Market Commentary
Global markets – US indices closed mixed on Wednesday over weak economic data. Dow Jones closed negative by 0.2 pct. While Nasdaq rose by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,427 | -0.2 | -0.3 |
| Nasdaq | 19,460 | 0.3 | 0.8 |
| Hang Seng | 23,879 | 1.0 | 19.0 |
| Nikkei | 37,658 | -0.2 | -5.6 |
Commodities – Gold prices remain steady and currently trading at USD 3,371. On the other hand, oil prices stood at USD 64.7/bbl amid concern over global oil oversupply.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,371 | -0.1 |
| Silver ($) | 34.54 | 0.3 |
| Brent Crude ($) | 64.70 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,004 | 53,560 |
| 100 DMA | 23,508 | 51,283 |
| 200 DMA | 24,067 | 51,524 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading up by 1 pct. While Nikkei trading lower by 0.2 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices closed in green on Wednesday supported by favourable global macros and rate cuts expectations.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,998 | 0.3 | 3.7 |
| Nifty | 24,620 | 0.3 | 4.1 |
| Nifty Bank | 55,676 | 0.1 | 9.5 |
| Nifty Midcap 100 | 57,924 | 0.7 | 1.3 |
| Nifty Smallcap 100 | 18,257 | 0.8 | -2.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1076 | -134,217 |
| DII | 2566 | 298,688 |
Stocks to watch
Positive Read through
- Welspun Corp – Received PCOD for Aunta–Simaria Ganga bridge project in Bihar.
- Force Motors – Total sales grew 19.1 pct at 3,088 Units Vs 2,592 Units.
- ITC Hotels – Launches Yura, betting big on India’s growing dessert market.
- Sansera Engineering – Secured a long-term contract from Airbus Defence and Space S.A.U.
- Escorts Kubota – Announced the commercial launch of a new backhoe loader, BLX 75.
- Kothari Industrial – Company & UAE’s BEEAH Tandeef Form International Consortium for Waste Projects in Tamil Nadu.
- Global Offshore Services – Acquired a DP2, FIFI1 Anchor Handling Tug cum Supply Vessel.
- Newgen software – Received more than USD two and half mn international order.
- Aadhar Housing – ICRA raises long-term rating outlook to positive from stable.
Negative Read through
- Gland Pharma – ANSM, France, issued a final report with 11 observations following a GMP inspection.
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