Good morning!
The GIFT Nifty is trading 0.07% lower at 25,628, indicating a flat-to-negative start to the benchmark Nifty 50 index. The futures contracts for the S&P 500 and the Euro Stoxx 50 are up 0.81% and 0.91%, respectively.
Market Recap
Indian equity benchmarks resumed gains on Wednesday, following Tuesday's rout. The BSE Sensex rose 50 points to close at 82,276 and the NSE Nifty ended 0.23% higher at 25,482. The benchmark indices, however, erased morning gains as losses in Reliance Industries and SBI offset gains in ICIC Bank and Tata Consultancy Services Ltd.
Ten out of 15 sectoral gauges compiled by the NSE ended higher, led by the NSE Nifty Metal Index's 2.7% advance. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 0.4%.
ALSO READ: Trade Setup For Feb. 26: Nifty Finds Resistance At 25,600-25,650 Levels After Index Resumes Gains
US Market Wrap
Stock prices moved higher in late trading amid speculation that Nvidia Corp.'s upbeat forecast could renew enthusiasm for the artificial‑intelligence rally driving the current bull market.
After the regular session ended, a major $700 billion ETF tracking the S&P 500 advanced. Nvidia — widely viewed as a key indicator for AI‑related momentum — projected fiscal first‑quarter revenue of about $78 billion, topping analysts' expectations of roughly $72.8 billion. Its shares rose around 1.5% in after-hours trading.
Asian Market Update
Asian equities opened higher on Thursday, mirroring the upbeat momentum from Wall Street's previous session. The MSCI Asia Pacific Index climbed 0.8% at the open. However, overall sentiment remained restrained as investors reacted coolly to Nvidia Corp.'s latest sales forecast.
Despite issuing an upbeat outlook, Nvidia's shares surrendered earlier gains during extended U.S. trading. The muted response signaled persistent market unease around whether the AI boom may be overheating. In early Asian hours, U.S. equity‑index futures also slipped slightly, suggesting that investors remain cautious even as tech‑driven optimism continues to buoy global markets.
Commodity Check
Gold held steady on Thursday as traders assessed escalating geopolitical tensions in the Middle East alongside the potential fallout from new U.S. tariffs on global trade. Bullion traded near $5,180 an ounce, extending a nearly 6% gain over the past six sessions, with sentiment supported by a continued buildup of U.S. troops in the region that has kept global markets uneasy.
Oil prices inched higher before the U.S.–Iran talks, buoyed by rising anxiety over potential conflict and reports that several major Middle Eastern producers have increased exports amid uncertainty over future supply. West Texas Intermediate (WTI) hovered near $66 a barrel after a marginally lower close in the prior session. Brent crude remained below $71. A U.S. delegation — including special envoy Steve Witkoff — is scheduled to meet Iranian Foreign Minister Abbas Araghchi in Geneva on Thursday, as American forces continue to amass in the Middle East, adding to concerns about the stability of regional energy flows.
Key Events To Watch
- Prime Minister Narendra Modi in Israel on his second day of state visit.
- Indian govt's offer to sell shares of Indian Railway Finance Corp. opens for retail investors.
Earnings Post Market Hours
KSB Q3 (Cons, YoY)
- Revenue up 7.9% at Rs 784 crore versus Rs 726 crore
- Ebitda up 31.7% at Rs 130 crore versus Rs 98.4 crore
- Margin up 300 bps at 16.5% versus 13.5%
- Net Profit up 10.8% at Rs 81 crore versus Rs 73.1 crore
Stocks In News
- Shaily Engineering Plastics: The company secures a Rs 423 crore order from a domestic pharmaceutical company to supply pen injectors.
- Premier Energies: The company clarifies that recent tariff developments are industry-wide and it is not engaged in any undisclosed negotiations with US authorities.
- Waaree Energies: The company notes that the 126% duty on solar imports to the US is subject to regulatory proceedings, and its US manufacturing capacity will support existing commitments.
- CAMS: The company's joint venture, MF Central, appoints Supratim Bandyopadhyay as Non-Executive Chairman and Rajesh Krishnamoorthy as CEO.
- Lupin: The Maharashtra GST Department has initiated a search operation at the company's office.
- Balkrishna Industries: The board will meet on March 2 to consider raising funds through the issuance of Non-Convertible Debentures (NCDs).
- IRFC: The company signs a loan agreement with a consortium of SMBC and MUFG to raise approximately $400 million; additionally, the government will not exercise the oversubscription option for its OFS.
- Solarworld Energy: The company's arm signs a non-binding MoU with Intelenergi Global for cooperation in solar photovoltaic modules.
- Emmvee Photovoltaic: The company states it is insulated from US solar import duties as its manufacturing is aligned with domestic demand.
ALSO READ: KSB Declares Rs 4.4 Final Dividend — Check Record Date
- Adani Green Energy: The company incorporates a new arm, Adani Renewable Energy Middle East.
- GIC Housing Finance: The company allots 15,000 NCDs worth Rs 150 crore to ICICI Bank and Reliance General Insurance on a private placement basis.
- Shringar House of Mangalsutra: The company announces the passing of its promoter, Natwarlal Thadeshwar, on Feb. 24.
