Market Commentary
Global markets – US indices declined on Tuesday led by tariff concern and weak expectations of consumer inflation report. Dow closed red by 1.1 pct while Nasdaq fell by 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 41,433 | -1.1 | -2.6 |
| Nasdaq | 17,436 | -0.2 | -9.7 |
| Hang Seng | 23,802 | 0.1 | 18.7 |
| Nikkei | 36,898 | 0.3 | -7.5 |
Commodities – Gold prices rose and stood at USD 2,917 on Weaker US dollar. On the other hand, oil prices stood at USD 69.91/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,917 | 0.1 |
| Silver ($) | 32.76 | -0.5 |
| Brent Crude ($) | 69.91 | 0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,127 | 49,249 |
| 100 DMA | 23,662 | 50,560 |
| 200 DMA | 24,066 | 50,958 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng grew by 0.1 pct. While Nikkei trading higher by 0.3 pct as sentiments improves.
Indian Indices – India’s equity benchmarks are likely to open flat as Gift Nifty indicates. Benchmark indices closed flat on Tuesday amid global recession fears.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,102 | -0.0 | -5.2 |
| Nifty | 22,497 | 0.2 | -4.9 |
| Nifty Bank | 47,853 | -0.8 | -5.9 |
| Nifty Midcap 100 | 48,762 | 0.7 | -14.8 |
| Nifty Smallcap 100 | 15,075 | -0.8 | -19.7 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2035 | -161,865 |
| DII | 2320 | 172,396 |
Stocks to watch
Positive Read through
- Waaree Renewables – JV secures Rs 7.40 bn solar EPC order for 125 MWAC project.
- Bharti Airtel – Elon Musk’s Starlink ties up with Airtel to come to India.
- Coromandel – In advanced talks to buy a controlling stake in Nagarjuna Agrichem.
- Godrej Agrovet – To acquire 48.06 pct stake in Creamline Dairy for Rs. 9.30 bn.
- Thomas Cook – Announced the launch of a new product, the Borderless Travel Card.
- RVNL – Lowest bidder for a highway project in Andhra Pradesh. The project worth Rs 5.54 bn.
- Zydus Life – Board approves block acquisition of 85.6 pct equity of Amplitude Surgical for €256.8 mn.
- Reliance – Elon Musk’s Starlink ties up with Jio to come to India.
- Adani Green Energy – Commissioned a 250 MW solar power project in Kadapa, Andhra Pradesh.
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