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As of 3:31 p.m., the Dow Jones Industrial Average, S&P Futures were trading 0.01% and 0.24% higher, respectively. The Nasdaq 100 future was 0.34% higher.
US: Empire State Manufacturing Index — 7:00 p.m.
US: NAHB Housing Market Index — 8:30 p.m.
US: Federal Reserve Bank of San Francisco President Mary Daly will speak at the American Bankers Association's Conference for Community Bankers, in Phoenix — 8:50 p.m.
US: Federal Reserve Governor Michael Barr will speak at the Council on Foreign Relations, in New York — 11:30 p.m.
Infosys has partnered with Lufthansa Group to accelerate digital innovation in the aviation industry.
Goldiam International is considering setting up a manufacturing facility in the United States.
Ridham Desai believes that the market has overlooked critical positives from the recent budget and the central bank’s policy shift.
"The budget was phenomenal. It continues to consolidate the fiscal deficit at a slower pace while increasing capex and cutting taxes. That’s an incredible combination for the economy, and at the same time, the RBI has pivoted," he said.
Despite these tailwinds, Desai remarks that the market lacks enthusiasm. "I am amazed that people don’t see this as an opportunity. In hindsight, they will realize it. It is impossible to catch the exact bottom, but if the market dips another 5-7%, investors should buy more. The outcome will be favorable."
Regarding recent market corrections, Desai emphasized that such volatility is normal. "Markets do not move in a straight line. This correction stemmed from a growth slowdown, largely due to fiscal consolidation and RBI’s hawkish stance. That slowdown lasted for two quarters, but in my view, we are already coming out of it," he added.
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Banks, telecom and healthcare are Citi's preferred themes after a "meaningful" market correction from peak levels is set to make way for positive growth, while being 'underweight' on information technology, metals and consumer discretionary.
Post the correction, valuations for large-cap stocks are reasonable and the top-down drivers for consumption growth due to direct income tax cuts, interest rate cut, and decline in inflation as well as public capex recovery from December are improving, it said. "We remain constructive," Citi analysts Surendra Goyal and Vijit Jain said in a note on Monday.
Read more here.
Star Cement has commissioned a 7 MW AQC boiler for its West Heat Recovery System at Lumshnong, Meghalaya.
Vinati Organics Ltd. has incorporated a wholly-owned subsidiary in the United States.
KPI Green Energy Share Price Declines After Shares Turn Ex-Dividend
In my view, we're already out of a slowdown, Morgan Stanley Equity Research Head India Equity Strategist Ridham Desai said. Markets do not go up in a straight line, they're bound to slow.
Foreign investors are more underweight on Indian stocks now than they have been in decades He doesn't worried impact of US President Donald Trump's actions and announcements, Desai said. India-US Deal Will Help Ensure Overall Co-operation. Underweight position of foreign investors in the emerging markets is at an all-time low.
Market has ignored what has been one of the biggest pivots in banking history in modern India. Indian households have put more cash into gold than equities over last 10 years, he said speaking at a discussion at NDTV Profit Conclave.
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Ridham Desai of Morgan Stanley, Dinesh Thakkar of Angel One and Ashishkumar Chauhan of NSE discusses how the Indian equity market has matured over time at NDTV Profit Conclave
Track live updates on NDTV Profit Conclave
Tech Mahindra Ltd.'s subsidiary, Cerium Systems, will merge with the company, according to an exchange filing.
ABB Share Price Rises After Third Quarter Net Profit Increases
Zaggle Prepaid Ocean Services Ltd. has entered into a five-year strategic partnership agreement with Redington, according to an exchange filing said.
Market breadth was evenly split between buyers and sellers. Around 1,534 stocks declined, and 1,260 stocks advanced, and 130 remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was 0.01% higher at 22,963.65, and the BSE Sensex was 0.12% higher at 76,087.00.
The yield on the 10-year bond opened flat at 6.69%.
It closed at 6.69% on Monday.
Source: Bloomberg
Rupee weakened by 5 paise to open at 86.93 against the US Dollar.
It closed at 86.88 on Monday.
Source: Bloomberg
Patel Engineering has been declared the lowest bidder for a Rs 1,090 crore irrigation project in Maharashtra, with its share being Rs 218.1 crore.
European Commission grants marketing authorisation for Biocon Biologics' Bevacizumab biosimilar, YESINTEK, in the EU.
Gold price in India cooled to Rs 85,250 per 10 grams as of 6:00 a.m. on Feb. 18, according to the India Bullion Association. The prices fell nearly Rs 1,200 from Feb. 10 level.
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Crude oil prices erased early gains in the Asia sessions. The prices rose after the Organization of Petroleum Exporting Countries and its allies is reported to consider delaying output restoration.
Further, Ukraine's attack on a crude pumping station of Russia slowed supply from the main pipeline in Kazakhstan.
As of 8:02 a.m., brent crude was trading 0.15% down at $75.11 a barrel. It rose as much as 0.11% to $75.30 a barrel in Asia session so far.
Asian Stocks To Edge Higher After Gains In Europe: Markets Wrap
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