- SBI Life Insurance: The board approves an interim dividend of Rs 2.7 per share for FY26, with March 6 set as the record date.
- Zydus Lifesciences: The company plans to launch Semaglutide injections in India upon patent expiry using an exclusive, affordable, reusable adjustable single-pen device.
- Saatvik Green Energy: The company secures an order worth Rs 87 crore from an EPC company for the supply of solar PV modules.
- NALCO: The company launches a new IA91 grade aluminium alloy ingot.
- Highway Infrastructure Trust: The company receives a Letter of Award (LoA) worth Rs 15.6 crore for operations at the Katiyara Fee Plaza in Bihar.
- Reliance Industries: Reliance Enterprise Intelligence (REIL) allots shares worth Rs 597 crore to its arm and shares worth Rs 257 crore to Facebook Overseas.
- Alivus Life: The company reports that a recent fire at its Dahej unit was confined to one block and expects to resume production in the affected area by March.
- RBL Bank: SBI Mutual Fund receives RBI approval to increase its stake in the bank up to 9.99% within one year.
Bulk and Block
- Aditya Infotech: DIXON TECHNOLOGIES sold 44.95 lakhs shares, KOTAK MAHINDRA MUTUAL FUND bought 8.07 lakhs shares, MOTILAL OSWAL MUTUAL FUND bought 7.33 lakhs shares at Rs. 1,470 per share, HARI KHEMKA BUSINESS FAMILY TRUST sold 17.67 lakhs shares at Rs. 1,471.30 per share
- Aditya Infotech: 360 ONE MUTUAL FUND, WHITEOAK CAPITAL MUTUAL FUND, ABU DHABI INVESTMENT AUTHORITY STABLE, KEDAARA CAPITAL PUBLIC MARKETS FUND I, INVESCO MUTUAL FUND and ASHOKA WHITEOAK ICAV-ASHOKA WHITEOAK INDIA OPPORTUNITIES FUND bought 1.70 lakhs; EMPLOYEES PROVIDENT FUND BOARD bought 2.16 lakhs shares; TNTBC AS THE TRUSTEE OF NOMURA INDIA STOCK MOTHER FUND bought 2.59 lakhs shares; AXIS MUTUAL FUND and HDFC LIFE INSURANCE bought 2.75 lakhs shares; MOTILAL OSWAL MUTUAL FUND and KOTAK MAHINDRA MUTUAL FUND bought 12.24 lakhs shares at Rs. 1,470 per share
- Spice Jet: AUTHUM INVESTMENT & INFRASTRUCTURE sold 9.72 Cr shares at Rs. 13.09.
ALSO READ: Dalal Street's IPO Party Over? 60% Of Newly Listed Stocks Trade Below Issue Price
IPOs
Shree Ram Twistex IPO Update (Day 3)
- Overall Subscription at 43.66x
- NII portion subscribed 220.3x
- Retail portion subscribed 76.63x
- QIB portion subscribed 3.94x
Clean Max Enviro IPO Update (Day 3)
- Overall Subscription at 0.94x (94%)
- QIB portion subscribed 2.83x
- NII portion subscribed 0.54x (54%)
- Retail portion subscribed 0.06x (6%)
PNGS Reva Diamond IPO Update (Day 2)
- Overall Subscription at 0.83x (83%)
- QIB portion subscribed 0.96x (96%)
- Retail portion subscribed 0.66x (66%)
- NII portion subscribed 0.65x (65%)
Omnitech Engineering IPO Update (Day 1)
- Overall Subscription at 0.08x (8%)
- QIB portion subscribed 0.13x (13%)
- Retail portion subscribed 0.06x (6%)
- NII portion subscribed 0.06x (6%)
Insider Trades
- Shanti Educational Initiatives: Ronak Chiripal, Promoter sold 7.62 lk shares, Urmiladevi Chiripal, Promoter, sold 3 lk shares.
- C.E. Info Systems: Rashmi Verma, Promoter bought 46,049 shares
- NCC: A V S R Holdings, Promoter bought 4.70 lakhs shares
- Maharashtra Seamless: Haryana Capfin, Promoter Group bought 78,000 shares, Global Jindal Fin-Invest, Promoter Group bought 28,000 shares
- Man Infraconstruction: Parag K. Shah, Promoter & Director bought 1 Lakh shares
- Greenply Industries: Shakuntala Safeinvest, Promoter Group bought 21,700 shares
- Insolation Energy: Manish Gupta, Promoter & Director bought 47,000 shares, Vikas Jain Huf, Promoter Group bought 20,000 shares.
ALSO READ: SBI Life Declares Rs 2.7 Dividend — Check Record Date, Other Details
Price Band
- Price Band change from 20% to 10%: DEE DEVELOPMENT ENGINEERS
- List of securities shortlisted in Short - Term ASM Framework Stage: KRN Heat Exchanger and Refrigeration
- List of securities to be excluded from ASM Framework: Engineers India, RACL Geartech
F&O Cues
- Nifty Mar futures is up 0.10% to 25,624.90 at a premium of 142.4 points.
- Nifty Options 2nd Mar Expiry: Maximum Call open interest at 25,600 and Maximum Put open interest at 25,500.
- Securities in ban period: SAMMAANCAP
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