Market Commentary
Global markets – US indices closed red on Thursday over auto tariff that hits Shares of General Motors and Ford. will push inflation higher. Dow closed red by 0.4 pct flat. While Nasdaq fell by 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,299 | -0.4 | -0.6 |
| Nasdaq | 17,804 | -0.5 | -7.8 |
| Hang Seng | 23,494 | -0.4 | 17.1 |
| Nikkei | 37,011 | -2.1 | -7.2 |
Commodities – Gold prices rose and stood at USD 3,071 driven by geopolitical uncertainties. On the other hand, oil prices stood at USD 73.34/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,071 | 0.5 |
| Silver ($) | 34.24 | -0.4 |
| Brent Crude ($) | 73.34 | 0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 22,998 | 49,247 |
| 100 DMA | 23,492 | 50,355 |
| 200 DMA | 24,080 | 51,001 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading lower by 0.4 pct. While Nikkei trading red by 2.1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as Gift Nifty indicates. Benchmark indices closed higher Thursday led by uptick in financial stocks.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,606 | 0.4 | -0.7 |
| Nifty | 23,591 | 0.4 | -0.2 |
| Nifty Bank | 51,575 | 0.7 | 1.4 |
| Nifty Midcap 100 | 51,839 | 0.4 | -9.4 |
| Nifty Smallcap 100 | 16,119 | 1.1 | -14.1 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 11111 | -139,996 |
| DII | 2517 | 181,384 |
Stocks to watch
Positive Read through
- BSE – SEBI proposes limiting derivates expiries to Tuesday and Thursday.
- M&M, Force Motors – Defence Ministry signs Rs. 25 bn contract.
- BEL – Gets additional orders of Rs. 13.85 bn since March 12.
- JSPL – Successful bidder for Saradhapur Jalatap East Coal block.
- Samvardhan – No material impact from US auto tariff.
- Infosys – Company drives LKQ Europe’s HR overhaul with unified cloud platform.
- Zensar Tech – To collaborate with Tesco Insurance & Money.
- Zen Tech – Bags Rs. 1.52 bn order from MoD for integrated air defence combat simulator.
- Max Estates – Board approved the binding MOUs with New York Life Insurance Company.
- AB Fashion – NCLT approves scheme of arrangement among company & Aditya Birla Lifestyle Brands.
- UltraTech – Commissions brownfield clinker capacity of 3.35 MTPA in Madhya Pradesh plant.
- IREDA – Secures JPY 26 bn ECB Facility from SBI Tokyo.
- DLF – Outlined an aggressive financial strategy, aiming a zero-debt position in its development business.
Negative Read through
- Britania, BPCL – To be excluded from Nifty 50 today.
- Asian Paints – Increased project cost for VAE & VAM units in Dahej by Rs. 6.9 bn.
- Gravita – Received Rs 414 mn demand notice from the Income Tax Dept. for AY22-23.
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.
