Market Commentary
Global markets – US indices closed with mild gains on Tuesday over latest economic data and comments from Fed governor. Dow closed flat. While Nasdaq rose by 2.3 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,587 | 0.0 | 0.1 |
| Nasdaq | 18,271 | 0.5 | -5.4 |
| Hang Seng | 23,423 | 0.3 | 16.8 |
| Nikkei | 37,890 | 0.3 | -5.0 |
Commodities – Gold prices rose and stood at USD 3,022 over tariff uncertainties. On the other hand, oil prices stood at USD 73.26/bbl over supply concern.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,023 | 0.1 |
| Silver ($) | 33.76 | 0.2 |
| Brent Crude ($) | 73.26 | 0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 22,983 | 49,138 |
| 100 DMA | 23,506 | 50,357 |
| 200 DMA | 24,078 | 50,985 |
Asian markets – Asian markets trading higher in the early morning trade amid mixed global cues. Hang Seng rose by 0.3 pct. While Nikkei trading higher by 0.3 pct.
Indian Indices – India’s equity benchmarks are likely to open flat to positive as Gift Nifty indicates. Benchmark indices closed flat after rallying 6 straight sessions as gains in technology stocks offset weakness in banking, metals, and pharma sectors.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,017 | 0.0 | -0.2 |
| Nifty | 23,668 | 0.0 | 0.1 |
| Nifty Bank | 51,607 | -0.2 | 1.5 |
| Nifty Midcap 100 | 51,969 | -1.1 | -9.1 |
| Nifty Smallcap 100 | 16,108 | -1.6 | -14.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 5371 | -153,348 |
| DII | -2768 | 179,563 |
Stocks to watch
Positive Read through
- Siemens – NCLT approves energy business demerger into Siemens Energy India.
- Telcos – TRAI recommends widening infrastructure sharing both active and passive.
- Arvind Smart – Sells 200 plots with a booking value of over Rs. 1.80 bn in Bengaluru.
- JP Assoc Lenders (SBI ICICI Bank) – 26 suitors submit expressions of interest including Adani Group JSPL and Vedanta.
- Federal Bank – To acquire an additional 4 pct stake in Ageas Federal Life Insurance for Rs. 974 mn.
- Ashok Leyland SML – Is in the race to acquire SML Isuzu, as per reports.
- SIS – Board approves buyback of a 2.6 pct stake worth Rs. 1.50 bn at Rs. 404 per share.
- Welspun Ent – JV bags an order worth Rs. 3.28 bn from BMC.
- Stylam – Government imposes an anti-dumping duty on acrylic solid surface imports from China.
- Zaggle – Completes acquisition of a 38.34 pct stake in Mobileware Tech for Rs. 2285 mn.
- ONGC – To invest Rs. 33 bn in ONGC Green using funds to acquire Ayana Renewable.
- BHEL – Extends technology collaboration agreement with Vogt Power US.
- JSL Stainless – To acquire an additional 5 pct stake in Mynd Solutions for Rs. 1.03 bn.
- NCC – Bags two orders worth Rs. 108.05 bn from BSNL.
Negative Read through
- Maruti – Faces Rs. 29.66 bn tax disallowance; plans to file objections.
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