Market Bizzz

Shree Ram Twistex shares will list on exchanges Monday. The company’s Rs 110 crore IPO saw strong demand, subscribed nearly 44 times. High net-worth and retail investors showed significant interest. Despite this, the grey market premium is flat, suggesting a listing near the issue price of Rs 104.

Kiaasa Retail’s shares are set for their BSE SME debut on March 2, with the grey market indicating a flat listing at its Rs 127 issue price. The Rs 70 crore IPO saw moderate overall subscription, though a small QIB portion was heavily oversubscribed. The company plans store expansion with IPO funds.

Foreign investors showed buying interest in Indian stocks in February. However, recent geopolitical tensions are causing concern. Experts believe FIIs may pause fresh investments. They are likely to observe the evolving situation before committing further funds to emerging markets. This cautious stance could impact market sentiment.

Oil prices rallied sharply after US and Israeli strikes on Iran heightened Middle East tensions. Brent and WTI hit multi-month highs, with further gains likely amid supply risks through the Strait of Hormuz, potentially pressuring equities and oil-sensitive sectors.

Nifty closed lower after sustained selling, staying above long-term averages but showing short-term weakness below key resistance. Technical indicators suggest consolidation with corrective bias. Energy, infra and financials show relative strength, while IT, auto and midcaps lag in near term.

French bank BNP Paribas acquired 5.28 lakh shares of State Bank of India for Rs 64 crore. The transaction occurred through a block deal with Societe Generale. SBI shares have shown strong investor returns over the past year. The bank recently surpassed Tata Consultancy Services in market capitalization.

Infosys and Wipro ADRs tumbled on the NYSE amid AI-driven fears and higher-than-expected US wholesale inflation. Block’s CEO Jack Dorsey announced significant workforce reductions, citing AI’s potential to enable smaller teams to achieve more, a move that boosted Block’s stock. European markets mostly mirrored the pessimistic sentiment.

Shriram Pistons and Rings raised Rs 1,000 crore via 18- and 24-month NCDs from mutual funds to partly finance its Rs 1,670-crore acquisition of Grupo Antolin’s India entities. The deal diversifies SPRL into automotive interiors, reducing EV transition risks and strengthening its business profile.

Gold prices remained stable as investors assessed U.S.-Iran nuclear talks, while a strong dollar pressured the yellow metal. Despite slight increases in jobless claims, the labor market appears steady. Markets anticipate Federal Reserve rate cuts, though economic optimism could temper this outlook.

Global currency markets saw the Australian dollar surge on hawkish central bank expectations, while the Japanese yen weakened due to political interference in monetary policy. Shifting interest rate outlooks dominated currency movements this month, with investors now focused on which central banks will lead in rate hikes, not cuts.