Sensex gains 119 pts, ITC hits record high.

The domestic equity benchmarks continued to trade with minor gains in mid-morning trade. The Nifty traded near the 17,600 level after hitting the day's low of 17,455.40 in morning trade. FMCG, metal and IT stocks were in demand while media, realty and consumer durables shares corrected. Trading was volatile on account of monthly options expiry.

Meanwhile, Reserve Bank of India and U.S. Federal Reserve minutes revealed that they are willing to keep increasing the interest rates as inflation remains a concern.

The barometer index, the S&P BSE Sensex, was up 119.57 points or 0.20% to 59,864.55. The Nifty 50 index gained 40.20 points or 0.23% to 17,594.50.

In the broader market, the S&P BSE Mid-Cap index fell 0.42% while the S&P BSE Small-Cap index rose 0.18%

The market breadth was negative. On the BSE, 1,586 shares rose and 1,634 shares fell. A total of 165 shares were unchanged.

Buzzing Index:

The Nifty FMCG index rose 0.86% to 45,802.35. The index shed 0.31% in previous trading session.

ITC (up 1.73%), Radico Khaitan (up 1.23%), Emami (up 0.78%), Dabur India (up 0.57%), Nestle India (up 0.32%), United Breweries (up 0.22%) edged higher.

On the other hand, Varun Beverages (down 1.47%), Marico (down 1.13%) and Britannia Industries (down 0.55%) declined.

Stocks in Spotlight:

Sonata Software rallied 3.98% after the company's wholly owned subsidiary Sonata Software North America Inc. announced the signing of definitive agreement for acquiring 100% stake in Quant Systems Inc. The acquisition has been done for an upfront payment of $65 million. Acquisition cost involves a deferred achievement-based earn-out / pay-outs upto a maximum of $95 million payable over 2 years and certain additional payments on achievement of additional targets.

HG Infra Engineering gained 2.62% after the company has been declared as lowest bidder (L-1) by Rail Vikas Nigam, Chandigarh for construction project in Himachal Pradesh. The company said its bid project cost is Rs 466.11 crore and construction period of project is 30 months.

Ugro Capital advanced 3.25% after the NBFC announced that the investment and borrowing committee of the board will consider the proposal of fund raising on Saturday, 25 February 2023. The company added that the funds will be raised by way of issuance of non-convertible debentures and/or commercial papers through private placement basis.

Global Markets:

Most of the Asian stocks traded lower on Thursday after the U.S. Federal Reserve released the minutes of its most recent meeting that showed central bank members are still committed to fighting inflation with rate hikes. Japanese market is closed today for the Emperor's birthday.

The Bank of Korea held its interest rates at 3.5%, a first in nearly a year of rate hikes, and in line with expectations.

Wall Street ended broadly lower on Wednesday, with investors cautious despite the latest guidance on rate policy from the US central bank showing few surprises.

Minutes from the Federal Reserve's January 31-February 1 meeting said that almost all Fed officials agreed to slow the pace of increases in interest rates to a quarter of a percentage point.

Barometers trade with deep cuts, PSU bank stocks tumble.

The frontline indices traded in a narrow range with deep cuts in mid-morning trade. The Nifty slipped below the 17,700 level. PSU Bank stocks their extended losses for the fifth straight session 

The barometer index, the S&P BSE Sensex, was down 534.51 points or 0.88% to 60,138.21. The Nifty 50 index lost 166.15 points or 0.93% to 17,660.55.

In the broader market, the S&P BSE Mid-Cap index slipped 1.03% while the S&P BSE Small-Cap index declined 0.86%.

Sellers outnumbered buyers. On the BSE, 897 shares rose and 2,343 shares fell. A total of 149 shares were unchanged.

Domestic sentiment was dented amid negative global cues. After the strong US economic data announced last week, speculations are high about rise in US inflation that may prompt US Fed to further hike interest rate. Traders look ahead to the minutes from the U.S. Federal Reserve's latest monetary policy meeting due later today.

Buzzing Index:

The Nifty PSU Bank index slipped 1.73% to 3,637, extending losses for the fifth session. The index tumbled 6.23% in five trading sessions.

