Market Commentary
Global markets – US indices closed flat on Tuesday ahead of Fed Meeting Minutes. Dow closed positive by 0.02 pct while Nasdaq closed higher by 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,556 | 0.0 | 4.7 |
| Nasdaq | 20,041 | 0.1 | 3.8 |
| Hang Seng | 22,939 | -0.2 | 14.4 |
| Nikkei | 39,108 | -0.4 | -2.0 |
Commodities – Gold prices increased and stood at USD 2,927 as demand for safe haven asset rises. On the other hand, oil prices stood at USD 75.85/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,927 | -0.2 |
| Silver ($) | 32.55 | -0.9 |
| Brent Crude ($) | 75.85 | 0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,544 | 50,142 |
| 100 DMA | 24,016 | 50,974 |
| 200 DMA | 24,056 | 50,913 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng fell 0.2 pct. While Nikkei trading in red by 0.4 pct amid weak economic data.
Indian Indices – India’s equity benchmarks are likely to open muted as Gift Nifty indicates. Benchmark indices closed lower on Tuesday over weak Q3FY25 earnings and FII outflows.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,967 | -0.0 | -2.8 |
| Nifty | 22,945 | -0.1 | -3.0 |
| Nifty Bank | 49,087 | -0.3 | -3.5 |
| Nifty Midcap 100 | 49,751 | -0.2 | -13.0 |
| Nifty Smallcap 100 | 15,168 | -1.6 | -19.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 4786 | -115,709 |
| DII | 3072 | 120,443 |
Stocks to watch
Positive Read through
- RVNL – JV bags order for construction of nine stations, value at Rs. 5.54 bn.
- L&T – Acquires remaining 26 pct stake in arm L&T Special Steels for Rs. 1.70 bn.
- Patanjali – Supreme Court dismissed IT department’s plea to raise pre-insolvency process demand of Rs. 1.86 bn.
- Trans & Rect – Bags orders worth Rs. 1.66 bn from Hyosung T&D India.
- TTK Prestige – Board approves commitment of Rs. 5 bn towards operational & capital expenses.
- Varun Beverages – CRISIL upgrades long-term rating to AAA/Stable from AA+/Stable.
- Tata Steel – Neath Port Talbot Council approves plans for electric arc furnace in Port Talbot.
- Mahindra Life – Partners with Livingstone for a redevelopment project in South Mumbai, GDV Rs. 16.50 bn.
- Unichem Lab – ICRA upgrades rating to A+ from A, assigned to Rs. 1.80 bn bank facilities of company.
- Vedanta – Reports suggest company has received creditor approval for demerger plan.
- Lemon Tree – Signs a new property in Madhya Pradesh, to start operations in FY27.
Negative Read through
- Cello World – Fire at Daman, Diu unit controlled, has adequate insurance.
- Aurobindo – US FDA issues 5 observations on pre-approval inspection for an Andhra unit.
- PNB – Borrower fraud of Rs. 2.70 bn reported to RBI, already provided for.
- Allcargo Gati – January volumes slipped 12 pct MoM & up 2 pct YoY.
- Piramal Pharma – US FDA issues Form 483 with 6 observations for Turbhe facility.
- IRB Infra – Promoter creates pledge on 1.42 mn shares in favour of Bajaj Fin Sec.
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