Morning Update :– Strong global signals lifted Nifty to a new record high of 22,297 on February 23 opening trades, while the Sensex gained over 100 points. Broader markets outpaced benchmarks amid widespread purchasing.
Sensex – rise +116 Points at :- 73,275
Nifty 50 – rise +41 Points at :- 22,258
Indian Market
FII AND DII
| FII Sold | 1,410.05Â Cr |
| DII Bought | Â 1,823.68Cr |
Indian Market News
- Asia-Pacific markets edge higher; Hang Seng and Kospi rise up to 0.7%.
- Rupee falls 2 paise to open at 82.86/$.
- Goldman Sachs downgrades SBI, ICICI Bank and Yes Bank, warning of greater headwinds.
- Nifty reaches new all-time high, Sensex rises 535 points after strong retracement.
- S&P 500 and Dow jump to historic closing highs as Nvidia drives AI mania.
- GIFT Nifty shows a good opening despite strong global trends.
- Kirloskar Ferrous has suspended the small blast furnace at its Hiriyur plant owing to market conditions.
- Macquarie maintains a ‘neutral’ call on Maruti Suzuki, with a target price of Rs 10,608.
- March continues on! Nifty reaches new all-time high of 22,297; Sensex rises 118 points.
- Hero Moto, Titan, and Grasim are the top Nifty 50 gainers at this hour.
Global Markets updates
Asia Markets
Friday saw a little increase in Asia-Pacific markets as investors watched statistics on China’s real estate prices to look for any signs of improvement in the heavily indebted real estate industry.
Oil
The Houthis, who are allied with Iran, increased their strikes in the vicinity of Yemen on Thursday, contributing to the ongoing battles in the Red Sea. However, gains were offset by a significant increase in U.S. crude inventories.
At $83.67 per barrel, Brent crude futures finished the day higher, up 64 cents, or 0.77 percent. At $78.61 a barrel, US West Texas Intermediate oil futures closed up by 70 cents, or 0.9 percent.
News updates
The S&P 500 and Dow rise to all-time closing highs as Nvidia ignites an AI frenzy.
The day after artificial intelligence poster child Nvidia’s stellar profits and forecast, investors flocked to growth and technology stocks, propelling the S&P 500 and Dow Jones Industrial Average to new closing highs on Thursday.
Both the Dow Jones Industrials, which closed at 39,069.11 after climbing 456.87 points, or 1.18 percent, and the S&P 500 ended at a record high, jumping 105.23 points, or 2.11 percent, to 5,087.03. For the first time ever, the Dow closed above 39,000 points.
To reach 16,041.62, the Nasdaq Composite gained 460.75 points, or 2.96 percent.
The RBI MPC meeting in February focused mostly on inflation, according to the minutes.
The monetary policy committee (MPC) of the Reserve Bank of India (RBI) remained cautious about inflation readings because of the volatility of food prices, as per the minutes of the MPC meeting that were made public on February 22.
“The forecast for headline inflation is still highly volatile due to uncertainty surrounding food prices. In the minutes of the February round of monetary policy review, RBI Governor Shaktikanta Das stated, “Further risks to the inflation outlook include growing geopolitical tensions and supply chain disruptions due to new flash points.”
RBI Deputy Governor Michael Debabrata Patra stated, “Monetary policy must remain restrictive and maintain downward pressure on inflation while minimising the output costs of disinflation.”
Recurrent food price shocks, according to RBI Governor Das during the February monetary policy review, carry a risk of disrupting the current deflationary trend and de-anchoring inflation expectations as well as broadening price pressures.
Angel One plans to use preferential issue, QIP, and other channels to fund up to Rs 2,000 crore.
According to the firm on February 22, Angel One plans to fund up to Rs 2000 crore through preferential issuance, QIP, or other means.
According to the company in a stock exchange filing, the goal of this fund raise is to increase and create financial flexibility to grow the business and take advantage of various emerging opportunities within the current and growing broking business as well as across the inorganic universe within the fintech space.
“The equity fund raise plan of up to Rs 2,000 crore will allow the company to enhance its ability to invest beyond the current resources at hand, besides allowing it to maintain fiscal prudence in its journey to make Angel One a leading fintech platform,” the business stated.
India ratings see 6.5% GDP growth in FY25 and “bullish” indicators for private capital expenditure.
India Ratings and Research projects that in 2024–2025, the country’s GDP would expand by 6.5 percent. The statistics ministry’s initial advance estimate of 7.3 percent for the current fiscal year would indicate a fall from this, although the likelihood of the private investment cycle is encouraging for the economy.
Voda Concept to talk about QIP, FPO, mulls rights issue, and other forms of fundraising on February 27
In an exchange statement, Vodafone Idea, a telecom business owned by the Aditya Birla Group, stated that it will discuss fundraising during a board meeting on February 27.
“Consider and evaluate any and all proposals for raising of funds in one or more tranches by way of a rights issue, further public offer, private placement including preferential allotment, qualified institutions placement, or through any other permissible mode and/or combination thereof as may be considered appropriate,” the company stated. This includes proposals for issuing equity shares or securities convertible into equity shares, warrants, convertible debentures, warrants, and/or non-convertible debentures including non-convertible debentures along with warrants, which may or may not be listed.
Stock in News
Olectra Greentech: Brihan Mumbai Electric Supply & Transport Undertaking (BEST) has awarded a Letter of Award (LOA) to the Consortium of Olectra Greentech and Evey Trans (EVEY) for the supply, operation, and maintenance of 2,400 electric buses under a gross cost contract. The 4,000 crore buses would be supplied over a period of eighteen months.
Indian Railway Catering and Tourism Corporation: In order to supply and deliver pre-ordered meals through the IRCTC e-catering portal as a PoC (Proof of Concept) at four railway stations—Benganeswar, Visakhapatnam, Vijayawada, and Bengaluru—IRCTC has partnered with Bundl Technologies (Swiggy Foods). It’s possible that Bundl Technologies’ eCatering solution will soon be accessible.
Vodafone Idea: The telecommunications company announced that its board of directors will convene on February 27 to discuss any and all proposals for raising capital in one or more tranches through a qualified institutions placement, rights issue, further public offer, private placement with preferential allotment, or any other authorised method.
Oil India: The firm and Fertilisers and Chemicals Travancore (FACT), a public sector organisation, have inked a Memorandum of Understanding (MoU) to investigate prospects in the green hydrogen space, encompassing Green Ammonia/Green Methanol and various derivatives.
Texmaco Rail & Engineering: The railway announced that the Board of Directors will convene on February 27 to deliberate on funding proposal submissions.
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