Sensex soars 1149 pts, Nifty above 16,600 mark; breadth strong. 25February2022

Key equity barometers surged in early trade amid bargain hunting after yesterday's slump. All the sectoral indices on the NSE rallied. PSU banks, metals and realty shares surged.

The barometer index, the S&P BSE Sensex, surged 1,148.86 points or 2.11% to 55,678.77. The Nifty 50 index jumped 355 points or 2.18% to 16,602.95. Both the indices slumped over 6.2% in the past seven consecutive sessions.

In the broader market, the S&P BSE Mid-Cap index spurted 3.40% while the S&P BSE Small-Cap index surged 3.88%.

Sellers outpaced buyers. On the BSE, 2308 shares rose and 559 shares fell. A total of 89 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 6,448.24 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 7,667.75 crore in the Indian equity market on 24 February, provisional data showed.

Economy:

American credit rating agency, Moody's Investors Service has raised India's growth forecast to 9.5% from 7% for the calendar year 2022, citing a stronger-than-expected economic recovery from the national lockdown of 2020 and the second wave of the COVID-19 pandemic in mid-2021.

Moody's said in a statement that they have raised the 2022 calendar year growth forecasts for India and maintained the forecast for 5.5% growth in 2023. This translates into 8.4% growth in fiscal year 2022-23 and 6.5% growth in fiscal year 2023-24. However, it flagged high oil prices and supply distortions as a drag on growth.

It said, Indian economy is estimated to have surpassed the pre-COVID level of GDP by more than 5% in the last quarter of 2021 and added that sales tax collection, retail activity and PMIs suggest solid momentum.

The Agency said, 2022 Budget prioritised growth, with a 36 percent increase in allocation to capital expenditure to 2.9% of GDP for the fiscal year 2022-23. It said, with the RBI leaving interest rates unchanged at its February meeting, monetary policy remains supportive.

Stocks in Spotlight:

Linde India jumped 4.37%. On a consolidated basis, net profit of Linde India rose 19.42% to Rs 67.83 crore on 35.49% rise in net sales to Rs 644.15 crore in Q4 December 2021 over Q4 December 2020. The board recommended a total dividend of Rs 13.50 per share. It includes a special dividend of Rs 10 per share.

Cupid rose 3.16%. The company on Thursday announced that it received a purchase order from United Nations Population Fund (UNFPA) for supply of male condoms worth Rs 4.25 crore and water based lubricant worth Rs 1.01 crore.

Wipro rose 3.37%. The company on Thursday announced that it will be hiring more than 500 new professionals over the next fiscal year to support its growth in delivering cloud solutions to clients.

Infosys rose 2.16%. The IT major has launched Infosys metaverse foundry to ease and fasttrack enterprises' exploration of the metaverse, including virtual and augmented environments, for their customers, workplace, products and operations.

NHPC rose 1.28%. NHPC has signed a facility agreement with HDFC Bank to securitize the RoE of Chamera-I Power Station for a tenor of 10 years. The amount of Securitization facility has been arrived Rs 1,016.39 crore at 5.24% p.a. discounting rate linked with 3 months T-Bills.

Seacoast Shipping Services spurted 7.58%. The board of directors has taken note of acceptance mail received from the Government of Gujarat for the proposal of the company to work with the Government of Gujarat in joint venture.

Arihant Capital Markets rose 3.95%. The company's board will on 3 March 2022 consider an interim dividend for the financial year 2021-22 and sub-division of face value of equity shares of the company from Rs 5 per share to Re 1 per share.

Hazoor Multi Projects jumped 4.85%. The company has received letter of intent from Gayatri Projects for completion of balance work of Chainage in district Ahmednagar, Maharashtra on engineering, procurement and construction (EPC) mode.

Global Markets:

Overseas, Asian stocks rose on Friday as investors assessed the Russia-Ukraine conflict following a massive comeback on Wall Street overnight.

US stocks ended sharply higher on Thursday in a dramatic market reversal as US President Joe Biden unveiled harsh new sanctions against Russia after Moscow began an all-out invasion of Ukraine.

