Market Commentary
Global markets – The S&P 500 and Nasdaq hit record highs on Tuesday, driven by tech gains as investors awaited jobs data. However, Dow Jones fell 0.2 pct and Nasdaq grew 0.4 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 44,705 | -0.2 | 18.6 |
| Nasdaq | 19,480 | 0.4 | 29.8 |
| Hang Seng | 19,759 | 0.1 | 15.9 |
| Nikkei | 39,076 | -0.4 | 16.8 |
Commodities – Gold remained above $2,640 per ounce as markets evaluated political and monetary developments alongside key economic data. On the other hand, Brent crude oil futures rose as OPEC+ signaled extended output cuts and the U.S. imposed new sanctions on Iranian oil.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,646 | 0.1 |
| Silver ($) | 31.00 | 0.0 |
| Brent Crude ($) | 73.67 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,624 | 51,866 |
| 100 DMA | 24,700 | 51,596 |
| 200 DMA | 23,678 | 50,081 |
Asian markets – Asian equities opened cautiously, weighed down by political turmoil in South Koreawhile Hang Seng traded slightly up by 0.1 pct, Nikkei slipped by -0.4 pct.
Indian Indices – Indian equities are expected to open flat, with consolidation likely throughout the day. On Tuesday India’s benchmark indexes rose for 3nd straight day, ends 0.7 pct led by rally in banking stocks.
Indian ADRs: Infosys (-0.4%), ICICI Bank (+1.2%) and Dr Reddy’s (0.0%).
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,845 | 0.7 | 11.9 |
| Nifty | 24,457 | 0.7 | 12.5 |
| Nifty Bank | 52,695 | 1.1 | 9.1 |
| Nifty Midcap 100 | 57,509 | 0.9 | 24.5 |
| Nifty Smallcap 100 | 19,003 | 0.8 | 25.5 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 3664 | -280,851 |
| DII | -250 | 501,805 |
Stocks to watch
Positive Read through
- PNB Hsg – Target retail loan book at Rs. 1 trillion by FY27, retail credit demand to rise 17 pct.
- Wipro – Partners with Netskope to offer cybersecurity optimisation advisory services.
- Honasa – Chief Varun Alagh increases his stake in company tο 31.93 pct, invests Rs. 45 mn.
- HAL/BEL – DAC approves 5 capital acquisition proposals worth Rs. 217.72 bn.
- RVNL – Gets LoA for a project worth Rs. 1.87 bn from East Central Railway.
- IEX – November traded volume grew 15.7 pct YoY, day-ahead market volume rose 9.8 pct YoY.
- Swiggy – Target profitability on consolidate basis by Q3FY26, food delivery business can grow 18-22 pct.
- Reliance Power – SECI withdraws debarment notice against company.
- Wonderla – Launches QIP to raise funds, floor price Rs. 829.74/share.
- Kaynes – Acquires a 54 pct stake in Sensonic GmbH.
- Artson- Taken additional premises adjacent to its existing Nashik facility.
- Nitiraj Engineers – Authorized as Drone-Remote Pilot Training Organization by DGCA.
- VL Infra – Secured a Rs. 152 mn work order from Mayfair Supreme Private Limited.
Negative Read through
- Epack – Special intelligence & investigation branch, custom department search at Bhiwandi Facility.
- Infoedge – Job speak index in November since Dec 2023, declined 11 pct MoM.
- 3i Infotech – Company’s Saudi subsidiary faces Rs 257 mn tax issue.
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