NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on February 25

The Indian equity benchmarks are set to open higher on Wednesday, February 25, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad advanced 62 points to 25,662 amid strong cues from global markets.

The Indian equity benchmarks ended sharply lower on Tuesday, February 24, as surging crude oil price in international markets and selloff in information technology (IT) shares dented investor sentiment towards equities.

The SENSEX fell as much as 1,360 points and NIFTY50 index touched an intraday low of 25,327 led by losses in Larsen & Toubro, HDFC Bank, Infosys, Bharti Airtel, Tata Consultancy Services, Eternal and ICICI Bank.

Tuesday's selloff was so intense that investors' wealth worth ₹2.18 lakh crore was wiped out in a single session.

The SENSEX ended 1,069 points lower at 82,226 and NIFTY50 index fell 288 points to close at 25,425.

Asian markets

Asian markets were trading higher taking cues from strong closing of US markets overnight. Japan's Nikkei rose 1.44% to a fresh all-time high and South Korea's KOSPI advanced 2.14% to hit a record high powered by gains in chip makers.

China's Shanghai Composite index advanced 0.84% and Hong Kong's Hang Seng rose 0.5%.

Wall Street update

US stocks rebounded on Tuesday as investors reassessed the impact of AI on existing services. The Dow Jones Industrial Average rose 0.76%, S&P 500 index advanced 0.77% and tech heavy Nasdaq climbed 1.04%.

Advanced Micro Devices helped lead the market and rallied 8.8% after announcing a multiyear deal where it will supply chips to Meta Platforms to help power its AI ambitions. Under the agreement, Meta also got the right to buy up to 160 million shares of AMD stock for 1 cent each, depending in part on how many chips Meta ultimately buys, news agency AP reported.

FII/DII activity

Foreign institutional investors sold shares worth ₹102.53 crore on Tuesday while domestic institutional investors bought shares worth ₹3,161 crore, data from the National Stock Exchange showed.

The FIIs have so far this month bought shares worth ₹21,064 crore, according to the data from National Securities Depository Limited (NSDL).

Stocks to watch

The issue is scheduled for February 26 on the Electronic Bidding Platform of the National Stock Exchange, Canara Bank said in a statement.

Canara Bank is set to raise up to ₹5,000 crore through Basel III-compliant Tier 2 bonds, it said.

Paytm Silver enables disciplined savings in small amounts, supporting gradual accumulation over time while offering flexibility for festivals, milestones, and future financial needs, the company said in a statement.

The company has witnessed strong adoption in Paytm Gold, it said, adding that, building on this momentum, the introduction of silver provides another asset for long-term accumulation.

The OFS will open on Wednesday for institutional investors, and on Thursday for retail investors.

The government is selling over 26.13 crore shares or a 2% stake in IRFC with a green shoe option of an equal number, IRFC said in a regulatory filing.

Sale of over 52.26 crore shares or 4% stake at ₹104 a share would fetch around ₹5,400 crore to the exchequer.

Schaeffler India had delivered a standalone net profit of ₹249.33 crore in the fourth quarter of 2024, according to a regulatory filing.

Revenue from operations in the quarter under review stood at ₹2,643 crore, up 27% from ₹2,082.31 crore registered in Q4 CY24, the company said in the filing.

Schaeffler India follows the calendar year (January-December) for financial reporting.

The Hyderabad-based drug maker had commenced a detailed investigation into an anonymous complaint about allegations of improper payments to healthcare professionals in Ukraine and potentially in other countries, which could constitute violation of US anti-corruption laws, including the US. Foreign Corrupt Practices Act.

The transmission & distribution (T&D) business has secured orders for 220/132 kV transmission lines, substations and EHV cabling (Composite order) in India; additional orders for a 400 kV transmission line in the international market and supply of towers, hardware and poles in the Americas, a company statement said.

The cables and conductors business has secured orders for the supply of various types of cables and conductors in India and the overseas market.

Trade setup

On the technical charts, the NIFTY50 managed to close above 25,400 levels, which also holds a crucial trendline support from the budget day high. The RSI levels indicate a mildly bearish tone for Wednesday. Experts believe the index should close above the 25,500 levels on Wednesday to revive the bullish momentum.

On the options data front, the initial build-up for the 02nd March weekly expiry suggests that the 25,500 calls hold the highest open interest, indicating a strong resistance. On the flipside, the 25,000 puts hold the highest open interest, indicating strong support.