Morning Cuppa 17th March: Indian Markets, Global Markets and Commodity Update

Market Snapshot

Nifty- 23,408 (+1.11%)
Sensex- 75,502 (+1.26%)
FII: -9365 Cr
DII: +12593 Cr
GIFT nifty 23,450

Bond Market

10Y G-sec increased by 2bps and closed at 6.70%

WPI inflation at 11-month high of 2.13% in February, shows govt data
India’s merchandise exports in February contracted for the first time in four months, falling 0.8% to $36.61 bn, with officials cautioning that March could remain “challenging”

Corporate Updates

• Reliance Industries shares in focus after $3 billion green ammonia deal with Samsung C&T
• Union Bank of India board approves ₹20,000 crore infrastructure bond plan
• Power Mech wins ₹710 crore contract to run Adani’s Maharashtra power plant
• Bajaj Electricals acquires Morphy Richards brand rights in India, neighbouring markets for ₹141 cr

Currency Market

USD/INR at 92.42
DXY at 99.86
EUR/USD at 1.1505
GBP/USD at 1.3320
USD/JPY at 159.07

Global Markets

US: Dow +0.83%, S&P 500 +1.01%, Nasdaq +1.22%
Europe: FTSE +0.55%, DAX +0.50%, CAC +0.31%
Asia: Nikkei +1.19%, Hang Seng +1.45%, Shanghai -0.26%

Commodities

Brent $100.21/bbl (-3.55%), Gold $5,006/oz (+0.17%)
Oil prices fall after more than 40% surge on Iran conflict

Gold prices steady above $5,000/oz with Iran war, central banks in focus