Volatility to the core! Where is Nifty headed to?

Good Morning Everyone, What a volatile day just ahead of the weekly expiry today. Nifty went on a powerful uprise but could not sustain the levels and went to negative territory in the last 1 hour, as tension in Russia - Ukraine grows higher. This will continue for a few days until things are clear on the global front.


However the good this is that Nifty still holds well above 17000, which if continued, can be a better sign. Any breach below 16800 can prove a weakness in the market.


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Global Markets:

The US stock markets made up early losses to close flat on Wednesday after minutes from the Federal Reserve's latest meeting showed policymakers still leaning toward moving decisively to fight inflation. The S&P 500 rose 3.94 points, or 0.1 percent, to 4,475.01 while The Nasdaq fell 15.66 points, or 0.1 percent, to 14,124.09.


Shares slipped in Japan, jumped in South Korea, and fluctuated in Hong Kong, where reports suggest authorities are preparing mass testing to fight Covid.


Oil prices rose more than 1% on Wednesday as investors weighed conflicting statements on the possible withdrawal of some Russian troops from around Ukraine.


Gold prices slipped on Wednesday in the international markets pulling further away from an eight-month peak scaled in the previous session, as signs of a slight de-escalation in the Russia-Ukraine standoff diminished the safe-haven appeal. At the MCX, gold contracts traded marginally lower by 0.04 percent at Rs 49,367 for 10 gms.


The rupee appreciated by 25 paise to close at 75.07 (provisional) against the US dollar on Wednesday, amid signs of de-escalation in the conflict between Russia and Ukraine.


Russia on Wednesday said military drills in Moscow-annexed Crimea had ended and that soldiers were returning to their garrisons, a day after it announced a first troop pullback from Ukraine's borders. However, Western leaders remain concerned that Russia could still launch an attack on Ukraine.


Indian Market:

Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 46 points.

The Reserve Bank of India (RBI) turned net seller of the US currency in December 2021 after it sold $2.917 billion on a net basis in the spot market. In the reporting month, the RBI bought $7.475 billion and sold $10.392 billion in the spot market, the RBI Bulletin for February 2022 released on Wednesday showed.


In November 2021, the RBI had purchased $8.489 billion from the spot market and sold a similar amount in the market. In December 2020, the central bank had net purchased $3.991 billion of the US currency from the spot market.


FII and DII data:

Foreign institutional investors (FIIs) have made net selling of Rs 1,890.96 crore worth of shares, whereas domestic institutional investors (DIIs) have net bought Rs 1,180.14 crore worth of shares in the Indian equity market on February 16


Results Today:

Ambuja Cements and Nestle India will detail their quarterly earnings on Thursday.


Stock Specific News:

Vedant Fashions IPO | Shares made a strong debut in the secondary market on Wednesday. The stock of Kolkata-based Vedant Fashions - which owns brands Manyavar and Mohey - opened at Rs 935 on NSE, a premium of eight percent over the issue price of Rs 866. On BSE, the stock began its journey at Rs 936.


Kalpataru Power Transmission | The company on Feb 19 will consider the proposal for reorganisation.


Tata Consultancy Services | The company announced a partnership with MATRIXX Software to offer a comprehensive next-gen subscription management platform for communication service providers.


Tata Motors | Jaguar Land Rover, UK has announced a partnership with NVIDIA.


Jubilant Ingrevia | The company has commissioned a new facility for Diketenes and Derivatives.


Wipro | The company bagged a five-year contract to drive transformation for ABB's information systems digital workplace services. The agreement, worth over $150 million, will help ABB's information systems deliver enhanced, consumer-grade digital experiences.


Hindustan Aeronautics | HAL has reached a settlement with RUAG Aerospace over an arbitration.


Best Agrolife | Subsidiary Best Crop Science has received a licence for indigenous manufacturing of spiromesifen (used to control mites and fly in crops) technical, from the Central Insecticides Board and Registration Committee.


Southern Petrochemicals | Consolidated profit of the company in Q3FY22 grew significantly by 832 percent YoY to Rs 59.6 crore compared to Rs 6.4 crore in Q3FY21. Meanwhile, revenue grew by 15 percent to Rs 492 crore from Rs 427 crore during the same period.


Compuage Infocom | The company received approval from the board of directors for fundraising up to Rs 50 crore through a rights issue.


Future Consumer | The company has defaulted on Rs 26.67 crore debt repayment to CDC Emerging Markets.


GHCL | The company will spend Rs 83 crore to install a 20-MW solar power plant.


Vedanta | Moody's has changed the outlook for Vedanta to ‘negative’. With this, the stock ended 1.41 percent lower.


Tilaknagar Industries | The company begins production of French Brand Pernod Ricard at Shrirampur facility in Maharashtra. Shares of Tilaknagar Industries ended 1.04 percent higher.


PNB Housing Finance | Shares of the non-bank lender closed 9.8 percent higher. They were the best performers on Nifty500.


Balkrishna Industries | Shares of the company closed 5.84 percent lower and were the worst hit on Nifty500.








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