Market Commentary
Global markets – US indices closed lower on Thursday following Trump-Xi trade call. Dow Jones closed negative by 0.3 pct. While Nasdaq fell by 0.8 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,319 | -0.3 | -0.5 |
| Nasdaq | 19,298 | -0.8 | -0.1 |
| Hang Seng | 23,850 | -0.2 | 18.9 |
| Nikkei | 37,730 | 0.1 | -5.4 |
Commodities – Gold prices rose and currently trading at USD 3,361 ahead of US Jobs report. On the other hand, oil prices stood at USD 65.07/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,361 | 0.2 |
| Silver ($) | 35.93 | 0.8 |
| Brent Crude ($) | 65.07 | 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 down by 0.2 pct. While Nikkei trading higher by 0.2 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices extended gains on Thursday led by rally in rate sensitive sectors due to rate cut expectations.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,442 | 0.5 | 4.2 |
| Nifty | 24,751 | 0.5 | 4.7 |
| Nifty Bank | 55,761 | 0.2 | 9.6 |
| Nifty Midcap 100 | 58,303 | 0.7 | 1.9 |
| Nifty Smallcap 100 | 18,433 | 1.0 | -1.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -208 | -134,425 |
| DII | 2382 | 301,071 |
Stocks to watch
Positive Read through
- Tejas Networks – Gets Rs. 1.23 bn as first tranche of PLI incentive from DoT for Q3FY25.
- Power Grid – Gets notification for commercial ops for trans network expansion project in Gujarat.
- Inox Green – Promoter ups stake via open market.
- Ashoka Buildcon – Gets Rs. 13.90 bn LoI for traffic systems in 5 circles of Maharashtra.
- Praj Ind – To collaborate with Enersur S.A for a biorefinery project in Paraguay.
- Coal India – Non-binding MoU with Indian Port Rail Corp to build company’s rail infra.
- Dhampur Bio – Converts 100 kl molasses-based distillery into dual feed distillery.
- JSW Energy – Commissions 281 MW RE capacity, PPA with Adani Elec for 250 MW wind capacity.
- Zaggle Prepaid – To acquire GreenEdge Enterprises for Rs. 270 mn.
Negative Read through
- Ireda – QIP launched to raise up to Rs. 45 bn, indicative price 6.4 pct discount to CMP.
- Bajaj Finserv – Promoters likely to sell 1.94 pct sale via block deals, floor price at 3 pct discount to CMP.
- ZF Commercial – Promoter likely to sell up to 3.13 pct via block deals, Floor price at 10 pct discount to CMP.
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