As of 3:40 p.m., benchmark US index futures were trading mixed. The contracts for S&P 500 and Dow Jones Industrial Average were down 0.04% each. The Nasdaq 100 futures traded 0.11% higher.
Rupee closed flat at 86.89 against the US Dollar. It closed at 86.89 on Wednesday.
Source: Bloomberg
The Nifty and Sensex gave up intraday gains to potentially extend their losses to the seventh day. The Nifty 50 is still keeping above the important support level of 23,000 on its weekly futures expiry day, while the Sensex is down nearly 100 points to just above 76,000.
New Income Tax Bill Tabled In Lok Sabha
Adani Green Energy said it is withdrawing its bid to develop 484 MW wind project at Mannar and Pooneryn in Sri Lanka, along with its associated transmission system.
The company had received all approvals from the government and spent about $5 million on the predevelopment activities.
Howeever, after the Sri Lankan cabinet appointed the negotiations committee and project committee to renegotiate the project proposal, Adani Green has decided to quit the project.
(Source: Exchange filing)
Hindustan Petroleum Corp has over 19 lakh shares traded in a block deal.
Source: Bloomberg
Nifty 50 up 0.77%; intraday high 0.8%
Sensex up 0.75%; intraday high 0.78%
Nifty Bank up 0.6%; intraday high 0.7%
Nifty Midcap 150 up 1.34%; intraday high 1.4%
Nifty Smallcap 250 up 0.8%; intraday high 1.1%
Nifty Metal, Nifty Pharma lead sectoral gains
Nifty IT sole sectoral loser
Top Nifty Gainers: Tata Steel, Bajaj Finance, Bajaj Finserv
Top Nifty losers: Adani Enterprises, Infosys, Her MotoCorp
The RBI Governor Sanjay Malhotra meeting with select NBFCs and micro finance institutions today. The meeting will focus on industry issues.
Malhotra had previously met with bank MD and CEOs as part of regular industry consultation by the regulator.
(Sources to NDTV Profit)
The Hexaware Technologies IPO has been subscribed 4% as of 11:00 a.m.
Qualified institutional buyers: 4%
Non-institutional investors: 2%
Retail investors: 5%
Employee reserve: 13%
The grey market premium of the Hexaware Technologies IPO was Rs 3 as of 10:17 p.m. on Feb. 13, according to InvestorGain. This implied shares of the company will likely list at Rs 711 apiece, indicating a 0.42% premium to the upper end of the price band.
It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.
Sandeep Tandon, founder and CEO of Quant Mutual Fund, shared his perspective on the current market, noting that "most admired stocks" are currently trading in "neglected zones." He remains cautious about the midcap space but is selectively buying within small-caps.
Tandon believes that the market has completed 60% of a risk-off environment, with 40% still remaining. He also emphasized that the shift from small and midcaps to largecaps is a gradual process.
He also said currency markets will give a better cue for equity markets than anything else. "Till the time currency stabilises, FIIs will not turn buyers so easily. Have seen some early signs of exhaustion in FII selling. Will not pre-empt when FII selling will be exhausted."
Rupee Poised For More Losses As RBI Focuses On Monetary Easing
Godrej Industries, Mamaearth, Natco Pharma, Bharat Forge, PNG Shares React Post Q3 Results
The Nifty gained 0.5% to regain the 23,100 level, while the Sensex added 400 points to surge above 76,500.
SBI Cards Upgraded To Neutral By UBS After Noticing Positive Factors
The Nifty and Sensex both rose over 0.3%, The Nifty has regained 23,100 while the Sensex has added over 200 points.
Kotak Mahindra Bank Poised For Strong Growth As RBI Lifts Restrictions, Say Analysts
The yield on the 10-year bond opened flat at 6.71%. It closed at 6.70% on Wednesday.
Source: Bloomberg
Macquarie began coverage on Lemon Tree Hotels Ltd., Chalet Hotels Ltd., and Indian Hotels Co. The brokerage rated the first two hotels 'outperform', while it rated Indian Hotels 'neutral'.
Hospitality and real-estate businesses are in growth mode. Macro and structural tailwinds of increasing business and leisure travel against room-supply shortages will provide pricing power to hotel businesses in India, the brokerage said. It expects the industry to witness 13% growth rate.
Recently announced income tax cuts and the Government of India's push for tourism will further benefit hotel businesses, it said.
Read full report here.
Rupee Opens Stronger Against US Dollar For Third Session
Stocks To Buy Today: Ashok Leyland, BSE, Bharti Airtel, Alkem Laboratories, SRF
Nifty 50 Top Gainers And Losers On Feb. 12: Airtel, HDFC Bank To RIL, M&M
Oil Prices Fall Further As Trump Flags Russia Talks To End Ukraine War
Your Guide To FII Positions For Feb. 13 Trade
Stock Market Highlights: Nifty, Sensex Mark Longest Losing Streak Since Mid-November
Nifty 50 Top Gainers And Losers On Feb. 12: Airtel, HDFC Bank To RIL, M&M