-
ALSO READ
Indices end nearly 1% higher, Nifty at 10,583; realty, auto stocks surge Nifty ends below 10,500, Sensex down nearly 300 pts; PSU bank index dips 2% Sensex ends 141 pts higher, Nifty settles at 10,397 levels; IT stocks rise Sensex rises 323 pts, Nifty closes at 10,491; Metal, Pharma stocks rally Indices end slightly lower ahead of GDP data; PSU banks, realty stocks fall -
Markets at pre-open Index Current Pt. Change % Change S&P BSE SENSEX 34,238.05 -108.34 -0.32 S&P BSE SENSEX 50 11,017.70 -30.36 -0.27 S&P BSE SENSEX Next 50 34,001.57 -244.84 -0.71 S&P BSE 100 10,919.15 -37.65 -0.34 S&P BSE Bharat 22 Index 3,611.54 -23.26 -0.64 (Source: BSE) STOCKS IN NEWS HDFC QIP floor price set at Rs 1,824.63 apiece. Panel will consider QIP issue price on March 5. Cipla partnered with Roche Pharma India to create greater access to key medicines. DLF’s subsidiary emerged as the highest bidder for 11.76-acre Gurugram land at Rs 1,500 crore. Kridhan Infra acquired 31.5% stake in Vijay Nirman. Sadbhav Infrastructure Projects declared lowest bidder for Rs 1,047 crore NHAI order. Larsen & Toubro to sell up to 2% stake, in L&T Infotech to achieve the minimum public shareholding. Bharat Forge completes divestment of its shareholding in Alstom Bharat Forge Power to GE. ABC India receives order of Rs 142cr from BHEL for Multimodal Transportation of Export Project Cargo. Atlas Cycles manufacturing activity at Sonepat unit has been temporarily suspended may be closed after re-assessing the situation Reliance Industries may shut down KG basin’s MA Field by Oct on falling output. BPCL In talks to sell stake in Bina refinery. National oil firms of Oman, Kuwait, Abu Dhabi may buy upto 24% stake. A consortium of Dalmia Bharat and Bain Piramal Resurgence Fund emerged the top bidder for Binani Cement, trumping UltraTech Cement, with a Rs 6,700-crore offer that will see banks getting all their money back, challenging the assertion that bankers will face losses in every bankruptcy resolution case. Singaporean sovereign wealth fund GIC has agreed to invest around Rs 2,600 crore in real estate firm Prestige Estates' subsidiary Exora Business Park for a consideration of up to 40% stake. (Source: Nirmal Bang report) News Watch Nirav Modi's Firestar Diamond files for bankruptcy as PNB fraud hits $2 bn The international jewelry business that's part of the empire controlled by Nirav Modi, a billionaire accused of masterminding India’s biggest bank fraud, has filed for bankruptcy in the US just as the Indian lender at the heart of the scam revised up its fraud estimate. READ MORE Trading volumes on SGX in sync with FII flows into the domestic market The measures taken by domestic bourses to put an end to offshore trading of domestic securities could dent foreign institutional investor (FII) flows into Indian capital markets. Historical data suggests a positive correlation between FII inflows in India and the volume of Nifty contracts traded on the Singapore Stock Exchange (SGX). High portfolio flows into Indian markets have been accompanied by an increase in trading volumes in Nifty contracts at the SGX. READ MORE Today's picks: From Tata Motors to Vedanta, hot stocks to watch on Tuesday Tata Motors Current price: Rs 373 Target price: Rs 367 Keep a stop at Rs 377 and go short Add to the position between Rs 368 and Rs 369 Book profits at Rs 367 CLICK HERE FOR MORE Hold Nifty longs for target of 10,700-10,750: HDFC Securities Nifty Outlook: Yesterday, Nifty failed to surpass the previous top resistance of 10638, to close at 10554. Yesterday’s fall from the higher levels seems like a regular profit booking, which does not violate the probability of extending the pullback in the Nifty towards the next target of 10700-10750. Last week, Nifty formed bullish candlestick pattern known as “Dragonfly Doji” on the weekly charts. This pattern signals indecision among traders. It's formed when the security's high, open, and close prices are the same. The long lower shadow suggests that the forces of supply and demand are nearing a balance and that the direction of the trend may be nearing a major turning point. There is strong support at 10500 levels, around which Nifty should be bought into, with the stop loss of 10450. READ MORE
The benchmark indices are likely to open in red on Wednesday taking cues from key Asian markets.
The market participants will be looking forward to key economic data such as Nikkei Markit Manufacturing Purchasing Managers Index (PMI), Fiscal Deficit and Gross Domestic Product (GDP) to be released later in the day.
In the global markets, Asian shares faltered on Wednesday and bonds were sold off as risk appetite soured after comments from new Federal Reserve Chair revived fears about faster rate rises in the US.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent, on track for a second straight day of losses.
Japan's Nikkei eased 0.2 per cent while South Korea's KOSPI index ticked higher. Australian shares slipped 0.4 per cent.
New Federal Reserve Chair Jerome Powell noted in his semi-annual testimony on Tuesday that the US economy was strong, inflation was ticking higher and that the global backdrop was better than in December.
On Wall Street, the markets turned south on Tuesday with the Dow, the S&P 500 and the Nasdaq falling more than 1 per cent each.
(with Reuters inputs)
AUTO REFRESH ON 
RECOMMENDED FOR YOU