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Firm US Markets; Sun Pharma, Software Stocks & Other Top Cues to Sway the Markets Today
Mon, 26 Feb Pre-Open

Indian share markets finished the previous trading session on a strong note amid firm Asian markets after comments from a Federal Reserve official eased worries about faster rate hikes in US.

At the closing bell on Friday, the BSE Sensex closed higher by 323 points and the NSE Nifty finished higher by 108 points. The S&P BSE Mid Cap finished up by 1.5% while S&P BSE Small Cap finished up by 1.3%.

Gains were largely seen in metal stocks, pharma stocks and power stocks.

Top Stocks to Watch Out

Tata Global Beverages share price is expected to be in limelight today after Life Insurance Corporation (LIC) of India has reduced its share holding in Tata Global Beverages Ltd to 3.62% by selling 2.05% stake in open market.

Religare Enterprises plans to raise Rs 9.16 billion by issuing 175,559,960 warrants at an issue price of Rs 52.20. The proceeds will be used to meet long-term funding requirements of the company for growth capital, meet capital expenditure, to make investments as well as for general corporate purposes.

Tech Mahindra share price finished the previous session up by 3% as the company will invest US$79 million in Canada over the next five years to establish a centre of excellence, which will work on major technologies such as artificial intelligence (AI) and blockchain application.

Software stocks are expected to be in action today after the Donald Trump administration tightened the norms for issuing US H-1B visa to those working in third-party sites. The major concern with the new rules is that it could force a worker to return home after the end of each project. Nasscom President R Chandrashekhar said the new rule could make it costlier and cumbersome in managing things, leading to gaps in handling different projects by firms.

Siemens share price has been witnessing selling pressure after the company said it plans to sell its mobility division (which houses businesses linked to transport) along with the rail traction drives business and the mechanical drives business to its parent, Siemens AG or a wholly-owned subsidiary. The mobility division accounts for 10.46% of the turnover and 2.82% of the capital employed of the company for the year ended September 30, 2017.

Idea Cellular share price is expected to see some momentum today as the company has successfully closed a Qualified Institutions Placement (QIP) to raise Rs 35 billion.

Sun Pharma share price is expected to be in action today after the company said the US health regulator has issued three observations after inspecting its Halol facility in Gujarat.

Meanwhile, Biocon will reportedly start an R&D lab of its subsidiary Syngene in Genome Valley, Hyderabad, along with an expansion of its existing API/Intermediates facility.

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IPO Segment

HG Infra Engineering Ltd will launch its Rs 4.62 billion initial public offering on 26 February. HG Infra has set a price band of Rs 263-270 per share for the IPO. The offer will close on 28 February.

Founded in 2003, HG Infra is an infrastructure construction, development and management company with an extensive focus on road projects, including highways, bridges and flyovers. Its main business operations include providing engineering, procurement and construction (EPC) services and undertaking civil construction projects.

After such stellar response to IPOs in 2017, all focus and attention will shift to the major IPOs in the upcoming new year 2018 which includes IPOs of HDFC Asset Management Company, NSE and IRCTC to name a few.

To know more, you can download our FREE report - How to Get Rich with IPOs. This guide will show you how to safely profit from the 2017 IPO rush.

However, The market euphoria is something similar to what was seen in 2007-08. When everyone around you is clamoring to get a piece of the IPO pie, it makes sitting tight difficult. And, why should you sit tight when stocks like Avenue Supermart lets you pocket a cool 100% gain from day 1 of the listing?

History suggests that these cases are few and far between. More than 70% of the IPOs listed in 2007 and 2008 are in the red, even today when the Sensex is at an all-time high.

This allows us to stay on the fence when it comes to investing in IPOs. But it doesn't make sense to completely ignore this space. For every Reliance Power - like issue, there have been issues like Maruti, TCS, and Jubilant Foodworks Ltd(with returns over 4,000%, 1,000% and 500% respectively) that have created immense wealth for shareholders. A merit-based selection primarily including valuation, business, and management quality is the logical way to go about it.

Bitcoin Crosses US$10,000

Bitcoin prices and cryptocurrency markets have improved marginally in Friday's session crossing the US$ 10K mark. Earlier this morning, it had dropped to a low of US$9,676.90.

Among the top 10 most valuable cryptocurrencies, Litecoin and Bitcoin Cash - both of which had sustained the biggest losses yesterday - recovered partially. Litecoin was up by 6.15% while Bitcoin Cash increased by 6.42% in its price

US Markets In Green

U.S. stocks jolted higher in the final hour of trading on Friday, erasing weekly losses as persistent distress about rising bond yields and the re-emergence of long-dormant inflation receded on Wall Street.

Federal Reserve policymakers still backed gradual interest rate hikes in 2018 at their Jan. 30-31 meeting. But they see stronger growth prospects in 2018 than they did in December, in part due to the Trump tax cuts. Fed officials see inflation rising to 2% over time.

Oil Prices Rise

Following a surprise report from the EIA, oil prices rose across the board, suggesting that bullish sentiment may be returning to the markets as crude prices hovered at two-week highs. It marked the fifth-straight weekly increase.

To keep a tab on the movements in crude oil and other commodities, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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