U.S. President Joe Biden on Thursday said Washington will seek to isolate Russia from the global economy by introducing new sanctions following Moscow's invasion of Ukraine. The White House has also authorized additional troops to be stationed in Germany as NATO allies look to bolster defenses in Europe, Biden said.

The European Union also agreed to more sanctions on Russia, calling on the country to stop all military action and withdraw its forces.

रूस-यूक्रेन युद्ध शुरू होने के साथ ही इक्विटी दिन के निचले स्तर पे | 24February2022

 

The benchmark indices extended major losses during afternoon trade amid weak global cues. All the sectoral indices on the NSE were in the red. The Nifty traded below 16,500 level.

The barometer index, the S&P BSE Sensex, tumbled 1,926.73 points or 3.37% at 55,305.33. The Nifty 50 index slumped 596.10 points or 3.49% at 16,467.15.

Reliance Industries (RIL) (down 3.28%), HDFC Bank (down 3.33%) and Infosys (down 3%) dragged the market.

Broader markets dragged substantial losses. The S&P BSE Mid-Cap index skid 4.56%. The S&P BSE Small-Cap index dropped 4.99%.

Sellers outnumbered the buyers. On the BSE, 224 shares rose and 3,094 shares fell. A total of 87 shares were unchanged.

Trading sentiment took a hit after Russian President Vladimir Putin said in a public address that he had authorized a military operation in Ukraine. Later the media reported explosions were heard in Kyiv. Putin appealed to Ukrainian soldiers to lay down their arms and go home. He said Russia doesn't plan to “occupy” its southern neighbour, but that Russia must “defend itself from those who took Ukraine hostage” -- the U.S. and its allies who had crossed Russia's “red line” with expansion of the NATO alliance.

India has called for an immediate de-escalation of tensions between Russia and Ukraine. India's Permanent Representative UN, TS Tirumurti cautioned that the situation is in danger of spiraling into a major crisis. He was addressing an emergency meeting of UN Security Council held on Ukraine this morning. This was the second meeting of UNSC this week and the fourth since January 31 as tensions escalated between Russia and Ukraine. Tirumurti emphasized sustained and focused diplomacy to address all issues concerning the situation.

Meanwhile, UN Secretary-General Antonio Guterres made a direct appeal to President Putin to stop Russian troops from attacking Ukraine.

Gainers & Losers:

Hindalco Industries (up 0.63%) was the major gainer in Nifty 50 index.

Tata Motors (down 7.47%), Hero MotoCorp (down 7.47%), UPL (down 6.73%), IndusInd Bank (down 5.97%) and Grasim Industries (down 5.36%) were major losers in Nifty 50 index.

Stocks in Spotlight:

Piramal Enterprises dropped 5.07%. On Monday, 28 February 2022, the company said that it will consider and approve the issue of secured, rated, listed, redeemable NCDs up to Rs 100 crore along with an option to retain oversubscription up to Rs 400 crore. The total size will aggregate up to Rs 500 crore, on a private placement basis.

L&T Finance Holdings dropped 9.03%. CitiGroup Global Markets Mauritius and CBNA London sold 6.39 crore equity shares or 4.88% stake of the company on 21 February 2022. Post transaction, CitiGroup Global Markets Mauritius and CBNA London decreased its shareholding to 3.87% stake from 8.75% stake held in L&T Finance Holdings. The deal was executed as secondary market sale.

Windsor Machines tumbled 9.91%. The company developed a new product called SPRINT- 800 for manufacturing thermoplastic products and is ready to be launched in domestic as well as international markets.

रूस-यूक्रेन संघर्ष के बीच सेंसेक्स 1359 अंक नीचे। 24February 2022

  

Benchmark indices opened lower and traded with major losses in early trade as Russia announced military action in Eastern Ukraine. The Nifty traded above the 16,650 level.

The barometer index, the S&P BSE Sensex, declined 1,359.79 points or 2.38% to 55,872.27. The Nifty 50 index fell 397.4 points or 2.33% to 16,665.85.

In the broader market, the S&P BSE Mid-Cap index fell 2.54% while the S&P BSE Small-Cap index slumped 3.04%.

Sellers outpaced buyers. On the BSE, 270 shares rose and 2208 shares fell. A total of 75 shares were unchanged.

