Good morning!
The GIFT Nifty is trading 0.12% higher to 25,622, indicating a flat-to-positive start to the benchmark Nifty 50 index. The futures contracts for the S&P 500 and the Euro Stoxx 50 are down 1.04% and 0.24%, respectively.
India Market Recap
Indian equity benchmarks extended rally for the second consecutive trading session, led by the gains in HDFC Bank Ltd. and Reliance Industries Ltd. The BSE Sensex closed 0.6% or nearly 500 points higher at 83,294, while the NSE Nifty 50 rose 0.6% to end above 25,700. The broader markets represented by the NSE Nifty 500 Index rose 0.4% led by Blue Jet and Aegis Vopak's 9% rally.
US Market Wrap
Stocks retreated and bonds strengthened as mounting worries about how artificial intelligence could erode corporate earnings added to the caution already triggered by ongoing tariff uncertainty. Risk appetite weakened across markets, with Bitcoin slipping below $65,000 and gold advancing.
The S&P 500 fell 1%, dragged lower by sharp declines in technology, logistics and payments companies after Citrini Research outlined potential AI‑related threats facing several industries. DoorDash Inc. and American Express Co. tumbled more than 6.5% each, while an exchange‑traded fund tracking software firms dropped 4.8%.
International Business Machines Corp. suffered one of the session's steepest losses, plunging 13% — its worst single‑day decline since October 2000. The selloff followed comments from Anthropic that its Claude Code tool could help modernize COBOL, the decades‑old programming language that still underpins many IBM‑run systems, raising concerns about future revenue streams tied to legacy technologies.
Asian Market Check
Asian equities slipped at the open as renewed worries over how artificial intelligence may weigh on corporate earnings extended the risk‑off mood from Wall Street. Lingering uncertainty around U.S. tariff policy further dampened sentiment across regional markets.
The MSCI Asia Pacific Index dipped 0.2%, while South Korea — often seen as a gauge for global AI investment trends — declined 0.5% in early trading. Investors will next turn their attention to mainland Chinese markets, which reopen later today after the long Lunar New Year break, setting the stage for the region's next major trading cue.
ALSO READ: Asian Stocks Drop At Open, China Set To Return: Markets Wrap
Commodity Check
Gold extended its winning streak for a fifth straight session as investors gravitated toward safe‑haven assets amid renewed uncertainty over U.S. trade policy and continued friction between Washington and Tehran. Spot prices hovered near $5,240 an ounce in early trade, adding to the more than 7% surge logged in the previous four sessions.
Market sentiment has been unsettled since President Donald Trump signaled plans to raise a global import levy to 15%, a move he floated after the U.S. Supreme Court struck down his earlier reciprocal tariff framework. The policy confusion has amplified demand for risk‑off assets, lifting bullion prices sharply.
Oil prices were steadier, even as geopolitical tensions remained elevated. West Texas Intermediate traded near $66 a barrel after ending little changed on Monday, while Brent held below $72. Trump said he preferred securing a nuclear agreement with Iran ahead of scheduled talks this week but warned of consequences if Tehran failed to strike a deal. In a social‑media post, he added it would be a “very bad day” for Iran should negotiations collapse, and he dismissed reports suggesting Pentagon concerns about the feasibility of a prolonged military campaign.
Key Events To Watch
Tata Sons to hold board meeting.
Stocks In News
Samvardhana Motherson: The company launches a new automotive lighting unit in Gujarat via a joint venture with Marelli Europe SPA.
- Lupin: The company receives European Commission approval for its Ranibizumab biosimilar.
- Waaree Energies: The company's arm signs an agreement with ZFI to expand a 2.5-GW electrolyser project in Uttar Pradesh and bags a separate 500 MW solar module order from an unnamed producer.
- Concor: The company signs an MoU with Vizhinjam International Seaport to develop a Container Freight Station in Kerala.
- HFCL: The company joins a global consortium to collaborate on the development of Hollow-Core Fiber technology.
- Patel Engineering: The company's joint venture is declared the L1 bidder for a Rs 133.3 crore irrigation project in Maharashtra, with the company's share valued at Rs 68 crore.
- Bharti Airtel: The company plans to invest Rs 20,000 crore over the next few years to capitalise its NBFC arm, Airtel Money.
- Granules India: The company approves the preferential allotment of 2.5 crore convertible warrants and 51.3 lakh equity shares.
- Talbros Automotive: The Ministry of Corporate Affairs approves the incorporation of the company's joint venture, Lohum Talbros CarbonTech.
- Thomas Cook India & SOTC Travel: The companies jointly release the "Business Travel Report 2026."
