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

News and Impact
 
·         Expects market to open on a strong note on account of smart recovery in the global markets and fall in commodity price. Market expectation that the US and European countries will impose only financial sanction against Russia and to avoid any military action by NATO. As a result, US and Asian market and all asset classes (Gold, Oil) calmed down after big moves on Thursday as investors assessed the impact of Russia’s invasion of Ukraine and Western sanctions, against the imminent monetary policy tightening in the U.S. Dow Jones bounced back over 1000 points intra-day lower and Nasdaq Composite recovered 7% from intra-day low. Gold and Oil price corrected by 3-5% from yesterday high. However, intra-day volatility may not be ruled out concern of geo-political tension between US-Ukraine and ahead of US Fed meeting next month. FIIs continued selling in Indian equity and net sellers over Rs6k yesterday. SGX Nifty is up 230 points or 1.5% while US Future slipped by half percent. SEBI postpones F&O margin rule implementation to May 2, 2022 may relief for traders on a short term prospective.
·         U.S. stocks staged a furious comeback Thursday as investors piled into growth and technology stocks in the wake of Russia's invasion of Ukraine. Dow Jones recovered over 1000 points (3%) from the intra-day low and finally ended over quarter percent higher. Both Nasdaq Composite and S&P 500 surged 3% and 3% respectively. Investor optimism grew, however, after President Biden in an afternoon address announced new sanctions on Russian elites, state-owned enterprises and banks. The European Union later announced its own sanctions
·         Stocks fell in the aftermath of the attacks on cities across Ukraine, while oil, gold and government notes rose. Investor optimism grew, however, after President Biden in an afternoon address announced new sanctions on Russian elites, state-owned enterprises and banks. The European Union later announced its own sanctions.
·         Stocks climbed in Asia on Friday while U.S. equity futures wavered as traders grappled with the economic and monetary-policy implications of the Ukraine conflict and Western sanctions on Russia. Shares rose over 1% each in Japan, South Korea, Taiwan and Australia.
·         European stocks sharply declined on Thursday close as Russia started an invasion of Ukraine with many companies halting their Ukrainian operations. UK, Germany and France Index declined by 4% each.
·         Oil pushed higher in early trading following a wild session in which prices spiked above $106 a barrel before giving up gains after Russian energy supplies were spared from sanctions. Brent fell to $101/bbl after touching intra-day high of $106/bbl yesterday.
·         Gold tumbled from the intra-day high after the US President Joe Biden announced additional sanctions on Russian banks and said the U.S. would release more strategic oil as conditions warrant. Gold is hovering at $1900/ounce while touched intra-day high $1978/ounce yesterday.
·         Actionable – Apollo Hospital, UPL, Bajaj Finance
·         Brokers Radar –JP Morgan TGT on  Kotak Bank at  1900, Jefferies TGT on Bajaj Auto at 4230, Jefferies TGT on Hero Motocorp at 4230. Eicher Motor TGT by Jefferies at 3200
·         Events – Nazara Tech board meeting
·         Market Summary - Bharat Forge enters into Definitive Agreement to acquire JS Autocast, Indus Tower 3% equity changes hands on NSE and BSE Yesterday, Moody's raises India 2022 GDP growth forecast to 9.5% from 7%, Hindustan Unilever Separates Chairman, CEO Roles, Apollo Hospitals Group to enter the metaverse using 8chili HintVR platform, Paytm Payments Bank fortifies its leadership in UPI beneficiary transactions and FASTag issuances.
·         UPL Limited board to consider buyback on March 2, 2022, Board meeting – positive