Market Commentary
Global markets – US indices fell sharply on Monday due to concern regarding possible recession and falling bond yields. Dow closed Negative by 2.1 pct while Nasdaq saw sharp declined of 4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 41,911 | -2.1 | 1.5 |
| Nasdaq | 17,468 | -4.0 | -9.5 |
| Hang Seng | 23,537 | -1.0 | 17.3 |
| Nikkei | 36,382 | -1.7 | -8.8 |
Commodities – Gold prices stood at USD 2,898 as dollar softens. On the other hand, oil prices stood at USD 69.26/bbl amid demand concern.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,898 | 0.3 |
| Silver ($) | 32.16 | 0.4 |
| Brent Crude ($) | 69.26 | 0.1 |
| 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 slipped as market selloff deepens on US growth worries. Hang Seng fell by 1 pct. While Nikkei closed lower by 1.7 pct largely tracking western markets.
Indian Indices – India’s equity benchmarks are likely to open negative as Gift Nifty indicates. Benchmark indices tumbled on Monday led by broad based selling and concern over tariffs & potential recession in US.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,115 | -0.3 | -5.1 |
| Nifty | 22,460 | -0.4 | -5.0 |
| Nifty Bank | 48,216 | -0.6 | -5.2 |
| Nifty Midcap 100 | 49,440 | -1.5 | -15.3 |
| Nifty Smallcap 100 | 15,198 | -2.0 | -19.0 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -2035 | -161,865 |
| DII | 2320 | 172,396 |
Stocks to watch
Positive Read through
- Ashoka Buildcon – LoA for a project worth Rs. 3.10 bn from Maharashtra government.
- Anupam Rasayan – 10-year LoI worth Rs. 9.20 bn from a Korean MNC.
- Thermax – 51:49 JV with Brazil-based OCQ for high-performance chemicals.
- Syngene – Arm acquires 1st manufacturing unit in the US from Emergent Manufacturing Operations.
- BEL – Bags orders worth Rs. 8.43 bn since March 6, 2025.
- HEG – Bhilwara Energy approves fund raise up to Rs. 5 bn.
- Navin Fluorine – Additional 4500 TPA HFC (R32) capacity plant goes on stream in Surat.
- Centum Elec – Board approves fund raise via QIP at Rs. 1,219.65/share.
- Hitachi – To raise up to Rs. 30 bn via QIP, indicative issue price Rs. 11,507/share.
- RVNL – MoU with Abhinava Strategic Partners PV for advisory services.
- Arvind Fashions – To add two Club A stores in Hyderabad & Bangalore.
- Anupam Rasayan – 10-year LoI worth Rs. 9.20 bn from a Korean MNC.
- NTPC – Company to invest Rs 960 bn in Chhattisgarh projects.
Negative Read through
- IndusInd Bank – Discrepancies in derivative book accounting to impact 2.35% of net worth.
- Indoco – US FDA issues Form 483 with one observation for Hyderabad CRO unit.
- Star Health – Ahmedabad hospitals to suspend cashless services for the company’s policyholders.
- Oil Marketing PSUs – No provision for LPG subsidy in 2nd supplement demand for grants.
- Nectar Life – Received 7 observations, including 4 critical ones in a recent EU regulatory inspection.
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