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Market Summary

The market is expected to open in the red as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 14 points. The BSE Sensex soared 600 points to 61,032, while the Nifty50 jumped 159 points to 17,930 and formed a bullish candle on the daily charts, making a higher-high-higher-low formation

The S&P 500 declined 0.03 percent to end at 4,136.17 points. The Nasdaq gained 0.57 percent at 11,960.15 points, while Dow Jones Industrial Average declined 0.46 percent to 34,089.40 points.

The Nikkei 225 opened the day 0.36 percent higher, while the Topix gained 0.28 percent in its first hour of trading. In Australia, the S&P/ASX 200 was trading 0.62 percent lower, as investors digested the US inflation data.

Results on February 15:

JBF Industries, Crazy Infotech, Velox Industries, Vision Cinemas, and Vantage Knowledge Academy will be in focus ahead of their quarterly earnings on February 15.

Stocks under F&O ban on NSE:

BHEL, Punjab National Bank, Ambuja Cements and Indiabulls Housing Finance on its F&O ban list for February 15.

Macro News

US inflation rose 0.5% in January, up 6.4% from a year ago:

The US Bureau of Labor Statistics reported on Friday that the Consumer Price Index (CPI) rose by 6.4 percent from January 2022, slightly higher than the estimated rate of 6.3 percent. Inflation in the US continued to surge in January, with the latest data showing higher-than-expected increases both year-on-year and monthon-month. The US Bureau of Labor Statistics reported on Friday that the Consumer Price Index (CPI) rose by 6.4 percent from January 2022, slightly higher than the estimated rate of 6.3 percent. On a month-on-month basis, the CPI increased by 0.5 percent, surpassing the projected rate of 0.4 percent. The Core Inflation Rate also rose by 0.4 percent, exceeding the expected 0.3 percent increase.

WPI inflation eases to 2-year low of 4.73% in January; food items turned expensive:

The wholesale price-based inflation declined to 2-year low of 4.73 per cent in January on easing prices of manufactured items, fuel and power, even though food articles turned expensive. This is the eight straight month of decline in the rate of wholesale price-index (WPI) based inflation. It was 4.95 per cent in December 2022 and 13.68 per cent in January last year.The decline in the rate of price rise was mainly due to a favourable base effect, economists said, adding that going forward, softening commodity prices would help ease WPI inflation further.

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