Global Market Cues

The global sentiment remains largely positive despite renewed trade policy uncertainty. U.S. markets ended Friday on a high note after the Supreme Court struck down a previous tariff framework, though President Donald Trump subsequently announced a new 15% global tariff rate. The S&P 500 gained 0.7%, while the Nasdaq Composite surged 0.9%, buoyed by a recovery in technology stocks.

In Asia this morning, the trend is predominantly bullish. South Korea’s Kospi jumped 1.7% to hit a fresh record high, led by defense and tech heavyweights. Meanwhile, Japanese markets are closed today for a national holiday, which may lead to thinner trading volumes across the region. Commodities remain in focus as silver surged 4% and gold held steady, while Brent crude paused its recent rally to trade near $72 per barrel.

GIFT Nifty and Domestic Cues

GIFT Nifty is currently trading at approximately 25,748, suggesting a gap-up opening of nearly 160 points for the Nifty 50. Domestic indices ended Friday with modest gains, with the Nifty closing at 25,571 and the Sensex at 82,814.

• F&O Expiry: Traders are bracing for high volatility as Monday is the penultimate day before the monthly F&O expiry scheduled for Tuesday, February 24.
• Institutional Flows: Market participants will closely monitor FII (Foreign Institutional Investor) activity, which has been mixed recently, while DIIs (Domestic Institutional Investors) continue to provide a structural floor.
• Technical Levels: Nifty faces immediate resistance at the 25,850–25,900 zone, while 25,400 remains a crucial support level on the downside.

Key Stocks in Focus

• IDFC First Bank: The bank has appointed KPMG for a forensic audit following suspected irregularities in Chandigarh branch accounts. This follows a move by the Haryana government to de-empanel the lender.
• NTPC / NTPC Green: Its subsidiary has successfully commissioned 158.4 MW of solar capacity in Andhra Pradesh, marking a significant step in its renewable energy expansion.
• Adani Ports: The company signed a strategic MoU with NMDC and Vale SA to develop an integrated iron ore blending facility.
• Cipla: Shares may see pressure after reports that one of its manufacturing facilities received an "Official Action Indicated" (OAI) status from the USFDA.
• Yes Bank: Management has expressed confidence in reaching a 1% Return on Assets (RoA) by the end of the current fiscal year.
• Clean Max Enviro: The company’s IPO opens for subscription today, which may draw interest toward the broader green energy sector.

Key Events to Watch Today

• Quarterly Results: A few mid-cap companies, including BF Utilities and PVP Ventures, are slated to report their earnings today.
• Corporate Actions: PI Industries will trade ex-dividend today.
• Macro Outlook: Investors are looking ahead to India’s Q3 GDP data release scheduled for later this week, which will provide clarity on the domestic growth trajectory amid global headwinds.
• Global Politics: The market will begin pricing in expectations for the U.S. State of the Union address scheduled for Tuesday.

TAGS: Pre-Market, Stock Market, Nifty, Sensex, Market Update

Tags: Pre-Market Stock Market Nifty Sensex Market Update