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

News and Impact
 
·         Expects market to open on a positive note on account of some stability in the global equity market. US and European Union imposed limited sanction against Russia which may not be major impact in the global equity market.  However, intra-day volatility may continue as geopolitical risk of the Ukraine-Russian standoff is adversely impacting the global market, and India is no exception. Brent Crude surged to 7-year high at nearly $100/bbl and continued FIIs selling may negative impact in the market. However,  short covering may not be ruled out ahead February F&O series expiry tomorrow. Yesterday, India VIX, climbed up over 27% to 1-year high at 27.8. Upcoming Fed meeting and state election results are important factor in the market. FIIs were net sellers Rs3246cr while DIIs were net buyers Rs4109cr, Yesterday. Both US Future and SGX Nifty advance nearly half percent each.
·         Wall Street stocks fell Tuesday after President Joe Biden unveiled fresh sanctions on Moscow, while a surge in oil prices was limited by expectations the measures would not impact Russia's crude production. Dow Jones, Nasdaq Composite and S&P 500 declined over 1% each. US President Biden, in a White House speech, said the penalties on Russia would go "far beyond" existing sanctions and include moves against two Russian banks and to cut the country off from Western financing by targeting Moscow's sovereign debt. S&P 500 falls to correction over 10% declined in the last few sessions. 
·         U.S. equity futures rose Wednesday along with Asian stocks as traders reviewed the scope of Western sanctions imposed on Russia to assess geopolitical risks from the standoff over Ukraine. Hong Kong, Taiwan, South Korea and Australia Index gained quarter percent. Russia Index gained over 1% yesterday while intra-day declined by 10%. Japan market is shut today.
·         European equities ended a choppy session little changed as investors considered the extent of possible economic damage from tensions between Russia and the West over Ukraine. UK, Germany and France Index declined marginally at the end of the day.
·         Oil edged lower to $97/bbl after U.S. President Joe Biden unveiled sanctions that avoided the harshest restrictions against Russia, while progress in Iran nuclear diplomacy offered to bring some relief to tight global energy markets.
·         Gold held steady at $1900/ounce as investors weighed the severity of Western sanctions on Russia against prospects for tighter U.S. monetary policy.
·         Actionable -  Maruti, Mapmy India, Tata Motor, Nalco
·         Brokers Radar – HDFC TGT by Goldman at 3081
·         Events - Ex-dividend JBM Chemical Rs8.5, Nureca Ltd Rs3, MOIL Rs3, Sandesh Rs5, Polyplex Corp Rs35, Sanofi India results, 4th phase of Uttar Pradesh election
·         Market Summary - Crompton Greaves Consumer Electricals to acquire controlling stake in Butterfly Gandhimathi Appliances,  IndiaMART leads the Series B funding round of Logistics SaaS Platform Fleetx, Heranba Industries to set up subsidiary for Agro Chemical business, Black Rose Industries commences commercial production of N-Methylol Acrylamide, EasyTrip planners partners Toffee for travel insurance. Mahindra and Mahindra arm completes sale of stake in JV
·         Hero MotoCorp and BPCL join hands to set up charging infrastructure for 2-wheeled Electric Vehicles – positive
·         Crompton, a leading electrical consumer durables company in India, announces that it has signed definitive agreements on February 22, 2022 to: (a) acquire upto 55% stake in Butterfly, a company engaged in the manufacturing, marketing - Positive
·         Indian Hotel - Leisure Hotels Group partners IHCL-backed Ginger to open hotel in Greater Noida –positive
·         M&M had agreed to sell its entire stake aggregating 49% of the paid-up Equity Share Capital held in Mahindra Tsubaki Conveyor Systems Private Limited ("MTC") to Tsubakimoto Bulk Systems Corp., for a consideration of Rs. 58.89 crores.- positive