Union Bank of India (down 2.66%), Punjab National Bank (down 2.14%), Bank of Baroda (down 2%), Canara Bank (down 1.94%), Central Bank of India (down 1.54%), Indian Overseas Bank (down 1.41%), Bank of Maharashtra (down 1.34%), State Bank of India (down 1.23%), Bank of India (down 0.92%) and Indian Bank (down 0.79%) slumped.

Global Markets:

Asian stocks tumbled on Wednesday as investors digested key economic data across the region. Japan's producer prices index rose 1.6% on an annualized basis, slightly higher than December's figure of 1.5%. The PPI measures the average movements of prices received by domestic producers for goods and services sold.

New Zealand's central bank has raised interest rates by 50 basis points from 4.25% to 4.75, in line with expectations. In a release, the Reserve Bank of New Zealand indicated that interest rates could still rise, to ensure inflation returns to its target range over the medium term.

U.S. stocks dropped Tuesday as higher rates continue to pressure market sentiment, and the latest batch of retail earnings raised concerns about the state of the consumer.

The Fed on Wednesday is scheduled to release the minutes from its January 31-February 1 meeting. The central bank hiked rates by 25 basis points at that gathering.

US business activity unexpectedly rebounded in February, reaching its highest level in eight months, according to a survey on Tuesday. S&P Global said its flash US Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 50.2 this month from a final reading of 46.8 in January.

Sensex slides 495 pts, Nifty below 17,700 level, metal stocks lose shine.

The key equity indices traded with steep losses and hit an intraday low in morning trade. Negative global cues dampened the investors sentiment. The Nifty slipped below the 17,700 level. Metal stocks extended losses for the fourth consecutive trading session .

The barometer index, the S&P BSE Sensex, was down 495.55 points or 0.82% to 60,177.17. The Nifty 50 index lost 149.20 points or 0.84% to 17,677.50.

In the broader market, the S&P BSE Mid-Cap index fell 0.93% while the S&P BSE Small-Cap index declined 0.78%.

Sellers outnumbered buyers. On the BSE, 926 shares rose and 2,185 shares fell. A total of 135 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 525.80 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 235.23 crore in the Indian equity market on 21 February, provisional data showed.

Buzzing Index:

The Nifty Metal index declined 1.78% to 5,642.15. The index slipped 3.73% in four trading sessions.

Adani Enterprises (down 6.2%), Steel Authority of India (down 2.07%), JSW Steel (down 1.56%), Welspun Corp (down 1.53%), Hindustan Copper (down 1.5%), Jindal Steel & Power (down 1.41%), Vedanta (down 1.28%), National Aluminium Company (down 1.28%), MOIL (down 0.95%) and Hindustan Zinc (down 0.78%) tumbled.

On the other hand, Ratnamani Metals & Tubes (up 3.58%) ,APL Apollo Tubes (up 0.38%) and Hindalco Industries (up 0.19%) edged higher.

Stocks in Spotlight:

Biocon declined 1.08%. The biopharmaceutical company announced that it has issued and allotted non-convertible debentures (NCDs) aggregating to Rs 1,070 crore on private placement basis in three series. These unlisted, secured, rated, redeemable, non-convertible debentures having face value of Rs 1 lakh each allotted on 21 February 2023 and will be matured in 21 February 2028.

ITI surged 7.22% after the company announced the appointment of Rajesh Rai as chairman and managing director (MD) of the company for period of five years with effect from 21 February 2023.

Nifty above 17,900 level, metal stocks shine.

The benchmark indices marched higher and hit an intraday high in morning trade. The Nifty traded above the 17,900 level. Metal, financial services and FMCG stocks were in demand while realty, PSU bank and IT shares declined.

The barometer index, the S&P BSE Sensex, was up 254.79 points or 0.42% to 60,946.33. The Nifty 50 index gained 73.85 points or 0.41% to 17,918.45.

In the broader market, the S&P BSE Mid-Cap index rose 0.32% while the S&P BSE Small-Cap index added 0.03%

The market breadth was positive. On the BSE, 1,676 shares rose and 1,385 shares fell. A total of 173 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 158.95 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 86.23 crore in the Indian equity market on 20 February, provisional data showed.

Buzzing Index:

The Nifty IT index rose 1.05% to 5,823.50. The index decilned 1.67% in the past two trading sessions.

