Market Commentary
Global markets – US indices closed mixed on Wednesday over downtick in home sales. Dow closed in red by 0.4 pct while Nasdaq closed higher by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 43,433 | -0.4 | 2.1 |
| Nasdaq | 19,075 | 0.3 | -1.2 |
| Hang Seng | 23,577 | -0.9 | 17.5 |
| Nikkei | 38,198 | -0.1 | -4.3 |
Commodities – Gold prices slipped and stood at USD 2,907 on strong dollar and rising treasury yields. On the other hand, oil prices stood at USD 72.26/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,907 | -0.2 |
| Silver ($) | 31.73 | -0.4 |
| Brent Crude ($) | 72.26 | 0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,360 | 49,713 |
| 100 DMA | 23,873 | 50,795 |
| 200 DMA | 24,071 | 50,943 |
Asian markets – Asian markets trading lower in early morning trade. Hang Seng slipped by 0.9 pct as US imposed sanctions on 6 entities. While Nikkei trading lower by 0.1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as Gift Nifty indicates. Benchmark indices closed mixed on Tuesday ahead of monthly expiry.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,602 | 0.2 | -4.5 |
| Nifty | 22,547 | -0.0 | -4.6 |
| Nifty Bank | 48,608 | -0.1 | -4.4 |
| Nifty Midcap 100 | 49,702 | -0.6 | -13.1 |
| Nifty Smallcap 100 | 15,408 | -0.4 | -17.9 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 3030 | -134,167 |
| DII | -3529 | 137,409 |
Stocks to watch
Positive Read through
- MFI/NBFCs – RBI reduces risk weight assets requirement for certain loans.
- Bharti Airtel – Exploring the possibility of combining DTH arm with Tata Play.
- Vesuvius – Q4CY24 sales jumped 23 pct YoY, approves stock split in ratio of 1:10.
- DRL – US FDA classifies API manufacturing unit (CTO-2) in Bollaram, Hyderabad, as VAI, issues EIR.
- RailTel – Bags orders worth Rs. 168 bn from South Central Railway.
- Muthoot Fin – Gets RBI nod to open 115 new branches.
- Mastek – Bags USD 85 mn, 2-year contract from UK Public Services Dept.
- Zydus Life – To launch flu protection vaccine VaxiFlu-4 in India.
- Adani Green – LoA from UP Power Corp to procure 1,250 MW energy storage capacity.
- Tata Power – MoU with Assam Government to develop up to 5,000 MW of clean energy.
- Coforge – To consider stock split on March 4.
Negative Read through
- Godrej Props – FIR against Godrej Estate for not obtaining clearance from the environmental body.
- UltraTech – To enter cables & wires segment with an investment of Rs. 18 bn.
- Varun Bev – Extends date for closure of Ghana acquisition by a month.
- Cables & Wires – UltraTech to enter the C&W segment with an investment of Rs. 18 bn.
- Prestige Estates – I-T Dept conducting search operations at registered office from Feb 25, 2025.
- ONGC, Oil – Oil at 2-month low, Brent below USD 73/bbl.
- Azad Engg – To raise up to Rs. 7 bn via QIP, indicative price Rs. 1,280/sh.
Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