Indices will also face a bout of volatility on account of monthly F&O expiry today.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,417.16 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,024.37 crore in the Indian equity market on 23 February, provisional data showed.

Stocks in Spotlight:

Wipro fell 2.47%. The IT major announced that it has joined the global partnership network of o9 Solutions, a leading enterprise AI software platform provider for transforming planning and decision-making.

Indus Towers slumped 8.7%. Vodafone PLC is reportedly likely to sell 2.4% stake in the company worth $200 million. The stake sale will take place through a block deal today and offer range is Rs 227-231 per share.

Piramal Enterprises was down 4.19%. The company's board of directors will meet on February 28 to consider and approve the issue of Secured, Rated, Listed, Redeemable, Principal Protected, Market Linked Non-Convertible Debentures up to Rs. 100 crores along with an option to retain oversubscription up to Rs. 400 crores, the total size aggregating up to Rs. 500 crores, on a private placement basis.

Global Markets:

Asian stocks fell on Thursday as investors continue to watch the escalating situation between Russia and Ukraine.

The Bank of Korea kept interest rates unchanged at 1.25% at its meeting on Thursday. However, it predicted that consumer price inflation will run “substantially above 3% for a considerable time.”

US stocks fell sharply once again Wednesday, as escalating tensions between Russia and Ukraine push the major averages to fresh lows for the year so far.

Investors have been juggling brewing tensions between Russia and Ukraine. Ukraine warned its citizens against traveling to Russia and to leave the neighboring country, if they are there. Meanwhile, the UK said that it was ready to impose more sanctions on Russia.

Meanwhile, the Biden administration announced it will allow sanctions to move forward on the company in charge of building Russia's Nord Stream 2 gas pipeline, following a first tranche of sanctions against Russia Tuesday that targets Russian banks, the country's sovereign debt and three individuals.

Sensex, Nifty advance in early trade; breadth strong. 23February2022

Equity indices advanced in early trade as buying resumed after recent market slide. All sectoral indices on the NSE traded in the green.

The barometer index, the S&P BSE Sensex, was up 262.72 points or 0.46% to 56,563.65. The Nifty 50 index added 85 points or 0.5% to 17,177.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.92% while the S&P BSE Small-Cap index gained 1.37%.

The market breadth is strong. On the BSE, 2222 shares rose and 559 shares fell. A total of 91 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,245.52 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,108.58 crore in the Indian equity market on 22 February, provisional data showed.

Stocks in Spotlight:

Wipro rose 0.43%. The IT major announced that it has formed a joint go-to market partnership with vFunction, a Palo Alto-based startup that has developed a scalable, AI-based technology platform for modernizing Java applications and accelerating migration to the cloud.

Dilip Buildcon added 3.49% after the road construction company announced that it was declared as L-1 bidder for a new HAM project under Raipur-Visakhapatnam in Chhattisgarh. The order is worth Rs 1141 crore.

Global Markets:

Most Asian stocks were trading higher on Wednesday as investors continue monitoring the intensifying crisis surrounding Ukraine. Markets in Japan are closed on Wednesday for a holiday.

Wall Street's main indices fell on Tuesday, with the S&P 500 confirming a correction, as the Ukraine-Russia crisis kept investors on the edge after Russian President Vladimir Putin recognised two breakaway regions in the country and ordered troops to the area.

U.S. President Joe Biden said Tuesday Russia has begun “an invasion” of Ukraine and announced sanctions against Russian banks and the country's sovereign debt, among others. Biden's announcement came following the Russian parliament's approval of President Vladimir Putin's Tuesday request to use military force outside the country's borders.

On the economic data front, the IHS Markit manufacturing PMI rose to 52.5 in February from 50.5. The IHS Markit services PMI jumped to 56 in February from 51.1 the month prior.

Benchmarks pare losses; metal stocks decline. 22February2022

 

The domestic equity barometers further pared losses in mid-morning trade. The Nifty hovered near the 17,000 mark. Metal stocks were under pressure.

The barometer index, the S&P BSE Sensex, was down 705.53 points or 1.22% to 56,978.06. The Nifty 50 index slumped 207.70 points or 1.21% to 16,998.95.