Ratnamani Metals & Tubes (up 3.87%), APL Apollo Tubes (up 2.21%), JSW Steel (up 1.15%), Tata Steel (up 1.07%), Steel Authority of India (up 1.05%), Jindal Steel & Power (up 0.94%), Adani Enterprises (up 0.77%), Vedanta (up 0.63%), Hindustan Zinc (up 0.34%) and Hindustan Copper (up 0.24%).

Stocks in Spotlight:

IFL Enterprises gained 2.20% after the company informed that its board would meet on 9 March 2023 to consider a proposal for sub-division of the equity shares of the company. On the same day, the board will also consider a proposal for the issue of fully paid-up bonus equity shares to the members of the company.

Rattanindia Enterprises rose 1.37%. RattanIndia's Revolt Motors, announced pocket friendly My Revolt Plan (MRP) to democratise ownership of EV motorcycles in the country. Revolt RV400 customers will be able own these AI enabled EV bikes at monthly costs less than comparable petrol engine bikes.

Sensex drops 311 pts, Nifty settles below 17,850, Cipla tumbles over 6%.

The headline equity indices ended a volatile session with modest losses on Monday. The Nifty closed a tad below the 17,850 mark after hitting the day's high of 18,004.35 in morning trade. IT and auto stocks edged higher. On the other hand, oil & gas, bank and financial services shares witnessed a bit of a selling pressure.

As per provisional closing data, the barometer index, the S&P BSE Sensex slipped 311.03 points or 0.51% to 60,691.54. The Nifty 50 index lost 99.60 points or 0.56% to 17,844.60.

In the broader market, the S&P BSE Mid-Cap index shed 0.12% while the S&P BSE Small-Cap index declined 0.16%

The market breadth was weak. On the BSE, 1,396 shares rose and 2,178 shares fell. A total of 164 shares were unchanged.

Meanwhile, the NSE's India VIX, a gauge of the market's expectation of volatility over the near term, gained 2.27% to 13.38.

Buzzing Index:

The Nifty Oil & Gas index fell 1.14% to 7,149.15. The index witnessed profit booking after gaining 1.31% in four trading sessions.

Adani Total Gas (down 5%), Bharat Petroleum Corporation (down 1.67%), Petronet LNG (down 1.3%), Indian Oil Corporation (down 1.3%), Oil & Natural Gas Corpn (down 1.28%), Hindustan Petroleum Corporation (down 1.26%), Reliance Industries (down 1.11%), Gujarat State Petronet (down 0.96%), Castrol India (down 0.7%) and Oil India (down 0.56%) slipped.

On the other hand, Gujarat Gas (up 2.64%) ,Indraprastha Gas (up 0.59%) and Mahanagar Gas (up 0.3%) advanced.

Stocks in Spotlight:

Hindustan Unilever shed 0.21%. The FMCG major has signed an agreement for the sale of its atta and salt business carried out under the brands 'Annapurna' and 'Captain Cook.' The brands were sold at Rs 60.4 crore to Uma Global Foods, and Uma Consumer Products, which are subsidiaries of Reactivate Brands International, a Singapore-headquartered company and an affiliate of CSAW Aqbator (Singapore).

Cipla dropped 6.12%. The United States Food and Drug Administration (USFDA) conducted a current Good Manufacturing Practices (cGMP) inspection at the company's Pithampur manufacturing facility from 6th - 17th February 2023. On conclusion of the inspection, the company has received 8 inspectional observations in Form 483. The company will work closely with the USFDA and is committed to address these comprehensively within stipulated time.

Tata Motors rose 0.63% after the media reports suggested that the company would supply 25,000 XPREST electric vehicle (EV) units to Uber in one of the largest deals in the green mobility space till date.

Sun Pharmaceuticals Industries added 0.29%. The pharma major announced that it has entered into agreements to acquire minority stake up to 26.09% in Agatsa Software and 27.39% in Remidio Innovative Solutions.

Crisil gained 2.31%. On consolidated basis, Crisil's net profit fell 6.3% to Rs 158.02 crore in Q4 FY22 as compared with Rs 168.63 crore in Q4 FY21. Income from operations jumped 16.5% year on year to Rs 822.3 crore in the quarter ended 31 December 2022.

Power Grid Corporation of India added 0.37%. The state-owned firm said that it has been declared as the successful bidder under tariff based competitive bidding to establish inter-state transmission system for the following projects on build, own operate and transfer (BOOT) basis.

