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Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments:
After the sharp up move on the index yesterday afternoon, it is recommended to wait for a couple of days before taking a position in either direction. Since it is the monthly expiry today, traders should wait it out to see where the Nifty is likely to move.
If we manage to close above 15,100 and sustain above it, it is quite possible the uptrend has resumed again and we should then look forward to higher targets. If we turn from these levels and break 14,900, we can reconsider opportunities to go short. It is definitely a wait-and-watch situation and hasty decisions should be avoided.
Rupee Opens:
Indian rupee opened flat at 72.30 per dollar on Thursday against previous close of 72.32, amid buying seen in the domestic equity market.
On February 24, the local currency ended 14 paise higher at 72.32 against Tuesday’s close of 72.46.
Nureca lists at 58.7% premium
Home healthcare and wellness products seller Nureca share price listed with a 58.74 percent premium on February 25, the first day of trading on the bourses. The stock opened at Rs 634.95 on the BSE, higher compared to issue price of Rs 400 per share.
On the National Stock Exchange, it started off the day at Rs 615, a 53.75 percent premium over IPO price.
Nifty Metal Index added over 2 percent led by the Hindustan Copper, Hindalco, Nalco:
Angel Broking partners with Vested Finance
Angel Broking announces the launch of international investments for Indian investors with its ‘Vested Finance’ partnership, company said in release on exchange.
At 09:45 hrs Angel Broking was quoting at Rs 327.80, up Rs 4.40, or 1.36 percent on the BSE.
Ashok Leyland to acquire 38% in Hinduja Tech:
The company has entered into a share purchase agreement with Nissan International Holding BV to acquire 58,500,000 shares for a total consideration of Rs 70,20,00,000 constituting 38% in the paid-up share capital of Hinduja Tech Limited.
At 09:26 hrs Ashok Leyland was quoting at Rs 128.80, up Rs 2.25, or 1.78 percent on the BSE.
MTAR Technologies fixes IPO price band at Rs 574-575
Hyderabad-based MTAR Technologies, a leading player in the precision-engineering industry, has fixed price band for its initial public offering at Rs 574-575 per share. The offer will open for subscription on March 3.
The initial public offering comprises a fresh issue of 21,48,149 equity shares by the company and an offer for sale of 82,24,270 equity shares by promoters and investors. Click to read more
Gainers and Losers on the BSE Sensex:
Market Opens: Indian indices opened on positive note on February 25 with Nifty above 15,100 on the back of strong global cues.
At 09:16 IST, the Sensex is up 450.78 points or 0.89% at 51,232.47, and the Nifty up 132 points or 0.88% at 15,114. About 1000 shares have advanced, 203 shares declined, and 50 shares are unchanged.
ICICI Direct:
Indian markets are likely to see a positive opening on the back of strong global cues amid optimism over economic recovery and the government’s mass privatisation plans. However, global news flows and sector specific development will be key monitorables. US markets ended higher post US Fed’s comments regarding interest rates.