POST-MARKET SUMMARY 27th February 2025
On February 27, Indian equity indices closed flat after a lackluster trading session. Following mixed global cues, the indices opened slightly higher but remained range-bound throughout the day, with broad-based selling pressure. Shares of non-banking financial companies surged after the Reserve Bank of India (RBI) eased risk weight norms on bank lending to the sector. The central bank reduced the risk weight on such loans from 125% to 100%, effective April 1, reversing a tightening measure introduced in November 2023 that had raised capital requirements for banks.
Barring banking and metal stocks, all other sectoral indices ended lower, with auto, media, energy, capital goods, realty, and power declining 1-2%.
NIFTY: The index opened 21 points higher at 22,568 and made a high of 22,613 before closing at 22,545. Nifty has formed a bearish candlestick pattern on the daily charts. Its immediate resistance level is now placed at 22,630 while its immediate support is at 22,500.
BANK NIFTY: The index opened 124 points higher at 48,732 and closed at 48,743. Bank Nifty has formed a doji candlestick pattern on the daily charts. Its immediate resistance level is now placed around 48,900 while immediate support is around 48,500.
Stocks in Spotlight
▪ Bharti Airtel: Shares gained nearly 3% intraday following confirmation of merger discussions with the Tata Group. The talks aim to explore a potential deal merging Tata Play’s DTH business with its subsidiary, Bharti Telemedia. This prospective consolidation has fuelled investor interest in the telecom sector.
▪ Inox India: Shares climbed around 15% intraday after the company became India’s first cryogenic equipment manufacturer to receive the prestigious IATF 16949 certification. Awarded following a comprehensive audit of its Kalol facility in Gujarat, the recognition has bolstered investor confidence.
▪ UltraTech Cement: Shares dropped almost 5%, the steepest decline in three years-after the company announced a ₹1,800-crore capital expenditure to enter the wires and cables segment. The strategic diversification moves unsettled investors amid volatile market conditions.
Global News
▪ The S&P 500 rose 0.5%, the Nasdaq gained 0.8%, and the Dow Jones added around 200 points on Thursday as traders digested corporate earnings from Nvidia, key economic data, and fresh tariff developments.
▪ European markets were broadly lower Thursday after U.S. President Donald Trump on Wednesday once again threatened to impose 25% tariffs on imports from the European Union.
▪ Asia-Pacific markets were mixed Thursday, after key Wall Street indexes rose amid fresh tariff threats from U.S. President Donald Trump.
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