Previous close (25 January 2021)
Nifty50: 15,097 ▲ 115 (+0.7%)
Sensex: 51,039 ▲ 257 (+0.5%)
Nifty Bank: 36,549 ▲ 96 (+0.2%)
In the news
Kalrock-Jalan consortium to revive Jet
- The consortium will invest ₹1,375 crore over the next two years to revive Jet Airways, reports suggest. The amount will be used for start-up expenses and paying creditor dues. Further, the group says that it will pay ₹1,183 crore to lenders over the next five years.
- Operations are likely to commence with 5-7 new aircraft. The Jet Airways stock gained 4.9% yesterday and has risen about 68% in February.
Bank of Baroda issues stake sale
- The public sector bank aims to sell stake worth ₹4,500 crore to institutional investors at ₹85.9 per share, a 4.5% discount to Thursday’s closing price.
- The proceeds from the fundraise will be used to meet Basel III norms and also grow business.
Aptech evaluates institutional business exit
- The training services company has announced that it will evaluate a potential exit from its institutional business and would focus on its retail business.
- Its institutional business contributes about 30% of total revenues (as on FY20); however, it is loss-making. Shares of Aptech ended flat yesterday, but have gained 27% so far this month.
Dow slides as bond yields rise
- Equity markets typically have an inverse relationship with bond yields. This is because if bond yields rise, a yield-seeking investor could divert funds to bonds since they provide equal or better returns and have virtually no risk.
- The 10-year US Treasury bond yields rose to 1.52% yesterday, a spike of 14bps (or 10%) in a day. The Dow Jones slid 1.7% and the Nasdaq composite suffered a bigger drop of 3.5% as tech-majors such as Apple, Google, Amazon and Facebook each dropped over 3%.
Events of the week
- Friday: GDP (India)
Sectoral indices (Previous closing)
| Top gainers | Top losers |
| Nifty Metal ▲ 3.9% | Nifty FMCG ▼ 0.2% |
| Nifty Realty ▲ 1.6% | Nifty Fin Serv ▼ 0.1% |
Global markets (at 8:30 am today)
| Indices | Today's movement |
| Nikkei 225 (Japan) | ▼ 2.3% |
| Hang Seng (Hong Kong) | ▼ 2.2% |
| SSE Composite (China) | ▼ 1.4% |
| Dow Jones (US) (23 Feb) | ▼ 1.7% |
Fact of the day
MRF, the leading tyre manufacturer, has the highest share price in the Indian stock market. As of the last closing, it traded at ₹87,622 per share.
Source: NSE
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