Market Commentary
Global markets – US indices closed mixed on Tuesday amid weak job and manufacturing data. Dow closed slightly red. While Nasdaq rose by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 41,989 | -0.0 | -1.3 |
| Nasdaq | 17,449 | 0.9 | -9.4 |
| Hang Seng | 23,291 | 0.4 | 16.1 |
| Nikkei | 35,639 | 0.0 | -10.7 |
Commodities – Gold prices rose and stood at USD 3,031 ahead fresh US tariffs. On the other hand, oil prices stood at USD 74.47/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,131 | 0.6 |
| Silver ($) | 33.86 | 0.5 |
| Brent Crude ($) | 74.47 | 0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,002 | 49,339 |
| 100 DMA | 23,477 | 50,345 |
| 200 DMA | 24,081 | 51,015 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading higher by 0.4 pct. While Nikkei trading flat.
Indian Indices – India’s equity benchmarks are likely to open flat as Gift Nifty indicates. Benchmark indices tumbled on Tuesday as investors turned cautious amid concerns over impending US reciprocal tariffs.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,024 | -1.8 | -2.7 |
| Nifty | 23,165 | -1.5 | -2.0 |
| Nifty Bank | 50,827 | -1.4 | -0.1 |
| Nifty Midcap 100 | 51,229 | -0.9 | -10.4 |
| Nifty Smallcap 100 | 15,982 | -0.7 | -14.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -5901 | -150,250 |
| DII | 4332 | 193,353 |
Stocks to watch
Positive Read through
- Hyundai – March sales came higher than estimates, led by SUV segment.
- Power Grid – To set up 400 KV transmission line at Mahan Energen in Madhya Pradesh.
- VMART – Q4 sales grew 17 pct, Same store sales growth came at 8 pct YoY.
- Coal India – Raises prices of coking & non coking coal by Rs. 10/tonne.
- Hind Copper – MP unit sees highest ever yearly ore production.
- CSB Bank – Q4 deposits and gross advances rose more than 10 pct QoQ.
- JSW Energy – Adds 3.6 GW capacity in FY25, surpasses target capacity of 10 GW.
- NMDC – March sales rose 6 pct, FY25 sales remain flat at 44.4mt YoY.
- Moil – Hikes prices of manganese ore by 3 pct and 0.5 pct for different grades.
- SJVN – Completes trial run of 242 MW of the 1000 MW Bikaner solar project.
- Lloyds Metals – Company reported its highest-ever sponge iron production of 308kt, up 18 pct YoY.
- Sterling and Wilson – Secures three new green energy projects totalling Rs 14.70 bn.
- Max Healthcare – Expands with new Rs. 5 bn Facility for Gurugram super speciality hospital.
Negative Read through
- Swiggy – Gets Tax demand of Rs. 1.58 bn for period April 2021 to March 2022.
- Godawari Power – Suspends mining operation at company’s Boria Tibu iron ore mines, Chhattisgarh.
- SBI Cards – Total February spends declined 9.7 pct, Average spends per card declined by 10.5 pct MoM.
- Tata Motors – March sales higher than estimates but underperformance continues.
- Rites – Mutually agree to terminate major agreement secured from UP State Bridge Corp.
- Voltas – Rakesh Rampratap Tripathi, head commercial air conditioning resign.
- Hindalco – India business capex rose to USD 5 bn from USD 1 bn, Novelis guidance maintained.
- MCX – Transaction sales declined by 4 pct QoQ, Average daily transaction sales below estimates
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