• By Goodwill
  • 1,432 Comments
  • February 22, 2024

MARKET OVERVIEW :

Sensex, Nifty fall; Nifty below 22k, Sensex down 420pts.

SpiceJet raises ₹316 crore, bringing the total funds raised to ₹1,060

Foreign institutional investors (FIIs) net bought shares worth ₹284.66 crore, while domestic institutional investors (DIIs) sold ₹411.57 crore worth of stocks on February 21, provisional data from the NSE showed.

Companies reporting December quarter results on February 22 include Jana Small Finance Bank, Lords Chloro Alkali, and DIC India.

 Asian equities and US stock futures rose Thursday in a sign of fresh momentum in global equities after Nvidia Corp. unveiled a better-than-expected revenue forecast.

Japanese shares rallied, supported by a depressed yen, with the Nikkei 225 Index briefly surpassing its 1989 closing record high. Elsewhere, Hong Kong and China mainland benchmarks all rose while Australian stocks erased early losses.

Gains in US contracts during Asian hours were spurred on by Nvidia results. The tech company’s shares soared as much as 11% in post-market trade after it said first-quarter revenue would likely hit $24 billion, above prior estimates of around $22 billion.

Treasuries steadied in Asia after selling off Wednesday pushing the 10-year yield five basis points higher.

Investors will be again focused on China, after further official efforts to support its financial markets. The country has banned major institutional investors from reducing equity holdings at the open and close of each trading day, an order from the securities watchdog to major asset managers and brokerages stated.

The dollar index was down 0.1%, making greenback-priced bullion more affordable to overseas buyers.

The bulk of policymakers at the Fed’s last meeting were concerned about the risks of cutting interest rates too soon, according to minutes of the Jan. 30-31 session.

Sensex Today Live : ‘ETFs in debt have a huge potential for investments’, says fintech entrepreneur Sanjiv Shah, who brought India’s first Nifty 50, gold and CPSE ETF

Sensex Today Live : Fintech entrepreneur Sanjiv Shah brought ETF, or exchange traded fund, investment to India in 2001. He launched the country’s first Nifty 50, gold and CPSE ETFs. Shah left the mutual fund (MF) industry in 2017, but his entrepreneurial fire is lighting others. In an interview with Mint, Shah talked about his recent work, trends in the ETF space and anecdotes from his MF industry days.

India to become 3rd largest economy by 2027, market cap to hit $10 trn by 2030: Jefferies

Sensex Today Live : With a consistent history of 10-12 percent USD CAGR over the last 10 and 20 years, India is now the 5th largest equity market and its market capitalisation will likely touch $10 trillion by 2030, believes global brokerage house Jefferies.

In a recent note, the brokerage said that continued reforms should maintain India’s ‘Fastest growing large economy’ status, adding that strong trends in domestic flows have reduced market volatility and decadal low foreign ownership offers a valuation cushion.

Furthermore, the RoE (Return on Equity)-focused corporate sector with 167 companies with over $5 billion market cap leaves ample choices to investors, noted Jefferies.

PM Kisan Samman Nidhi Yojana: 16th instalment set for release by month-end

Sensex Today Live : The central government is set to disburse 16th installment of the PM Kisan Samman Nidhi Yojana to beneficiaries by the end of February, as per the official announcement on the PM Kisan website.

The website confirms that date for the release of the scheme’s 16th installment is set for February 28.

Beneficiaries under PM Kisan receive an annual cash benefit of ₹6,000, distributed in three installments of ₹2,000 each. The 15th installment was disbursed on November 15 by Prime Minister Narendra Modi. Under that instalment, an amount of ₹18,000 crore reached over 8 crore beneficiary farmers.

SpiceJet raises ₹316 crore, bringing the total funds raised to ₹1,060

Sensex Today Live : On account of market buzz about the rise in the input cost of sugar companies in the future, most of the sugar stocks in India witnessed high selling pressure during morning deals. Sugar major Balramput Chini share price today opened downside at ₹375 apiece on NSE and went on to touch an intraday low of ₹372 within a few minutes of the opening bell, logging nearly 2.50 percent dip on Thursday session.

Shree Renuka Sugars share price opened at ₹50 apiece and went on to touch an intraday low of ₹47.85 per share level, recording around a 3 percent dip against its Wednesday close of ₹49.60

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