The GIFT Nifty was flat at 25,855 points as of 7:30 a.m., indicating a steady open for the benchmark Nifty 50.
Asia Market Update
Stocks advanced in Asia after a rebound in tech and robust economic data boosted US equities. The MSCI Asia Pacific Index climbed as much as 0.6%, led by South Korea whose tech-heavy benchmark rose to a record.
- Nikkei up 0.7%
- Kospi up 2.4%
- S&P/ASX 200 flat
ALSO READ: Asian Stocks Rise After Tech Boosts US Equities: Markets Wrap
Wall Street Market Recap
US equities rose Wednesday as a batch of reports confirming the strength of the world’s largest economy and a number of developments at the Big Tech giants reignited Wall Street’s excitement for the group. The S&P 500 Index gained 0.6%, while the technology-heavy Nasdaq 100 Index rallied 0.8%.
Commodities Check
Oil steadied after its biggest daily gain since October, following a report that American military intervention in Iran could come sooner than expected. Brent held above $70 a barrel after adding 4.3% on Wednesday, while West Texas Intermediate traded near $65.
Gold steadied, after jumping 2% on Wednesday, with some Asian markets closed for Lunar New Year holidays and traders focused on the Federal Reserve’s next move on interest rates. Spot gold edged down 0.2% to $4,969 an ounce in Singapore. Silver slipped 0.2% to $77.
ALSO READ: Oil Holds Near Two-Week High As Iran Conflict Fears Roil Markets
India Market Recap
Indian equity benchmarks extended gains for the third consecutive trading session, led by the gains in Reliance Industries Ltd. and ITC Ltd. The BSE Sensex rose nearly 300 points to end at 83,734.25, while the NSE Nifty 50 rose 0.4% to end above 25,800. The broader markets — represented by the NSE Nifty 500 Index — outperformed benchmark indices, led by the 20% rally in Godfrey Phillips’ stock.
Stocks In News
- Bharat Forge: The company signs an MoU with VVDN Technologies to collaborate on strategic solutions for the automotive, defence, and data centre markets.
- BL Kashyap and Sons: The company secures a Rs 300 crore order from CRC Greens for the construction of civil works.
- Ceigall India: The company’s Haryana project achieves a significant milestone with 90.03% physical progress.
- Jindal Saw: The American Petroleum Institute (API) has restricted the company from affixing the API monogram on its seamless pipes.
- TVS Motor: The company reaches a production milestone of one million units in Indonesia.
- DLF: NCLT Chandigarh approves the merger of eight of the company’s arms with another arm, Highvista Buildcon.
- Pace Digitek: The company secures a $1.35 million order from Yaqin Chem for the supply of mobile battery systems.
- DCX Systems: The company and its arm secure combined orders worth Rs 45.4 crore for the supply of cable assemblies and printed circuit assemblies.
- Cupid Limited: The company issues a strong advisory cautioning investors against unauthorized “multibagger” messages being circulated.
- Intellect Design Arena: The company launches “eMACH.ai,” an AI-first banking platform featuring 550 domain-aware agents.
- Mufin Green Finance: The company receives approval for the preferential allotment of over 3.43 crore shares and 76.53 lakh warrants.
- NCC: NHAI has debarred the company and its unit from participating in tenders and bids for a period of two years.
- Omaxe: The company’s arm receives RERA registration certificates for two upcoming projects in Faridabad.
- Tips Music: The Maharashtra GST body conducted a search at the company’s accounts office.
- Tatva Chintan: The company signs a power purchase pact with AMPIN C&I Power Twenty Six to source solar and wind energy in Gujarat.
- Bharat Electronics (BEL): The board will meet on February 27 to consider a second interim dividend for the financial year 2025-26.
- Kajaria Ceramics: The company acquires the remaining 25% stake in Kajaria Adhesive, making it a wholly-owned subsidiary.
- Syngene International: The National Faceless Appeal Centre provides partial relief to the company regarding tax disallowances for multiple assessment years.
- Tejas Networks: The company receives Rs 69.97 crore from the Ministry of Communications under the Production Linked Incentive (PLI) scheme.
- Prestige Estates Projects: The company acquires a 100% stake in Aspire Spaces Tellapur.
- Nucleus Software Exports: The company expands its global footprint by incorporating a new arm in Vietnam.
- Zydus Lifesciences: The company receives US FDA approval for Bosentan tablets, used in treating pulmonary arterial hypertension.
- GNG Electronics: The company enters a distribution pact with Ingram Micro and Supertron Electronics for refurbished computers across India.
- Rossari Biotech: The company invests SAR 8 million in its arm, Rossari International.
- Hindustan Unilever (HUL): The board approves a Rs 2,000 crore investment to expand manufacturing capacity in the Beauty & Wellbeing and Home Care segments.
- Karur Vysya Bank: The bank partners with the University of Madras to launch South India’s first indigenous and endangered languages laboratory.
- CDSL: SEBI approves the appointment of Shri Ganesh Kumar and Shri Rajesh Tuteja as Public Interest Directors.
- Dr. Reddy’s Laboratories: The company signs a $32.15 million pact with Mercury Pharma Group to buy the trademarks “Progynova” and “CycloProgynova.”
- Lumax Auto Technologies: NCLT Delhi approves the amalgamation of Lumax and IAC International Automotive.
- Yatra Online: Promoter THCL Travel Holding Cyprus Limited sells a 1.8% equity stake in the company via the open market.
- Cochin Shipyard: The company signs a contract worth over Rs 2,000 crore with CMA CGM, France, for the manufacture of six feeder container vessels.
- BGR Energy Systems: The company sees a waiver of Rs 606.43 crore under the Rajasthan VAT Amnesty Scheme 2022.
- TIL: Board to meet on Feb 23 to consider fundraise via QIP, rights issue.
Bulk & Block deals
- Cohance Lifesciences: Jasti Family Trust sold 70 lakh shares for Rs 309 per share, Jasum Property Holdings LLP bought 70 Lakh shares for Rs 309 per share
- Capri Global Capital: BNP Paribas Financial Market bought 30.78 lakh shares and Morgan Stanley Asia (Singapore) PTE. sold 30.78 lakh shares for Rs 176.2 per share
Insider trades
- WPIL: V.N.Enterprises Limited, Promoter, revokes pledge of 8,00,000 shares
- Gallantt Ispat: Gallantt Industry Private Limited,Promoter, bought 13,117 shares
- HEG: Redrose Vanijya LLP,Promoter Group, bought 1,90,000 shares
List of securities shortlisted in Short – Term ASM Framework Stage: Quality Power Electric Equipments, Easy Trip Planners.
List of securities to be excluded from ASM Framework: Alpex Solar, GNG Electronics, Goldiam International, Motisons Jewellers.
F&O Cues
- Nifty Feb futures is up 0.34% to 25,827.00 at a premium of 8 points.
- Nifty Options 24th Feb Expiry: Maximum Call open interest at 27,000 and Maximum Put open interest at 24,000.
- Securities in ban period: SAMMAANCAP, SAIL
Currency Check
The rupee rose 5 paise to close at 90.67 (provisional) against the US dollar on Wednesday driven by inflow of foreign funds and positive domestic equity markets.
ALSO READ: Trade Setup For Feb 19: Nifty Resistance Moves To 26,000 Amid Bullish Momentum — Check Key Levels
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