US: NFB Small Business Index — 4:30 p.m.
US: PPI & Core PPI — 7:00 p.m.
US: Federal Reserve Bank of Kansas City President Jeffrey Schmid will speak at the Central Exchange at the Kansas City Federal Reserve Bank. Audience questions expected — 8:30 p.m.
US: Federal Budget Balance — 12:30 a.m.
US: New York Fed President John Williams will deliver opening remarks at an event hosted by the Federal Reserve Bank of New York — 1:35 a.m.
As of 3:33 p.m., the Dow Jones Industrial Average and S&P 500 futures rose 0.35% and 0.55% higher, respectively. The Nasdaq 100 future was 0.75% higher.
Market breadth was skewed in the favour of buyers. As many as 2,881 stocks rose, 1,087 fell, and 105 remained unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex snapped a four-day declining session.
The Nifty 50 and Sensex has the best session in over a week.
Adani Enterprises Ltd. and Adani Ports And Special Economic Zone Ltd. were top leaders in the Nifty 50 index.
HCLTech Ltd. and Hindustan Unilever Ltd. were top losers in the Nifty 50 index.
The NSE Nifty Midcap 150 ended 2.18% higher at 19,883.35
The NSE Nifty Smallcap 250 ended 1.63% higher at 16,422.75.
Rupee weakened by 15 paise to a record low of 86.70 against the US Dollar. The currency trades at 86.61 against the greenback.
Rupee weakens as much as 73 paise in 2 days. It closed at 86.58 on Monday, according to data on Bloomberg.
Share indices across most countries in the eurozone rebounded from Monday's decline as traders keep a close on bond yields. On Monday, markets logged losses as bond yields in core economies of Europe rose and dollar index strengthens.
The Euro stoxx 50 was 0.94% higher while CAC 40 was 1.10% up. IBEX 35, Spain's benchmark index was 0.66% higher as of 1:58 p.m.
Awfis Space Solutions Ltd. has launched a 47,694 square feet center in Lucknow, according to an exchange filing.
Adani Commodities has sold a 13.52% stake in Adani Wilmar Ltd. via an Offer for Sale, reducing the stake held by the promoter and promoter group to 74.36%, according to an exchange filing.
Goa Carbon has temporarily shut down operations at its Bilaspur unit in Chhattisgarh for urgent maintenance work, according to an exchange filing.
Tembo Global Industries announced that its Tembo Defence Products will sign an MoU with the Maharashtra Government at the World Economic Forum in Davos, according to an exchange filing.
Fischer Medical has received a CDSCO license to manufacture MRI systems, according to an exchange filing. CDSCO stands for the Central Drugs Standard Control Organisation.
5paisa Capital Ltd. has appointed Gaurav Seth as its new CEO, according to an exchange filing.
Open market operations to afford more flexibility than variable rate repo auctions
Bankers expect open market operations, buy-sell swap currency swaps to be primary liquidity tools
RBI had moved to VRR auctions as primary liquidity management tool in Feb 2022
Liquidity currently in deficit mode
Liquidity deficit at Rs 2.50 lakh crore
Will wait for one or two quarters before hiking prices if needed
Customers who were trading fewer lots might move to cash markets where higher charges could benefit revenues
Expect impact of lower F&O volumes to start normalizing after one or two quarters
December saw the highest ever number of new SIP registrations at 9 lakh
JSW Energy Share Price Snaps Eight-Session Fall On Approval Of Resolution Plan For KSK Mahanadi Power
ICICI Securities initiated coverage on Power Finance Corp, REC Ltd. with Buy rating.
Paradigm shift, favouring renewables and with it tide of capex
Individually command ~20% market share each in financing the power sector
At a vantage to ride this energy transition tide
Value PFC at 1.3x FY26E BV with a 25% discount for REC stake
Value REC at 1.7x FY26E BV
PFC: 550 (+36%)
REC: 600 (+32%)
Tata Communications Ltd. has strengthened its partnership with Jaguar Land Rover to deliver smarter, data-driven connected cars, with JLR set to supercharge next-generation vehicle connectivity through Tata Communications MOVE, according to an exchange filing.
Quadrant Future Tek listed at Rs 374 on BSE compared to issue price of Rs 290. It debuted at a premium of 28.9% on BSE.
