KEY HIGHLIGHTS
US Futures Slightly Higher Before FOMC Minutes Release
As of 3:30 p.m., the Dow Jones Industrial and S&P 500 futures were trading 0.05% and 0.04% higher, respectively. The Nasdaq 100 futures was 0.06% higher.
Economic Data Releases And Events For Feb 19 & 20
US: Housing Stats — 7:00 p.m.
US: Federal Open Market Committte Meeting Minutes — 12:30 a.m.
US: Federal Reserve Governor Philip Jefferson will speak at the Martin H. Crego Lecture in Economics, in New York — 3:30 a.m.
Australia: Employment Change — 6:00 a.m.
Australia: Unemployment Rate — 6:00 a.m.
China: One-year Loan Prime rate and Five-year Loan Prime Rate — 6:30 a.m.
China: Foreign Direct Investment
Europe: German PPI — 12:30 p.m.
Market At Close
The NSE Nifty 50 and BSE Sensex ended lower for second day.
The Nifty 50 and Sensex ended 0.05% and 0.04% down, respectively.
Dr. Reddy's Laboratories Ltd., Tata Consultancy Services Ltd., and Infosys Ltd. were top loser in the Nifty 50 index.
Bharat Electronics Ltd., Hindalco Industries Ltd., and Eicher Motors Ltd. were top gainer in the Nifty 50 index.
The NSE Nifty Realty rose the most, and the NSE Nifty IT declined the most.
The NSE Nifty Midcap 150 ended 1.35% higher.
The NSE Nifty Smallcap 250 ended 1.95% higher.
Stock Market Today: IndusInd Bank Partners With Professional Golf Tour Of India
IndusInd Bank has partnered with the Professional Golf Tour of India as its exclusive banking partner.
Stock Market Live Update: Ashok Leyland Secures Rs 298 Crore Order
Ashok Leyland has secured a Rs 298 crore order to supply low-floor, fully built buses to the Tamil Nadu State Transport Corporation.
European Market Update: Trade Mixed; Traders Parse UK CPI Data
Most share indices in the Eurozone were trading on a mixed note as traders parsed UK CPI data. UK's headline inflation rose 3% on the year in January against 2.8% estimated by analysts.
The Euro Stoxx 50 and DAX were trading 0.05% and 0.29% higher, respectively. The FTSE 100 and CAC 40 were trading 0.19% and 0.10% down, respectively as of 1:49 p.m.
Stock Market Live Updates: PVR Inox To Challenge Rs 1.2 Lakh Penalty Order
PVR Inox Ltd. intends to challenge the Bangalore district consumer redressal commission that ordered to pay Rs 1.2 lakh to a customer for long advertisements.
The company believes that it has a "strong" case and reiterated that it did not engage in unfair trade practices, according to a statement. "Have always adhered to legal and regulatory requirements"
The Bangalore consumer court had levied Rs 1.2 lakh penalty on PVR to be paid to customers who argued long advertisements ahead of movie screenings.
Source: PVR statement
Stock Market Live Updates: Tariff Scare Triggers Rs 2 Lakh-Crore Rout In Pharma Stocks
Shares of Indian pharmaceutical firms once again tumbled after a brief relief as US President Donald Trump plans tariffs of around 25% on automobile, semiconductor and pharmaceutical imports.
The benchmark for pharmaceutical shares — Nifty Pharma — has plunged over 13% this year from a potential trade war from Trump's tariff threats. The index slipped nearly 6% last week when Trump proposed his reciprocal tariff plans — affecting nearly every country, with India, Japan, and the European Union being hit the most.
Investors' wealth worth over Rs 2-lakh crore in Nifty Pharma was wiped out this year, mainly on account of Trump's tariff threats, according to Bloomberg data.
Analysts, however, remain optimistic on pharma companies, despite concerns over potential US tariffs. The impact of such tariffs would be minimal, given the essential nature of generic drugs in the US healthcare system, according to HSBC.