- MedPlus Health: The company's arm receives a three-day drug license suspension order for one of its retail stores in Telangana.
- Morepen Labs: The company secures a commercial supply order worth Rs 825 crore under a CDMO arrangement from a global pharma company.
- SilverTouch Technologies: The company secures a purchase order from FSSAI to act as a Managed Service Provider for digital transformation and app development.
- Cholamandalam Investment & Finance: The company allots 1 lakh non-convertible securities to raise Rs 1,000 crore, including a greenshoe option.
- PC Jeweller: The company's arm incorporates PCJ Mining SARL in the Republic of Chad.
- Anthem Biosciences: The company executes its first loan agreement with its arm, Neoanthem Lifesciences, converting Rs 275 crore of debt into equity.
- RBL Bank: Chandan Sinha is re-appointed as the Non-Executive (Part-Time) Chairman, effective May 21.
- Greenply Industries: The company terminates its joint venture with Kulmeet Singh and will acquire his 50% stake in Greenply Alkemal Singapore.
- Signpost India: The company secures exclusive outdoor advertising rights in Kolkata for 10 years, with a projected gross revenue of Rs 450 crore.
- Pace Digitek: The company secures a Rs 159 crore purchase order from Reliance Industries for the supply of Li-ion battery packs.
- Easy Trip Planners (EaseMyTrip): The company incorporates a new arm, EaseMyTrip Academy.
- Shringar House of Mangalsutra: The company inaugurates a new unit in Kandivali, increasing its total production capacity from 2,500 kg to 4,000 kg per annum.
- Avenue Supermarts (DMart): The company opens three new stores across Rajasthan and Uttar Pradesh, taking its total store count to 452.
- Wonderla Holidays: The company reports no deviation in the utilization of its Rs 540 crore QIP proceeds.
- NBCC (India): The company secures a Rs 76 crore construction order from Dharanidhar University in Odisha.
- JSW Infrastructure: The company's arm receives a Project Completion Certificate from RITES for the Liquid Cargo Berth project at Jawaharlal Nehru Port.
- IDFC FIRST Bank: The bank clarifies that recent price volatility followed the identification of a Rs 590 crore fraud at its Chandigarh branch, noting that government de-empanelment reports are part of the ordinary course of business.
- Cyient: The company's arm incorporates a US-based entity, CDS Lavender Holdings.
- Blue Cloud Softech: The company is set to acquire a 100% stake in Global Impex Inc. from ConnectM Technology Solutions.
- Sigma Advanced Systems: The company bags a Rs 100 crore order from the Ministry of Defence to supply control electronics and actuation solutions.
- TCC Concept: The company receives NSE approval for the listing and trading of 4.8 crore equity shares.
- Vesuvius India: The board will meet on Feb. 26 to consider a dividend proposal.
ALSO READ: Airtel Outlines Mega NBFC Plans; Subsidiary Set For Rs 20,000 Crore Capitalisation In Coming Years
IPO Offerings
- PNGS Reva Diamond Jewellery: The IPO will open today. The total issue size is Rs 380 crore and is entirely of fresh issue. The price band of Rs 367 to Rs 386 per share.
Bulk & Block Deals
- Asian Paints: UPNISHAD HOLDINGS bought 325,000 shares for Rs. 2,410 per share and SMITI HOLDING AND TRADING COMPANY sold 325,000 shares for Rs. 2,410 per share
- Cohance Lifesciences: JASUB PROPERTY HOLDINGS bought 77 Lakhs shares for Rs. 306 per share, JASTI FAMILY TRUST sold 77 Lakhs shares for Rs. 306 per share
- Edelweiss Fin Serv: RASHESH CHANDRAKANT SHAH bought 1 crore shares for Rs. 118 per share, VENKATCHALAM ARAKONI RAMASWAMY sold 1 crore shares for Rs. 118 per share.
- Network 18 Media & Investments: NEXG VENTURES INDIA bought 71 Lakhs shares for Rs. 35.50 per share, ARIZONA GLOBALSERVICES sold 71 Lakhs shares for Rs. 35.50 per share
Insider Trades
- NCC: A V S R Holdings, Promoter, bought 3.50 Lakhs shares.
- MSP Steel & Power: Ilex, Promoter Group, bought 6.99 Lakhs shares and Sampat Marketing Company, Promoter Group, bought 11.33 Lakhs shares.
- Ashapura Minechem: CHETAN NAVNITLAL SHAH, Promoter, bought 85,000 shares.
F&O Cues
- Nifty Feb futures is up 0.45% to 25,700.30 at a discount of 12.7 points.
- Nifty Options 24th Feb Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 25,500.
- Securities in ban period: SAIL
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