Market Commentary
Global markets – Dow Jones and S&P 500 broke through their previous high, wrapping up a month green due to Donald Trump’s victory in the presidential election. Dow Jones Jumped 0.4 pct and Nasdaq grew 0.8 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,910 | 0.4 | 19.2 |
| Nasdaq | 19,218 | 0.8 | 28.0 |
| Hang Seng | 19,488 | 0.3 | 14.3 |
| Nikkei | 38,219 | 0.0 | 14.2 |
Commodities – Gold prices went up after the dollar and Treasury yields weakened following the U.S. Thanksgiving holiday. On the other hand, crude oil prices managed to finish the day with a loss of ~1 pct, despite the anticipation that OPEC+ will move the production increases slated for January, which helped alleviate concern about an oversupplied market.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,650 | 0.5 |
| Silver ($) | 30.62 | 1.4 |
| Brent Crude ($) | 72.03 | -0.8 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,665 | 51,886 |
| 100 DMA | 24,700 | 51,598 |
| 200 DMA | 23,651 | 50,009 |
Asian markets Asian markets open green while Hang Seng traded higher by 0.3 pct, Nikkei slightly up by 0.03 as investors searched for new catalysts in the final trading month of the year.
Indian Indices
Indian indices expected to open red as GIFT Nifty trading 10 points below Nifty futures. India’s benchmark indexes took off by almost 1 pct on Friday and were able to recover significantly from their session losses and were able to end the week on a high note owing to surge in heavyweight Reliance Industries and the pharma as well.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 79,802 | 1.0 | 10.5 |
| Nifty | 24,131 | 0.9 | 11.0 |
| Nifty Bank | 52,055 | 0.3 | 7.8 |
| Nifty Midcap 100 | 56,392 | 0.2 | 22.1 |
| Nifty Smallcap 100 | 18,650 | 0.8 | 23.2 |
| Cash | YTD | |
| FII | -4383 | -284,277 |
| DII | 5723 | 498,468 |
Indian ADRs: Infosys (-2.9%), ICICI Bank (-1.4%) and Dr Reddy’s (+0.43%).
Stocks to watch
Positive Read through
- Coal India – Rajmahal area of Easterr coalfields coal add-on price revised higher to Rs. 700/tonne.
- TVS Motor – November auto sales better than estimates, led by exports & EVs.
- Maruti Suzuki – November sales a minor beat, led by SUV segment i.e. grew 20 pct YoY.
- Cochin Shipyard – Bags Rs 10 bn contract from Defence Ministry.
- Ultratech – Adds 0.6 MTPA capacity at Chhattisgarh unit via debottlenecking.
- Aster DM – To merge Blackstone- backed Care Hospital with itself.
- Biocon – Gets US FDA nod for Biocon Biologics’ arthritis drug YESINTEK.
- RVNL – Emerges as lowest bidder for a project worth Rs. 6.43 bn from PSPCL.
- DLF – To sell Kolkata IT Park business to Primarc & RDB Group for Rs 6.37 bn.
Negative Read through
- Eicher Motors – Royal Enfield November sales in- line with estimates, CV sales a drag.
- Tata Motors – November sales in-line with estimates, both PV & CV sales are flat YoY.
- Hero Moto – November wholesales miss estimates, total wholesales fell 6.4 pct YoY.
- RBL Bank/Bajaj Fin – Mutually agree to stop the issuance of new co-branded credit cards.
- Cipla – Promoters may sell up to 1.72 pct equity via block, offer price at 6 pct disc to CMP.
- Moil – Cuts price of ore with manganese content of mn-44 pct & above by 3 pct.
- Hyundai India – Exports drag overall sales in November, falls 21 pct YoY.
- Airlines – Jet fuel price increased by 1.5 pct to Rs 91,856.84/kl in Delhi.
- Home First – Promoters may sell 14.70 pct equity via blocks, floor price at 8 pct disc to cmp.
Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
