Indices at previous closing
Nifty50: 16,793 ▲135 (+0.8%)
Sensex: 56,247 ▲388 (+0.7%)
Nifty Bank: 36,205 ▼225 (-0.6%)
For more updates on F&O, click here.
India’s GDP growth slows down
According to government data, the Indian economy grew by 5.4% in the December quarter. This is slower than the growth in the first two quarters of FY22.
Weakness in manufacturing and construction sectors along with slowing investment activity led to the subdued GDP growth in Q3FY22. This comes at a time when the Indian economy is facing the threat of rising inflation, led by high oil prices fueled by the Russia-Ukraine conflict.
Bharti Airtel gains revenue market share
According to reports, Bharti Airtel gained more market share than its rivals—Reliance Jio and Vodafone—in terms of revenue in the December quarter. It gained 90 bps sequentially, taking its market share to 35.4%.
Experts observed that the company is steadily gaining market share and its adjusted gross revenue has been higher than existing players. They added that the decision of telecom operators to raise tariffs will lead to further growth in the sector’s revenue in Q4FY22.
Oil prices continue to rise
The prices of oil rose on Tuesday over concerns that the Russia-Ukraine conflict will disrupt the supply. The concerns of supply disruption persisted despite talks between the US and its allies about the coordinated global release of crude oil stock to mitigate any disruption.
Analysts said that the financial and energy sanctions against Russia will continue to spark the energy crisis and oil will remain over the $100 per barrel-mark in the near term. They also warned that oil prices could rise further if the conflict snowballs.
Sectoral indices (February 28)
| Top gainers | Top losers |
| Nifty Metal ▲ 4.9% | Nifty Auto ▼ 0.6% |
| Nifty IT ▲ 1.1% | Nifty Bank ▼ 0.6% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 1.1% |
| Nikkei 225 (Japan) | ▼ 1.8% |
| Hang Seng (Hong Kong) | ▼ 0.8% |
| SSE Composite (China) | ▼ 0.4% |
| Dow Jones (US) (March 1) | ▼ 1.7% |
| NYSE (US) (March 1) | ▼ 1.5% |
| Nasdaq (US) (March 1) | ▼ 1.5% |
| S&P 500 (US) (March 1) | ▼ 1.5% |
Fact of the day
US-based tech giant Apple's first logo, designed in 1976, featured Sir Isaac Newton sitting under a tree.
Source: InShorts
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