Market Commentary
Global markets – The US indices slipped on Tuesday as strong economic data fuelled fears of an inflation rebound, potentially slowing the Fed’s monetary easing. Dow closed lower by 0.4 pct while Nasdaq fell 1.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,528 | -0.4 | 0.0 |
| Nasdaq | 19,489 | -1.9 | 0.9 |
| Hang Seng | 19,231 | -1.1 | -4.1 |
| Nikkei | 39,942 | -0.4 | 0.1 |
Commodities – Gold trading steady at USD 2,648 as Strong US Dollar Weighs. On the other hand, oil prices gain amid signs of declining US crude inventories., Brent crude gained stood at 77.24.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,648 | 0.0 |
| Silver ($) | 30.01 | 0.2 |
| Brent Crude ($) | 77.24 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,115 | 51,805 |
| 100 DMA | 24,618 | 51,759 |
| 200 DMA | 23,907 | 50,688 |
Asian markets – Asian markets trading lower following global market. Hang Seng slipped 1.1 pct While Nikkei trading lower by 0.4 pct.
Indian Indices – India’s equity benchmarks are likely to open with tepid note as GIFT Nifty indicates. Benchmark Indices recovered on Tuesday as HMPV Worries Subsdie.
Indian ADRs: Infosys (0.5%), ICICI Bank (0.5%) and Dr Reddy’s (-0.1%).
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,199 | 0.3 | 0.1 |
| Nifty | 23,707 | 0.4 | 0.3 |
| Nifty Bank | 50,202 | 0.6 | -1.2 |
| Nifty Midcap 100 | 56,869 | 0.9 | -0.6 |
| Nifty Smallcap 100 | 18,673 | 1.3 | -0.5 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1491 | -8570 |
| DII | 1615 | 9898 |
Stocks to watch
Positive Read through
- KEC International – Bags orders worth Rs. 11.36 bn across its various businesses.
- Signature Global – Q3 pre-sales jumped 120 pct, collections rose 40 pct YoY.
- Tata Steel – Q3 India business production grew 6.2 pct, deliveries rise 8.4 pct YoY.
- RVNL – Signs MoU with Dubai’s GBH International to explore civil infrastructure business in GCC countries.
- RVNL – Signs MoU with Dubai’s GBH International to explore civil infrastructure business in GCC countries.
- Puravankara – Board approves acquisition of balance shares in arm Sobha Puravankara Aviation.
- Exicom – Partners with Mufin Green Infra for expansion of EV charging solutions in India.
- Tata Technologies – Signs MoU for next-gen software-defined vehicle solutions.
- DRL – Arm to sell manufacturing facility in Shreveport, USA, to Jaguar Labs Holdings.
- Zomato – Initiates 15-minute food delivery service.
- Maruti – Announces its blueprint for electric mobility, christened ‘e For Me’.
- NTPC – Incorporates Wholly Owned Subsidiary for Nuclear Energy.
- Oil upstream stocks – Crude oil prices firming up to USD 77/ barrel.
- CESC – Bags contract for 150 MW Wind-Solar Hybrid Power Project.
Negative Read through
- Ola Electric – SEBI warning letter on timely disclosure norms, HC refuses relief in CCPA case.
- Ashiana Hsg – Q3 area sold value fell by 32 pct, Area booked slid 7.4 pct QoQ.
- Sobha – Q3 sales tumbled 29 pct, average realisations grew 16 pct YoY.
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