Market Commentary
Global markets – US indices ended Wednesday mixed as consumer inflation decelerates. Dow closed negative by 0.2 pct while Nasdaq rose by 1.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 41,350 | -0.2 | -2.8 |
| Nasdaq | 17,648 | 1.2 | -8.6 |
| Hang Seng | 23,600 | 0.0 | 17.7 |
| Nikkei | 37,173 | 1.0 | -6.8 |
Commodities – Gold prices rose and stood at USD 2,944 on Tariff worries and cooling inflation. On the other hand, oil prices stood at USD 71/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,944 | 0.4 |
| Silver ($) | 33.25 | 0.2 |
| Brent Crude ($) | 71.00 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,079 | 49,129 |
| 100 DMA | 23,616 | 50,486 |
| 200 DMA | 24,061 | 50,946 |
Asian markets – Asian markets trading mixed in the early morning trade despite overnight supportive cues. Hang Seng trading flat. While Nikkei trading higher by 1 pct on US inflation relief.
Indian Indices – India’s equity benchmarks are likely to open flat to positive as Gift Nifty indicates. Benchmark indices closed negative led by downturn in IT stocks over potential slowdown in US economy.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,029 | -0.1 | -5.3 |
| Nifty | 22,470 | -0.1 | -5.0 |
| Nifty Bank | 47,056 | 0.4 | -5.5 |
| Nifty Midcap 100 | 48,486 | -0.6 | -15.2 |
| Nifty Smallcap 100 | 15,044 | -0.2 | -19.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1627 | -166,801 |
| DII | 1510 | 176,171 |
Stocks to watch
Positive Read through
- Wabag – Secured Rs. 3.6 bn order from Gail for Design, build, operate of an effluent recycle plant.
- Polycab – Bags contract worth Rs. 30.03 bn from BSNL for BharatNet project.
- Infosys – Expands strategic collaboration with Citizens for AI-led transformation.
- Coromandel Intl – To acquire NACL Ind, also makes open offer at Rs. 76.70/share.
- BEL – Bags Rs. 24.63 bn order, inflows of Rs. 72 bn in Q4 so far.
- MTNL – Govt gets Rs. 130 bn till Jan from sale of BSNL & company’s assets, towers & fiber.
- Jubilant PH – US FDA closes inspection at a US unit, gets establishment inspection report.
- BEML & Siemens – To explore opportunities in semi-high-speed & other train segments.
- Indigo – To invest up to Rs. 3.94 bn in InterGlobe Aviation Financial Services IFSC.
- NTPC Green – Declares full commercial operation of 105 MW Shajapur solar project.
- Premier Explosives – Received an export order for Rs. 214 mn for defence explosives.
- Swelect Energy – Secures 150 MW solar module orders, raises Rs. 2.9 bn to fund 1 GW expansion.
- Atishay Ltd – Awarded order for printing and delivery of PVC co-branded Ayushman cards by the Government of Odisha.
Negative Read through
- Ola Elec – Announces Holi flash sale with offers of up to Rs. 26,750 on its S1 range.
- Yatra Online – Rohan Purshottamdas Mittal resigns as Group Chief Financial Officer of the company.
- Muthoot Finance – Muthoot Insurance Brokers informed company regarding a fraud of Rs. 120 mn.
- Nazara Tech – Sudhir Kamath, Chief Operating Officer resigns, effective April 1, 2025.
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