Market Commentary
Global markets – US indices closed mixed on Monday ahead of Nvidia’s result and inflation data. Dow closed in green by 0.1 pct while Nasdaq fell by 1.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 43,461 | 0.1 | 2.2 |
| Nasdaq | 19,286 | -1.2 | -0.1 |
| Hang Seng | 23,150 | -0.8 | 15.4 |
| Nikkei | 38,345 | -1.1 | -3.9 |
Commodities – Gold prices increased and stood at USD 2,948 on Tariff worries. On the other hand, oil prices stood at USD 75.10/bbl over fresh Iran sanctions.
Asian markets – Asian markets trading lower in early morning trade. Hang Seng slipped by 0.8 pct. While Nikkei closed red by 1.1 pct on stronger Yen.
Indian Indices – India’s equity benchmarks are likely to open muted as Gift Nifty indicates. Benchmark indices tumbled on Monday pressured by concerns over slowing growth in the U.S.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,454 | -1.1 | -4.7 |
| Nifty | 22,553 | -1.1 | -4.6 |
| Nifty Bank | 48,651 | -0.7 | -4.3 |
| Nifty Midcap 100 | 50,013 | -0.9 | -12.6 |
| Nifty Smallcap 100 | 15,477 | -1.0 | -17.5 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 5185 | -130,638 |
| DII | -6286 | 134,378 |
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,948 | -0.2 |
| Silver ($) | 32.43 | 0.3 |
| Brent Crude ($) | 75.10 | 0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,396 | 49,798 |
| 100 DMA | 23,898 | 50,824 |
| 200 DMA | 24,069 | 50,939 |
Stocks to watch
Positive Read through
- NTPC Green – Inks MoU with MP Power Generating Co to set up capacity up to 20 GW.
- Biocon – Arm launches Yesintek in the US, used to treat common chronic autoimmune diseases.
- Akzo Nobel – Approves sale of powder coatings business, R&D centre to parent.
- Adani Green – Operationalises an incremental 67 MW of solar power project at Khavda, Gujarat.
- NTPC – Group inks MoUs to invest Rs. 2 trillion at Madhya Pradesh summit.
- Texmaco – Signs MoU with Poland-based Nevomo Forge for Magrail tech, other tech solutions.
- PSBs – Govt invites bids to appoint lead managers, brokers for stake sale in select PSBs, FIs.
- Sharda Motor – To transfer lease rights on land for Rs. 230 mn.
- USL – Sources say govt considering review of import duty on alcohol, especially Scotch from UK.
- Airtel – Tata Play, Airtel Digital TV in merger talks as DTH industry struggles amid streaming boom.
- Shipping stocks – India plans its own shipping fleet; wants to provide assured demand for ships built in the country from state-run firms.
Negative Read through
- SBI Cards – Total January spends fell 5.6 pct, average spends per card declined 14.2 pct MoM.
- Shree Cement – Faces Rs. 410 mn GST demand over valuation, excess Input Tax Credit.
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