Thaai Casting: The automotive ancillary company is set to debut on the NSE Emerge on February 23. The final issue price has been fixed at Rs. 77 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.
The benchmark Sensex and Nifty indices are likely to open higher on February 23 as trends in the GIFT Nifty indicate a positive start for the broader index with a gain of 39 points.
In the highly volatile session, the benchmark indices erased all the previous session losses, with the Nifty hitting a fresh all-time high of 22,252.50 led by buying across sectors.
At close on February 22, the Sensex was up 535.15 points or 0.74 percent at 73,158.24, and the Nifty 162.50 points or 0.74 percent at 22,217.50. The pivot point calculator indicates that the Nifty is likely to take immediate support at 21,971, followed by 21,882 and 21,738 levels, while on the higher side, it may see immediate resistance at 22,252 followed by 22,348 and 22,492 levels.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms, which could impact Indian as well as international markets.
GIFT Nifty
Trends in the GIFT Nifty indicate a positive start for the broader index in India, with a gain of 39 points or 0.18 percent. The Nifty futures were trading around the 22,306 level.
Trade setup for today: Top 15 things to know before the opening bell
Asian Markets
Asia-Pacific markets inched higher Friday, with investors awaiting data on China’s property prices to assess any signs of improvement in the debt-laden real estate sector.
S&P 500, Dow surge to record closing highs as Nvidia sparks AI frenzy
The S&P 500 and Dow Jones Industrial Average both surged to record closing highs on Thursday, powered by investors piling into growth and technology stocks the day after artificial intelligence poster child Nvidia’s bumper earnings and outlook.
The S&P 500 ended at a record high, gaining 105.23 points, or 2.11 percent, to 5,087.03, as did the Dow Jones Industrials, which closed at 39,069.11 after rising 456.87 points, or 1.18 percent. It was the first time the Dow has ever finished above 39,000 points.
The Nasdaq Composite added 460.75 points, or 2.96 percent, to 16,041.62.
Inflation remained key focus in RBI MPC meet in February, show minutes
The members of the Reserve Bank of India’s (RBI) monetary policy committee (MPC) remained cautious on inflation prints due to uncertainty in food prices, according to the minutes of the MPC meeting released on February 22.
“Food price uncertainty remains a major source of volatility for headline inflation outlook. Growing geopolitical tensions and supply chain disruptions due to new flash points also pose further risks to the inflation outlook,” RBI Governor Shaktikanta Das said in the minutes of the February round of monetary policy review.
“Monetary policy must remain restrictive and maintain downward pressure on inflation while minimising the output costs of disinflation,” said RBI Deputy Governor Michael Debabrata Patra.
During February monetary policy review, RBI Governor Das said recurring food price shocks could interrupt the ongoing disinflation process, with risks that it could lead to de-anchoring of inflation expectations and generalisation of price pressures.
Angel One to raise up to Rs 2,000 cr via preferential issue, QIP or other modes
Angel One will raise up to Rs 2000 crore through preferential issue, QIP or other modes, said the company on February 22.
The purpose of this fund raise is to augment and build financial flexibility to grow the business and harness various emerging opportunities both within the existing and expanding broking business and across the inorganic universe within the fintech space, said the company in a stock exchange filing.
“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,” said the company.
India Ratings pegs FY25 GDP growth at 6.5%, says signs ‘bullish’ for private capex
India’s GDP is expected to grow by 6.5 percent in 2024-25, according to India Ratings and Research. While this would represent a decline from the statistics ministry’s first advance estimate of 7.3 percent for the current financial year, the prospect of the private investment cycle bodes well for the economy.
Voda Idea to discuss fundraising on Feb 27, mulls rights issue, QIP, FPO, other means
Vodafone Idea will consider fundraising at a board meeting on February 27, the Aditya Birla Group telecom company said in an exchange notification.
The company said that the board will “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, by way of issue of equity shares or by way of issue of any instruments or securities including securities convertible into equity shares, Global Depository Receipts, American Depository Receipts or bonds including foreign currency convertible bonds, convertible debentures, warrants, and/or non-convertible debentures including non-convertible debentures along with warrants, which may or may not be listed.”
Crude
Oil futures settled higher on Thursday as hostilities continued in the Red Sea with Iran-aligned Houthis stepping up attacks near Yemen, but a large build in U.S. crude inventories weighed on gains.
Brent crude futures settled higher, up 64 cents or 0.77 percent at $83.67 a barrel. US West Texas Intermediate crude futures settled higher, up 70 cents or 0.9 percent at $78.61 a barrel.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,410.05 crore, while domestic institutional investors (DIIs) bought Rs 1,823.68 crore worth of stocks on February 22, provisional data from the NSE showed.
Stocks under F&O ban on NSE
The NSE has added Aditya Birla Fashion & Retail, and SAIL to the F&O ban list for February 23, while retaining Ashok Leyland, Balrampur Chini Mills, Bandhan Bank, Biocon, GMR Airports Infrastructure, GNFC, Hindustan Copper, Indus Towers, National Aluminium Company, Piramal Enterprises, PVR INOX, RBL Bank, and Zee Entertainment Enterprises to the said list. Canara Bank and India Cements were removed from the said list.
With inputs from Reuters and other agencies
