Market Commentary
Global markets – The US indices closed green on Tuesday before CPI inflation report. Dow grew by 0.5 pct while Nasdaq grew 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,518 | 0.5 | -0.1 |
| Nasdaq | 19,188 | 0.5 | -0.6 |
| Hang Seng | 19,279 | 0.3 | -3.9 |
| Nikkei | 38,628 | 0.4 | -3.2 |
Commodities – Gold prices fell and stood at USD 2,672 ahead of inflation print. On the other hand, oil prices fell as US might boost energy supply.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,672 | -0.1 |
| Silver ($) | 29.81 | -0.2 |
| Brent Crude ($) | 79.80 | -0.7 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,009 | 51,524 |
| 100 DMA | 24,556 | 51,691 |
| 200 DMA | 23,951 | 50,767 |
Asian markets – Asian markets trading positive in the early trade. Hang Seng grew 0.3 pct largely tracking global peers. While Nikkei closed green by 0.4 pct.
Indian Indices – India’s equity benchmarks are likely to open slightly higher as GIFT Nifty indicates. Benchmark Indices halted their losing streak and ended Tuesday green backed by easing inflation data.
Results Today – HDFC Life, Transrail
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,499 | 0.2 | -2.1 |
| Nifty | 23,176 | 0.4 | -2.0 |
| Nifty Bank | 48,729 | 1.4 | -4.2 |
| Nifty Midcap 100 | 53,676 | 2.5 | -6.2 |
| Nifty Smallcap 100 | 17,257 | 2.0 | -8.1 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -8132 | -34,382 |
| DII | 7901 | 40,183 |
Stocks to watch
Positive Read through
- Cipla – Revised tax demand reduced to Rs. 5.59 bn from Rs. 7.73 bn for AY16-23.
- IRFC – Lowest bidder for financing a Rs. 31.67 bn coal block project in Jharkhand.
- MTNL – Extends Robert J Ravi’s additional charge as CMD by 3 months, effective Jan 15.
- Shoppers Stop – Reports double-digit growth in sales and EBITDA in Q3.
- Hero Moto – Launches new Destini 125 in 3 variants, starting at Rs. 80,450.
- Blue Dart – Launches largest integrated operating facility in Delhi.
- Adani Green – Commissions 57.2 MW wind power component in Gujarat.
- ASK Auto – Commences production at new manufacturing facility in Karnataka.
- Optiemus Infra – Partners with Taiwan-based company to manufacture and sell drones in India.
- Welspun Corp – Signs MoU with Saudi Aramco for LSAW line pipe manufacturing.
- Premier Energies – Secures Rs. 14.60 bn order from two independent power producers.
- Home First – Government Pension Fund sells 0.84 pct sake.
- Dhani Services – Launches 378-unit residential project in gurugram.
- Allcargo Gati – Total volume grew 10.8 pct MoM, up 7.6 pct YoY in December.
Negative Read through
- Sula Wineyard – Posted soft Q3 business update, net sales fell 0.7 pct.
- Hathway Cable – Q3 profit slipped by 39.3 pct YoY, sales grew 1.3 pct YoY.
- Network18 – Q3 news business sales up 2 pct YoY while EBITDA tumbled 47 pct YoY.
- Carborundum – US treasury department blocks Russia arm Volzhsky Abrasive Works’ properties.
- J&K Bank – SEBI issues warning to J&K Bank over delay in CEO announcement.
- Hindustan Zinc – Faces Rs. 925 mn GST penalty in Rajasthan.
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