Market Commentary
Global markets – US indices closed higher on Monday fuelled by uptick in service sector data. Dow closed positive by 1.4 pct. While Nasdaq jumped by 2.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,583 | 1.4 | 0.1 |
| Nasdaq | 18,188 | 2.3 | -5.8 |
| Hang Seng | 23,403 | -2.1 | 16.7 |
| Nikkei | 37,881 | 0.7 | -5.0 |
Commodities – Gold prices fell and stood at USD 3,010 as Trump eased tariff threats. On the other hand, oil prices stood at USD 72.96/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,010 | -0.0 |
| Silver ($) | 33.07 | 0.1 |
| Brent Crude ($) | 72.96 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 22,973 | 49,069 |
| 100 DMA | 23,513 | 50,360 |
| 200 DMA | 24,074 | 50,974 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng tumbled by 2.1 pct amid concerns over U.S. recession risks and China’s deflation threat. While Nikkei trading up by 0.7 pct.
Indian Indices – India’s equity benchmarks are likely to open flat to positive as Gift Nifty indicates. Benchmark indices extended gains 6 straight sessions driven by Banks and Energy stocks.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,984 | 1.4 | -0.2 |
| Nifty | 23,658 | 1.3 | 0.1 |
| Nifty Bank | 51,704 | 2.2 | 1.7 |
| Nifty Midcap 100 | 52,524 | 1.3 | -8.2 |
| Nifty Smallcap 100 | 16,363 | 1.1 | -12.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 3055 | -158,719 |
| DII | 98 | 182,332 |
Stocks to watch
Positive Read through
- Tata Cons – Shareholders approve the re-appointment of Sunil D’Souza as MD and CEO.
- Brigade Ent – Acquires 4.4-acre land in Bengaluru, with a gross development value of Rs. 9.50 bn.
- Garden Reach – Secures an order worth USD 108 mn from German company Carsten Rehder.
- Hyundai Motor – Plans to invest Rs. 6.94 bn to establish and operate a tooling center in India.
- Godrej Prop – Sells homes worth over Rs. 10 bn at the launch of its first project in Hyderabad.
- HCLTech – Partners with a Western firm for transformation in financial services in India.
- EaseMyTrip – Forays into the charter aviation market, acquiring a 49 pct stake in Big Charter.
- India Pesticides, Insecticides – DGTR recommends anti-dumping duty on pretllachlor imports.
- Ola Elec – Settles all applicable dues with vehicle registration service provider Rosmerta Group.
- Cholamandalam Invst – Appoints Vellayan Subbiah as executive chairman for five years.
- IFB Ind – Anti-dumping duty imposed on imports of roller chains from China.
- Alkyl Amines – DGTR recommends anti-dumping duty on imports of acetonitrile.
- IREDA/Banks – RBI releases revised PSL guidelines, broadening the classification of RE loans.
- RVNL – Emerges as the lowest bidder for a central railway project worth Rs. 1.16 bn.
Negative Read through
- Punjab & Sind BK – To raise up to Rs. 16 bn via QIP, with an indicative price of Rs. 38.37 per share.
- ONGC/OMCs – The US to impose a 25 pct tariff on countries buying oil from Venezuela starting April 2.
- Britannia – Operations at Gujarat’s Jhagadia plant are partially affected due to a worker strike.
- SBI Life – Receives an income tax and penalty order of Rs. 4.31 bn.
- Central BK – May raise up to Rs. 20 bn via QIP, with an indicative price of Rs. 40.49 per share.
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