Escalating geopolitical tensions between Russia and Ukraine weighed on the sentiment. There are concerns that rising tensions in Eastern Europe will boost crude oil prices and could spark global supply chain disruption, resulting in rising input costs. Thousands of U.S. and European companies do business with suppliers in Russia and Ukraine. Many of them could be at risk during a prolonged military conflict.

In the broader market, the S&P BSE Mid-Cap index declined 1.17% while the S&P BSE Small-Cap index lost 1.84%.

The market breadth was weak. On the BSE, 535 shares rose and 2,666 shares fell. A total of 96 shares were unchanged.

Buzzing Index:

The Nifty Metal index declined 1.65% to 5,565.60, extending losses for fifth day in a row. The index has declined 4.79% in the five sessions.

Tata Steel (down 2.67%), Coal India (down 2.30%), Welspun Corp (down 2.25%), Hindustan Copper (down 2.17%), SAIL (down 2.04%), Vedanta (down 1.74%), Hindustan Zinc (down 1.65%), JSW Steel (down 1.44%), Jindal Steel & Power (down 1.35%), Adani Enterprises (down 1.19%) and APL Apollo Tubes (down 10%) declined.

Hindalco shed 0.25% to Rs 510.65. The company's wholly owned subsidiary Novelis will invest approximately Rs 372.74 crore ($50 million) to build a recycling centre with annual casting capacity of 100 kilotonnes of low-carbon sheet ingot at its Ulsan Aluminium joint venture in South Korea. It expects the recycling centre to reduce the company's carbon emissions by more than 420,000 tonnes each year.

Adani Enterprises fell 1.04% to Rs 1666.90. The Adani Group announced it has signed a non-binding Memorandum of Understanding (MoU) with Ballard Power Systems to evaluate a joint investment case for the commercialization of hydrogen fuel cells in various mobility and industrial applications in India. Under the MoU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India.

Vedanta declined 2.08% to Rs 346.35. The company announced that it has made an oil discovery in its exploratory well in Rajasthan's Barmer district. The company holds 100% participating interest in the block.

Global Markets:

Asian stocks declined on Tuesday as tensions surrounding Russia and Ukraine continue to keep investors on edge.

U.S. markets were closed for a holiday on Monday. Oil jumped to a seven-year high as Europe's eastern flank stood on the brink of war after Russian President Vladimir Putin reportedly ordered forces into two breakaway regions of eastern Ukraine, following a Monday announcement that he would recognize their independence. After that development, the White House responded, with U.S. President Joe Biden ordering sanctions against the separatist regions of Ukraine.

Nifty trades above 16,950; banks tumble. 22February2022

The key equity indices pared early losses in morning trade. The Nifty was trading a tad above the 16,950 mark, after hitting the day's low at 16,843.80. Banks stocks declined across the board.

The barometer index, the S&P BSE Sensex, was down 887.94 points or 1.54% to 56,795.65. The Nifty 50 index slumped 250.10 points or 1.45% to 16,956.55.

Escalating geopolitical tensions between Russia and Ukraine weighed on the sentiment. There are concerns that rising tensions in Eastern Europe will boost crude oil prices and could spark global supply chain disruption, resulting in rising input costs. Thousands of U.S. and European companies do business with suppliers in Russia and Ukraine. Many of them could be at risk during a prolonged military conflict.

In the broader market, the S&P BSE Mid-Cap index declined 1.17% while the S&P BSE Small-Cap index lost 1.84%.

The market breadth was weak. On the BSE, 415 shares rose and 2,701 shares fell. A total of 86 shares were unchanged.

Amid growing concerns of geopolitical tensions, Russian President Putin has ordered to deploy troops into two breakaway regions in eastern Ukraine, which it has recognized as independent on Monday, a move strongly criticized by the world leaders.

Moscow calls the operation of launching the Russian army in these two regions in Ukraine as 'peacekeeping operation' in the area, however worrying the Western leaders of a potential invasion by Russia, and ringing the bells of war.

Post this development, US President Biden signed an executive orde to block trade and investment in parts of Ukraine which were declared independent by Russia by Putin.

Economy:

Union Minister for Finance & Corporate Affairs Nirmala Sitharaman asked the industry leaders to explore ways to further strengthen their sector and help in the post-pandemic revival of economy.

