Morning Cuppa 16th March: Indian Markets, Global Markets and Commodity Update

Market Snapshot

Nifty- 23,131 (-2.06%)
Sensex- 74,563 (-1.93%)
FII: -10716 Cr
DII: +9977 Cr
GIFT nifty 23,350

Bond Market

10Y G-sec increased by 1bps and closed at 6.68%

Costlier oil could lift inflation, slow India’s growth in H1FY27: Fitch
India gains most from US nod to Russian oil imports, but concerns remain
India’s forex reserves down $11.7 bn at $716.8 bn on drop in foreign assets

Corporate Updates

• Hindalco halts production of extruded aluminium products due to Iran war
• JSW Steel announces 850 MT Minas de Revuboè coking coal mining project in Mozambique
• Bajel Projects secures ₹700 crore power transmission project in Maharashtra
• Dr Reddy’s partner Immutep told to halt phase III trial of lung cancer drug eftilagimod alfa

Currency Market

• USD/INR at 92.45
• DXY at 100.36
• EUR/USD at 1.1416
• GBP/USD at 1.3226
• USD/JPY at 159.73

Global Markets

US: Dow -0.26%, S&P 500 -0.61%, Nasdaq -0.93%
Europe: FTSE -0.43%, DAX -0.60%, CAC -0.91%
Asia: Nikkei -1.16%, Hang Seng -0.98%, Shanghai -0.82%

Commodities

• Brent $103.14/bbl (+2.67%), Gold $5,019/oz (-1.20%)
• US crude prices back above $100 a barrel amidst concerns over Kharg island
• Gold slips and heads for second consecutive weekly fall