Market Commentary
Global markets – The S&P 500 and the Nasdaq Composite both set new records Monday as markets made sense of manufacturing sector data for November and comments made by Federal Reserve officials. However, Dow Jones fell 0.3 pct and Nasdaq jumped 1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,782 | -0.3 | 18.8 |
| Nasdaq | 19,403 | 1.0 | 29.3 |
| Hang Seng | 19,555 | 0.0 | 14.3 |
| Nikkei | 39,180 | 1.7 | 17.1 |
Commodities – Gold prices slip back after the dollar and Treasury yields strengthening. On the other hand, crude oil prices fell ~0.2 amid mixed market indicators due to OPEC+ Meeting’s uncertain outcome.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,638 | -0.4 |
| Silver ($) | 30.49 | -0.4 |
| Brent Crude ($) | 71.88 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,643 | 51,873 |
| 100 DMA | 24,700 | 51,595 |
| 200 DMA | 23,663 | 50,041 |
Asian markets Asian markets open green on the back of the supportive overnight global cues while Hang Seng traded higher by 0.0 pct, Nikkei jumped up by 1.7 pct as tech stocks leads the charge.
Indian Indices Indian indices Indian shares are set to open higher on Tuesday, tracking other Asian peers. On Monday India’s benchmark indexes rose for 2nd straight day, ends 0.6 pct up despite slower Q2 GDP print.
Indian ADRs: Infosys (-0.59%), ICICI Bank (-0.03%) and Dr Reddy’s (+1.13%).
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,248 | 0.6 | 11.1 |
| Nifty | 24,276 | 0.6 | 11.7 |
| Nifty Bank | 52,109 | 0.1 | 7.9 |
| Nifty Midcap 100 | 57,000 | 1.1 | 23.4 |
| Nifty Smallcap 100 | 18,845 | 1.0 | 24.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -238 | -284,515 |
| DII | 3588 | 502,056 |
Stocks to watch
Positive Read through
- Protean – Bags an order worth Rs. 1.61 bn from CERSAI.
- Godrej Props – Gets 4x response to QIP, net debt-to-equity ratio improved to below 0.2:1.
- BPCL/Coal India – Sign non-binding MoU to set up coal-to- synthetic natural gas project.
- Torrent Power – To raise up tο Rs. 35 bn via QIP, issue price Rs. 1,503/sh.
- Indoco – Enters into a strategic distribution partnership with Clarity Pharma, UK.
- Pricol – To acquire Sundaram Auto Components’ injection moulding business for Rs. 2.15 bn.
- Nazara Tech – Announces 5 investments of Rs. 1.96 bn across gaming & entertainment.
- Safari Ind – Commences production at new luggage facility in Jaipur.
- MOIL – Best-ever November sales, jumped 32 pct YoY at 1.33 lakh tonnes.
- Waaree Energy – Received new orders for supply of modules.
- Tata Consumer – Plans to open 1,000 Starbucks cafes in India by FY28, As per management.
- Solar Ind – Received export orders of Rs. 20.39 bn for Supply of Defence Products.
- KPI Green – Bags order worth Rs. 13.11 bn from Coal India.
- Allied Blenders – Expecting 40 pct volume growth from its premium segment in H2FY25.
Negative Read through
- Indegene – CA dawn to sell up to 2.9 pct stake via blocks, Floor price at Rs. 615/share.
- Tobacco Co’s – Government expected to hike GST rate to 35 pct from 28 pct.
- VBL – Aerated Beverages GST expected to rise to 35 pct.
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.
