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Market Analysis Today

Market Analysis Today

Feb 27 2024

Stocks to Buy today

🔸 Lemon Tree Hotels

The company announced the signing of two new properties at  Vijayawada.  

🔸 TVS Motor

The company`s Singapore arm will raise its stake in Germany-based Killwatt GmbH to 49% from 39.28%. The company acquired 8,000 shares of killwatt GmbH at €500 per share.  

🔸 Power Mech Projects

The company received an order worth 396.3 crore from Southeast Central Railway for the execution of civil construction and electrical works.

Stocks for Intraday Trading

🔸 Jindal Steel and Power

The company announced the deployment of 10 electric buses and 27 electric SUVs at its Angul unit in Odisha  

🔸 Hind Rectifiers

The company received the order worth Rs 200 crore from Indian Railways.  

🔸 CMS Infosystems 
 
Promoter Sion Investment is likely to sell up to 26.7% stake in CMS Infosystems through block deals on Tuesday, according to reports.

Stocks In News

🔸 Paytm 
 
Vijay Shekhar Sharma will be stepping down as part-time non-executive chairman and board member at Paytm Payments Bank as part of a board restructuring. 
 
🔸 Sigachi Industries

The company and UAE-based Imass Investment have formed a joint venture, Sigachi Global, to enter the growing UAE food and pharma market

🔸 Indian Oil 
 
State-run Indian Oil has cancelled the tender for setting up the first green hydrogen plant at the company`s Panipat Refinery and Petrochemical Complex in Haryana. 
 
 
Market Action  –  February 27th 2024

Wall Street stumbles in Monday’s trade as bulls fail to find a positive catalyst that could take over the positive baton from last week`s big gains.

On backdrop hurting sentiments were the hawkish tone from the Federal Reserve, with Fed Governor Christopher Waller saying that the Fed should delay rate cuts by at least another couple more months to see if January’s hot inflation report was a fluke.

GLOBAL UPDATE:

GIFT Nifty (+73, 22164)
Dow Future (-4, 39065)

Nikkei (+171, 39407)
Hang Seng (+11, 16645)

Dow Jones (-62, 39063)
Nasdaq (-21, 15976)
Bovespa (+190, 129609).

WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:

# US stocks mostly dropped in overnight trade as the Dow Jones Industrial Average was down 62 points, or 0.2%. The S&P 500 was down 0.4%. The Nasdaq Composite was down 0.1%.

The S&P 500 and Dow pulled back from the record closes they hit on Friday. The Nasdaq pulled back further from its own record, set in November 2021. Small cap stocks were an exception. The Russell 2000 rose 0.7%.

Securities in Ban For Trade Date 27-FEB-2024:  
1 ABFRL
2 BALRAMCHIN
3 CANBK
4 SAIL
5 ZEEL


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