Addressing a post-budget interaction with various industry leaders in Mumbai, the Finance Minister expressed satisfaction about the resilience displayed by the financial markets even during pandemic times.

Sitharaman urged the market participants to strive for efficiency and transparency to help to channelize the resource for productive investment in the most effective manner.

During her opening remarks, the Finance minister asserted that the government wants a sustained recovery. She highlighted that the budget proposals on infrastructure building are an attempt to create the multiplier effect to help the economy. Stating that technology has helped the government make payments to the affected people during the pandemic, Smt Sitharaman said it is also looking at how digital solutions can be deployed in the education and the farming sectors.

She also said that banks will have to be a lot more customer-friendly not in terms of taking adverse risks, but in how they engage with and serve customers.

During the interaction, various ideas and suggestions related to investor awareness, KYC norms, mutual fund penetration, deepening of corporate bonds, commodity derivatives, and effectiveness of the market system were also discussed in detail.

Buzzing Index:

The Nifty Bank index fell 1.66% to 37,058.55. The index had advanced 0.40% in the past two sessions.

Bandhan Bank (down 2.74%), IDFC First Bank (down 2.39%), Federal Bank (down 2.26%), IndusInd Bank (down 2.26%), SBI (down 2.18%), Axis Bank (down 1.74%), Punjab National Bank (down 1.60%), AU Small Finance Bank (down 1.57%), HDFC Bank (down 1.20%), ICICI Bank (down 1.19%), RBL Bank (down 1.12%) and Kotak Mahindra Bank (down 1.10%) declined.

ICICI Bank slipped 1.13% to Rs 745.80. The bank has entered into an agreement to acquire 9.49% stake in Verve Financial Services for Rs 19.99 crore.

Stocks in Spotlight:

Tata Power slipped 1.49% to Rs 221.65. The company's subsidiary Tata Power Renewable Energy has signed a memorandum of understanding with RWE Renewables GmbH to explore the potential for a joint development of offshore wind projects in India.

Krsnaa Diagnostic advanced 2.66% to Rs 605.50. The company has bagged a tender for providing diagnostic/laboratory services in healthcare institutions run by the Health and Family Welfare Department of Government of Himachal Pradesh.

Sensex, Nifty tumble as Russia-Ukraine tension worsens. 22February2022

  

The domestic indices traded with deep cuts in early trade, mirroring the weakness in global markets. The continued escalation of geopolitical tensions between Russia and Ukraine depressed the investor community. All sectoral indices on the NSE are trading in the red.

The barometer index, the S&P BSE Sensex, was down 1,021.46 points or 1.77% to 56,662.13. The Nifty 50 index slumped 289.80 points or 1.68% to 16,916.85.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, surged 18% to 27.03.

In the broader market, the S&P BSE Mid-Cap index declined 1.47% while the S&P BSE Small-Cap index lost 2.10%.

The market breadth was weak. On the BSE, 334 shares rose and 2,403 shares fell. A total of 58 shares were unchanged.

Stocks in Spotlight:

Adani Enterprises fell 2.16% to Rs 1647.90. The Adani Group announced it has signed a non-binding Memorandum of Understanding (MoU) with Ballard Power Systems to evaluate a joint investment case for the commercialization of hydrogen fuel cells in various mobility and industrial applications in India. Under the MoU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India.

Vedanta declined 2.21% to Rs 345.90. The company announced that it has made an oil discovery in its exploratory well in Rajasthan's Barmer district. The company holds 100% participating interest in the block.

Indiabulls Housing Finance was up 0.30% to Rs 167.25. The company informed that the Enforcement Directorate has sought some information regarding certain clients. The company and its officials have provided the data of clients to Enforcement Directorate.

Global Markets:

Asian stocks were trading lower on Tuesday as tensions surrounding Russia and Ukraine continue to keep investors on edge.

Russian President Vladimir Putin reportedly ordered forces into two breakaway regions of eastern Ukraine, following a Monday announcement that he would recognize their independence. After that development, the White House responded, with U.S. President Joe Biden ordering sanctions against the separatist regions of Ukraine.

U.S. markets were closed for a holiday on Monday.

Oil jumped to a seven-year high as Europe's eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.