Superior Sensex, Nifty eyes 17,400; auto, IT on the rise, banks are weighing

Markets remain nervous after Western countries, including the United States, warned that Russia’s military presence on Ukraine’s borders was increasing, not decreasing, as Moscow insisted. Concerns over a super-hawkish Fed rate-tightening campaign waned overnight after minutes from the latest policy meeting signaled a more measured, data-dependent approach by central bank officials

Feb 17 2022, 09:30:06 IST

Top winners/losers on Sensex so far

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Sensex-Shares
Feb 17 2022, 09:23:46 IST

Nifty tops 17,400 in opening bids

Nifty50

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Nifty50
February 17, 2022, 09:20:17 AM IST

Sensex opens above 58,000

BSE indices.

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BSE indices.
Feb 17 2022, 09:09:57 IST

Astute View: Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

“We continue to face selling pressure at higher levels. 17600 is the key resistance level and until we break above it on the close the trend will continue to remain sideways to the downside. We are in a commercial area and it is imperative that we are patient as the shutdowns are extensive and unforgiving.”

Feb 17 2022, 09:06:56 IST

Sensex regains 58,000 in pre-opening

Market check.

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Market check.
Feb 17 2022, 09:05:33 IST

Nifty tops 17,400 pre-open

Nifty50

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Nifty50
Feb 17 2022, 08:55:52 IST

TCS, MATRIXX Software Partners to Offer a Complete Next-Generation Subscription Management Platform for Communication Service Providers: The BSE Repository

Tata Consultancy Services has announced a partnership with MATRIXX Software to integrate TCS HOBSTM, its ready-to-use digital business platform for managing subscriptions, devices and data, with converged and cloud-native charging capabilities from the MATRIXX digital commerce platform. The integrated solution will help Communications Service Providers (CSPs) transform their prepaid and postpaid businesses, deliver a superior customer experience and drive growth.

Feb 17 2022, 08:47:28 IST

Market Still Hesitant, Nifty Expected to Stay Ranged: Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One

Indian markets started the session on a volatile front on Wednesday despite positive global indices, but quickly managed to surge higher. During the second half, some corrections were triggered which reduced all gains in the benchmark Nifty50. After an intense tussle between bulls and bears, Nifty ended the day on a subdued note with a mere loss of 0.17% to the 17322 level.

The index resisted breaking above the 17500 mark and witnessed some correction, indicating that it was a solid wall. On the other hand, 17100 should provide vital support for the index, and as long as the mentioned area is not breached, a range-bound move should be seen. Going forward, looking at the technical structure and sentiments of market participants, indecision might be felt.

During this time, we may see some volatility due to weekly expiry and short-term global scenarios. Therefore, a selective approach to stocks should be taken in the market at this time and aggressive betting should be avoided.

February 17, 2022, 08:46:15 AM IST

52,500 companies will break records

The Ministry of Corporate Affairs (MCA) is removing more than 52,500 businesses from official records for failing to file annual returns, it said in a business sector update for January. These are companies that have not filed returns and financial statements for at least two consecutive years. Struggling businesses tend to default on their reporting obligations when economic activity falters and disappears. Their removal from official records is part of a cleanup campaign by the ministry, which is set to launch a new version of its MCA21 compliance portal. Cleaning removes dead wood from the system and facilitates regulatory oversight.

This comes amid the government giving businesses more time to file their tax returns and audit reports for the fiscal year ending March 31, 2021.

The soon-to-be-rolled version of the compliance portal is expected to offer online arbitration and host an “MCA lab” that will deploy artificial intelligence and data analytics to spot compliance trends that could warrant regulatory intervention.

Feb 17 2022, 08:25:53 IST

Spectrum must be made affordable for 5G to take off: Nitin Bansal

Ericsson is betting big on 5G rollout, pegging 5G digitization revenue at nearly $17 billion for India. But spectrum must be made available at affordable prices for 5G to take off, Nitin Bansal, head of Ericsson India, said in an interview. At least 40 million Indian smartphone consumers are willing to pay a premium to subscribe to 5G plans with bundled digital services within the first year of launch, he added. (Read here)

Feb 17 2022, 08:15:01 IST

Bad Bank to Ease Stress and Ease Credit Drawdown: RBI Bulletin

According to an article in the February newsletter of the Reserve Bank of India (RBI), the formation of a bad bank in India is likely to help reduce stress in the banking system and give a boost to the credit cycle.

Cross-country evidence suggests that if logistical and financial challenges are carefully overcome, the experiments of these bad banks may have more success than failures, RBI said. Some experts hailed the formation of the National Asset Reconstruction Co. Ltd (NARCL) as a panacea for all ills, while others pointed to the existence of multiple pathways to resolving stressed assets and their challenges, it said. -he declares.

The article draws lessons from other countries where bad banks were created to predict whether NARCL would succeed. (Read here)

Feb 17 2022, 08:13:42 IST

“Dangerous” vehicles to get a tracking system: Govt

The government plans to make it mandatory for all vehicles carrying dangerous goods to fit approved vehicle tracking devices to ensure road safety.

The Ministry of Road Transport and Highways has issued a draft notice that vehicles carrying gases, such as argon, nitrogen and oxygen and other dangerous goods, will need to be equipped with tracking systems. The ministry has invited stakeholders to provide feedback within 30 days, after which an official notification of the changes will be issued.

Currently, only vehicles with a national license are required to install tracking systems for the transport of dangerous goods.

The Department of Transport, under the draft notification dated February 15, has proposed that each vehicle carrying dangerous or dangerous goods be fitted or fitted with a vehicle tracking device in accordance with the Automotive Industry Standard (AIS) 140.

Feb 17 2022, 08:05:59 IST

SGX Nifty futures are trading higher

Nifty futures on the Singapore Stock Exchange rose 48 points to 17,365 in early trades, hinting at a positive start for Indian indices.

Feb 17 2022, 07:54:52 IST

Asian stocks mixed; Ukraine crisis, Fed tightening at the center of concerns

U.S. stock futures fell and Asian stocks were mixed on Thursday as traders weighed geopolitical concerns and the likely trajectory of Federal Reserve interest rate hikes.

Shares slid in Japan, surged in South Korea and fluctuated in Hong Kong, where reports suggest authorities are preparing mass testing to tackle Covid. US contracts fell after the S&P 500 managed a small gain on Wednesday.

Traders were digesting the United States’ rejection of Russian claims of a troop withdrawal from the Ukrainian border. The Kremlin has repeatedly denied any invasion plans.

The Fed’s latest minutes showed officials had concluded they would start raising rates soon and were on high alert that lingering inflation would warrant faster tightening. There were few new details on the balance sheet liquidation plans.

Investors expect Fed tightening of at least 150 basis points in 2022, from 75 basis points just a few weeks ago, to combat price pressures.

Japan’s Topix index fell 0.6%, Australia’s S&P/ASX 200 index climbed 0.6%, South Korea’s Kospi rose 1.2%, the Hang Hong Kong’s Seng added 0.2% and China’s Shanghai Composite fell 0.1%.

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