Quadrant Future Tek shares were listed at a Rs 370 on NSE compared to issue price of Rs 290 apiece. It listed at a premium of 27.6% on NSE.
The yield on the India's 10-year government bond was trading flat at 6.85% as of 09:45 a.m. The yield on the 10-year bond opened flat at 6.84%. It closed at 6.85% on Monday, according to data on Bloomberg
Mahanagar Gas Gets 'Overweight' Rating From Morgan Stanley As It Sees 'Tesla-Like Moment' For Gas Adoption
Market breadth was skewed in favour of buyers. Around 2,056 stocks advanced, 750 stocks declined, and 115 stocks remained unchanged on BSE.
Rupee Strengthened 6 paise to open at 86.52 against the dollar. It closed at 86.58 on Monday, according to data on Bloomberg.
HCLTech Ltd. has expanded its partnership with Microsoft to help transform contact centers using generative artificial intelligence and cloud-based solutions, according to an exchange filing.
Nifty constituent changes due in February, effective 31st March
Potential inclusions: Jio, Zomato
Potential exclusions: BPCL, Brittania
Flows, if inclusions & exclusions play out:
Zomato to see inflow of $620mn, 3.8x avg daily volume
Jiofin to see inflow of $356mn, 6.1x avg daily volume
BPCL to see outflow of $212mn, 10x avg daily volume
Brittania to see outflow of $229mn, 9.8x avg daily volume
Morgan Stanley initiates coverage on Mahanagar Gas Ltd. with 'Overweight' at Rs 1,606 target, which implied a 25% upside
Mumbai's travel needs key to MGL's value creation
Mumbai vehicle population to rise 13% more by FY30
According to Morgan Stanley said that125 bn + annual miles market to leave untapped market opportunity for MGL
Believe MGL's market position can more than double as CNG takes further share
Every oil to CNG converted vehicle provides 20 years of assured cashflows
Likes MGL's strategy to provide cash incentives for heavy vehicle conversions to CNG
Margins to be lower due to LNG market gas sourcing
Volume growth to be structurally higher
Key Risk: Slower CNG demand on new public transport, higher costs
Initiating Buy with a target price Rs 12,700, which implied a 21% upside
APAR a favored play on India’s T&D capex super-cycle that would spur demand for high value-added/efficient conductors.
Estimate 10–12% volume growth for the conductor’s segment coupled with Rs 40,000 EBITDA/mt by FY27E
The C&W segment shall compound at 25–30% over FY24–27E
Values at 38 times blended PE.
Key risks: Global shocks, highly competitive intensity, adverse working capital management and slowdown in T&D ordering.
Target price slashed 39.8% to Rs 362 vs Rs 601 earlier
Coal India to reach 1 billion tonnes production by FY30 and not FY27 target
Growing production of low grade coal to impact realisations
Gradually reducing plant load factors of thermal power plants a negative
Higher commercial/ captive mining stands as a direct loss of opportunity
Lack of meaningful impact from new thermal power plants to limit performance momentum
Cut FY25-27 EPS estimates by 9-13%
Expect Coal India to see revenue/EBITDA/PAT CAGR of 4%/ 1%/ -1% over FY24-20
Maintain market perform with a target price Rs 2,000, which implied a 1% upside.
Delivered a resilient quarter with overall revenue grew
Management commentary was positive; in-line with up-cycle outlook in 2025
Deal wins were at $2.1 billion, on improving trajectory
FY26 growth outlook is to better than FY25 with soft Q4
Valuations are inline with Tata Consultancy Services Ltd. and Infosys Ltd. keeping risk/reward in the balance
Most share indices in the region were trading lower as concerns regarding monetary condition in the US continued to weigh on sentiment. The Nikkei 225 and KOSPI 1.41% and 0.10% down, respectively as of 7:14 a.m. The S&P ASX 200 was 0.26% higher.
Most share indices on Wall Street ended higher on Monday as a dip-buying fulled a rebound, Bloomberg reported. The Dow Jones Industrial Average and S&P 500 ended 0.86% and 0.16% higher, respectively.
The Nasdaq Composite ended 0.38% down.
Stock Market Highlight: Sensex, Nifty Extend Declines For Fourth Straight Session To End Over 1% Lower