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What changed for the market while you were sleeping? Top 10 things to know

© Rakesh Patil What changed for the market while you were sleeping? Top 10 things to know

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 78 points gain.

Sensex was down 1,145 points, or 2.25 percent at 49,744.32 on February 22 while Nifty ended 306 points, or 2.04 percent lower at 14,675.70. According to pivot charts, the key support levels for the Nifty are placed at 14,537.1, followed by 14,398.5. If the index moves up, the key resistance levels to watch out for are 14,912.2 and 15,148.7.

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

US Markets

The S&P500 and Nasdaq closed lower on Monday as climbing Treasury yields and prospects of rising inflation triggered valuation concerns, hitting shares of high-flying growth companies.

The Dow Jones Industrial Average ended 27.37 points higher, or 0.09%, to 31,521.69, the S&P 500 lost 30.21 points, or 0.77%, to 3,876.5 and the Nasdaq Composite dropped 341.42 points, or 2.46%, to 13,533.05.

Asian Markets

Asian stocks dipped on Tuesday as rising US Treasury yields and inflation prospects led to a further rotation out of the big tech stocks responsible for a major Wall Street rally during the pandemic.

The Australian S&P/ASX 200 fell 0.11% and South Korea’s Kospi declined 0.87% in early trading. Hong Kong’s Hang Seng index futures rose 0.54%. Japanese markets are closed for a public holiday on Tuesday.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 78 points gain. The Nifty futures were trading at 14,753 on the Singaporean Exchange around 07:30 hours IST.

Oil prices rise further

Oil prices rose again on Tuesday after a jump in the previous session, holding near a more than 13-month high as U.S. output was slow to return after a deep freeze in Texas shut in crude production last week.

Brent crude futures were up 28 cents, or 0.4%, at $65.52 a barrel by 0102 GMT, while U.S. crude oil rose 14 cents, or 0.2%, to $61.84 a barrel. Both benchmarks rose nearly 4% in the previous session.

SAT stays Sebi’s order against HDFC Bank in BRH Wealth Kreators case

The Securities Appellate Tribunal (SAT) has stayed a Sebi order which imposed a fine of Rs 1 crore on HDFC Bank for invoking securities pledged by stock broker BRH Wealth Kreators, till further orders. Sebi had imposed the fine and also directed the bank on January 21 to transfer Rs 158.68 crore along with 7 per cent interest per annum into an escrow account till the issue of settlement of clients’ securities is reconciled.

“The fact that the circulars have been violated or not and whether the securities have been rightly invoked by the appellant requires consideration,” the tribunal said in an order dated February 19 while giving three weeks time to Sebi to file a reply.

Four brokers of ICEX under SEBI scanner for payment irregularities

The Securities and Exchange Board of India (SEBI) will launch a special audit of four brokers over alleged irregularities conducted in commodity derivatives contracts. The market regulator has ordered a special audit of these so-called market makers of the Indian Commodity Exchange (ICEX) Ltd, two persons aware of the matter told Moneycontrol.

The four broking firms have been identified as Gogia Capital Services limited, MSB e-trade Securities, Mauzampuria Securities Broking and Findoc Commodities.

Reliance announces O2C biz spin-off into 100% subsidiary

Reliance Industries (RIL) on February 23 said it has initiated the process of carving out its O2C business into an independent subsidiary. RIL said the management control of the 100 percent subsidiary will remain with itself.

P-notes investment slips to Rs 84,976 crore at January-end

Investment through participatory notes (P-notes) in the Indian capital market dipped marginally to Rs 84,976 crore as on January 31 after hitting 31-month high value at the end of the preceding month. At December-end, the investment through such instruments had risen to a 31-month high of Rs 87,132 crore, reflecting the bullish stance of FPIs, as per market experts.

Heranba Industries raises Rs 187.5 crore from anchor investors ahead of IPO

Crop protection chemical manufacturer Heranba Industries on February 22 garnered Rs 187.50 crore from 18 anchor investors ahead of its intial public offering (IPO). The company in consultation with merchant bankers finalised allocation of 29,90,520 equity shares to anchor investors at Rs 627 per share, the higher end of price band.

The marquee anchor investors included Government Pension Fund Global, Jupiter India, Cohesion MK Best Ideas Sub-Trust, Dovetail India Fund, Societe Generale and Morgan Stanley.

U.S. House budget panel approves $1.9 trillion COVID-19 aid bill

The U.S. House of Representatives Budget Committee on Monday approved legislation with $1.9 trillion in new coronavirus relief, advancing a top priority of President Joe Biden toward a full House vote on passage expected later this week.

The measure passed the panel on a largely party-line vote of 19-16, as the U.S. death toll from the coronavirus pandemic surpassed the grim benchmark of 500,000 victims. Millions more have been left jobless by the pandemic.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 893.25 crore, whereas domestic institutional investors (DIIs) also sold shares worth Rs 919.88 crore in the Indian equity market on February 22, as per provisional data available on the NSE.

4 stocks under F&O ban on NSE

BHEL, Canara Bank, Vodafone Idea and SAIL are under the F&O ban for February 23. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

With inputs from Reuters & other agencies

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