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ASIA

Asia-Pacific markets mostly declined on Thursday as investors considered U.S. President Donald Trump's proposed 25% tariffs on automobile, semiconductor, and pharmaceutical imports. Gift Nifty suggests a negative opening for Indian markets.

US & EUROPE

U.S. stocks closed slightly higher on Wednesday, with the S&P 500 achieving its second consecutive all-time closing high. Investors analyzed the minutes from the Federal Reserve's January policy meeting and considered President Donald Trump's tariff proposals. Meanwhile, European markets ended lower as investors evaluated various earnings reports and a higher-than-expected U.K. inflation rate.

COMMODITIES

Oil prices remained close to a one-week high on Wednesday due to concerns about supply disruptions in Russia and the U.S. The market is awaiting clarity on sanctions as Washington attempts to negotiate an end to the war in Ukraine. Meanwhile, gold prices encountered resistance near $2950 on Wednesday ahead of the U.S. jobs data

* Events today: US API/ EIA crude oil stock change, China Loan Prime rate 1Y/5Y, US initial & continuing jobless claims, Fed Golsbee speech.

* Ex-date: Indian Railway Catering and Tourism Corporation, Procter & Gamble Hygiene & Health Care, AVT Natural Products, Esab India, Shivalik Bimetal Controls (Dividend)

* Waaree Energies has received an order for the supply of solar modules for 362.5 MWp from Khaba Renewable Energy, a subsidiary of Engie India.

* The NSE has announced that futures and options contracts on IREDA and Tata Technologies will be available for trading, effective February 28.

Nifty Outlook

As feared, the upswings got turned lower from the 23060 vicinity, the level assumed to provide the first line of resistance yesterday. This renders the 22800 region ever more vulnerable, but, yesterday’s close does not leave us with signs of an outright collapse. We favour an ascent before such downside break unfolds, for the sake of momentum. While this prompts us to retain 23150 as the upside objective we have no intention of taking our eyes off the prospects of an imminent drop aiming 21800-21300, unless 23300 is conquered.

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