Market Bizzz

Oil prices are up sharply as the new financial year begins. Supply issues and damage from the Iran-US war are pushing prices higher. However, leaders from both countries have expressed optimism about ending the conflict soon. This could impact future oil prices, though some analysts expect them to remain elevated.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources.

Tipco Engineering’s SME IPO is set for its stock market debut with a flat listing expected, as indicated by a 0% grey market premium. Despite moderate overall subscription, retail investor interest was subdued, while QIBs and NIIs showed stronger participation. The company’s robust financials and integrated manufacturing capabilities suggest a focus on medium-term fundamentals rather than immediate listing gains.

Indian stock markets are poised for a potential rebound tomorrow following a significant sell-off, buoyed by positive signals from GIFT Nifty and declining oil prices. Reports suggest a potential de-escalation in US-Iran tensions, while a dip in US bond yields offers further support. Despite this optimism, foreign investor outflows and a weakening rupee warrant caution.

Gold prices saw a slight uptick on Tuesday, buoyed by a weaker dollar. However, the precious metal is on track for its worst monthly performance in over 17 years. Soaring energy prices have dampened expectations for a U.S. interest rate cut this year, impacting gold’s trajectory.

The Indian Rupee experienced a significant drop, breaching the 95 per dollar mark. This marked the steepest decline in 14 years, with the last month being particularly challenging. Despite early gains, strong dollar demand from oil companies and importers pushed the currency to record lows. The Reserve Bank of India intervened to help the rupee close at 94.

Five Nifty 200 stocks, including BSE and SBI, closed over 1% below their VWAP on March 27, signalling potential bearish momentum. A drop below VWAP indicates increased selling pressure, as prices settle below the day’s volume-weighted average, often seen as a key technical indicator for short-term market direction.

Oil prices surged Monday as Yemeni Houthis attacked Israel, escalating the Middle East conflict. Brent crude neared record monthly gains, driven by fears of disrupted shipping lanes in the Red Sea and Bab el-Mandeb. Saudi exports are rerouting, with potential disruptions impacting global supply. Ceasefire talks are underway amidst rising tensions.

The Indian rupee is expected to rally as the Reserve Bank of India imposed curbs on onshore position limits, requiring banks to cap net open rupee positions at $100 million. This move will prompt dollar selling by banks to unwind arbitrage trades, which had exploited the spread between onshore and NDF markets.

Foreign institutional investors (FIIs) offloaded domestic equities worth Rs 1,13,810 crore in March, extending their selling trends amid the Iran-Israel war. So far, this year, they have offloaded Indian shares worth Rs 1,27,157 crore.