Market Commentary
Global markets – US indices closed on Monday on account of President Day Dow closed lower by 0.4 pct while Nasdaq jumped 1.9 pct on Friday.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,546 | -0.4 | 4.7 |
| Nasdaq | 20,026 | 1.9 | 3.7 |
| Hang Seng | 22,973 | 1.6 | 14.5 |
| Nikkei | 39,296 | 0.3 | -1.5 |
Commodities – Gold prices increased and stood at USD 2,906 over global trade war concern. On the other hand, oil prices stood at USD 75.19/bbl amid supply concern.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,906 | 0.2 |
| Silver ($) | 32.35 | -0.1 |
| Brent Crude ($) | 75.19 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,578 | 50,233 |
| 100 DMA | 24,049 | 51,028 |
| 200 DMA | 24,054 | 50,912 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng rose 1.6 pct. While Nikkei trading positive by 0.3 pct.
Indian Indices
India’s equity benchmarks are likely to open flat to negative as Gift Nifty indicates. Benchmark indices closed flat on Monday as uptick in heavyweight stocks offset weak investor sentiments.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,996 | 0.1 | -2.7 |
| Nifty | 22,959 | 0.1 | -2.9 |
| Nifty Bank | 49,258 | 0.3 | -3.1 |
| Nifty Midcap 100 | 49,849 | 0.4 | -12.8 |
| Nifty Smallcap 100 | 15,413 | 0.0 | -17.9 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3937 | -120,496 |
| DII | 4759 | 117,371 |
Stocks to watch
Positive Read through
- Power Grid – Successful bidder under TBCB for 2 projects for ISTSs in Rajasthan & Karnataka.
- Bharti Airtel – Promoter company may sell 0.8 pct stake, offer price at 1 pct discount to CMP.
- Zomato – Opens Nugget, a customer support app for third-party use.
- Bharat Forge – Launches mobile gun system mounted on a 4×4 all-terrain platform.
- GR Infra – Madhya Pradesh highway project worth Rs. 9.07 bn completed.
- KIMS – Inks operational management agreement with UAIMS, with call option to buy majority stake.
- SBI Cards – Appoints Salila Pande, currently CGM at SBI, as MD & CEO for 2 years.
- Paytm – Arm Paytm Services partners with SBI Mutual Fund, launches ₹250 SIP.
- GMR Airports – January passenger traffic up 11 pct, aircraft movement up 9 pct YoY.
- Allcargo – January CFS volumes up 11 pct YoY & up 4 pct MoM.
- Deepak Fert – Ups stake in Australian arm to 85 pct with Rs. 640 mn investment.
- Patel Engg – Jv declared lowest bidder for project of Rs. 10.90 bn, Company’s share at Rs. 2.18 bn.
- Shakti Pumps – Invests Rs. 40 mn in its subsidiary, Shakti EV Mobility, increasing total investment to Rs. 390 mn.
Negative Read through
- Religare Ent – Company secretary & compliance officer resigns with immediate effect.
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