Market Commentary
Global markets – All three major U.S. indices closed in positive territory as traders overlooked President-elect Donald Trump’s latest threats to hike tariffs on Mexico, Canada, and China. The Dow & S&P 500 hit new all-time highs, gaining 0.28% and 0.57%, respectively, while the Nasdaq also advanced by 0.57%.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,860 | 0.3 | 19.0 |
| Nasdaq | 19,175 | 0.6 | 27.7 |
| Hang Seng | 19,192 | 0.2 | 12.6 |
| Nikkei | 38,165 | -0.7 | 14.0 |
Commodities – Brent Oil has ended slightly in the red extending the previous day’s losses in choppy trade after Israel agreed to a ceasefire deal with Hezbollah, reducing oil’s risk premium. Gold futures settled higher as threats of more trade tariffs from Donald Trump buoyed demand for safe havens, although a spike in the dollar limited any major metal gains.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,623 | 0.3 |
| Silver ($) | 30.98 | 0.4 |
| Brent Crude ($) | 72.45 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,742 | 51,885 |
| 100 DMA | 24,706 | 51,623 |
| 200 DMA | 23,617 | 49,910 |
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Asian markets – Asian markets showed a subdued tone as western markets closed with slight gains. Nikkei traded lower by 0.7 pct while Hang Seng traded higher by 0.2%
Indian Indices – On Tuesday market traded in the choppy range indicating low volatility and indecision among investors. For the second consecutive trading session, the benchmark index Nifty traded within a narrow range of 217 points, closing flat. Today, markets will continue to trade indecisive in absence of any major near-term triggers. Indian ADRs: Infosys (+1.5%), ICICI Bank (-0.6%) and Dr Reddy’s (-1.1%).
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,004 | -0.1 | 10.7 |
| Nifty | 24,194 | -0.1 | 11.3 |
| Nifty Bank | 52,191 | -0.0 | 8.1 |
| Nifty Midcap 100 | 55,914 | 0.0 | 21.1 |
| Nifty Smallcap 100 | 18,265 | 0.8 | 20.6 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1157 | -268,250 |
| DII | 1910 | 482,724 |
Stocks to watch
Positive Read through
- Wipro – Extends relationship with global auto company Marelli for 4 years.
- KMBL – Receives CCI approval to acquire StanChart’s India personal loan book.
- M&M- Launches EVs, BE 6e and XEV 9e, priced at Rs. 72.03 mn and Rs. 2.35 mn, respectively.
- Siemens- Q4 beats expectations on margins; EBITDA and new orders grew 37 pct YoY.
- Ola Electric- Launches new range of scooters & Powerpod priced between Rs. 40,000 and Rs. 65,000.
- Aster DM- To mull preference shares issue, acquiring the remaining stake in Kolhapur hospital.
- Zaggle- Enters referral partnership agreement with Mastercard.
- RailTel- Secures an order worth Rs. 152 mn from Kakinada Smart City.
- RVNL – Company emerged as L1 bidder for contract worth Rs 6.25 bn.
- TCS – secures an extension for processing pensions of 3 mn defense personnel.
- Lumax Auto – Arm acquires 60 pct stake in Greenfuel Energy Solutions for Rs. 1.53 bn.
Negative Read through
- Zee Ent – Arbitral tribunal rejects claim by company and its subsidiary Margo Networks against RailTel.
- Adani Power: Andhra Pradesh likely to suspend Adani Power deal.
- Fusion Fin- CARE places long-term bank facilities rating on watch with negative implications.
- ZF Comm – WABCO Asia to sell 3.5 pct equity via block deal, floor price at a 14 pct discount to CMP.
- Lemon Tree- Terminates Aurika Hotel operations and license agreement with Carnation Hotels and STOA.
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