GIFT Nifty Opening Update
GIFT Nifty opened today at 25,900.00. It is up 219.00 points (0.85%) from yesterday’s close of 25,697.50— so the trend is positive.
Indian equity benchmarks Sensex and Nifty 50 are expected to commence trading on a positive note on Monday, February 9, bolstered by strong signals from global markets. Asian markets exhibited positive momentum, with Japanese equities reaching record highs, and US stock futures also showing slight gains. “Indian equity markets are poised to commence on an optimistic trajectory, bolstered by a distinct enhancement in domestic fundamentals and a significant alleviation of external uncertainties. The India–US trade pact has eliminated a significant uncertainty, enhanced export prospects, and sparked a resurgence in foreign investor interest. The RBI’s decision to hold the repo rate at 5.25% with a neutral stance, alongside benign inflation expectations for FY26 (2.1%) and a steady growth outlook, continues to reinforce macroeconomic stability,” stated Ponmudi R.
On Friday, domestic markets experienced an uptick, bolstered by purchasing activity in certain major stocks in the wake of the Reserve Bank of India’s policy announcement. The Sensex increased by 266.47 points, representing a 0.32% gain, closing at 83,580.40, while the Nifty 50 saw an advancement of 50.90 points, or 0.20%, finishing at 25,693.70. Shares of BSE, Zydus Lifesciences, Aurobindo Pharma, Bajaj Electricals, and Bata India are set to attract attention as these companies announce their Q3 results today.
In light of current market conditions – Here is a compilation of stocks that could capture investor attention and are poised for movement today.
Equities to monitor:
- State Bank of India disclosed a 24% year-on-year growth in its standalone net profit, which reached Rs 21,028 crore in the third quarter.
- IREDA on Friday approved a fund-raising proposal amounting to Rs 2,994 crore via the qualified institutional placement (QIP) route.
- Tata Steel reported a significant increase of 723% in consolidated net profit for the December quarter, amounting to Rs 2,689 crore, compared to Rs 327 crore in the same period last year.
- Reliance Industries – Reliance Consumer Products, the FMCG division of Reliance Industries, has acquired a controlling interest in the Australia-based “better-for-you” beverage manufacturer Goodness Group Global (GGG).
- Aurobindo Pharma – The United States Food and Drug Administration (US FDA) carried out an inspection of Unit III, the formulation manufacturing facility of Eugia Pharma Specialities—a wholly owned subsidiary of the company—situated in Pashamylaram, Telangana, from January 27 to February 6.
- Force Motors has entered into a memorandum of understanding to obtain a complete stake in Veera Tanneries for Rs 175 crore, contingent upon relevant tax deductions.
- Kalyan Jewellers demonstrated a strong performance, with net profit increasing by 90.2% year-over-year to Rs 416.3 crore, up from Rs 218.8 crore in the same period last year. Revenue demonstrated robust growth, increasing by 42.1% year-over-year to Rs 10,343.4 crore, up from Rs 7,278.1 crore during the same period last year.
- Anand Rathi Share and Stock Brokers informed the exchanges on Friday that its Internal Inquiry Committee has revealed a fraud amounting to Rs 13 crore.
- BEML – The Board has approved an estimated investment of approximately Rs 1,500 crore for a greenfield rail manufacturing facility, designated ‘BRAHMA’, located in Umariya, Madhya Pradesh.