Market Commentary
Global markets – US indices closed higher on Wednesday, but Trump tariff speech pulled futures lower. Dow rose by 0.6 pct. While Nasdaq grew by 0.9 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,225 | 0.6 | -0.7 |
| Nasdaq | 17,601 | 0.9 | -8.9 |
| Hang Seng | 22,856 | -1.5 | 13.9 |
| Nikkei | 34,673 | -2.9 | -13.1 |
Commodities – Gold prices rose and stood at USD 3,148 over weak dollar and fresh US tariffs. On the other hand, oil prices stood at USD 73.24/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,148 | 0.6 |
| Silver ($) | 33.52 | 0.5 |
| Brent Crude ($) | 73.24 | 0.0 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 23,001 | 49,379 |
| 100 DMA | 23,466 | 50,335 |
| 200 DMA | 24,081 | 51,025 |
Asian markets – Asian markets trading in the red early morning trade replicating US futures. Hang Seng slumped by 1.5 pct. While Nikkei tumbled 2.9 pct.
Indian Indices – India’s equity benchmarks are likely to open gap down as Gift Nifty indicates. Benchmark indices closed higher on Wednesday ahead of US tariffs.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 76,617 | 0.8 | -1.9 |
| Nifty | 23,332 | 0.7 | -1.3 |
| Nifty Bank | 51,348 | 1.0 | 1.0 |
| Nifty Midcap 100 | 52,053 | 1.6 | -9.0 |
| Nifty Smallcap 100 | 16,162 | 1.1 | -13.9 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1538 | -151,789 |
| DII | 2808 | 196,162 |
Stocks to watch
Positive Read through
- BEL – Signs Rs. 5.93 bn order with IAF for maintenance of Akash missile system.
- Pharma cos – US government exempts the sector from reciprocal tariffs.
- Interarch – Bags an order worth Rs. 3 bn.
- Mahindra Life – To redevelop two societies in Mumbai, project value at Rs. 12 bn.
- Maruti – Announces car price hike of 0.3-5.5 pct effective April 8, third hike in 2025.
- Kirloskar Oil – Bags order worth Rs. 2.70 crore from the defence ministry.
- Borosil – To set up manufacturing unit for vacuum insulated stainless steel flasks.
- Lupin – UK arm acquires Renascience Pharma for POUND 12.3 mn.
Negative Read through
- M&M Fin – Q4 disbursals down 5.9 pct, collection efficiency at 97 pct vs 95 pct (QoQ).
- PNB – QoQ deposits growth at a five-quarter low, advances growth weakest in 15 quarters.
- Dabur – FMCG volume trend subdued in Q4, consolidated sales growth may be flat.
- Bharat Forge – North America truck orders for India at a seven-month low.
- Macrotech – Company alleges document forgery by House of Abhinandan Lodha.
- Hero Moto – March sales higher than estimated but continues to underperform peers.
- HZL – Saleable metal production down 1 pct, refined zinc production declines 3 pct YoY.
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