Asian markets extended the rally in global equities as investors shrugged off concerns about the impact of higher bond yields.
Dow Futures are trading at negative with 100 points.
The S&P 500 surged on Monday in its strongest one-day gain since June as bond markets calmed after a month-long selloff, while another COVID-19 vaccine getting U.S. approval and fiscal stimulus bolstered expectations of a swift economic recovery. US factory activity scales 3-year high.
The Dow Jones Industrial Average surged 1.95% to end at 31,535.51 points, while the S&P 500 gained 2.38% to 3,901.82. The Nasdaq Composite jumped 3.01% to 13,588.83.
Oil down more than 1% on Chinese fuel demand doubts, OPEC supply concerns.
🎯 News & Impact 🎯
🎯 BPCL :
To sell its 61.65% stake in Numaligarh Refinery to a consortium of Oil India and Engineers India and to the Government of Assam for Rs 9,875.96 crore.
🎯 UPL :
The company has announced a long-term strategic collaboration with FMC Corporation. The agreement will provide UPL access in key markets prior to patent expiration and to commercialise Rynaxypyr active, FMC's leading insecticide. As per the agreement, UPL will toll manufacture and supply Rynaxypyr to FMC in India, and FMC will supply the active ingredient to UPL depending on the market scenario.
🎯 Central Depository Services (India) :
National Stock Exchange of India, The Multi Commodity Exchange of India, India INX International Exchange, National Securities Depository Limited and Central Depository Services (India) Limited have signed a Memorandum of Understanding for setting up Market Infrastructure Institutions comprising of International Bullion Exchange, Clearing Corporation and Depository at Gujarat International Finance Tec-City Trade (GIFT) City.
Positive for the stock. 👍
🎯 IRCTC :
The Madras High Court has directed the company to terminate all existing contracts of mobile catering involving scope of work of providing cooked food to passengers prepared from base kitchens as per the existing terms and conditions.
Negative for the stock.
🎯 Power Grid Corporation Of India : The Board of Directors have approved the payment of interim dividend of Rs 4 per equity share of Rs 10 each for the Financial Year 2020-21.
Positive for the stock. 👍
🎯 Petronet LNG :
The company has incorporated a wholly-owned subsidiary, Petronet Energy Limited, for undertaking GUCD operations, LNG Bunkering and other allied services.
🎯 PVR : Opens three new screens in Kanpur.
🎯 Sutlej Textiles & Industries :
The company has commenced commercial production of Greenfield Green Fibre Project to manufacture Polyester Staple Fibre by recycling pet bottles.
🎯 JSW Energy :
Promoter Siddeshwari Tradex created a pledge of 96.25 lakh shares on February 24.
Negative for the stock.
🎯 Adani Ports & SEZ :
Promoters Gautam Adani and Rajesh Adani revoked pledge of 35 lakh shares on February 26.
Positive for the stock. 👍
🎯 Adani Transmission :
Promoters Gautam Adani and Rajesh Adani revoked pledge of 42.67 lakh shares on February 26.
Positive for the stock. 👍
🎯 Jindal Steel & Power : Promoters Siddeshwari Tradex and OPJ Trading created a pledge of 58 lakh shares between February 23-24.
Negative for the stock.
🎯 Max Financial Services : Promoter Max Ventures Investment Holdings revoked pledge of 1.20 lakh shares on February 26.
Positive for the stock. 👍
🎯 Asian Paints :
Promoter Hiren Gandhi created a pledge of 1.10 lakh shares on February 23.
Negative for the stock.
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