Stock market updates on February 29, 2024: Following yesterday’s sharp sell-off, the mood on Dalal Street on Thursday is likely to remain nervouss. The monthy F&O expiry and expectations on Q3 GDP print could weigh on the market sentiment.
Today is also the last trading day for the month, the NSE Nifty is seen holding a gain of 1 per cent as of February 28.
At 08:00 am, Gift Nifty futures quoted above 21,961, suggesting a positive start of 40-odd points on the Nifty 50.
Stocks in focus
Bajaj Auto: Today is the record date for Bajaj Auto’s share buy back.
Shriram Finance, UPL: NBFC major Shriram Finance to replace agro chemicals firm UPL in the benchmark Nifty 50 index w.e.f. March 28.
Global cues
Asian shares were mostly in red barring Straits Times which advanced 0.4 per cent. Kospi shed 0.7 per cent, Nikkei dipped 0.5 per cent and Taiwan was down 0.2 per cent.
On Wednesday, the US market ended slightly lower a day ahead of a key inflation reading that could heavily influence expectations on timing of rate cuts. Dow and the S&P 500 were marginally in red, while Nasdaq slipped 0.6 per cent.
The 10-year US Treasury bond yield hovered around 4.29 per cent. Whereas, Brent Crude Oil futures consolidated around $82 per barrel. Meanwhile, Bitcoin zoomed past the $60,000-mark for the first time since November 2021.
