·         Expects market to open on a positive note on accou | SKM INVESTMENT

 
·         Expects market to open on a positive note on account of smart recovery in the US market from intra-day low (over 1%), positive opening in the Asian markets and sharp decline oil price over 7-year high. Sentiment boosted after the US Fed cool down statement to aggressive hike in interest rate on its minutes of meeting. Among the geo-political factor, Russia has insisted that it’s serious about easing tensions over Ukraine, but the West remains unconvinced about a pullback of troops. However, intra-day volatility may not be ruled out due to geo-political tension between Russia-Ukraine. Continued FIIs selling, mixed bag on quarterly results and higher oil price is a major concern. SGX Nifty is up 0.3% or 60 points while US Future is flat to negative. Yesterday,  FIIs were net sellers worth Rs1891 while DIIs were net buyers Rs1180cr
·         US equity benchmarks erased most of their early losses but only the S&P 500 managed to turn green as minutes revealed that members of the Federal Reserve's policy committee were reluctant to tighten financial conditions too quickly. The S&P 500 gained 0.1% to 4,475.01 while Nasdaq Composite and Dow slipped 0.1% each but recovered 1% from the intra-day low.
·         Asian stocks were mixed Thursday amid renewed geopolitical concerns after American officials rejected Russia’s claims that it has begun to remove troops from Ukraine’s borders. Nikkei declined marginally while South Korea and Taiwan Index gained nearly half percent reach.
·         European stocks closed mixed amid lingering tensions between Russia and Ukraine and as investors reacted to UK inflation data, which was slightly ahead of expectations. Germany's DAX climbed 0.3%, France's CAC was up 0.2%, and the FTSE 100 in the UK was fractionally down.
·         Brent Crude slipped 3% to $92/bbl on signs an Iranian nuclear deal may be imminent, which could pave the way for a resumption of official flows from the Persian Gulf producer.
·         Gold rose 1% to $1868/ounce as uncertainty over geopolitical tensions on Ukraine spurred demand for the metal as a haven.
·         Actionable -  Wipro, BSE, Bandhan Bank and Tata Motor
·         Events - Weekly Nifty and Bank Nifty expiry, BEML – Extra ordinary meeting, Ex-dividend – Sundaram Finance Rs10, Selan Expolartion Rs5, National Aluminum Rs3, NMDC Rs5.73, IRCTC Rs2, MGL Rs9.50, FSL Rs3.50, Renaissance Global Rs5.50, Goldiam International Rs3.
·         Brokers Radar - Nomura TGT on Eicher Motor at 2710, Macquaire TGT on Eicher Motor at 2905. UBS raised TGT on Bharti from 760 to 855 , JP Morgan TGT on Tata Motor at 630
·         Results - Ambuja Cement and Nestle
·         Market Summary - Vi successfully demonstrates 5G Voice, BSE signs MoUs with four regional associations to promote EGRs and International Bullion Exchange, Moody's changes Vedanta's outlook to negative, Dynamix set to launch 3 new projects in Mumbai in 2022, GAIL to connect Srinagar to gas grid; Mumbai-Nagpur line by May 2023, Jan Monthly Economic Survey Expects An Economic Reset This Year, Wipro bags 5-year contract from ABB
·         Wipro wins five years contracts from ABB worth over $150mn. Company will help ABB’s Information Systems deliver enhanced, consumer-grade digital experiences for its 105,000 employees in over 100 countries. – positive
·         Tata Consultancy Services - The company announced a partnership with MATRIXX Software to offer a comprehensive next-gen subscription management platform for communication service providers.- positive
·         Infosys has been named a Foundational Partner for the launch of Google Cloud Cortex Framework. As a Foundational Partner, Infosys will help clients accelerate digital transformation and power new business capabilities with its market-leading data, analytics and AI expertise. – Positive