Scan to Download
Indian equity benchmarks snapped a two-day losing streak on Tuesday as crude oil prices retreated sharply from the previous session's highs, easing concerns over inflation and input costs for businesses. The Nifty 50 rose 0.97% to settle at 24,261.60, while the Sensex ended 0.82% higher at 78,206. Both indices traded higher through the session. The Nifty climbed as much as 1.05% intraday to 24,280.80, while the Sensex rose up to 1.04% to 78,375.33 before paring some gains toward the close.
Market sentiment improved after crude oil prices fell sharply following Monday's historic surge that had briefly pushed prices close to $120 per barrel. WTI crude dropped to about $86 per barrel on Tuesday, while Brent crude traded near $90 after the sharp reversal. Oil prices eased after signals from Washington that the United States may take steps to stabilise energy markets. US President Donald Trump said he was considering taking control of the Strait of Hormuz, the world's most important chokepoint for oil shipments, while indicating that ships were continuing to move through the waterway.
Improving cues also supported global equities. US stock futures turned positive after trading lower earlier in the session. Dow futures were up 197 points, or 0.4%, while S&P 500 futures rose 0.4% and Nasdaq 100 futures gained 0.5%. European markets advanced broadly, with the Stoxx Europe 600 rising 2.10% and Germany's DAX gaining 2.36%. Asian equities also ended higher earlier in the day, led by a 5.35% jump in South Korea's Kospi.
Indian government-owned oil marketing companies on Tuesday said they will review requests from commercial establishments for supply of liquified petroleum gas based on "merit, necessity, and product availability" amid severe shortage due to the Middle East conflict.
"In light of current geopolitical disruptions affecting global fuel supply, steps have been taken to enhance LPG production and prioritise its availability for domestic consumers and essential non-domestic sectors such as hospitals and educational institutions. Requests from other non-domestic sectors will be reviewed by a committee of Executive Directors from Oil Marketing Companies and prioritised based on merit, necessity, and product availability," a joint statement from Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. said.
Cyient announced a strategic partnership with Prospecta, a leader in enterprise Master Data Management (MDM) and data governance solutions. The partnership brings together Cyient’s deep domain expertise in engineering and asset lifecycle management with Prospecta’s cloud-native Master Data Management and data governance platform.
Source: Statement
Tech Mahindra Digital Pty, a step-down wholly-owned subsidiary of the company, has been voluntarily liquidated.
Source: Exchange filing
Actively managed equity funds saw net inflows of Rs 25,978 crore in February versus Rs 24,028 crore in January, while overall mutual fund net inflows were Rs 94,530 crore versus Rs 1.56 lakh crore.
Category inflows in February: large-cap Rs 2,112 crore (vs Rs 2,005 crore), mid-cap Rs 4,003 crore (vs Rs 3,186 crore), small-cap Rs 3,881 crore (vs Rs 2,942 crore), flexi-cap Rs 6,925 crore (vs Rs 7,672 crore), and sectoral/thematic Rs 2,987 crore (vs Rs 1,043 crore).
Aviation, fertiliser and paints: Donald Trump says the Iran war may be over soon; Astral, Supreme and Finolex Industries: PVC price increase.
BEL and Bharat Dynamics: Indonesia agreement for BrahMos missile; IdeaForge: drone flight testing programme for NATO; Dixon Tech: government nod for JV with China’s HKC Overseas.
Arvind SmartSpace: Adi Pirojsha Godrej acquired shares
Responsive Industries and Paradeep Phosphates: promoter buying
IDFC First Bank: Chandigarh Municipal Corporation flags Rs 116-crore security fraud
Swan Defense: promoter to sell 5% stake via OFS
Cipla: US arm to recall Lanreotide batches.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
