News and Impact   ·         Expects market to open on a weak n | SKM INVESTMENT

News and Impact
 
·         Expects market to open on a weak note on account of global cues. Across the global markets decline sharply due to geo-political tension between Russia and Ukraine. Gold price spiked to 14-month high of above $1900/ounce and Brent Crude surged by 4%.  SGX Nifty nosedived 200 points (1.2%) and US Dow Future declined by 500 points after Russian President Vladimir Putin signed a decree recognizing the self-proclaimed separatist republics in eastern Ukraine.  The market could not stretch the direction and turned negative as uncertainty in the global markets expected to be continued. Traders avoid bargain hunting in the market after the media report that the Security Council may impose sanction against Russia. The market is expected to be volatile due to the upcoming Fed meeting, geo-political tension and state election results. FIIs were net sellers Rs2262cr while DIIs were net buyers Rs2392cr yesterday.
·         Russian stocks plummeted in turbulent trading on Monday (down over 10%), on mounting concern that Moscow could soon launch an invasion of Ukraine. In an impassioned speech on Monday, President Vladimir V. Putin said he would recognize the independence of two Russia-backed territories in eastern Ukraine, while also making the case that Ukraine itself is historically an integral part of Russia.
·         European stocks closed at their lowest level in four months as investors weighed geopolitical risks from continuing tensions between Russia and Ukraine. Both Germany and France Index slipped 2% each. UK  Index declined half percent.
·         Asian market like Japan, Taiwan, Australia, South Korea Index fell 1-2% as tensions between the West and Russiaover Ukraine again intensified.
·         Gold price spiked to 14-month high of $1408/ounce after Russian President Vladimir Putin signed a decree recognizing the self-proclaimed separatist republics in eastern Ukraine, intensifying a standoff
·         with the West.
·         Oil prices rose 3% to $97/bbl and stock markets around the world sank on Monday amid rising concerns of a Russian invasion of Ukraine
·         Actionable - Vodafone - Idea
·         Brokers Radar - CLSA TGT on Wipro at 650, JP Morgan cut to neutral by JP Morgan at 3800, ITC TGT by JP Morgan at 250, Tata Consumer TGT by JP Morgan at 785, Colgate TGT by JP Morgan at 1580, HUL TGT by JP Morgan at 2600 and Godrej Consumer TGT by JP Morgan at 965, Dabur India TGT by JP Morgan at 620.
·         Events – Supreme Court verdict on one time spectrum charge, Oil India Rs5.75, TCS final day of share BUY-Back, SBC Exports bonus 1:1 and stock split 1:1, Garden Reach Rs5.95, MSTC Rs6.5, Mayur Uniquoters share buy-back meeting, Akzo Nobel Rs40, Hinduja Global bonus 1:1 and dividend Rs28, NHPC Rs1.31, NLC India Rs1.50
·         Market Summary - Govt to hire adviser to  manage  Voda-Idea equity conversion, Recovery most important thing we are focusing on, says finance minister, Bharti Airtel Joins SEA-ME-WE6 Undersea Cable Consortium To Scale Up High Speed Network Capacity, HFCL announced that it has joined the O-RAN Alliance, TCS introduces digital Garage innovation center in Sydney, RWE, Tata Power Sign Pact For Offshore Wind Projects In India, Reliance Jio's Subsea Cable System India-Asia-Xpress To Connect Maldives Directly To India & Singapore, IRCTC partner Bank of Baroda Financial for Rupay Card. Monsoon Seen ‘Normal’ in 2022, Forecaster Skymet Says, Indian Government, Panacea Biotech To Jointly Develop Beta-Coronavirus Vaccines. Vedanta Makes Oil Discovery in India’s Rajasthan Block.
·         Voda-Idea - The government will hire a transaction adviser to help manage the conversion of interest dues related to deferred spectrum payments and adjusted gross revenue into equity in Vodafone Idea. Vodafone Idea proposed the government convert interest dues amounting to Rs16,000 crore for a 35.8% stake in the struggling operator. – Positive