Sensex rebounds 200 pts, Nifty above 10,200 in opening: Bhushan Steel up 19%;
Indian Indices:
SGX Nifty indicates a positive opening for the Indian markets. Indian markets are expected to trade marginally higher in line with Asian peers, as geopolitical tension reseeds on account of tariff wars. In stock-specific news, Tata Steel bags Bhushan Steel for Rs35,000cr making it the largest steel producer in India. Asian markets steadied in the morning trade as worries surrounding trade war eased. The US President Donald Trump’s import tariff plan may spare select countries from much of the impact, reports Bloomberg. Overnight US markets closed mixed. S&P 500 at 2,726 is down 0.05%.
Benchmark indices opened sharply higher, tracking positive Asian cues. All beaten down stocks saw buying interest. The 30-share BSE Sensex was up 238.55 points at 33,271.64 and the 50-share NSE Nifty gained 71.60 points at 10,225.80 while the Nifty Midcap index gained 1 percent.
Global Market:
Asian markets are trading in the green at present. Nikkei is currently up 0.78 %, Hang Seng is trading 1.09% higher, while Shanghai Composite is trading flat down 0.12%.
US Markets: Stocks witnessed strong recover closing well above the low point of the day. The Dow ended 0.3% lower at 24,801.36, S&P 500 edged down 0.1% to 2,726.80 while the tech-heavy Nasdaq managed to end the session in the green up 0.3% at 7396.
European markets closed in the green yesterday with the FTSE closing 0.15% higher, CAC ended 0.34% higher while DAX inched 1.07% higher.
Major Headlines of the day:
NCLT halts Reliance Infratel’s asset sale The Mumbai bench of the National Company Law Tribunal (NCLT) directed Reliance Infratel Ltd, a subsidiary of Reliance Communications Ltd (RCom), to stay the sale of its assets until 13 March-
Tata Steel emerges top bidder for Bhushan Steel - Tata Steel Ltd has emerged as the highest bidder to buy a controlling stake in Bhushan Steel Ltd, which is currently undergoing bankruptcy proceedings.
Oberoi Realty eyes Rs1,000 crore rental revenue - Oberoi Realty Ltd expects to generate rental revenue of around Rs1,000 crore in the next three years from its existing and upcoming commercial portfolio, reports Mint. The company plans to list these assets on a Real Estate Investment Trust as well.
Trend in FII flows: The FIIs were Net Value of Rs -719.78 the cash segment Wednesday while the DIIs were Net Value of Rs 409.34 as per the provisional figures.
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