Stock Market News: GIFT Nifty Indicates Towards a Positive Start For Indian Indices

The Indian stock market snapped its 2-day losing streak on February 27, 2024. At close, Sensex was up 305 points at 73,095.22 while Nifty added 76 points and was trading at 22,198.35.

Around 991 stocks advanced and 1,561 declined while 106 stocks remained unchanged.

Among sectors, Auto, Capital Goods, Information Technology, Pharma, and Realty were up 0.5-1 percent each, while the Oil & Gas index shed 1 percent.

GIFT Nifty

GIFT Nifty indicates a positive start for Indian indices.

US Markets

US stocks closed near flat on Tuesday ahead of inflation and other economic data that could shed light on the possible timing of a Federal Reserve interest rate cut, according to a Reuters report.

The Dow Jones Industrial Average fell 96.82 points, or 0.25%, to 38,972.41. The S&P 500 gained 8.65 points, or 0.17%, at 5,078.18. The Nasdaq Composite rose 59.05 points, or 0.37%, to 16,035.30.

Asian Markets

Asia-Pacific stock markets opened flat Wednesday as investors awaited key US inflation and China data later this week, while the interest rate decision from New Zealand was also on tap.

Australia’s S&P/ASX 200 fell about 0.2%. Japan’s Nikkei 225 as well as the broader Topix opened flat. South Korea’s Kospi rose 0.1%, while the smaller-cap Kosdaq added 1.3%, according to a CNBC.com report.

Also read: Owais Metal IPO: Top Things to Know Before Subscribing to The Issue

Stocks in the news

• Tata Elxsi: The company and Telefónica implemented cloud-native infrastructure management powered by ETSI Open-Source MANO (ETSI OSM). These advancements mark a new phase in the evolution of telco cloud technologies and signify a commitment to driving digital transformation across the telecommunications industry.
• Torrent Power: The firm has emerged as the successful bidder and has received a letter of intent from PFC Consulting for the establishment of an inter-state transmission scheme “transmission system for the evacuation of power from renewable power projects in Solapur (1,500 MW) SEZ in Maharashtra.
• SJVN: The company’s subsidiary SJVN Green Energy (SGEL) has commissioned a 100 MW Raghanesda solar power project in Banaskantha, Gujarat.
• Vodafone Idea: The telecom firm has approved a fundraising of up to Rs 20,000 crore via equity.
• GE T&D India: The firm has secured orders worth Rs 370 crore from the Power Grid Corporation of India for the supply of 765 kV shunt reactors for various transmission system projects in India.
• Salasar Techno Engineering: The company has entered into an agreement with ZETWERK Businesses for the supply of 25,000 MT of solar structures worth Rs 200 crore.
• Larsen & Toubro: L&T Infrastructure Development Projects (L&T IDPL), a subsidiary of Larsen & Toubro, has completed the sale of its entire stake in Interise Investment Managers (IIML), a wholly owned subsidiary of L&T IDPL.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,509.16 crore. Domestic institutional investors (DIIs) bought Rs 2,861.56 crore worth of stocks on February 27, provisional data from the NSE showed.

Bulk Deals

• Senco Gold Limited: Saif Partners India Iv Limited sold 6,00,000 shares at Rs 875.08
• Sapphire Foods India Ltd: Wtcnam Common Trust Funds Trust Emerging Markets Opportunities Portfolio sold 3,25,298 shares at Rs 1497.08

Stocks under F&O ban on NSE

The NSE has added Indus Towers to the F&O ban list for February 28.

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