| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 82,500.82 | 328.72 | +0.40% |
| Nifty 50 | 25,285.35 | 103.55 | +0.41% |
| Nifty Bank | 56,609.75 | 417.70 | +0.74% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Cipla | 1,561.80 | 48.70 | +3.22% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Tata Steel | 173.86 | -2.56 | -1.45% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 7695.80 | 126.50 | +1.67% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 10261.55 | -94.65 | -0.91% |
Japan's factory activity shrank in February at the fastest pace in over two years, a private survey showed, highlighting companies' struggles amid a global economic slowdown, raw material inflation and policymakers' calls for higher wages.
The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index released on Wednesday fell to 47.7 in February from January's 48.9. Although higher than the flash reading, it marked the fastest decline since September 2020.
MOIL has informed that the prices of all Ferro grades of manganese ore with Manganese content of Mn-44% and above have been increased by 8% on the prevailing prices since 01.02.2023 w.e.f. midnight of 28.02.2023/01.03.2023.
The prices of all other Ferro grades of manganese ore with Manganese content below Mn-44%, SMGR (Mn-30% & Mn-25%), Fines and Chemical grades have been continued as prevailing since 01.02.2023 w.e.f. midnight of 28.02.2023/ 01.03.2023.
The basic price of Electrolytic Manganese Dioxide (EMD) has been increased for the month of March,23 from Rs 1,95,000 PMT to Rs 2,00,000 PMT w.e.f. midnight of 28.02.2023/ 01.03.2023.
Axis Bank has completed the acquisition of Citibank’s India Consumer Business from Citibank N.A. and the NBFC Consumer Business from Citicorp Finance (India) Limited (CFIL) as going concerns, without values being assigned to individual assets and liabilities for either business shall happen on March 1, 2023.
The cash consideration for the acquisition based on the contracted computation of closing position of assets, assets under management and liabilities as at January 31, 2023 stands at Rs 11,603 crore.
Auto components manufacturer Divgi Torqtransfer Systems on February 28 mobilised Rs 185.45 crore via anchor book, ahead of its initial public offering (IPO), which opens tomorrow.
The company has allotted 31.43 lakh equity shares to 12 anchor investors.
"...in consultation with merchant bankers, we have finalised allocation of 31.43 lakh shares to anchor investors at anchor investor allocation price of Rs 590 per share," Divgi said in its filing to exchanges.
ICICI Prudential Mutual Fund, Nippon Life India, Quant Mutual Fund, Edelweiss Trusteeship, Motilal Oswal Mutual Fund, Aditya Birla Sun Life Insurance Company, Matthews Asia Funds, Aurigin Master Fund and Bengal Finance and Investment are the anchor investors in the company.
China Feb Manufacturing PMI at 52.6 and non-manufacturing PMI at 56.3. Its Feb Composite PMI stood at 56.4.
The Manufacturing PMI rises to the highest level since April 2012.
India's GDP growth rate fell for the second consecutive quarter in October-December, coming in at 4.4 percent, data released on February 28 by the Ministry of Statistics and Programme Implementation showed.
At 4.4 percent, the latest quarterly growth number is lower than the 6.3 percent growth that was witnessed in the second quarter of 2022-23, which itself was less than half the 13.2 percent increase posted in April-June 2022 as the GDP growth rate benefitted from a low base in the early part of the year.
In December, the Reserve Bank of India (RBI) had forecast a growth rate of 4.4 percent for the last quarter of 2022.
However, at the time, the central bank had projected this year's growth rate at 6.8 percent. But as per the statistics ministry's first advance estimate of GDP, released in early January, India's GDP was set to grow by 7 percent in 2022-23.
Trends on SGX Nifty indicate a flat start for the broader index in India, with a loss of 34.50 points or 0.20 percent. The Nifty futures were trading around 17,364.50 level on the Singaporean Exchange at 7:25 IST.
The Indian market ended lower for the eighth straight session on February 28 amid selling in the metal, oil & gas, healthcare and information technology names. Investors also turned cautious ahead of the GDP numbers to be released later in the day.
At close, the Sensex was down 326.23 points, or 0.55 percent, at 58,962.12, and the Nifty was down 88.70 points, or 0.51 percent, at 17,304.
After a muted start, the market remained range-bound in the morning but selling in the afternoon pulled the indices down, with Nifty slipping to the day’s low of 17,250.
In February, the Sensex shed a percent and the Nifty50 2 percent.
Cipla, Hindalco Industries, Dr Reddy's Laboratories, ONGC and Tata Steel were among the biggest losers on the Nifty. Gainers included Adani Enterprises, Adani Ports, Asian Paints, Britannia Industries and Power Grid Corporation.
Among sectors, the Nifty pharma index shed 1.3 percent and the energy index was down a percent. Metal and information technology each ended 0.8 percent down. However, auto and PSU Bank indices rose 0.4 percent each.
Broader indices outperformed the benchmarks, with the BSE midcap rising 0.6 percent and the smallcap index ending 0.4 percent higher.
On the BSE, information technology, metal, oil & gas and healthcare indices fell 0.8-1.2 percent but auto, realty and power were up 0.5-1.2 percent.
