Market Commentary
Global markets – US indices closed in green ahead of FED interest rate decision. Dow closed higher by 0.9 pct while Nasdaq rose by 0.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 41,841 | 0.9 | -1.7 |
| Nasdaq | 17,808 | 0.3 | -7.8 |
| Hang Seng | 24,637 | 2.0 | 22.8 |
| Nikkei | 37,943 | 1.5 | -4.9 |
Commodities – Gold prices rose and stood at USD 3,011 as demand for safe haven rises amid global uncertainties. On the other hand, oil prices stood at USD 71.25/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,011 | 0.4 |
| Silver ($) | 33.87 | 0.1 |
| Brent Crude ($) | 71.25 | 0.5 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,013 | 49,006 |
| 100 DMA | 23,572 | 50,418 |
| 200 DMA | 24,058 | 50,940 |
Asian markets – Asian markets trading higher in the early morning trade, largely tracking global peers. Hang Seng jumped by 2.0 pct. While Nikkei trading positive by 1.5 pct.
Indian Indices – India’s equity benchmarks are likely to open gap up as Gift Nifty indicates. Benchmark indices closed positive on Monday on the back of supportive global.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 74,169 | 0.5 | -5.1 |
| Nifty | 22,508 | 0.5 | -4.8 |
| Nifty Bank | 48,354 | 0.6 | -4.9 |
| Nifty Midcap 100 | 48,461 | 0.7 | -15.3 |
| Nifty Smallcap 100 | 14,968 | 0.5 | -20.3 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4488 | -172,083 |
| DII | 6000 | 183,896 |
Stocks to watch
Positive Read through
- Bajaj Finserv – Company & promoter companies to acquire 26 pct from Allianz in General & life Insurance business.
- HUL – Gets CCI nod to acquire Minimalist in Rs. 26.7 bn deal.
- Lemon Tree – Signs a license agreement for 50 room hotel in Bokaro.
- Suryodaya SFB – Promoter, MD & CEO Baskar Babu bought 0.15 mn shares via open market.
- Mannapuram – Board to Meet on 20th March to consider fund raise.
- NBCC – Won Rs. 450 mn order for project management consultancy work.
- IRCON – JV bags EPC contract worth Rs. 19.08 bn, Company’s at Rs. 2.85 bn.
- Morepen Labs – Launches type 2 diabetes drug Empamore.
- AB Realty – Birla Estates debuts in Pune with luxury residential project sales potential of Rs. 27 bn.
- Swiggy – Swiggy Instamart has expanded its quick commerce services to 100 cities across India.
- Star Cement – Subsidiary was chosen as the preferred bidder for a limestone block in Assam.
- V.L. Infraprojects – Secured Rs 263 mn order from Gujarat Urban Development Company Ltd.
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