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Benchmark indices Sensex and Nifty 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 a highly volatile session, the benchmark indices erased all losses from the previous session, with the Nifty hitting a new all-time high of 22,252.50 driven by buying across sectors.
At the close on February 22, the Sensex rose 535.15 points or 0.74 per cent to 73,158.24, and the Nifty rose 162.50 points or 0.74 per cent to 22,217.50. The pivot point calculator indicates that the Nifty is likely to get immediate support at 21,971, followed by 21,882 and 21,738 levels, while on the upper side, you can see immediate resistance at 22,252 levels, followed by 22,348 and 22,492 levels.
Stay tuned to Moneycontrol to find out what’s happening in the forex and stock markets today. We have compiled a list of important headlines across news platforms, which could affect the Indian and international markets.
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Trends in the GIFT Nifty indicate a positive start for the broader index in India, with a gain of 39 points or 0.18 per cent. Nifty futures were trading around the 22,306 level.
Trading setup for today: The 15 most important things to know before the opening bell rings
Asian markets
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Asia-Pacific markets rose slightly on Friday as investors awaited data on Chinese property prices to gauge any signs of improvement in the debt-ridden housing sector.
S&P 500, Dow Jones Hit All-Time Closing Highs as Nvidia Sparks AI Frenzy
The S&P 500 and Dow Jones Industrial Average rose to all-time closing highs on Thursday, boosted by investors piling into growth and technology stocks the day after strong earnings and prospects from artificial intelligence model Nvidia.
The S&P 500 finished at an all-time 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 finished above 39,000 points.
The Nasdaq Composite added 460.75 points, or 2.96 percent, to 16,041.62.
Inflation remained the focus at RBI MPC meeting in February, minutes show
Reserve Bank of India (RBI) monetary policy committee (MPC) members remained cautious on inflation figures due to uncertainty in food prices, according to MPC meeting minutes released on February 22.
“Uncertainty over food prices remains a major source of volatility for the headline inflation outlook. Rising geopolitical tensions and supply chain disruptions due to new flashpoints also pose additional risks to the inflation outlook.” ” RBI Governor Shaktikanta Das said in the minutes of the February round. review of monetary policy.
“Monetary policy should remain restrictive and maintain downward pressure on inflation, while minimizing the production costs of disinflation,” RBI Deputy Governor Michael Debabrata Patra said.
During the February monetary policy review, RBI Governor Das said recurring food price shocks could disrupt the ongoing disinflation process, risking them leading to an unanchoring of inflation expectations. inflation and a generalization of price pressures.
Angel One to raise up to Rs 2,000 cr through preferential issue, QIP or other modes
Angel One will raise up to Rs 2,000 crore through preferential issue, QIP or other modes, the company said on February 22.
The purpose of this fundraising is to increase and develop financial flexibility to grow the business and take advantage of various emerging opportunities both within the existing and expanding brokerage business and across the inorganic universe within the fintech space, the company said in a presentation to the stock market.
“The equity fundraising plan of up to Rs 2,000 crore will enable the company to enhance its ability to invest beyond the current resources available, as well as enable it to remain fiscally prudent on its path to making Angel One a leading platform.” in financial technology,” the company said.
India Ratings pegs FY25 GDP growth at 6.5%, says signs are ‘bullish’ for private capital spending
India’s GDP is expected to grow 6.5 per cent 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 per cent for the current financial year, the outlook for the private investment cycle bodes well for the economy.
Voda Idea to discuss fundraising on February 27, considers issue of rights, QIP, FPO and other means
Vodafone Idea will consider raising funds at a board meeting on February 27, telecom company Aditya Birla Group said in an exchange notice.
The company said the board will “consider and evaluate each and every proposal to raise funds in one or more tranches by way of a rights issue, additional public offering, private placement, including preferential allotment, placement in qualified institutions or by any other permitted means.” and/or combination thereof, as deemed appropriate, by the issuance of shares or by the issuance of any instruments or securities, including securities convertible into shares, global depositary receipts, American depositary receipts or bonds, including bonds convertible into foreign currency, convertible debentures, warrants and/or non-convertible debentures, including non-convertible debentures together with warrants, which may or may not be listed.”
Raw
Oil futures closed higher on Thursday as hostilities in the Red Sea continued and the Iran-aligned Houthis stepped up attacks near Yemen, but a big rise in U.S. crude inventories weighed on gains.
Brent crude futures settled up 64 cents or 0.77 percent at $83.67 a barrel. U.S. West Texas Intermediate crude oil futures closed higher, up 70 cents, or 0.9 percent, at $78.61 a barrel.
FII and DII data
Foreign institutional investors (FIIs) sold net shares worth Rs 1,410.05 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,823.68 crore on February 22, provisional data from the NSE.
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 and National Aluminum 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 contributions from Reuters and other agencies.