Stock Market: On February 23, the benchmark Sensex and Nifty indexes are probably going to open higher because the GIFT Nifty’s trends predict to a 39-point increase for the overall index.
The benchmark indices erased all of the previous session’s losses during the extremely volatile session, with buying across all sectors driving the Nifty to a new all-time high of 22,252.50.
The Nifty was up 162.50 points, or 0.74 percent, at 22,217.50, and the Sensex was up 535.15 points, or 0.74 percent, at 73,158.24 at the close on February 22. The Nifty is expected to find immediate support at 21,971, followed by 21,882 and 21,738 levels, according to the pivot point calculator. On the other hand, it may encounter immediate resistance at 22,252, followed by 22,348 and 22,492 levels.
The day after artificial intelligence poster child Nvidia’s stellar profits and forecast, investors flocked to growth and technology stocks, propelling the S&P 500 and Dow Jones Industrial Average to new closing highs on Thursday.
Both the Dow Jones Industrials, which closed at 39,069.11 after climbing 456.87 points, or 1.18 percent, and the S&P 500 ended at a record high, jumping 105.23 points, or 2.11 percent, to 5,087.03. For the first time ever, the Dow closed above 39,000 points.
The Nasdaq Composite reached 16,041.62 after gaining 460.75 points, or 2.96 percent.
The RBI MPC meeting in February focused mostly on inflation, according to the minutes.
The monetary policy committee (MPC) of the Reserve Bank of India (RBI) remained cautious about inflation readings because of the volatility of food prices, as per the minutes of the MPC meeting that were made public on February 22.
“The forecast for headline inflation is still highly volatile due to uncertainty surrounding food prices. In the minutes of the February round of monetary policy review, RBI Governor Shaktikanta Das stated, “Further risks to the inflation outlook are growing geopolitical tensions and supply chain disruptions due to new flashpoints.”
RBI Deputy Governor Michael Debabrata Patra stated, “Monetary policy must remain restrictive and maintain downward pressure on inflation while minimizing the output costs of disinflation.”
Recurrent food price shocks, according to RBI Governor Das during the February monetary policy review, carry a risk of disrupting the current deflationary trend and de-anchoring inflation expectations as well as broadening price pressures.
Angel One plans to use preferential issue, QIP, and other channels to fund up to Rs 2,000 crore.
According to the firm on February 22, Angel One plans to fund up to Rs 2000 crore through preferential issuance, QIP, or other means.
According to the company in a stock exchange filing, the goal of this fund raise is to increase and create financial flexibility to grow the business and take advantage of various emerging opportunities within the current and growing broking business as well as across the inorganic universe within the fintech space.
“The business intends to raise up to Rs 2,000 crore in equity funds, which will not only enable it to retain fiscal prudence in its endeavor to establish Angel One as a premier fintech platform, but also expand its ability to invest beyond the available resources.,” stated the business.
India ratings see 6.5% GDP growth in FY25 and “bullish” indicators for private capital expenditure
India Ratings and Research projects that in 2024–2025, the country’s GDP would expand by 6.5 percent. The statistics ministry’s initial advance estimate of 7.3 percent for the current fiscal year would indicate a fall from this, although the likelihood of the private investment cycle is encouraging for the economy.
Voda Idea to talk about funding on February 27th: mulls rights issue, QIP, FPO, and other ways
The telecom business owned by the Aditya Birla Group, Vodafone Idea, announced in an exchange notification that it will discuss financing during a board meeting on February 27.
Examine and assess all offers for raising money in one or more tranches through a rights issue, additional public offering, private placement with preference allocation, placement with qualified institutions, or any other acceptable method, alone or in combination, as may be deemed suitable, the business said. This covers plans to issue convertible debentures, warrants, equity shares or securities convertible into equity shares, warrants, and/or non-convertible debentures, including non-convertible debentures combined with warrants, which might or might not be listed.
NSE stocks prohibited from F&O
The NSE has retained Ashok Leyland, Balrampur Chini Mills, Bandhan Bank, Biocon, GMR Airports Infrastructure, GNFC, Hindustan Copper, Indus Towers, National Aluminium Company, Piramal Enterprises, PVR INOX, RBL Bank, and Zee Entertainment Enterprises on the F&O ban list for February 23. Aditya Birla Fashion & Retail and SAIL have been added to the list. India Cements and Canara Bank were taken off the aforementioned list.
Data from FII and DII
On February 22, provisional data from the NSE revealed that domestic institutional investors (DIIs) purchased equities worth Rs 1,823.68 crore, while foreign institutional investors (FIIs) net sold shares worth Rs 1,410.05 crore.
