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Market Analysis Today

Market Update Today

Feb 14 2024

Stocks for Intraday Trading

Adani Group Companies 
 
Global rating agency, Moody’s, has revised the outlook for four Adani group companies to `stable` from `negative` while affirming the ratings 
 
🔸 Wipro 
 
The IT major acquired a 60% stake in Aggne Global for $66 million to strengthen consulting capabilities.  
 
🔸 Bharat Electronics 
 
The company received an order worth of Rs 2,167 crore from the Indian Navy for the indigenously designed and developed EW suite. 
 
🔸 Lupin 
 
The company launched Bromfenac Ophthalmic Solution in U.S. which is a generic of BromSite Ophthalmic Solution.  

Stocks in News ( Stocks for day trading)

🔸 Sonata Software 
 
The company announced the integration of Amazon Bedrock, bringing artificial intelligence adoption to the forefront of businesses. Amazon Bedrock is a fully managed service from Amazon Web Services 
 
🔸 Lemontree Hotels 
 
The Company has signed a License Agreement for upcoming hotel in Noida under the company’s brand ‘Lemon Tree Hotel’ 
 
🔸 RailTel Corporation of India Ltd 
 
The Company has received the work order from Prasar Bharati Broadcasting Corporation of India for Design, Development, Implementation, Operations and Maintenance amounting to Rs. 139crores 
 
🔸 Praveg 
 
Company`s operations of Praveg`s Tent City, Ayodhya started with effect from February 14, 2024 


Stocks to watch Today

🔸 UPL  
 
The Company has received an intimation on 13th February 2024, about issuance of certificate of incorporation with regards to new step-down subsidiary viz. Advanta Seeds Tanzania Limited effective 10th February 2024. 
 
🔸 Texmo Pipes 
 
The Board has Considered and approved acquiring of stake of atleast 51% in Shree Venkatesh Industries Private Limited by subscribing to the issue of Equity Share Capital of the Company

Securities in Ban For Trade Date 14-FEB-2024:  
1 ABFRL
2 ASHOKLEY
3 AUROPHARMA
4 BALRAMCHIN
5 BANDHANBNK
6 BIOCON
7 DELTACORP
8 INDIACEM
9 INDUSTOWER
10 NATIONALUM
11 PNB
12 SAIL
13 ZEEL

New Listing Today

Jana Small Fin Bank
Capital Small Fin Bank
Rashi Peripherals

Market Action  – Wednesday, February 14th 2024

Wall Street tumbles as stronger-than-expected US inflation data further dented sentiment around Federal Reserve interest rate cuts.

Gift Nifty slides tracking Wall Street lower indicating a negative start and most importantly, a volatile session for benchmark Nifty.

 GLOBAL UPDATE:-
GIFT Nifty (-203, 21616)
Dow Future (-31, 38241)

Nikkei (-258, 37701)
Hang Seng (-231, 15515)

Dow Jones (-525, 38273)
Nasdaq (-287, 15656)
Bovespa (CLOSED, 128026).

WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:

# The key negative catalyst: *‘The US CPI inflation was up at 3.1% in January, compared to economists` expectations at 2.9%’.

# Overnight, the odds of a May rate cut have sank to 35.2% from 52.2% on Monday. 

# The 2-year US Treasury yield jumped up to 4.592%. The 10-year yield surged to 4.273%, returning to late-November levels. The 30-year yield was up to 4.435%.

# WTI crude oil has spiked past $77.50 per barrel as tensions in the Middle East continued to lend support to oil prices.

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