SGX Nifty indicates a negative opening for Indian markets, Delhivery, Eicher Motors in news today and more

Opening Bell:

SGX Nifty is down by 65.5 points in the early morning trade, indicating a negative opening for Indian stock market.

Asia-Pacific markets were largely higher despite US treasury bond yields briefly topping 4 percent overnight on Wall Street. The Japanese Nikkei is down by 0.24 percent. Hong Kong’s Hang Seng is down by 0.82 percent and South Korea’s Kospi is up by 0.24 percent in early morning deals.

The S&P 500 and Nasdaq fell for a second straight session on Wednesday as Treasury yields jumped after manufacturing data indicated inflation is likely to remain stubbornly high, while comments from Federal Reserve policymakers supported a hawkish policy stance. The S&P 500 lost 0.47 percent and Nasdaq Composite dropped by 0.66 percent respectively.

Stocks News:

?Foreign investor SoftBank, has offloaded 3.8% stake in logistics company Delhivery. SVF, a subsidiary of Softbank has sold 2.8 crore shares of the company via open market transactions, at an average price of Rs 340.80 per share.

?Eicher Motors brand Royal Enfield has sold 71,544 motorcycles in February 2023, growing 21% over 59,160 motorcycles sold in same period last year. International business recorded a 1% YoY growth by selling 7,108 motorcycles. The growth was largely driven by motorcycles with engine capacity up to 350cc segment that reported 31% YoY rise

?TATA Motors has partnered with the State Bank of India (SBI) to offer “easy loan structured schemes” for the purchase of Tata Ace EV, its all-new commercial electric vehicle.

?WIPRO has launched 5G Def-i platform. The said platform will empower businesses to seamlessly transform their infrastructure, networks and services.

?Foreign institutional investors (FII) sold shares worth Rs 424.88 crore, whereas domestic institutional investors (DII) bought shares worth Rs 1,498.66 crore on March 1, the National Stock Exchange’s provisional data showed.

 Domestic and International Events

• Oil prices settled up slightly on Wednesday as signs of ample supply, including growing US crude inventories, offset growing hopes for higher demand after a jump in manufacturing in top crude importer China.
• The government collected Rs 1.50 lakh crore as Goods and Services Tax (GST) in February, the finance ministry said on March 1. The GST collections for February fell from Rs 1.58 lakh crore in January, which were the second-highest monthly collection ever under the indirect tax regime which was introduced in July 2017.
• The National Stock Exchange on Wednesday said it has received approval from markets regulator Sebi to launch the rupee-denominated NYMEX WTI crude oil and natural gas futures contracts in its commodity derivatives segment. The launch date for these contracts will be announced soon, NSE said in a release.
• The gross non-performing assets (NPA) ratio of banks is expected to improve to 3.3 percent in next financial year from 4.2 percent in FY23, India Ratings said. A loan turns to NPA if there are no repayments of interest or principal for a period of 90 days.

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