Indices at previous closing
Nifty50: 17,092 ▼114 (-0.6%)
Sensex: 57,300 ▼382 (-0.6%)
Nifty Bank: 37,371 ▼313 (-0.8%)
For more updates on F&O, click here.
Oil soars as tensions escalate
The prices of oil have surged to a seven-year high as the Russia-Ukraine conflict continues to escalate. Russia has directed its troops to move into two breakaway regions in Ukraine.
Analysts believe that these recent developments have led to a sharp rise in oil price to the $100 per barrel mark. It is important to note here that even before the escalation of the Russia-Ukraine conflict, oil prices were on the rise due to tight supply and sharp demand recovery.
Snowman Logistics focuses on QSR category
The temperature-controlled logistics service provider has said that it is setting up two facilities in India, which will be focused on high-yield categories like quick service restaurants (QSR), ice cream and seafood.
Around 60% to 70% of the capacity will be occupied by these categories, according to the management. It added that the company is witnessing demand in the QSR and ice cream industries. Meanwhile, shares of Snowman Logistics were down 4.5% yesterday.
LIC IPO to go ahead: FM
According to the Finance Minister Nirmala Sitharaman, the IPO of state-owned insurance behemoth will go ahead despite the rising market volatility. Last week, reports claimed that the LIC IPO is expected to be launched on 11 March 2022.
She added that there is buzz in the market about the LIC’s public issue. The government is looking to offload 5% stake in the LIC for around ₹65,000 crore.
Sectoral indices (February 22)
| Top gainers | Top losers |
| NA | Nifty Media
▼ 3.3% |
| NA | Nifty Realty
▼ 2.9% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.6% |
| Nikkei 225 (Japan) | ▼ 1.7% |
| Hang Seng (Hong Kong) | ▲ 0.4% |
| SSE Composite (China) | ▲ 0.2% |
| Dow Jones (US) (February 22) | ▼ 1.4% |
| NYSE (US) (February 22) | ▼ 1.0% |
| Nasdaq (US) (February 22) | ▼ 1.2% |
| S&P 500 (US) (February 22) | ▼ 1.0% |
Fact of the day
The US-based retail chain Family Dollar shut 400 stores after rat infestation at its warehouse.
Source: Washington Post
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