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Indian benchmark indices closed nearly unchanged on Thursday, fluctuating between modest gains and flat territory as investors weighed easing domestic inflation against concerns over a hotter-than-expected U.S. inflation reading and escalating trade tensions, which kept gains in check.

European shares jumped to a record high on Thursday, led by food and beverages stocks on Nestle s strong earnings, amid broader market optimism over the U.S. plans to begin talks with Russia to end the nearly three-year-long war in Ukraine.

Japan s Nikkei share average ended more than 1% higher on Thursday as a weak yen boosted appetite, masking losses of heavyweight SoftBank Group on its surprise quarterly loss.

Ajax Engineering s IPO was subscribed over 6.4 times, with the share allotment process being finalized today. The GMP on allotment day stands at Rs 13, reflecting a 2% premium over the issue price. The listing is scheduled for February 17.

Four stocks from the Nifty 200 index hit fresh 52-week highs

Kotak Mahindra Bank shares jumped 2.5% to Rs 1,992 on Thursday after the RBI removed restrictions on issuing new credit cards and opening digital accounts.

Adani Green Energy shares rose 3% to Rs 946 in Thursday’s intraday trade after the company announced its decision to withdraw from two proposed wind power projects in Sri Lanka. The move follows the Sri Lankan government s request for lower tariffs, easing concerns over the projects viability. The wind power projects were estimated to cost $1 billion.

I would not be surprised if largecap stocks give moves like 5% to 10% over the next 10-15 trading sessions where we see Nifty rallying plus stocks participating in a big way. So, very short-term view is of a bounce back. The bigger picture is not clear yet. So, it is best to be a trader at this point in time.

KV Subramanian of the IMF highlights India s use of fewer non-tariff barriers compared to other nations, suggesting a broader trade discussion beyond tariffs could benefit India. He underscores the dollar s lasting dominance in global trade. The India-US partnership is seen as crucial, offering significant returns to American investors, which aligns with President Trump s economic focus.

Prudential Plc has hired Citigroup to explore an IPO for ICICI Prudential Asset Management, potentially raising $1 billion. The listing would involve a partial divestment of Prudential’s stake, while ICICI Bank plans to retain its majority share. India s IPO market remains strong, with $20 billion raised in 2023.