Market Commentary
Global markets – US indices closed lower on Wednesday fuelled by new auto tariff that will push inflation higher. Dow closed red by 0.3 pct flat. While Nasdaq slumped by 2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,454 | -0.3 | -0.2 |
| Nasdaq | 17,899 | -2.0 | -7.3 |
| Hang Seng | 23,788 | 1.3 | 18.6 |
| Nikkei | 37,673 | -0.9 | -5.6 |
Commodities – Gold prices rose and stood at USD 3,030 driven by its safe haven appeal. On the other hand, oil prices stood at USD 73.84/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,030 | 0.3 |
| Silver ($) | 33.69 | 0.3 |
| Brent Crude ($) | 73.84 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 22,990 | 49,190 |
| 100 DMA | 23,499 | 50,356 |
| 200 DMA | 24,079 | 50,992 |
Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng jumped by 1.3 pct as Wall Street bank turned bullish on Chinese stocks. While Nikkei trading lower by 0.9 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as Gift Nifty indicates. Benchmark indices closed lower on Wednesday as profit booking and US Reciprocal tariff uncertainties triggered downtick.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,288 | -0.9 | -1.1 |
| Nifty | 23,486 | -0.8 | -0.7 |
| Nifty Bank | 51,209 | -0.8 | 0.7 |
| Nifty Midcap 100 | 51,646 | -0.6 | -9.7 |
| Nifty Smallcap 100 | 15,936 | -1.1 | -15.1 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 2240 | -151,107 |
| DII | -696 | 178,866 |
Stocks to watch
Positive Read through
- Wipro – Bags a USD 650 mn, 10-year digital transformation deal from Phoenix Group.
- Welspun Ent – Bags an order worth Rs. 790 mn from Vadodara Municipal Corporation.
- BSE – To consider a bonus issue on March 30.
- Infosys – Expects a tax refund of Rs. 29.49 bn for AY16-17 and AY19-20.
- Maruti – An Indian employee (Sunil Kakkar) is appointed to the board for the first time.
- STL – Bags a deal for a fiber-to-home network in Belgium from Wyre.
- NHPC – Parbati-II hydroelectric project unit 3 (200 MW) trial run is successful.
- HUL – Appoints Rajneet Kohli as executive director, foods.
- Newgen – Receives LoA for a five-year contract worth USD 1.28 mn.
- NBCC – Signs a strategic MoU with MAHAPREIT for projects worth Rs. 250 bn.
- Bharat Forge – Defence Ministry signs contracts to buy artillery guns and gun towing vehicles for Rs 69 bn.
- Happiest Minds – Expect healthy organic revenue growth in FY26, FY27.
- Polyplex Corp – Unit starts thin film line commercial operations in US.
Negative Read through
- JB Chem – Promoter plans to sell a 10.2 pct stake at Rs. 1,625 per share, a 5 pct discount to CMP.
- TaMo, Samil – The US president announces a 25 pct tariff on cars and auto parts not made in the US.
- Sun Pharma – Promoter creates a pledge on 0.15 mn shares.
- Ashok Leyland – Begins the process to cease Switch UK’s manufacturing unit; promoter pledges 3 mn shares.
- Indian Bank – Receives a Rs. 8.73 bn tax demand for AY17-18.
- Max Fin – Promoter plans to sell a 1.6 pct equity stake at a 0.5 pct discount to CMP.
- Pharma stocks – US said to impose tariffs on Pharmaceutical imports.
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