The Bulls made a remarkable comeback on Friday. On February 25, the market recovered half of the previous day's huge losses and gained 2.5 per cent as buying was seen across the region.
Markets were relieved that Wall Street traded higher during the Ukraine occupation.
The rupee had gained 27 paise to 75.33 against the US dollar in early trade on Friday on falling crude oil prices and a rise in domestic equities.
WTI crude rose more than five percent in early trade on Monday amid the Russia-Ukraine crisis.
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Foreign portfolio investors pulled out Rs 35,506 crore from the Indian market in February for the fifth consecutive month. FPIs have been withdrawing funds from Indian markets since October 2021. February 2022 saw the highest inflow since March 2020, when foreign investors withdrew Rs 1,18,203 crore.
Trends in the SGX Nifty indicating a gap down opening for Indian equities.Nifty futures are trading at around 16,550 on the Singapore Exchange.
Stocks In News;
Fortis Healthcare: Rating agency CRISIL has upgraded its long-term rating from 'A +' to 'AA' by Fortis, a network of private hospitals.
Pharma Stocks: Leading domestic pharmaceutical manufacturers Aurobindo Pharma and Sun Pharmaceutical Industries are recalling various products in the US market due to deviations from standard manufacturing standards.
Rain Industries: The Coal Company had posted a net loss of Rs 72.3 crore for the quarter ended December 2021, compared to Rs 322 crore in the year-ago period.
Mahindra Lifespace Developers: On February 23, Kotak Mahindra Mutual Fund bought an additional 2.19 lakh equity shares through open market transactions. With this, its shareholding in the company rose to 5.13 per cent from 4.98 per cent earlier. Shares rose 3 per cent to Rs 292 on Friday.
Tata Motors: In the last four months, it has become the largest seller of SUVs in the domestic passenger car market. SUV sales rose to 96,883 units in October-January from 37,242 units in the year-ago period.
Bluestone Jewelery, backed by Ratan Tata, plans to raise Rs 1,500 crore through an initial public offering (IPO). The company is likely to dilute 10-12% of the shares through the proposed IPO.
