Stock Market Live Updates: Indian stock markets are expected to open on a positive note, though investors will remain concerned over the inflation numbers and the trajectory of future rate hikes. Wall Street closed with gains on Wednesday and Asian markets are also trading in the green in the morning session.
Strong retail sales data in the US helped sentiment among investors who are cautious on inflationary pressures and fears of a recession. Meanwhile, most of Adani's shares closed with gains on Wednesday. MSCI said it will defer the implementation of updates on foreign inclusion factors for two Adani group companies -- Adani Total Gas and Adani Transmission -- till the May index review.
16 Feb 2023, 07:25:22 AM IST
Buy or Sell: Vaishali Parekh recommends 3 stocks to buy today
Vaishali Parekh of Prabhudas Lilladher recommends three stocks to buy today and those three stocks are REC, Tata Consumer and McDowell or United Spirits Ltd.
1] REC: Buy ₹115.50, target ₹120, stop loss ₹113;
2] Tata Consumer: Buy ₹728, target ₹750, stop loss ₹718; And
3] United Spirits or McDowell: Buy at ₹787, target ₹815, stop loss at ₹777. (Read more)
16 Feb 2023, 07:22:10 AM IST
MSCI defers implementation of updates for two Adani Group firms
Index provider MSCI said it will defer the implementation of the update of foreign inclusion factors for two Adani group companies -- Adani Total Gas and Adani Transmission -- to the May index review.
Reversing updates to Adani Total Gas and Adani Transmission in the February index review will be reflected in MSCI index product files from today (February 16), it said.
MSCI will also apply a special treatment to all Adani Group affiliated securities in the MSCI Equity Index starting February 2023. (Read more)
16 Feb 2023, 07:21:08 AM IST
Indigo co-founder Rakesh Gangwal's wife to sell $350 million stake in block deal
Shobha Gangwal, wife of IndiGo co-founder Rakesh Gangwal, is set to sell a 4% stake in India's largest airline worth Rs 353 million through a block deal to be held on Thursday, according to the terms of the deal reviewed by Mint. Dollar is.
This is the second instance of a stake sale by the Gangwal family in InterGlobe Aviation Ltd, which operates IndiGo, after it sold a 2.8% stake in the airline for around $250 million in September. Stock exchange data shows that the Gangwal family held 33.78% stake in the airline as of December 31. (Read more)
16 February 2023, 07:20:17 AM IST
Wall Street closed higher on Wednesday as the dollar rose after strong economic data
Wall Street's three major indexes closed higher on Wednesday as U.S. Treasury yields as well as January U.S. retail sales data rose the most in nearly two years, suggesting a resilient economy ahead of interest rate hikes. fueling concerns about a rise in
After two straight monthly declines, the Commerce Department said retail sales rose 3.0% last month, the biggest increase since March 2021, following an unchanged decline of 1.1% in December.
Paired with Tuesday's data showing monthly inflation accelerated in January, evidence of increased consumer spending raised concerns that the U.S. The Federal Reserve will keep raising rates for longer than some investors expect.
"It's all about the Fed. As data like retail sales come in strong enough, it has more food for the Fed to raise rates, perhaps at a lower pace, but, at the very least, to keep them higher for longer." for," said Bruce Zarrow, managing director of Granite Wealth Management.
The Dow Jones Industrial Average rose 38.78 points, or 0.11%, to 34,128.05, the S&P 500 rose 11.47 points, or 0.28%, to 4,147.6 and the Nasdaq Composite rose 110.45 points, or 0.92%, to 12,070.59.
MSCI's broadest basket of shares worldwide rose 0.04%, but have gained nearly 8% so far this year. (Reuters)
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