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All Eyes on US Policy Outlook; Rising of Gold Prices; & Top Stocks in Action Today
Tue, 27 Feb Pre-Open

On Monday, Indian share markets ended the day on a strong note, marking a continuity in its upward trend for March series, but the Nifty ended below 10,600. The Sensex ended up by 304 points, while the Nifty ended up by 92 points.

Tata Motors, Larsen & Toubro, Axis Bank and UPL gained the most on both indices, while Sun Pharma, Infosys, and Tech Mahindra lost the most.

Top Stocks in Focus

Lupin share price will be in focus as it has launched Testosterone Topical Solution, 30 mg per actuation having received an approval from the United States Food and Drug Administration (USFDA) earlier.

Hindustan Zinc share price will be in focus too as it is planning to set-up two new mills in Rajasthan with a joint capacity of 3 million tonnes (MT) of ore-treatment with an investment of Rs 6 billion.

JSW Steel is all set to acquire Italy-based Aferpi Steel firm for Rs 6 billion. The deal is to be finalized probably by the end of March or beginning of April.

Tata Motors, along with its distributor, Sipradi Trading has marked its entry into the growing Compact SUV segment in Nepal with the commercial launch of the new Gen-next lifestyle SUV, the Tata NEXON on 22 February 2018.

Dr. Reddy's Laboratories has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its formulations facility at Srikakulam in the state of Andhra Pradesh.

Sun Pharma share price will be in focus as investors turned wary of observations issued to its Halol plant by the US drug regulator.

Idea Cellular Ltd and Vodafone Group Plc's Indian unit, which are set to merge to create India's largest telecom operator, will invest Rs 600 billion in infrastructure to meet surging demand for data.

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Global Stock Market Drivers

Asian stock markets closed higher on Monday, tracking gains seen on Wall Street as US bond yields receded from recent four-year highs. Meanwhile, the dollar slipped against a basket of currencies.

European shares followed their Asian counterparts higher as benchmark Treasury yields held steady below 3% and the dollar weakened.

Here are some key events scheduled for this week:

  • Powell will testify before a House panel on Tuesday. He'll discuss the Fed's Semi-Annual Monetary Policy Report and the state of the economy. Powell returns on March 1 before a Senate committee.
  • Companies announcing earnings this week include: Vale, BASF, Standard Chartered, Bayer, Lowe's, Galaxy Entertainment Group, Anheuser-Busch InBev, Peugeot, WPP, and London Stock Exchange Group.
  • UK Prime Minister Theresa May will deliver a speech on Britain's relationship with the European Union after Brexit.
  • A barrage of data is expected out of Japan including retail sales and industrial production Wednesday, and capital spending on Thursday.
  • In China, the official and Caixin purchasing managers' indices on Wednesday and Thursday respectively may show growth momentum slowed slightly in February, though the signal may be clouded by the holidays, the reports noted.

IPO Buzz

As per an article in a leading financial daily, Warburg Pincus backed Lemon Tree Hotels will be hitting D-street soon with its Rs 10 to 12 billion initial public offering (IPO).

Reportedly, the issue is largely an offer-for-sale (OFS), which will see a partial exit by long-time shareholders.

Meanwhile, Kalyan Jewellers is looking to file papers for an Initial Public Offering (IPO) next month. The Kerala-based company is considering raising around Rs 25 billion from the issue.

Speaking of IPOs, the demand for IPO's had reached sky-high levels last year.

One shall note that, 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.

A merit-based selection primarily including valuation, business, and management quality is the logical way to go about investing in IPOs. If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often than not.

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From Commodities Space

Oil prices steadied on Monday after hitting their highest level in nearly three weeks, supported by comments from top oil exporter Saudi Arabia that it would continue to curb shipments in line with the OPEC-led effort to cut global supplies.

US West Texas Intermediate crude for April delivery was up 4 cents at US$63.6 a barrel after rising 3% last week.

London Brent crude slipped 3 cents to US$67.3 a barrel, after climbing almost 4% last week. Both benchmarks earlier hit their highest since 7 February.

Gold prices climbed on Monday buoyed by a weaker dollar as US bond yields dipped. Spot gold was up 0.8% at US$1,338.97 an ounce after rising to as high as US$1,340.85, the highest in about a week. Prices last week fell 1.4%, their biggest drop in 2.5 months.

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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Stock Market Updates

PHOENIX MILL at All Time High; BSE REALTY Index Up 3.0% (Today's Market)

Sep 27, 2021 01:55 PM

PHOENIX MILL share price has hit an all time high at Rs 1,031 (up 5.5%). The BSE REALTY Index is up by 3.0%. Among the top gainers in the BSE REALTY Index today are PHOENIX MILL (up 5.5%) and GODREJ PROPERTIES (up 4.5%). The top losers include MAHINDRA LIFESPACE (down 2.0%) and OMAXE (down 2.4%).

Sensex Trades Marginally Higher, Dow Futures Up by 179 Points (Today's Market)

Sep 27, 2021 12:30 pm

BSE Sensex is trading up by 63 points, while the NSE Nifty is up by 10 points.

APOLLO HOSPITALS Share Price Down by 5%; BSE 500 Index Up 0.2% (Today's Market)

Sep 27, 2021 09:59 AM

APOLLO HOSPITALS share price is trading down by 5% and its current market price is Rs 4,769. The BSE 500 is up by 0.2%. The top gainers in the BSE 500 Index are INOX LEISURE (up 9.6%) and GUJARAT NARMADA (up 7.5%). The top losers are APOLLO HOSPITALS (down 5.2%) and DHFL (down 10.0%).

RELIANCE IND. at All Time High; BSE OIL & GAS Index Up 0.9% (Today's Market)

Sep 27, 2021 09:59 AM

RELIANCE IND. share price has hit an all time high at Rs 2,512 (up 0.8%). The BSE OIL & GAS Index is up by 0.9%. Among the top gainers in the BSE OIL & GAS Index today are RELIANCE IND. (up 0.8%) and BPCL (up 1.2%). The top losers include HPCL and PETRONET LNG (down 0.1%).

Sensex, Nifty Open Higher; Automobile and Realty Stocks Lead (Today's Market)

Sep 27, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 276 points, while the Nifty is trading higher by 75 points.

PHOENIX MILL Share Price Up by 5%; BSE REALTY Index Up 1.7% (Today's Market)

Sep 27, 2021 09:29 AM

PHOENIX MILL share price is trading up by 5% and its current market price is Rs 1,031. The BSE REALTY is up by 1.7%. The top gainers in the BSE REALTY Index is PHOENIX MILL (up 5.1%). The top losers are MAHINDRA LIFESPACE (down 0.1%) and OBEROI REALTY (down 1.2%).

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