Market Commentary
Global markets – The S&P 500 and the Nasdaq Composite closed green on Monday led by rally in certain chipmaker and technology stocks. Dow closed red by 0.1 pct while Nasdaq jumped 1.2 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,706 | -0.1 | 0.4 |
| Nasdaq | 19,864 | 1.2 | 2.9 |
| Hang Seng | 19,318 | -1.9 | -3.7 |
| Nikkei | 40,264 | 2.4 | 0.9 |
Commodities – Gold trading at steady USD 2,638. On the other hand, oil prices trading slightly lower, Brent crude gained stood at 76.15.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,638 | 0.1 |
| Silver ($) | 29.96 | 0.1 |
| Brent Crude ($) | 76.15 | -0.1 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,115 | 51,805 |
| 100 DMA | 24,618 | 51,759 |
| 200 DMA | 23,907 | 50,688 |
Asian markets – Asian markets trading mixed amid global cues. Hang Seng slipped 1.9 pct While Nikkei trading in positive zone, up by 2.4 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices slipped on Monday led by weaker than expected Q3 business updates and fear of HMPV Virus
Indian ADRs: Infosys (0.5%), ICICI Bank (0.5%) and Dr Reddy’s (-0.1%).
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 77,964 | -1.6 | -0.2 |
| Nifty | 23,616 | -1.6 | -0.1 |
| Nifty Bank | 49,922 | -2.1 | -1.8 |
| Nifty Midcap 100 | 56,366 | -2.7 | -1.5 |
| Nifty Smallcap 100 | 18,425 | -3.2 | -1.8 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -4227 | -4503 |
| DII | 820 | 2533 |
Stocks to watch
Positive Read through
- Kalyan – Q3 consolidated revenue growth at ~39 pct, SSSG at 24 pct YoY.
- Zydus – US FDA nod for filing and priority review of NDA for Menkes drug CUTX-101.
- Bajaj Finserv – Q3 life insurance business total premium up 60 pct MoM.
- Nesco – Highest bidder for wayside amenities project from NHAI, estimated annual revenue Rs. 3.50 bn.
- IGL/BPCL/GAIL – BPCL board gives in-principle nod for IPO of Maharashtra Natural Gas.
- Akzo Nobel – International promoter directs board to start evaluating acquisition offers.
- Bharat Forge – December North America Class 8 truck orders up 39 pct YoY and down 2 pct MoM.
- Zaggle – Enters into customer service agreement with Kiranakart Tech.
- Nuvoco – Resolution professional approves company’s resolution plan for Vadraj Cement.
- Jubilant Food – Company projects 56.2 pct YoY growth in Q3 sales.
Negative Read through
- SH Kelkar – Q3 gross margins were under pressure, net debt rose to Rs. 7 bn.
- NMDC – As per reports, Steel Ministry proposes KIOCL, NMDC merger.
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