Market Commentary
Global markets – US benchmark Indices closed in positive territory led by rally in tech stocks and positive cues. Dow closed higher by 0.2 pct, Nasdaq jumped 1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,906 | 0.2 | 13.8 |
| Nasdaq | 19,764 | 1.0 | 31.7 |
| Hang Seng | 20,139 | 1.3 | 18.1 |
| Nikkei | 39,055 | -0.3 | 16.7 |
Commodities – Gold trading in the green zone, amid subdued holiday season trading. On the other hand, Brent crude slipped on surplus demand concern and strong USD.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,616 | 0.2 |
| Silver ($) | 29.69 | 0.2 |
| Brent Crude ($) | 72.86 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,300 | 51,912 |
| 100 DMA | 24,675 | 51,724 |
| 200 DMA | 23,841 | 50,525 |
Asian markets – Asian markets trading mix in the early morning session. Hang Seng up 1.3 pct as mainland buying props up sentiment. While Nikkei fell by 0.3 pct amid quiet holiday trading.
Indian Indices – India’s equity benchmarks are likely to open flat, due to lack of triggers by global cues. Benchmark Indices ended their day in green on Monday backed by softer-than-expected US inflation data eased investor concerns.
Indian ADRs: Infosys (0.2%), ICICI Bank (0.6%) and Dr Reddy’s (0.8%).
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,540 | 0.6 | 8.7 |
| Nifty | 23,753 | 0.7 | 9.3 |
| Nifty Bank | 51,317 | 1.1 | 6.3 |
| Nifty Midcap 100 | 57,092 | 0.3 | 23.6 |
| Nifty Smallcap 100 | 18,687 | -0.1 | 23.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -168 | -288,567 |
| DII | 2227 | 517,242 |
Stocks to watch
Positive Read through
- Tata Motors – Tata Capital to raise Rs 150 bn via IPO.
- Oberoi Realty – Development agreement for 81.05 acres of land in Alibaug.
- Bharat Forge – To infuse USD 64.50 mn in America unit for debt repayment.
- MTNL – Board approves voluntary retirement scheme for employees of age 45 years and above.
- Yatharth Hospital – Becomes first JCI-accredited hospital in Uttar Pradesh.
- Whirlpool/PG Electro – In contract manufacturing agreement for select washing machine models.
- Greaves Cotton – Greaves Electric Mobility files DRHP for Rs 10 bn crore IPO.
- Symphony – Gets highest ever off-season advance collection for new AC models.
- Aurionpro – Acquires a Europe-based consulting firm, Fenixys for Rs 900 mn.
- HG Infra – Arm enters into battery energy storage purchase agreement with NTPC.
Negative Read through
- Goodyear – Operations at Bangladesh Unit stopped due to maintenance.
- SBI Card – November spends down 19.74 pct Vs industry 5 pct growth, average ticket size fell 27 pct.
- Telecom – TRAI recommends introduction of Voice + SMS only packs for prepaid customers.
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