News Shots

SEBI heard us! Markets regulator Securities and Exchanges Board of India (SEBI) has put out a comprehensive framework to deal with technical glitches at market infrastructure institutions (MIIs). As per a statement released by the regulator on February 25, MIIs should submit a detailed root cause analysis to SEBI in a time-bound manner after due vetting by the Technology Committee and Governing Board of the MII.

Mahindra Lifespace Developers has acquired 7.89 acres of land to develop a residential project in Bengaluru. The project will offer about 5 lakh sq ft of carpet area.

Dairy products maker Hatsun Agro has commenced commercial production at its new facility in Maharashtra set up at a cost of Rs 130 crore.

IT services major HCL Technologies said its subsidiary HCL America Inc has approved a proposal for issuing senior unsecured notes of up to USD 500 million.

DHFL has received no objection from the Reserve Bank and has filed an application with NCLT for submission of the resolution plan of Piramal Capital & Housing Finance.

The National Company Law Tribunal (NCLT), which is hearing the resolution plan of the grounded carrier Jet Airways, granted time till March 2 to aviation regulator DGCA to respond on the airline’s slots issue.

Infosys will add 300 local jobs in Pennsylvania as part of its ongoing hiring plans in the US.

State Bank of India and Shapoorji Pallonji Real Estate on Thursday signed a Memorandum of Understanding (MoU) to enable faster processing of home loans, approvals and to provide other benefits.

Bank of Baroda has approved raising of funds not exceeding Rs 4,500 crore through issue of equity shares through qualified institutional placement subject to the approval of the regulatory and statutory authorities.

South Indian Bank has approved issuance of up to 28.30 crore shares of face value of Re. 1 each to HDFC Life Insurance Company, Kotak Mahindra Life Insurance Company, SBI Life Insurance Company and ICICI Lombard General Insurance Company, at a price of Rs 8.48 per equity share aggregating to Rs 239 crore, on a preferential basis.

Sixteen stocks are set to trade in the futures and options (F&O) market from the March series, starting tomorrow. The F&O list is close to about 146 stocks as of now and from tomorrow this number will be 156. Alembic Pharmaceuticals, Alkem Laboratories, AU Small Finance Bank, City Union Bank, Deepak Nitrite, Granules India, Gujarat Gas, IRCTC, L&T Technology Services, L&T Infotech, Mphasis, Navin Fluorine, Nippon Life, Pfizer, PI Industries and Trent are the new entrants.

What to expect today?

Yesterday was absolute consolidation in the market. NIFTY traded comfortably in a range between 15,070 and 15,180. You can read all about yesterday’s movements here.

Bank Nifty was expected to move strongly. It shot up in the morning but then started coming down slowly but still closed above 36,500.

There was a sudden sell off in the US markets due to rising treasury bond yields. Also US GDP data came out lower than forecasted. NASDAQ saw the largest intraday fall in the last 4 months.

All asian markets are down following the fall in the US markets. SGX NIFTY is trading much lower at 14,906, indicating a gap-down opening in the Indian Market. 

Yesterday’s rise in our market was mostly powered by Banks and Fin Services Companies. Reliance also broke out after a very long time.

It was good that NIFTY had reclaimed the psychological level of 15,000. But looking at the global markets, we might also see our markets going down today. Today is the last trading day of February and today’s movements can decide the trend for the coming days.

NIFTY surged up from 14,700 to 15,200 mostly because of the good news that Banks received. Now that the global scenes have changed, it makes sense that NIFTY is back to that level.

Interestingly Foreign institutional investors (FIIs) net bought worth Rs 188 crores, and domestic institutional investors (DIIs) net sold shares worth Rs 746 crore in the Indian equity market. 

Maximum put option contracts strong at 15,000. Maximum call options at 15,200 and 16,500. But given the expected fall today, we will see a major shift in OI today.

We can watch the shift in OI today to have an understanding of the coming week.

NIFTY will be volatile today, with expectations of VIX going up. Understand the trend and trade with caution.

Our GDP data will be announced later today and I hope the data comes out so strong that it will take NIFTY up. Looking forward to it.

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!