News Overview

It was a month of active churn across large caps, mid-caps, and small caps in February 2024.

Market sentiment regarding the Fed's monetary policy stance shifted, with Fed funds futures traders now pricing in a 75% likelihood of rate cuts commencing in June, up from 59% on Tuesday, according to the CME Group's FedWatch Tool. Concurrently, the dollar depreciated to a one-week low against its counterparts, while benchmark U.S. 10-year Treasury yields exhibited a decline.

The IPO comprised a combination of fresh shares worth ₹175 Crore and an offer-for-sale (OFS) of 17.5 lakh shares worth ₹125.13 Crore by promoter Krystal Family Holdings. Priced in the range of ₹680-715 per share, the proceeds from the fresh issue will primarily be allocated towards working capital requirements (Rs 100 Crore), debt repayment (₹10 Crore), and purchase of new machinery (₹10 Crore). The remaining funds will be utilized for general corporate purposes.

However, ongoing worries about global oil supplies due to the war in Ukraine continue to support prices. Attacks by Ukrainian drones targeted Russian refineries, taking out a significant portion of the country's processing capacity. This disruption, combined with production cuts from OPEC (Organization of the Petroleum Exporting Countries), could tighten the market.

On Thursday, Asian markets rebounded, while gold prices and Japan's Nikkei soared to new highs.

Here are some of the stocks that may see significant price movement today.

A number of corporations, including Grasim, South Indian Bank, and Indiabulls Housing Finance, recently issued and completed their separate rights offerings.

The Board also authorised issuing non-convertible taxable debentures worth ₹25 Crore through a private placement.

Central Bank, founded in 1902, manages over $20 billion in assets and serves more than 150 facilities in 78 cities in Missouri, Kansas, Illinois, and Oklahoma.

The BSE Midcap and Smallcap indices concluded the day on a relatively flat note.