Market Commentary
Global markets – The US indices ended mixed on Wednesday due to Fed meeting minutes. Dow closed higher by 0.3 pct while Nasdaq fell 0.1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 42,635 | 0.3 | 0.2 |
| Nasdaq | 19,478 | -0.1 | 0.9 |
| Hang Seng | 19,322 | 0.2 | -3.7 |
| Nikkei | 39,678 | -0.8 | -0.5 |
Commodities – Gold trading at USD 2,648, halting two days of gains. On the other hand, oil prices fell and stood at USD ~76 led by latest report from EIA.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 2,660 | -0.0 |
| Silver ($) | 30.13 | 0.2 |
| Brent Crude ($) | 75.99 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,091 | 51,758 |
| 100 DMA | 24,609 | 51,763 |
| 200 DMA | 23,923 | 50,722 |
Asian markets – Asian markets trading Mixed. Hang Seng rose 0.2 pct While Nikkei trading lower by 0.8 pct as investors book profits.
Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices slipped on Wednesday as Worries over growth in corporate profits.
Results Today – TCS, Tata Elxsi
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 78,148 | -0.1 | 0.0 |
| Nifty | 23,688 | -0.1 | 0.2 |
| Nifty Bank | 49,835 | -0.7 | -2.0 |
| Nifty Midcap 100 | 56,270 | -1.1 | -1.6 |
| Nifty Smallcap 100 | 18,365 | -1.6 | -2.2 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -3362 | -11,932 |
| DII | 2716 | 12,614 |
Stocks to watch
Positive Read through
- BHEL – Commissions Unit-1 and 2 of 6×170 MW Punatsangchhu-II hydroelectric project in Bhutan.
- Manappuram – RBI lifts restrictions imposed on Asirvad Micro Finance.
- Tata Motors – JLR Q3 wholesales up 3 pct, retail sales down 3 pct YoY.
- Lupin – US FDA classifies Pithampur Unit-1 as VAI, issues EIR indicating closure of inspection.
- Zen Tech – Patent granted for T-72 Containerized Crew Gunnery Simulator System.
- PN Gadgil – Q3 consolidated sales growth at 24 pct, retail sales jumped 42 pct YoY.
- Borosil Renewables – Announces a 50 pct capacity expansion in manufacturing of solar glass.
- Anand Rathi – To mull bonus issue of shares on January 13 board meeting.
- Transaral – Rating agency upgrades company’s long-term credit rating.
- ACME Solar – Commisions 90 MW of solar power capacity in Rajasthan.
- Caplin Point – Cleared the FDA inspection with zero 483 observations.
- Brigade – Launches mixed use project in Hyderabad, eyes Rs. 33 bn sales.
Negative Read through
- Hindalco – Weak Q3 Novelis results, Adjusted EBITDA at USD 360-370 mn Vs USD 454 mn YoY.
- CDAG/Fusion Fin – DFS secy says, MFIs should strengthen their governance standards.
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.
