What not to miss today

Here are the important news to watch out for today.

Feb 28, 2019 07:02 IST India Infoline News Service

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-SGX Nifty indicating a flat opening for the Indian markets ahead of February series expiry. We expect another volatile day as February series derivative contracts expiry coupled with border tension dictates the trend today.

-Nifty finds support around 10,730, while 10,930 will act as resistance. Bank Nifty finds support around 26,700, while 26,900 will act as resistance on the upside.

-In yesterday’s trading session FIIs bought 423cr stock in the cash market, whereas DIIs bought 66cr worth of stock. In the derivative market, FIIs bought 456cr of Index futures and bought 635cr worth of Index options. In the Stock futures segment, FIIs bought 386cr worth of stock futures and sold 91cr stock options.

-US stocks close lower second day running as profit booking emerges. Crude oil also consolidated as China data disappointed, while bond yields remained range bound. President Trump & North Korean leader end day one of denuclearize meet in Hanoi amidst positive rhetoric.

-Asian indices saw profit booking in early trade as most markets consolidated the recent sharp gains. Oil prices remained unchanged, while the dollar saw mild weakness. We expect more data from China on manufacturing to dictate the short term trend as the economy struggles to get back the momentum.

-China's factory activity shrinks in February. The official Purchasing Manager's Index (PMI) fell to 49.2 in February, data showed on Thursday, the weakest level since February 2016. The 50-point index mark separates expansion from contraction on a monthly basis.

-Rupee depreciates 17 paise to 71.24/$. This is on the back of escalating geopolitical tensions between India and Pakistan.

-Dalmia Bharat group claims MF units of subsidiaries illegally transferred. Odisha Cement Ltd., soon to be renamed Dalmia Bharat Ltd., in its filing to the exchanges further added that it has filed a complaint with regulators and the police after a depository participant transferred mutual fund units of the group’s arms. Read more.

-Wipro to sell part of its Appirio business to Alight for $110mn. Alight to acquire Workday and Cornerstone On Demand Business from Wipro.

-SBI reports fraud worth Rs7,951.29cr in Apr-Dec 2018. As per a PTI report, in an RTI reply, the nation's largest lender said, the first quarter reported 669 cases of fraudulent activities amounting to Rs723.06cr, the second quarter saw 660 cases involving Rs4,832.42cr and the third quarter reported 556 cases amounting to Rs2,395.81cr.

-GST evasion of Rs20,000cr detected in Apr-Feb FY19.

-Future Retail promoter Future Corporate Resources acquired 1.17lakh shares on Feb 25.

-Apollo Tyres promoter group PTL Enterprises acquired 75,000 shares on Feb. 25.

-Jindal Stainless promoter group Abhuday Jindal acquired 70,000 shares between Feb 25-26.

-IDFC First Bank promoter IDFC Financial Holding acquired 62,000 shares on Feb 26.

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