Zydus Lifesciences fell 1.36%. The drug maker received tentative approval from the USFDA for Gabapentin tablets (once-daily), 300 mg and 600 mg. Further, it also received tentative approval from the USFDA for Canagliflozin and Metformin Hydrochloride tablets.

United Breweries (UBL) declined 1.26%. The company announced that its managing director and chief executive officer, Rishi Pardal, tendered his resignation on 16 February 2023. UBL said its board has commenced a search for a new managing director & CEO for the company.

Ugro Capital lost 1.39%. The investment and borrowing committee of the company's board has approved fund raising of up to Rs 20 crore by issuing non-convertible debentures (NCDs) on a private placement basis. The NBFC said that the NCDs will be issued at a coupon rate of 10% per annum. The tentative allotment date for the NCD is 24 February 2023. The tenure of the instrument is 18 months from the date of allotment. Meanwhile, the tentative maturity date is 24 August 2024.

Global Markets:

Markets in Europe tumbled while Asian stocks ended higher on Monday, with investors being cautious at the start of a week that includes the release of important Eurozone activity data as well as the minutes from the last Federal Reserve meeting.

Monday's U.S. holiday, to celebrate President's Day, is likely to limit trading volumes in Europe, but investors will also be wary of taking strong positions ahead of some important regional economic data.

The highlight of the week will be Tuesday's flash PMI data for February, which will show how well the Eurozone economy is performing after unexpectedly growing in the final quarter of 2022.

The bloc is also scheduled to release final inflation figures for January on Thursday, which will be in focus after delayed German data was omitted from the first estimate. ECB officials have repeatedly highlighted their fears about stubborn underlying inflation.

Elsewhere, China's central bank left its interest rates unchanged earlier Monday, tensions between Beijing and Washington remained fraught due to issues surrounding the alleged Chinese spy balloon and potential aid to Russia, while North Korea has reportedly fired three ballistic missiles off its east coast on Monday.

US stocks ended mixed on Friday. Traders were concerned that the Federal Reserve could lift rates by more than expected amid recent data pointing to a stronger economy and sticky inflation.

Sensex, Nifty at the low point of the day; European markets open in the green.

The domestic equity benchmarks extended losses and hit fresh intraday low in mid-afternoon trade. The Nifty traded below the 17,900 mark after hitting the day's high of 18,004.35 in morning trade.

The barometer index, the S&P BSE Sensex, was down 204.46 points or 0.34% to 60,798.11. The Nifty 50 index lost 70.85 points or 0.39% to 17,873.35.

Adani Enterprises (down 5.15%), Britannia Industries (down 1.53%), BPCL (down 1.48%), Adani Ports (down 1.14%) and ONGC (down 1.09%) were the top Nifty losers.

Divi's Lab (up 2.52%), Ultratech Cement (up 1.92%), Tech Mahindra (up 1.63%), HDFC Life (up 1.27%) and SBI Life (up 0.82%) outperformed.

In the broader market, the S&P BSE Mid-Cap index added 0.12% while the S&P BSE Small-Cap index rose 0.11%

The market breadth was remained negative. On the BSE, 1,450 shares rose and 2,014 shares fell. A total of 183 shares were unchanged.

Stocks in Spotlight:

Hindustan Unilever rose 0.07%. The FMCG major has signed an agreement for the sale of its atta and salt business carried out under the brands 'Annapurna' and 'Captain Cook.' The brands were sold at Rs 60.4 crore to Uma Global Foods, and Uma Consumer Products, which are subsidiaries of Reactivate Brands International, a Singapore-headquartered company and an affiliate of CSAW Aqbator (Singapore).

Cipla tumbled 6.24%. The United States Food and Drug Administration (USFDA) conducted a current Good Manufacturing Practices (cGMP) inspection at the company's Pithampur manufacturing facility from 6th - 17th February 2023. On conclusion of the inspection, the company has received 8 inspectional observations in Form 483.

Samvardhana Motherson International advanced 3.52. The company announced the signing of an agreement by its subsidiary to acquire Germany-based SAS Autosystemtechnik for 4.4 billion euros.

Crisil gained 2.53%. On consolidated basis, Crisil's net profit fell 6.3% to Rs 158.02 crore in Q4 FY22 as compared with Rs 168.63 crore in Q4 FY21. Income from operations jumped 16.5% year on year to Rs 822.3 crore in the quarter ended 31 December 2022.

