Stocks and U.S. equity futures fell Monday, as higher prices threatened to stall global growth and trigger inflation shock in the economy. Oil soared on the prospect of a ban on Russian crude supplies.
Havens including sovereign bonds rallied, as Brent crude hit $139 a barrel, and West Texas Intermediate scaled $130 a barrel, before both paring some of the intense rally.
S&P 500 and Nasdaq 100 contracts fell more than 1%, and Japan led losses in Asian shares. Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50 Index, fell 0.62% to 16,143.50 points as of 6:10 am.
The euro sank—dropping to parity against the Swiss franc for the first time since 2015—on concerns about the economic outlook for Europe, which relies on Russian energy. Sovereign bonds, gold and the dollar advanced, with the U.S. 10-year Treasury yield falling to about 1.70%. Bitcoin fell below $38,500.
Stocks To Watch
Wipro: The Bengaluru-based IT company has appointed Nicolas (Nic) Parmaksizian as chief executive officer of Designit.
PNB Housing Finance: The non-bank lender is planning a fundraising by issuing equity shares through appropriate methods—including rights issue—on March 9.
Reliance Industries: India's largest firm by market value announced opening of Jio World Centre in Mumbai's Bandra Kurla Complex.
BKT: The company has commenced commercial production of Brown Field Expansion and Debottlenecking Project at BHUJ Plant. The production of tyres will be increased upto 50,000 MTPA.
Rajratan Global Wire: The shareholders approved stock split of one share of Rs 10 each into five shares of Rs 2 each on March 16.
Privi Speciality Chemicals: The company, along with Givaudan SA, subscribed equity share capital of joint venture Prigiv Specialities.
Poonawalla Fincorp: The company's CEO Vijay Deshwal has stepped down from the position to take up the strategic role within the Cyrus Poonawalla Group.
Tube Investments: The firm has completed acquisition of 1,41,677 equity shares of face value of Rs 10 each, representing 70% paid-up share capital of Cellestial.
Info Edge: The company has invested Rs 91 crore in Asia Network for 76% stake.
3i Infotech: The company has been awarded a work order by the Rajasthan State Pollution Control Board for design, development, implementation and maintenance of 'Integrated E-Governance Solution 2.0'. The total contract value is Rs 12.85 crore.
Dilip Buildcon: To sell 10 projects to Shrem at $309-million valuation.
Nazara Technologies: Approved issuance Rs 25 crore of shares to shareholders of Datawrkz, to hold 33% stake in Datawrkz after deal.
Nestle India: To consider final dividend on April 22.
Shriram Transport: Approves raising up to Rs 77.7 crore via bonds.
Pledged Shares Details
Future Retail: Promoter Future Corporate Resources invoked a pledge of 13.37 lakh shares between Feb. 28 and March 2.
Insider Trades
Bajaj Holdings & Investments: Promoter group Bachhraj & Company bought 84,551 shares between March 2 and March 3.
Vaibhav Global: Promoter group Brett Enterprises bought 2,500 shares on March 3.
Strides Pharma Science: Promoter Pronomz Ventures bought 52,000 shares between Feb. 28 and March 3.
Dhani Services: Promoter Zelkova Builders bought 1.6 crore shares on March 2.
Alembic Pharmaceuticals: Promoters bought 67,328 shares between March 2 and March 3.
Nuvoco Vistas Corporation: Promoter Niyogi Enterprise bought 2 lakh shares on March 3.
KCP: Promoter Dr VL Indira Dutt bought 20,000 shares between March 2 and March 4.
Block Deals
Lloyds Metals and Energy: Shree Global Tradefin sold 64 lakh shares (1.73% stake) at Rs 115.4 apiece. Sky United LLP bought 64 lakh shares (1.73% stake) at Rs 115.4 apiece.
Who's Meeting Whom
Bajaj Electricals: To meet investors on March 8.
Trading Tweaks
Price band revised from 20% to 10%: Future Enterprises
Money Market Update
The rupee ended at 76.16 against the U.S. dollar on Friday as compared to Thursday's closing of 75.91.
F&O Cues
Nifty March futures ended at 16,266.60, a premium of 21.25 points.
Nifty March futures added 1.35% and 3,423 shares in Open Interest.
Nifty Bank March futures ended at 34,425.95, a premium of 18.15 points.
Nifty Bank March futures shed 10.85% and 11,571 shares in Open Interest.
Research Reports
Metals Sector Check - Russia-Ukraine Crisis Sets Metals On Fire: Motilal Oswal
IRCTC - Indian Railways To Normalise Second Seating To Unreserved Class: Dolat Capital
FMCG Sector Check - Geopolitical Tensions Heighten Commodity Woes: Motilal Oswal
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