- Crompton – Gets LoA for project worth Rs. 47.5 mn from Madhya Pradesh Urja Vikas Nigam.
- TTK Prestige – Commissions additional production capacity of 1.2 mn units per year for triply cookware at Karjan unit.
- USL – Rs. 2.4 bn water bill against company quashed by HC, Adar Poonawalla confirms RCB interest.
Negative Read through
- PVR Inox – CCI initiates investigation against company with regard to levy of virtual print fee.
- Coal India – September production at 48.7 MT vs 50.94 MT, offtake at 53.56 MT vs 54.16 MT YoY.
- South Indian Bank – Q2 advances and deposits growth in single digit vs guidance of 12 pct growth.
- Zydus Life – US based arm gets an FDA complete response letter for CUTX-101 drug.
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