Market Commentary
Global markets – US indices closed mixed on Monday over recession worries. Dow closed higher by 1 pct., while Nasdaq fell by 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,001 | 1.0 | -1.3 |
| Nasdaq | 17,299 | -0.1 | -10.4 |
| Hang Seng | 23,349 | 1.0 | 16.4 |
| Nikkei | 35,825 | 0.6 | -10.2 |
Commodities – Gold prices rose and stood at USD 3,041 as demand for safe haven commodity rises. On the other hand, oil prices stood at USD 74.92/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,143 | 0.6 |
| Silver ($) | 34.16 | 0.2 |
| Brent Crude ($) | 74.92 | 0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,002 | 49,292 |
| 100 DMA | 23,487 | 50,358 |
| 200 DMA | 24,082 | 51,010 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading lower by 1.0 pct. While Nikkei trading red by 0.6 pct.
Indian Indices – India’s equity benchmarks are likely to open gap down as Gift Nifty indicates. Benchmark indices closed lower on Friday amid US Tariff and inflation concerns.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,414 | -0.2 | -0.9 |
| Nifty | 23,519 | -0.3 | -0.5 |
| Nifty Bank | 51,564 | -0.0 | 1.4 |
| Nifty Midcap 100 | 51,672 | -0.3 | -9.7 |
| Nifty Smallcap 100 | 16,095 | -0.1 | -14.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4352 | -144,349 |
| DII | 7646 | 189,031 |
Stocks to watch
Positive Read through
- HAL – The Defence Ministry signs two contracts with the company worth Rs. 627 bn.
- HUDCO – FY25 loan sanctions up 55 pct, disbursements jumped 122 pct YoY.
- L&T Tech – Bags a € 50 mn deal from a European automotive OEM.
- IREDA – Q4 loans grew 27.7 pct YoY, sanctions up 23.7 pct QoQ.
- Voda Idea – Government converts Rs. 369.50 bn spectrum dues to equity, increasing its stake to 49 pct.
- LTIMindtree – Partners with Google Cloud on AI-driven business transformation.
- ITC – Acquires Century Pulp & Paper for Rs. 35 bn from AB Realty.
- Godrej Properties – Sells homes of Rs. 20 bn at the launch of its luxury project in Noida.
- JSW Steel – Successful bidder for Dugda Coal Washery.
- GMR Airports – AERA increases aeronautical tariff for Delhi Airport by 148 pct.
- PG Electroplast – Company expects 30-35 pct growth in next financial year.
- Gail – To Get Pipeline Tariff Boost, Margins to Rise by Rs. 34 bn, as per reports.
- Electronic goods stocks – Cabinet approves Rs. 229.19 bn electronics PLI scheme.
- SRF – Announced the commissioning & capitalization of its Belting Fabric Operations project.
Negative Read through
- Indigo – The Income Tax department imposes a penalty of Rs. 9.44 bn.
- Varun Bev – Acquisition in Ghana remains uncertain, with no extension of the long stop date yet.
- IGL, MGL, GUJ Gas – The government hikes APM gas price by 4 pct to USD 6.75/mmBtu.
- Mphasis – Receives a tax demand order worth Rs. 2.32 crore for AY19 and AY20.
- Syngene – Received an order worth increasing tax demand to Rs/ 1.6 bn.
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