{"id":37628,"date":"2024-02-21T08:42:37","date_gmt":"2024-02-21T03:12:37","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=37628"},"modified":"2024-02-21T08:45:33","modified_gmt":"2024-02-21T03:15:33","slug":"gift-nifty-indicates-a-mildly-positive-start-for-the-domestic-indices-us-and-asian-markets-traded-lower","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/gift-nifty-indicates-a-mildly-positive-start-for-the-domestic-indices-us-and-asian-markets-traded-lower\/","title":{"rendered":"Gift Nifty indicates a mildly positive start for the domestic indices; US and Asian markets traded lower"},"content":{"rendered":"\t\t
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PRE-MARKET REPORT<\/strong><\/span><\/p>

The domestic equity indices are expected to open on a cautious note on Wednesday as global market cues remain weak. Further, Gift Nifty was trading slightly above the previous close of 22,232, indicating a mildly positive start for the Indian stock market indices.<\/span><\/p>

Asian markets traded lower on Wednesday tracking overnight losses on Wall Street. Japan\u2019s Nikkei 225 declined 0.39%, while South Korea\u2019s Kospi fell 0.2%. Hong Kong\u2019s Hang Seng index futures indicated a stronger start.<\/span><\/p>

The US stock market ended lower on Tuesday as expectations of early interest rate cuts by the US Federal Reserve faded.<\/span>
The Dow Jones Industrial Average declined 64.19 points, or 0.17% while the S&P 500 dropped 30.06 points, or 0.60%. The Nasdaq Composite ended 144.87 points, or 0.92%, lower.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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STOCK MARKET<\/strong><\/span><\/p>

Wipro:<\/strong> The technology services and consulting company launched Wipro Enterprise Artificial Intelligence (AI)-Ready Platform, a new service that will allow clients to create their enterprise-level, fully integrated, and customized AI environments. The Wipro Enterprise AI-Ready Platform leverages the IBM Watsonx AI and data platform.<\/span><\/p>

Hindalco Industries:<\/strong> Its US subsidiary Novelis filed for an initial public offering (IPO) with the Securities and Exchange Commission. The shares are expected to be offered by Novelis\u2019 sole shareholder, AV Minerals (Netherlands), a wholly-owned subsidiary of Hindalco. No other details about the IPO were available, as the draft registration statement has been filed confidentially.<\/span><\/p>

Whirlpool of India:<\/strong> Promoter Whirlpool Mauritius sold 3,03,89,239 equity shares, which is equivalent to 23.95 percent of paid-up equity via open market transactions, at an average price of Rs 1,277.02 per share, valued at Rs 3,880.8 crore. It held a 75 percent stake in the company as of December 2023. However, Aditya Birla Sunlife Mutual Fund, DSP Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund, and Societe Generale ODI picked 1,30,66,018 equity shares, valued at Rs 1,668.52 crore.<\/span><\/p>

ABB India:<\/strong> The technology leader in electrification and automation, has recorded net profit of Rs 345 crore for the quarter ended December 2023, growing 13 percent over a year-ago period. Revenue from operations grew by 14 percent year-on-year to Rs 2,757 crore for the quarter, with order intake increasing by 35 percent to Rs 3,147 crore during the fourth quarter of CY23. The order backlog as of December 2023 stood at Rs 8,404 crore, an increase of 30 percent YoY. The board recommended a final dividend of Rs. 23.8 per share.<\/span><\/p>

Tourism Finance Corporation of India:<\/strong> Investor Aditya Kumar Halwasiya has bought 1,18,02,094 equity shares (equivalent to 13.05 percent of paid-up equity) via open market transactions at an average price of Rs 209.75 per share. However, foreign investor Varanium India Opportunity exited TFCI by selling the entire 30,97,461 equity shares, and Varanium Capital Advisors offloaded 10,04,400 equity shares. Promoters Pransatree Holdings Pte sold 42,56,100 equity shares, and Koppara Sajeeve Thomas sold 34,44,133 equity shares in TFCI. These shares were sold at an average price of Rs 209.75 per share.<\/span><\/p>

GOCL Corporation:<\/strong> Promoter Hinduja Capital, Mauritius, is going to reduce the shareholding in GOCL by about 1 percent, i.e., from the present 73.83 percent to about 72.83 percent, through a bulk or block deal. This will enable the company to obtain the necessary licenses to take up and expand its business in the defense sector. Hinduja Capital’s shareholding in GOCL Corporation is considered a foreign direct investment.<\/span><\/p>

Union Bank of India:<\/strong> The Committee of Directors for Raising Capital Funds has approved the raising of funds up to Rs 3,000 crore through qualified institution placement (QIP) issues. The QIP issue opened on February 20, with a floor price of Rs 142.78 per equity share.<\/span><\/p>

Zee Entertainment Enterprises:<\/strong> Zee clarified in a media report that the company is reviving Sony merger talks. Zee said it has not been involved in any negotiations. It categorically confirmed that the report resuming Sony merger talks is factually incorrect.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tOpen Free Demat Account<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"PRE-MARKET REPORT The domestic equity indices are expected to open on a cautious note on Wednesday as global…","protected":false},"author":5,"featured_media":37565,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"footnotes":""},"categories":[42],"tags":[46,48,693,47,23],"class_list":{"0":"post-37628","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-morninger","8":"tag-market-news","9":"tag-nifty-today","10":"tag-pre-market","11":"tag-sensex-today","12":"tag-stock-market","13":"cs-entry","14":"cs-video-wrap"},"yoast_head":"\nGift Nifty indicates a mildly positive start for the domestic indices; 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