Market Commentary
Global markets – US indices closed higher on Friday over macro uncertainties. Dow closed positive by 0.1 pct. while Nasdaq grew by 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 41,985 | 0.1 | -1.3 |
| Nasdaq | 17,784 | 0.5 | -7.9 |
| Hang Seng | 23,661 | -0.1 | 18.0 |
| Nikkei | 37,676 | 0.0 | -5.6 |
Commodities – Gold prices rose and stood at USD 3,016 over Fed positive stance. On the other hand, oil prices stood at USD 71.84/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,017 | -0.2 |
| Silver ($) | 33.08 | 0.2 |
| Brent Crude ($) | 71.84 | -0.4 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 22,968 | 49,010 |
| 100 DMA | 23,521 | 50,366 |
| 200 DMA | 24,068 | 50,960 |
Asian markets – Asian markets trading mixed in the early morning trade. However, managed to hold marginal gains. Hang Seng fell by 0.1 pct. While Nikkei trading flat.
Indian Indices – India’s equity benchmarks are likely to open flat as Gift Nifty indicates. Benchmark indices extended gains 5 straight sessions led by rally in banking stocks and broader market.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,905 | 0.7 | -1.6 |
| Nifty | 23,350 | 0.7 | -1.2 |
| Nifty Bank | 50,593 | 1.1 | -0.5 |
| Nifty Midcap 100 | 51,850 | 1.4 | -9.4 |
| Nifty Smallcap 100 | 16,184 | 2.1 | -13.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 7470 | -161,775 |
| DII | -3202 | 182,233 |
Stocks to watch
Positive Read through
- Kotak Mah BK – Elevates Bhavnish Lathia as chief technology officer.
- HAL – Settlement with Maha tax department, committee recommends Rs 24.71 bn payment vs disputed Rs 100.79 bn.
- TVS Motor – Shareholders approve re-appointment of Venu Srinivasan as MD.
- M&M – To hike SUV, CV prices by up to 3 pct effective April 1.
- Godrej Props – Acquires 10-acre land parcel in Yelahanka, Bengaluru, sales potential Rs 25 bn.
- Alembic PH – US FDA issues Form 483 with zero observation for API-III unit at Karakhadi.
- Epack – Gets government nod to disburse 2nd incentive under PLI scheme for white goods.
- NMDC – Employees have resumed duties & normal operations have resumed at all projects.
- Ola Electric – Commences deliveries of S1 Gen 3 scooters across India.
- NCC – Gets LoA for a project worth Rs 14.80 bn from Bihar Medical Services Corp.
- Power Mech – Bags order worth Rs 5.79 bn from BHEL.
- Adani Green – Arm commissions solar power project of 250 MW in Rajasthan.
- Railtel – Bags work order worth Rs 250 mn from HPCL.
Negative Read through
- RBA – To raise up to Rs 5 bn via QIP, indicative issue price at Rs 60/share.
- UCO Bank – To raise up to Rs 20 bn via QIP, indicative price Rs 34.27/share.
- Hindalco – Novelis will not have another go at an IPO for at least one more year, amid valuation concerns.
- Rama Steel Tubes – ICRA has downgraded the company’s credit ratings to [ICRA] BBB- (Stable).
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