Market Commentary
Global markets – U.S. benchmark equity indexes ended session red as caution prevailed ahead of the release of the November consumer inflation report. Dow Jones fell 0.3 pct and Nasdaq slipped 0.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,247 | -0.3 | 17.4 |
| Nasdaq | 19,687 | -0.2 | 31.2 |
| Hang Seng | 20,381 | 0.3 | 19.6 |
| Nikkei | 39,112 | -0.6 | 16.9 |
Commodities – Gold nudges up, buoyed by expectations of looser monetary policies from major central banks and strong demand for safe-haven assets amid global economic uncertainties. On the other hand, Crude Oil inches up as investors expecting strong demand from China.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,669 | 0.2 |
| Silver ($) | 31.94 | 0.2 |
| Brent Crude ($) | 72.56 | 0.7 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,488 | 51,807 |
| 100 DMA | 24,708 | 51,654 |
| 200 DMA | 23,745 | 50,265 |
Asian markets – Asian equities opened with mixed note and waiting for the fresh triggers to continue momentum. Hang Seng up 0.3 pct for while Nikkei slipped at 0.1 pct.
Indian Indices – Indian stock markets are likely to open on a cautious note today as investors keep a close watch on upcoming U.S. inflation data. Benchmark indices closed flat on Tuesday, as investors eyeing inflation data of India and US this week.
Indian ADRs: Infosys (0.3%), ICICI Bank (0.1%) and Dr Reddy’s (-1.4%).
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 81,50 | 0.0 | 12.8 |
| Nifty | 24,610 | 0.0 | 13.3 |
| Nifty Bank | 53,577 | 0.3 | 10.9 |
| Nifty Midcap 100 | 59,135 | 0.2 | 28.1 |
| Nifty Smallcap 100 | 19,583 | 0.3 | 29.3 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 1285 | -270,333 |
| DII | 605 | 499,218 |
Stocks to watch
Positive Read through
- NTPC Renewable – Bags 500 MW solar power contract in SECI auction.
- Reliance – Arm gets NCLT nod for Karkinos Healthcare resolution plan.
- IOB – Gets Rs. 13.59 bn tax refund for AY2015-16.
- Adani Ports – Withdraws Fin request to US DFC, to fund Colombo Project via internal accruals.
- PNC Infra – HAM project worth Rs. 7.38 mn in UP cleared for commercial operations by Independent Engineering.
- Syngene – Biocon to sell 2 pct stake via block, issue price ₹825/sh.
- LTIMindtree – Partnership with GitHub Forge to accelerate AI-driven software engineering.
- Shriram AMC – Issues preference shares worth Rs. 1.05 bn to Sanlam for 23 pct equity, to be classified as promoter.
- Triveni Engg – To merge arm Sir Shadi Lal Ent, spin off power transmission business company.
- Kellton – Bags USD 2.5 mn project from Oil India to transform wellhead monitoring.
- Voda Idea – To issue Preference shares worth up to Rs. 19.80 bn to Vodafone PLC entities.
- BEML – Bags order worth Rs. 835 mn from Defence Ministry.
- Jubilant PH – India Ratings revises rating outlook to stable from negative.
- Senco Gold – QIP opens with floor price of Rs. 1,139.5/share.
Negative Read through
- Awfis – Bisque, Link Invest and Peak XV to sell 12.2 pct via block, floor price at 5.5 pct discount to CMP.
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.
