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ASIA

Asia-Pacific markets are trading slightly positive on Thursday following a rise in key Wall Street indexes, which occurred amidst new tariff threats from U.S. President Donald Trump. Meanwhile, Gift Nifty suggests a slightly positive opening for Indian markets.

US & EUROPE

U.S. stocks lost their early momentum and ended mixed on Wednesday, influenced by falling bond yields and unclear statements from Donald Trump regarding tariffs on Canada and Mexico, along with more disappointing economic data. Meanwhile, European markets saw gains as investors focused on a series of corporate earnings reports from the region.

COMMODITIES

Oil prices dropped by approximately 2% to a two-month low on Tuesday due to weak economic data from the U.S. and Germany, which heightened concerns about reduced energy demand. Additionally, indications from several countries suggested an increase in oil production. Gold prices declined on Tuesday as government bond prices rose, while silver and platinum-group metals also fell. Global stock markets continued their decline amid deteriorating economic data.

Nvidia results underwhelm global markets; US GDP data eyed.

* Events today: UK car production, US GDP growth rate/ initial & continuing jobless claims.

* Earnings: KSB, Sanofi India, and Schaeffler India

* Waaree Energies has received an order for the supply of solar modules for 410 MWp from ABREL EPC, a wholly-owned subsidiary of Aditya Birla Renewables.

* Varun Beverages has extended the acquisition of SBC Beverages Ghana, up to March 31, from the previously intimated February 28.

* Mastek has secured multiple contracts worth $85 million from a UK public service department, spread over a period of 2 years.

* Mahindra EPC Irrigation has received contracts worth Rs 11.79 crore for the supply of microirrigation systems from the Community Micro Irrigation Project.

Nifty Outlook

Tuesday’s bounce back was turned lower from the 22620 vicinity itself, pointing towards the feebleness of the recovery attempt. A parallel consolidation in the last three days does show signs of giving away on the downside. However, RSI having reached 30 just the other day, we are in favour of a better recovery attempt that should try and penetrate the 22620-730 region. But as maintained all this week, we will wait for 22950 to be conquered, as a confirmation of strength. Downside marker for the day may be placed at 22530, with deeper support seen at 22300.

All 'Buy' recommendations have a holding period of 5 trading days.

All 'Sell' recommendations are for the recommended day.

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