What not to miss today

Here are the important news to watch out for today.

Feb 21, 2019 02:02 IST India Infoline News Service

-Markets to open marginally down ahead of the weekly expiry.  For today, we expect morning profit booking to see weakness, while for the second-half the rally could be on the cards as foreign investors see buying interest come back.

-Nifty finds support around 10,646, while 10,800 will act as resistance. Bank Nifty finds support around 26,750, while 27,150 will act as resistance on the upside. 

-In yesterday’s trading session, FIIs bought 713cr stock in the cash market, whereas DIIs bought 113cr worth of stock. In the derivative market, FIIs bought 746cr of Index futures and bought 2206cr worth of Index options. In the Stock futures segment, FIIs bought 266cr worth of stock futures and sold 111cr stock options. 

-US markets see choppy trading as Federal Reserve raises growth concerns. Asian indices saw profit booking in the early trade as the Japanese Nikkei traded down 100 points. We expect consolidation for today as the markets digest the recent sharp gains and awaited the outcome of the US-China trade talks. Most Asian indices are trading near 3-month highs and routine profit booking could be the order of the day. 

-Rupee appreciates 24 paise to 71.10/$ on the back of easing oil prices and a weak dollar.

-Government to infuse Rs48,239cr in 12 PSU banks for 2018-19. Read more.
-Government extends exemption on some imported grades of steel until April 17, 2019.

-SEBI relaxed norms for the proposed buyback of Coal India. As per media report, Coal India had filed an application on February 12 with the regulator seeking exemption from the strict enforcement of the buyback norms.

-Grasim Industries completes acquisition of the chlor-alkali business of KPR Industries.

-Credit Suisse hikes TP to Rs3,400 on Britannia.

-HSBC cut TP to Rs138 on GSPL.

-Moody's changes JSW Steel’s outlook to positive; affirms all ratings.

-Moody's affirms Yes Bank’s ratings; changes outlook to stable from negative.

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