Market Bizzz

“In the near term, defensives like pharma, IT, and consumer sectors might act as safe havens. These sectors have underperformed over the past two to two-and-a-half years. During this time, markets were driven by real estate, capital goods, defense, railways, and other capital formation-related stocks, many of which have moved ahead of fundamentals.”

The Indian rupee depreciated to an all time low during the day, but ended slightly stronger at 85.01 per US dollar on a closing basis, due to the rebalancing of FTSE’s equity index and interventions from the Reserve Bank of India, traders said.

The National Stock Exchange (NSE) has announced exclusion of 16 stocks from the futures & options (F&O) segment with effect from February 28, 2025 and no contracts will be available for trading from this date.

The National Stock Exchange (NSE) has announced exclusion of 16 stocks from the futures & options (F&O) segment with effect from February 28, 2025 and no contracts will be available for trading from this date.

Varun Saboo, Head-Equities at Anand Rathi Shares, predicts the Nifty will remain firm due to India’s superior growth rates. He advises caution in the FMCG sector, favors Bandhan Bank among struggling banks, and expresses optimism about two-wheelers and hospital stocks. He also sees potential in the QSR and online delivery platform sectors.

Shares of tiles maker NITCO will be in focus on Thursday following the company’s announcement of a Rs 105 crore order from Bengaluru-based real estate firm Prestige Group. NITCO will supply tiles and marble for several Prestige Group projects across various cities.

Shares of luxury hospitality company EIH Limited will be in focus on Thursday after ITC acquired a 2.44% stake in the company, representing over 1.5 crore equity shares. Additionally, ITC purchased a 0.53% stake in HLV Limited, equivalent to 34.60 lakh equity shares. EIH is part of The Oberoi Group, while HLV is associated with The Leela Mumbai. The acquisitions come as ITC announces a demerger of its hotels business.

The Bank of Japan held steady its interest rates on Thursday, opting to observe wage growth and inflation trends. The decision, widely anticipated, maintains the short-term policy rate at -0.1%. Governor Kazuo Ueda will elaborate on this decision and the findings of a policy review examining 25 years of deflation-fighting strategies, marking a potential shift away from extensive stimulus.

In the Nifty 50 index, 15 stocks were trading in the green, while 35 stocks were trading in the red.

A total of 10,309 shares changed hands on the counter till 11:05AM (IST).