Indian pharmaceutical companies, which supply 60% of generic drug volumes to the US, are expected to continue playing a crucial role in lowering healthcare costs. HSBC anticipates that the market will remain focused on the long-term growth prospects of the sector.
Stock Market Live Updates: Raymond's Operations Unaffected By Cyber Security Incident
Raymond experienced a cyber security incident that affected some of its IT assets, but core systems and customer operations remained unaffected.
Jefferies Optimistic On Indian Two-Wheeler Makers Despite Growth Moderation
Jefferies Research is optimistic on Indian two-wheeler companies despite some moderation in growth this year — with firms seeing divergent growth. The brokerage also is cautious on Ola Electric Ltd., given the losses in market share.
Read the full article here.
Stock Market Live Update: Nava's Board Approves Rs-360-Crore Share Buyback
Nava's board has approved a share buyback worth Rs 360 crore at Rs 500 per share, authorizing the purchase of up to 72 lakh shares via tender offer.
Stock Market Live Update: Arkade Developers Secures Re-Development Rights For Mumbai Project
Arkade Developers has secured the redevelopment rights for a Mumbai project with a gross development value of Rs 740 crore.
Stock Market Live Update: Ashok Leyland Gets Rs 298 Crore
Ashok Leyland has received a Rs 298 crore order to supply 320 fully built buses to the Tamil Nadu State Transport Corporation.
Stock Market Today: Welspun Living Secures Highest ESG Rating In Textile, Apparel & Luxury Goods Category
Welspun Living has secured the highest ESG rating in the textile, apparel, and luxury goods category for 2024.
Stock Market Live Update: TCS Partners With MassRobotics In North America
Tata Consultancy Services has partnered with MassRobotics in North America to drive innovation in the robotics sector, the company said in an exchange filing.
Zen Technologies Share Price Rebounds Over 10%
Shares of Zen Technologies Ltd. surged by over 10% on Wednesday, hitting upper circuit limit as it showed signs of recovery from a steep 30% decline over the past two days.
Stock Market Live Update: Ola Electric Re-Negotiates Terms of Agreement With Rosmerta Digital Services
Ola Electric Mobility Ltd. is renegotiating its agreements with Rosmerta Digital Services and Shimnit India, which has temporarily impacted February registrations. Despite this, sales remain strong, and the registration dip is expected to be streamlined in the coming weeks.
Stock Market Live Updates: Aurobindo Pharma Falls Over 9%
Shares of Aurobindo Pharma Ltd. fell by over 9% on Tuesday, following announcement of the completion of a US FDA pre-approval inspection at Eugia Steriles Pvt., a 100% step-down subsidiary located in Parawada Mandal, Andhra Pradesh. The inspection, which took place from Feb. 10 to Feb. 18, concluded with five observations, which the company has committed to addressing within the stipulated time frame.
Stock Market Live Update: Hexaware Technologies Lists At Rs 745.5 On NSE
Hexaware Technologies Ltd. shares listed on the National Stock Exchange at Rs 745.5 per share, a premium of 5.2% from the issue price of Rs 708 apiece. The shares debuted on the BSE at Rs 731 per share, marking a premium of 3.2%.
Patel Engineering Share Price Up After Company Bags Rs 1,090-Crore Irrigation Project
Patel Engineering Ltd.'s share price traded higher during early trade on Wednesday after the company and its joint venture partner were declared the lowest bidder for a large irrigation project in Maharashtra.
Stock Market Today Live Updates 63 Moons Technologies Participates In Settlement Scheme Between NSEL
63 Moons Technologies' board has approved the company's participation in a settlement scheme between National Spot Exchange (NSEL) and traders.
Nifty, Sensex Open Lower As HDFC Bank, ICICI Bank Share Prices Drag
The NSE Nifty 50 and BSE Sensex opened lower as HDFC Bank and ICICI Bank Ltd. share prices dragged. As of 9:18 p.m., the Nifty 50 was 109.20 points or 0.48% down at 22,836.10, and the Sensex was 296.50 points or 0.39% down at 75,670.89.
