Indian Stock Market Outlook

The Indian stock market is expected to open lower on Tuesday, February 24, driven by weakness in global markets. Trends in Gift Nifty point to a subdued start, with the index trading around 25,607 - nearly 98 points below the previous close of Nifty futures.

Market Analysis

The Indian equity market is likely to open on a cautious note, tracking subdued trends across Asian markets and an overnight sell-off in US equities. The weakness stems from renewed tariff-related uncertainty, coupled with lingering concerns around AI-led disruptions affecting global technology stocks. Investor sentiment remains guarded following President Donald Trump's rollout of a 10-15% global tariff framework, effective today.

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Recent Market Performance

Domestic equities ended on a positive note on Monday, February 23, with the Nifty 50 closing above the 25,700 level. The Sensex advanced 479.95 points, or 0.58%, to settle at 83,294.66, while the Nifty 50 gained 141.75 points, or 0.55%, to end at 25,713.00.

Stocks to Watch

The following stocks are likely to remain in focus on Tuesday, February 24:

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• Bharti Airtel: Plans to invest ₹20,000 crore in its non-banking financial arm, Airtel Money Limited, over the coming years to develop a large-scale digital lending platform and widen access to formal credit across India.
• Bharat Petroleum Corp: Received an excise demand order amounting to ₹1,816.65 crore from the Commissioner of Central Tax and Central Excise in Kochi.
• Lupin: Secured approval from the European Commission for its biosimilar ranibizumab, Ranluspec, available in both vial and pre-filled syringe formats.
• Waaree Energies: Secured an order to supply 500 MW of solar modules from a well-known domestic solar power developer and independent power producer.
• One Mobikwik Systems: Subsidiary, Mobikwik Securities Broking, obtained approval from the Bombay Stock Exchange (BSE) to begin its stockbroking operations.
• Chalet Hotels: Approved plans to develop a proposed 330-room luxury hotel, along with nearly 36,255 sq ft of commercial and retail space, in Madhapur, Hyderabad, with an estimated investment of about ₹632.8 crore.
• Pace Digitek: Key subsidiary, Lineage Power Private Ltd, secured a purchase order valued at ₹1,587.10 million (inclusive of GST) from Reliance Industries for the supply of lithium-ion battery packs.
• Hindustan Zinc: Entered into a strategic Memorandum of Understanding (MoU) with Tripura Group to accelerate the development of a Zinc Park in Rajasthan.
• Blue Cloud Softech Solutions: Secured board approval for a definitive agreement framework to acquire a 100% stake in Global Impex Inc from ConnectM Technology Solutions, Inc, a US-based modern energy economy firm.
• Samvardhana Motherson: Commenced operations at a new manufacturing facility in Sanand to produce exterior lighting systems for the automotive sector.