Latest Stock Market News

The Canadian dollar and Mexican peso reached monthly lows as trade war fears heightened following U.S. President Trump s announcement of 25% tariffs on goods from these countries. Corporate leaders and economists warn of setbacks to the North American economy. Financial markets are bracing for inflation and potential rate hikes.

Benchmark BSE Sensex and Nifty declined amidst selling in key stocks like HDFC Bank and Reliance Industries. RIL fell 2%, Polycab gained 3.4%, and Pfizer India dropped 9%. Analysts suggest monitoring Polycab around Rs 4,500, RIL requiring a move above Rs 1,200 to signal recovery, and Angel One demonstrating persistent selling pressure with a support around Rs 1,750.

NAPS Global India is set to launch its IPO, offering 13.2 lakh fresh equity shares at Rs 90 each from February 29 to March 6. Aiming to raise Rs 12 crore for working capital and general corporate purposes, the company will list its shares on the BSE SME platform.

Nukleus Office Solutions launched its IPO last week with a lukewarm market response, but shares will be listed on the BSE SME platform soon. The funds raised will be used for expansion, technology development, and brand visibility. The company provides flexible workspaces and managed offices, with substantial revenue growth recently.

ASK Automotive has signed a technical assistance and license agreement with Japan s KYSK to manufacture high-pressure die-cast alloy wheels for two-wheelers in India. This collaboration aims to enhance ASK Automotive s manufacturing capabilities and product quality, with shares expected to rise significantly with a target price of Rs 481.

Jigar Mistry has adjusted his portfolio by shifting from capex-heavy stocks to consumption and BFSI sectors, favoring large caps over small and midcaps. This strategic change is driven by government fiscal policies and attractive valuations in BFSI, emphasizing stable earnings and strong balance sheets.

Wells Fargo has sold ITC shares worth Rs 106 crore through an open market transaction, influencing ITC s stock focus. Despite a drop in consolidated net profit for the December quarter, ITC s revenue from operations rose by 9.05% year-over-year.

Christopher Wood, Global Head-Equity Strategy at Jefferies, maintains that despite recent corrections, India remains the best structural story in Asia and globally. He cites India s post-correction potential and the likelihood of India and China outperforming due to recent market strengths and potential for growth driven by easing policies if the dollar weakens.

Ashish Gupta of Axis Mutual Fund sees investment potential in defence and PSU sectors despite market corrections. He finds defence valuations attractive but emphasizes the importance of order book to revenue conversion. Gupta prefers private banks over PSU banks due to stronger market positioning.

Ethos added five new stores in the December quarter and 13 in the first nine months of FY25, taking the total count to 73 stores. The company aims to open six more boutiques by the end of FY25. It has signed six exclusive brand partnerships since April, with more collaborations in the pipeline.