Market Commentary
Global markets – US equity indexes end mixed on Friday largely due to participants waiting for most awaited Federal Reserve’s Monetary Policy decision due this week.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 43,828 | -0.2 | 16.3 |
| Nasdaq | 19,926 | 0.1 | 32.7 |
| Hang Seng | 19,901 | -0.4 | 16.7 |
| Nikkei | 39,533 | 0.2 | 18.1 |
Commodities – Gold trading higher as investors Federal Reserve meeting this week. While Brent crude fell by 0.2 pct largely due to technical correction.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,651 | 0.2 |
| Silver ($) | 30.47 | -0.2 |
| Brent Crude ($) | 74.16 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,412 | 51,816 |
| 100 DMA | 24,709 | 51,684 |
| 200 DMA | 23,782 | 50,361 |
Asian markets – Asian markets trading mixed in early trade. Hang Seng fell 0.4 pct as housing transaction fell by 20 pct while Nikkei grew at 0.2 pct ahead of BoJ policy.
Indian Indices Indian market is expected to open muted amid mixed global cues. Benchmarks Indices closed green on Friday, driven by gains in consumer stocks amid easing domestic retail inflation, marking their 4th consecutive weekly rise.
Indian ADRs: Infosys (0.7%), ICICI Bank (0.9%) and Dr Reddy’s (0.4%).
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,133 | 1.0 | 13.7 |
| Nifty | 24,768 | 0.9 | 14.0 |
| Nifty Bank | 53,583 | 0.7 | 11.0 |
| Nifty Midcap 100 | 58,991 | -0.1 | 27.7 |
| Nifty Smallcap 100 | 19,407 | -0.3 | 28.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 2335 | -272,570 |
| DII | -732 | 503,140 |
Stocks to watch
Positive Read through
- Dixon Tech – Signs binding term sheet with Vivo India to form JV to undertake OEM business.
- Radico Khaitan – Brand After Dark whisky crosses 1 mn cases in November, growing at 80 pct.
- Happy Forgings – Bags order worth Rs. 1.40 bn to supply crankshafts.
- JK Paper – To consolidate business operations, acquires majority stake in Radhesham Wellpack.
- Biocon – European Medicines Agency recommends approval of Yesintek biosimilar to J&J’s Stelara.
- Afcons – Gets LoA from MP Metro Rail Co for an EPC project worth Rs. 10.07 bn.
- Godavari Bio – To add 200 KLPD distillery capacity for Rs. 1.30 bn at Sameerwadi manufacturing unit.
- Bharat Forge – Arm to buy 25 pct stake for Rs. 223 mn in marine robotics player Edgelab.
- Lupin – Acquires 3 trademarks from Boehringer Ingelheim to strengthen diabetes portfolio.
- Borosil Renewables – Board meeting on December 18th to consider fund raise.
- HBL Power – Bags order worth Rs. 15.22 bn for Kavach equipment from Chittaranjan Loco Works.
- Aurobindo – Arm receives positive opinion for biosimilar Zefylti from EMA.
- RITES – Bags work order worth Rs. 2.98 bn from MEA for integrated check post.
- Godrej Agro – Gujarat government allots land in Vadodara, Surat, Tapi for oil palm cultivation.
Negative Read through
- Lokesh Machines – M&M cancels supply of auto component order.
- Ceigall – Jhakhand state Highways Authority cancels projects of Rs. 2.07 bn.
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