"Furthermore, for two consecutive days, the high and close of Nifty have been nearly identical, suggesting that Nifty is on the verge of a positive turn. In terms of options data, Nifty is witnessing an expansion in its resistance levels," said Ameya Ranadive, a senior technical analyst, StoxBox. "Previously, high open interest was concentrated between 23300 and 23500, a zone that served as resistance. Currently, there is a buildup of open interest at 23200, indicating an increase in the resistance level. If it breaks 23200 a small upside move can be seen."
ICICI Bank Ltd., Tata Consultancy Services Ltd., Infosys Ltd., Reliance Industries Ltd., and Sun Pharmaceutical Industries Ltd. weighed on the Nifty 50 index.
NTPC Ltd., Kotak Mahindra Bank Ltd., Larsen & Toubro Ltd., Tata Motors Ltd., and Tata Steel Ltd. added to the Nifty 50 index.
On NSE, six sectoral indices declined, five advanced, and one remained flat out of 12. The NSE Nifty Pharma declined the most, and the NSE Nifty Metal rose the most.
The BSE Midcap and Smallcap indices were trading 0.13% and 0.81% higher, respectively.
On BSE, 12 sectors advanced, and nine declined out of 21. The BSE Healthcare rose the most, and the BSE Realty declined the most.
On BSE, market breadth was skewed in favour of buyers. Around 1,819 stocks advanced, 989 stocks declined, and 135 stocks remained unchanged on BSE.
Stock Market Live Updates: Nifty, Sensex Trade Lower At Pre-Open
At pre-open, the NSE Nifty 50 was trading 0.43% down at 22,847.25, and the BSE Sensex was trading 0.24% down at 75,788.27.
Stock Market Today: Prime Focus's Unit Acquires Metaphysic
Prime Focus' subsidiary Brahma has acquired Metaphysic to accelerate development of its AI-native product suite.
Stock Market Live: Netweb Technologies Launches New AI Lab Cluster
Netweb Technologies Ltd. launched a new AI lab cluster appliance product 'Skylus.AI', said the company in an exchange filing.
Macquarie On Suven Pharma
Initiate Outperform with a target price of Rs 1,500
Suven Pharma is set to benefit from high-growth cutting-edge CDMO segments and its proven track record to drive traditional business
Has a solid antibody-drug conjugate (ADC) CDMO platform and is building capabilities in the Oligonucleotide segment
See its earnings set to grow sixfold by FY30E off a FY24 base
Oil Prices Extend Gains To Third Session As OPEC+ Mulls Supply Delays
Oil future prices extended gains to a third session as the Organization of Petroleum Exporting Countries and its allies are mulling a postponement of supply increases.
Meanwhile, supplies from Kazakhstan to Black Sea will decline around 30% because of the repair work of the key pumping station in Russia due to Ukraine attack, Bloomberg reported.
Brent crude was trading 0.31% higher at $72.07 a barrel as of 8:01 a.m.
Asia Market Update: Most Share Indices Decline On Trade War Concern
Most share indices in the Asia-Pacific declined on Wednesday as the US President Donald Trump threatened to impose more tariffs. He threatened that the US will impose tariff on automobiles, semiconductors, and pharmaceutical products around 25%.
The Nikkei 225 and Hang Seng were trading 0.29% and 0.57% down, respectively.
GIFT Nifty Above 22,900; Container Corp, IREDA, L&T Share Prices In Focus
The GIFT Nifty was trading above 22,900 early on Wednesday. Container Corp., Indian Renewable Energy Development Agency Ltd., and Larsen & Toubro Ltd. stocks will be in focus.
The GIFT Nifty was trading 0.02% or 4.50 points down at 22,967.50 as of 6:45 a.m.
India's benchmark equity indices ended marginally lower on Tuesday, managing to reverse steeper losses. Information technology and oil and gas stocks rallied, while consumer durables and autos faced selling pressure.
The Nifty 50 ended 14.2 points or 0.06% lower at 22,945.3, and the Sensex closed 29.47 points or 0.04% down at 75,967.39 on Tuesday.
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