At 07:30 AM, Gift Nifty futures quoted around 22,107, indicating a likely gap-up of over 100 points on the Nifty50 index.
In Asia this morning, Japan’s Nikkei jumped 1.3 per cent. Hang Seng, Kospi and Straits Times advanced over 0.6 per cent each, while Taiwan added 0.2 per cent.
Overnight in the Wall Street, the S&P 500 rallied to a new high, while Dow gained nearly a per cent as traders adjusted interest rate cut expectations after a larger-than-expected drop in US retail sales.
The US Commerce Department report showed retail sales dropped 0.8 per cent in January as against forecast of a 0.1 per cent dip. Following which, bets on a rate cut in May rose to 40 per cent from 35 per cent earlier.
The US 10-year bond yield eased a wee bit to 4.234. Brent Crude Oil futures, however, jumped to near $83 per barrel.
Meanwhile, these are the stocks that are likely to be in focus on Friday.
New listing: Entero Healthcare to list on the stock exchanges today. The IPO had received lukewarm response and was subscribed 1.53 times.
InterGlobe Aviation, SpiceJet: IndiGo saw a slight dip in market shares to 60.2 per cent in January, as per data released by Directorate General of Civil Aviation. The market share of SpiceJet remained unchanged at 5.6 per cent.
NBCC: Won housing redevelopment project for MEA worth Rs 262 crore.
UPL: Global rating agency Fitch Ratings has downgraded UPL’s long-term issuer rating to ‘BB+’ from ‘BBB-‘ citing weak financials.
First Published: Feb 16 2024 | 8:07 AM IST