Global Markets:

European stock markets opened with minor gains while Asian peers mostly traded with decent gains on Monday, with investors cautious at the start of a week that includes the release of important Eurozone activity data as well as the minutes from the last Federal Reserve meeting.

Monday's U.S. holiday, to celebrate President's Day, is likely to limit trading volumes in Europe, but investors will also be wary of taking strong positions ahead of some important regional economic data.

The highlight of the week will be Tuesday's flash PMI data for February, which will show how well the Eurozone economy is performing after unexpectedly growing in the final quarter of 2022.

The bloc is also scheduled to release final inflation figures for January on Thursday, which will be in focus after delayed German data was omitted from the first estimate. ECB officials have repeatedly highlighted their fears about stubborn underlying inflation.

Elsewhere, China's central bank left its interest rates unchanged earlier Monday, tensions between Beijing and Washington remained fraught due to issues surrounding the alleged Chinese spy balloon and potential aid to Russia, while North Korea has reportedly fired three ballistic missiles off its east coast on Monday.

US stocks ended mixed on Friday. Traders were concerned that the Federal Reserve could lift rates by more than expected amid recent data pointing to a stronger economy and sticky inflation.

Indices edge lower, breadth negative, Cipla drops over 5%.

 

The domestic equity barometers were trading with tiny losses in early trade. The Nifty traded below the 17,950 mark. FMCG, bank and financial services stocks edged higher while pharma, healthcare and metal shares declined.

The barometer index, the S&P BSE Sensex, was down 26.09 points or 0.04% to 60,976.48. The Nifty 50 index shed 19.80 points or 0.11% to 17,924.40.

The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index declined 0.34% while the S&P BSE Small-Cap index fell 0.24%

The market breadth was negative. On the BSE, 1,245 shares rose and 1,478 shares fell. A total of 162 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 624.61 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 85.29 crore in the Indian equity market on 17 February 2023, provisional data showed.

Stocks in Spotlight:

Hindustan Unilever rose 0.90%. The FMCG major has signed an agreement for the sale of its atta and salt business carried out under the brands 'Annapurna' and 'Captain Cook.' The brands were sold at Rs 60.4 crore to Uma Global Foods , and Uma Consumer Products, which are subsidiaries of Reactivate Brands International, a Singapore-headquartered company and an affiliate of CSAW Aqbator (Singapore). CSAW is focused on acquiring and scaling up food brands to promote affordable wellness. The transaction is expected to occur within a period of 90 days.

Cipla tumbled 5.60%. The United States Food and Drug Administration (USFDA) conducted a current Good Manufacturing Practices (cGMP) inspection at the company's Pithampur manufacturing facility from 6th - 17th February 2023. On conclusion of the inspection, the company has received 8 inspectional observations in Form 483. The company will work closely with the USFDA and is committed to address these comprehensively within stipulated time.

Surya Roshni shed 0.12%. The company has obtained total order amounted to Rs 113.63 crore for supplying Bare and 3LPE (external) coated line pipes from Bharat Petroleum Corporation for Hyderabad pipeline project.

Zydus Lifesciences declined 0.69%. The drug maker received tentative approval from the USFDA for Gabapentin tablets (once-daily), 300 mg and 600 mg. Further, it also received tentative approval from the USFDA for Canagliflozin and Metformin Hydrochloride tablets.

KEC International rallied 3.72%. The global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs 3,023 crore across its various businesses.

Global Markets:

Asian shares were trading higher on Monday, as investors look ahead to crucial economic data later in the week. Minutes for the U.S. Federal Open Market Committee (FOMC) is slated to be released Wednesday. Monday will be a trading holiday for the U.S., in light of Presidents' Day.

The People's Bank of China left its 1-year and 5-year prime loan rates unchanged, widely in line with expectations.

US stocks ended mixed on Friday. Traders were concerned that the Federal Reserve could lift rates by more than expected amid recent data pointing to a stronger economy and sticky inflation.

During Friday's trade, the Dow Jones Industrial Average added 129.8 points or 0.4% to 33,826.7, the S&P 500 fell 11.3 points or 0.3% to 4,079.1 and the Nasdaq Composite lost 68.6 points or 0.6% to 11,787.3.