Market Commentary
Global markets – US indices closed higher on Friday over strong jobs data and rally in technology stocks. Dow Jones closed positive by 1 pct. While Nasdaq jumped by 1.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,276 | 1.0 | 0.5 |
| Nasdaq | 19,529 | 1.2 | 1.1 |
| Hang Seng | 24,137 | 1.5 | 20.3 |
| Nikkei | 38,137 | 1.0 | -4.4 |
Commodities – Gold prices fell and currently trading at USD 3,307 over easing macro uncertainties. On the other hand, oil prices stood at USD 66.37/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,307 | -0.1 |
| Silver ($) | 36.00 | 0.1 |
| Brent Crude ($) | 66.37 | -0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,137 | 54,040 |
| 100 DMA | 23,552 | 51,525 |
| 200 DMA | 24,076 | 51,639 |
Asian markets – Asian markets trading positive in the early morning trade, largely tracking western peers. Hang Seng jumped by 1.5 pct. While Nikkei trading higher by 1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark indices rallied on Friday driven by jumbo rate cut by RBI that boosted rally in financials sectors.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,188 | 0.9 | 5.2 |
| Nifty | 25,003 | 1.0 | 5.7 |
| Nifty Bank | 56,578 | 1.5 | 11.2 |
| Nifty Midcap 100 | 59,010 | 1.2 | 3.2 |
| Nifty Smallcap 100 | 18,582 | 0.8 | -1.0 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1009 | -133,415 |
| DII | 9342 | 310,413 |
Stocks to watch
Positive Read through
- Garden Reach – Signs MoUs in Sweden & Denmark for marine systems, cruise segment.
- BEL – Inks MoU with Tata Electronics to explore opportunities in area of semiconductors.
- MGL – Will prefer vol over margin, see 10 pct+ volume CAGR over next 2-3 yrs.
- Afcons Infra – Gets LoA worth Rs. 7 bn from Reliance Industries.
- NTPC – Declares 193 MW out of 245 MW capacity commercially operational for Nokh project.
- UPL – Arm Advanta Seeds Brazil to sell associate Company Serra Bonita’s assets.
- Lupin – Tentative US FDA nod for seizure-control drug oxcarbazepine ER tablets.
- PNC Infra – Gets LoI for an EPC project worth Rs. 2.4 bn from PWD-Rajasthan.
- MCX – Received SEBI nod to launch electricity derivatives.
- Power Grid – Commissions fibre optic communication system in western region.
- SPML Infra – Maharashtra government allots 99,000 sqm land for battery energy storage system manufacturing unit.
- RITES – In MoU with Hindustan Copper for critical mineral supply chain in India & overseas.
- Infosys – Receives closure from GST Intelligence on Rs. 324.03 bn pre-show cause notice.
- NHPC – Completes phase 3 with 53.6 MW capacity of 300 MW solar project.
Negative Read through
- Suzlon – Promoter may sell up to 2 mn shares via block deals at 2.9 pct disc to CMP.
- Dalmia Bharat/Star Cem – West Bengal government revokes incentive scheme.
- Asian Paints – CCI to pass an order for abuse probe soon on complaint by Birla Opus.
- Ambuja/Nuvoco – West Bengal government revokes incentive scheme.
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