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Market Summary

The market is expected to open in the green on February 16 as trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 55 points. In the previous session, the BSE Sensex jumped 243 points to settle at 61,275, while the Nifty50 advanced 86 points to close at 18,016.

The S&P 500 ended higher on Wednesday after stronger-than-expected retail sales data offered evidence of resilience in the U.S. economy, but gains were capped as investors worried about more interest rate hikes by Federal Reserve in the months ahead.

The S&P 500 climbed 0.28 percent to end the session at 4,147.61 points. The Nasdaq gained 0.92 percent to 12,070.59 points, while Dow Jones Industrial Average rose 0.11 percent to 34,128.05 points.

The Nifty futures were trading around 18,075 levels on the Singaporean exchange

Results on February 16:Nestle India and Schaeffler India .

Stocks under F&O ban on NSE:BHEL, Punjab National Bank, Ambuja Cements and Indiabulls Housing Finance

Macro News

January trade deficit at one-year low of $17.75 billion but exports also down 6.58%: India's trade deficit in January sank to its lowest in a year at $17.75 billion but exports, too, contracted 6.58 percent during the month, hit by a slump in global demand, data released by the government on February 15 showed.The merchandise exports came down to $32.91 billion in January from $35.23 billion in the year-ago period. Merchandise imports, too, slipped 3.63 percent, the second straight month of decline, to $50.66 billion. In January 2022, they stood at $52.57 billion. During the April-January 2022-23 period, exports rose 8.51 percent to $369.25 billion, while imports increased 21.89 percent to $602.20 billion, the data showed.

US manufacturing output surges in January: Production at US factories rebounded in January, but output in the prior month was much weaker than initially thought amid higher borrowing costs that are hurting the manufacturing sector. Manufacturing output increased 1.0 percent last month, the Federal Reserve said on Wednesday. Data for December was revised down to show production at factories declining 1.8% instead of the previously reported 1.3 percent. Economists polled by Reuters had forecast factory production would increase 0.8 percent.

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