The market bounced back from a potential downward trend and experts predict that it could reach record highs if the Nifty 50 stays above the support level of 21,500. On February 1st, the budget day, the Nifty 50 fell slightly while the India VIX decreased after the FOMC meet outcome and interim budget. Canara Bank, Eicher Motors, and BEML outperformed the benchmarks with Canara Bank.

Ashok Leyland's stock price dropped by 3%, trading at Rs. 168.3, after the company reported a 7% decrease in total sales to 15,939 units in January 2024 compared to 17,200 units sold in the same month last year. This decline was driven by a drop in both MHCV and LCV sales by 8% and 7% respectively. This marks the third consecutive month of declining sales for the company.

The Indian financial landscape has undergone a significant change with the new tax regime limiting tax deductions for investors. This presents an opportunity to shift from a myopic approach focused on tax benefits, towards a more comprehensive investment strategy based on factors such as risk tolerance, investment horizon, and financial goals. It is crucial to diversify investments, assess risk.

The interim budget introduced crucial proposals from a market perspective, including boosts to housing, an addition of 40,000 rail bogies, a rooftop solar scheme and the Lakhpati Didi scheme. These measures are expected to have a positive impact on various sectors, such as housing, construction-related segments, railways, defence and microfinance companies.

Punjab-based Capital Small Finance Bank is set to go public for raising up to Rs 523.07 crore, on February 7. The price band for the offer has been set at Rs 445-468 per share. The IPO will close on February 9, while bidding for the anchor book of the issue will open for a day on February 6. The IPO is a mix of fresh shares worth Rs 450 crore, and an offer-for-sale (OFS) of 15,61,329 equity share.

Government to receive bonus shares worth ₹ 2,940 crore from GAIL and EIL this fiscal year. GAIL's share worth ₹ 2,840 crore and EIL's worth ₹ 99 crore. Last bonus issue for Gail in September 2022. Shareholders don't have to pay for bonus shares. Government has majority stake in both companies. Gail's shares up 80% in a year.

Equity markets close lower on Budget day due to uncertainty about US Fed interest rate cuts. Companies like IndiGo, Tata Motors, JSW Infra, Delhivery to announce Q3 results today. Titan sees 9% profit growth, Hero MotoCorp's sales up 21%, Mphasis' net profit at Rs 374 crore, Eicher Motors' total sales up 2%. Pricol's net profit and revenue increase, while Paytm stocks plummet following RBI action.

KKR and CPPIB have sold off their holdings in Indus Towers, India's largest telecom tower company, through multiple block deals to undisclosed buyers, raising over ₹3,900 crore. This comes after the two private equity firms had purchased a 10.3% stake in Bharti Infratel for ₹6,194 crore in 2017. Vi's financial struggles have caused challenges for Indus Towers.

Mumbai: Shares of One97 Communications, the parent of digital payments firm Paytm, plunged 20% Thursday - the lowest tradable limit of the day - even as analysts downgraded the stock after the Reserve Bank of India directed subsidiary Paytm Payments Bank to stop offering its key services after February 29. The stock closed at ₹608.80 on the BSE on Thursday.

The Nifty has been trending upwards with higher tops and bottoms on monthly charts, but a recent Doji candle pattern at the life-high level may signal potential market fatigue. Despite a correction in the last couple of weeks, the index maintains a "higher top higher bottom" formation, indicating demand at lower levels. On daily charts, it is consolidating between 21,350 and 21,850 levels.

U.S. stocks bounced back on Thursday, driven by strong earnings reports and the Federal Reserve's comments that a rate cut in March is unlikely. The tech-heavy Nasdaq led gains, while Meta Platforms and Amazon saw post-market boosts. Apple, however, dipped after reporting lower-than-expected sales in China. Economic data showed signs of a slowing labor market.

China approved licences for 32 imported online games for 2024, its press and publication administration said on Friday in a statement on its website. Among the games approved by the regulator are two titles to be published by Tencent Holdings such as Kirby Star Allies and Taiko no Tatsujin by Nintendo.

Intel is facing delays in their $20 billion chipmaking project in Ohio due to market challenges and slow distribution of funding. The timeline for construction has been pushed back to late 2026, with expected completion next year. This has caused a 1.5% drop in their stock value. Intel remains committed to the project and is making progress, but changing timelines are expected in large-scale.

The government has pushed its plan to infuse equity into Indian Oil, Bharat Petroleum, and Hindustan Petroleum to the next fiscal year and slashed the proposed amount by half to ₹15,000 crore, according to the budget document.This means the planned rights issue by Indian Oil and BPCL will be deferred to the next fiscal year. Similarly, the preferential allotment plan by HPCL.

Indian stock market opens with strong gains on Friday, with bank and IT stocks leading the way. The S&P BSE Sensex is up 841 points at 72,486, while the Nifty is up 250 points at 21,948. 43 stocks are trading in the green, with Adani Ports and Special Economic Zone, BPCL, ICICI Bank, Coal India, and Hero MotoCorps as top gainers. Nifty Bank is up over 1%.