Become a logicalchat Member

Latest Post

How New Financial Technologies (FinTech) are Changing the Way Canadians Bank and Invest

The Canadian financial landscape is undergoing a significant transformation driven by innovative FinTech (financial technology) companies. These companies are leveraging technology to disrupt traditional...

Your story starts here. Sign up and let's connect in ways that truly matter!

HomeLatest NewsIndian NewsMorning Update:-Sensex adds 100 points today, Nifty reaches record high; Tata Steel...

Morning Update:-Sensex adds 100 points today, Nifty reaches record high; Tata Steel and JSW Steel plunge after CLSA downgrade.

Morning Update :Benchmark indices continued their upward trend, earning slight gains at the open. Positive signs from global markets, as well as optimism fueled by India’s better-than-expected GDP growth in the third quarter last week, helped morale.

ISensex – Rise  +55 Points at  73,863

Nifty 50 – Rise  +45 Points at 22,362

 Indian Market 

FII AND DII 

FII Sold   81.87 Cr
DII Sold 44.71 Cr
on last session

 Indian Market News

  1. The dollar trades marginally lower.
  2. The Nasdaq reaches a new all-time high, while the S&P 500 closes above 5,100 for the first time.
  3. OPEC+ continues production cuts till mid-year; Brent exceeds $84 per barrel.
  4. Nikkei leads in Asian markets, reaches new record high.
  5. This week, 8 IPOs will open for subscriptions, including 7 listings.
  6. CLSA downgrades Tata Steel and JSW Steel.
  7. GIFT Nifty suggests a muted start
  8. Biocon signs a deal with Bayer and Regeneron Pharma
  9. Railtel receives work order for Rs 87.85 crore from the State Transport Authority of Odisha.
  10. AdaniPorts February cargo volumes are up 33% YoY at 35.4 mt.

Global Markets updates

GIFT Nifty

The GIFT Nifty, which gained 6 points or 0.02 percent, suggests that the Indian stock market is off to a muted start. The Nifty futures closed at 22,502 on the last day.

News Updates

At record highs, the NASDAQ Composite and S&P 500

On March 1, the US major averages S&P 500 and NASDAQ Composite indices closed at all-time highs of 5,137 and 16,275, respectively, rising by up to 1 percent. The huge profits of Dell and NetApp, which supply the infrastructure needed to power and store related data from generative AI, accounted for a large portion of the gains. On March 1, the Dow Jones Industrial Average finished at 39,087, up 0.23 percent.

Japan’s Nikkei 225 breaks the 40,000 barrier and reaches a new record high.

Nikkei 225 index in Japan broke above the 40,000 barrier this morning, rising almost 1% to record an all-time high following new highs for the S&P 500 and the tech-heavy NASDAQ Composite indices on March 1. The more general Topix index rose 0.4 percent to reach new highs and cross the 2,700 barrier.

OPEC+ keeps reducing output until the middle of the year; Brent crosses $84 per barrel.

On March 4, oil prices saw a small increase in Asian trade following the announcement by OPEC+ that it will continue to reduce production until the second quarter. While West Texas Intermediate (WTI) Crude gained 0.3 percent to trade around $80 per barrel, Brent Crude increased by 0.4 percent to trade at $84 per barrel.

A two-month high in gold is expected to lead to earlier rate reduction.

On March 1, gold prices reached a two-month high as dovish economic data supported forecasts of US interest rate reduction. On March 1, spot gold reached its highest level since late December, rising 2.1 percent to $2,086.21 per ounce. It was expected to gain for a second straight week. US gold futures, meanwhile, ended the day at $2,095.7, up around 2%.

7 listings and 8 IPOs will go live for subscriptions this week.

The week beginning on March 4 will see continued activity on the main market as seven businesses are slated to list on the bourses and eight IPOs are planned to open for subscription. The eight firms slated for an initial public offering (IPO) aim to raise a total of Rs 1,483.2 crore.

The subscription period for the initial public offerings (IPOs) of RK Swamy, JG Chemicals, Gopal Snacks, VR Infraspace, Sona Machinery, Shree Karni Fabcom, Koura Fine Diamond Jewellery, and Pune e-Stock Broking will begin. Conversely, the following companies will make their exchange debuts: MVK Agro Food Product, Purv Flexipack, Owais Metal and Mineral Processing, Mukka Proteins, Exicom Telesystems, Bharat Highways Infrastructure Investment Trust, and Platinum Industries.

Stocks in news

Swan Energy: The subsidiary Swan LNG has fully reimbursed its consortium of banks for the Rs 2,206 crore loan, including interest. The group’s current external debt is Rs 1,675 crore, down from Rs 4,128 crore in September.

Information Edge of India: The internet business announced that the Google Play Store has restored access to its mobile applications, Naukri Jobseeker, Naukrigulf Job Search App, and 99acres Buy/Sell/Rent Property.

MOIL: Sales of 1.56 lakh tonnes were 18% higher than the same month last year, while the state-owned manganese ore mining business had its best-ever production of 1.51 lakh tonnes in February, up 15% YoY.

Gujarat Ambuja Exports: At its Malda, West Bengal, location, the business has put a 120 TPD liquid glucose unit into service. With this increase, the five locations’ combined liquid glucose capacity now stands at 900 TPD.

Patel Engineering: In Khammam City, Telangana, the company won a Letter of Acceptance (LOA) for an RCC Protection Wall Project valued at Rs 525.36 crore, along with a joint venture partner. Patel Engineering has a 267.93 crore share in the deal.

Must read book about investing – check here 

Read more Check the latest news Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update Morning Update

Related Post