Market Commentary
Global markets – US indices closed green on Wednesday after positive Fed rate decision. Dow closed positive by 0.9 pct while Nasdaq jumped by 1.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 41,964 | 0.9 | -1.4 |
| Nasdaq | 17,750 | 1.4 | -8.1 |
| Hang Seng | 24,524 | -1.0 | 22.3 |
| Nikkei | 37,751 | -0.2 | -5.4 |
Commodities – Gold prices rose and stood at USD 3,047 after Fed Signals 2 rate cuts in 2025. On the other hand, oil prices stood at USD 71.06/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,047 | -0.1 |
| Silver ($) | 33.80 | 0.1 |
| Brent Crude ($) | 71.05 | 0.3 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 22,981 | 48,984 |
| 100 DMA | 23,541 | 50,381 |
| 200 DMA | 24,061 | 50,947 |
Asian markets – Asian markets trading mixed in the early morning trade Hang Seng slipped by 0.2 pct. While Nikkei closed lower by 0.2 pct.
Indian Indices – India’s equity benchmarks are likely to open positive as Gift Nifty indicates. Benchmark indices extended gains for 3rd straight sessions supported by gains in heavy weights stocks.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 75,449 | 0.2 | -3.4 |
| Nifty | 22,907 | 0.3 | -3.1 |
| Nifty Bank | 49,702 | 0.8 | -2.3 |
| Nifty Midcap 100 | 50,817 | 2.6 | -11.2 |
| Nifty Smallcap 100 | 15,747 | 2.4 | -16.1 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1096 | -172,485 |
| DII | 2140 | 188,571 |
Stocks to watch
Positive Read through
- Antony Waste – Bombay HC dismisses NMMC plea to set aside arbitral award to company.
- Voltas – To focus on profit expansion through value engineering vs price hike.
- Indian Bank – Board meeting today to consider fund-raising proposal.
- NCC – Gets LoA for an order worth Rs. 21.29 bn from Andhra Pradesh Development Authority.
- Wipro – Brings Sovereign Ai Services with Nvidia Ai to Governments and Enterprises around the World.
- Hyundai – To hike prices by 3 pct effective April 2025.
- Jyoti Structures – Company’s order book at over Rs. 18 bn.
- Manappuram Fin – Board meeting today to consider fund-raising proposals.
- IGI – Demand for certified diamonds & gemstones expanding beyond the traditional market.
- MazDock – Commenced production Plate Cutting ceremony for the first AIP system for Scorpene class Submarines.
- Indegene – Company expands European presence with new center in London.
- NCL Ind – Received a letter from promoters for the acquisition of shares through the open market.
- Gold Financing Stocks – Safe-haven demand drives gold prices above USD 3,050 per ounce.
Negative Read through
- Paytm – Government’s FY25 incentives for low-value UPI transactions are lower than last year’s.
- IOB – To launch QIP to raise up to Rs. 20 bn, indicative price Rs. 40.57/share.
- SBFC – Promoter sells nearly 1.3 pct stake in company for Rs. 1.12 bn via block deals.
- Ola Electric – Heavy Ind Min seeks details from Ola Electric about mismatch in sales & registration.
- Wire and Cable stocks – Adani Enterprises completes incorporation of JV Praneetha Ecocables with Praneetha Ventures to enter in W&C business.
Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
