Gold prices increased today as the US dollar eased and tensions in the Middle East heightened safe-haven demand. On the MCX, gold futures for April 2024 opened higher at ₹62,155/10g and touched an intraday high of ₹62,169/10g, while spot gold is trading flat at $2,025/oz. Silver prices also saw buying interest with an opening of ₹70,724/kg on MCX and an intraday high of ₹70.

On February 22, benchmark Indian indices opened flat and closed in the red with Nifty forming a bearish engulfing pattern. Experts predict support in the 22000-22030 range, but a potential correction may occur if it falls below 21980. Call writing was seen at 22100-22200 strikes and put writing at 22000-21900 strikes, suggesting a trading range of 21900-22300.

In the December quarter of 2023, VJTF Eduservices reported a significant decrease in net sales and net profit compared to the same period in 2022. However, EBITDA increased slightly and their stock price has seen impressive returns over the past 6 and 12 months, closing at 131.49 on February 21, 2024. Their balance sheet also shows an increase in expenditures, particularly in employee costs.

Nelco, a leading VSAT provider in India and part of the Tata Group, saw an 8% rise in stock price along with increased volumes. This marks the end of a two-day decline after a sharp reversal in March 2023. The company posted improved YoY financials in Q3FY24, contributing to the positive market sentiment towards Tata Group stocks.

Reported Consolidated quarterly numbers for Gammon India are: Net Sales at Rs 15.33 crore in December 2023 up 104.13% from Rs. 7.51 crore in December 2022. Quarterly Net Loss at Rs. 169.61 crore in December 2023 up 8.68% from Rs. 185.74 crore in December 2022. EBITDA stands at Rs. 120.29 crore in December 2023 down 41.68% from Rs. 206.26 crore in December 2022. Gammon India shares closed at 1.65.

On Thursday, Japan's Nikkei share average hit an all-time high thanks to strong forecasts from U.S. chip designer Nvidia. However, the global market was still cautious due to struggles in Chinese stock markets and concerns over interest rate cuts from the U.S. Federal Reserve. The dollar was also down and oil prices rose slightly.

Despite negative news, Zee Entertainment stock rallied 2.67% after Bloomberg reported that Sebi found no evidence of fund diversion by promoters. Analysts have downgraded the stock due to concerns about its financial position, corporate governance and litigation outcomes. The proposed merger with Sony had led to a valuation increase, but the deal being terminated caused multiple de-ratings.

India Inc's performance in the December quarter met or exceeded market expectations, except for a few companies in the chemicals, agrochemicals, pharmaceutical, and real estate sectors. These outlier companies saw significant decreases in both revenue and profits due to various external factors such as inventory liquidation, aggressive pricing by China, destocking, and pricing pressure.

Based on recommendations from various sources, Jefferies has an underperform rating and a target price of Rs 2,500 for Asian Paints due to increased competition from Grasim. Citigroup retains Maruti Suzuki as its top pick in the auto sector with a target price of Rs 14,200, citing expected volume uptick and strong quarterly results. Goldman Sachs maintains a neutral rating on Paytm.

Political pressure and a weak economy are pushing for the Bank of Thailand to cut interest rates sooner rather than later, according to money managers. The central bank may cut rates at its next meeting in April due to deflationary conditions, which could lead to more foreign investment in Thai stocks. Some worry about political interference in monetary policy.

Paytm's stock rally was halted after Goldman Sachs slashed its target price due to lower revenue and EBITDA estimates. Analysts remain cautious and suggest not investing in the company until regulatory concerns are resolved. Paytm's partnerships with Axis Bank and PPBL are expected to provide stability but there could be risks depending on user/merchant retention.

Brigade Enterprises' share price rose by 5% after announcing plans to develop a 2.5 million square feet residential project in Chennai through a joint venture. The company aims to tap into the growing real estate market in the city, which is attracting companies from various industries. Brigade also plans to build a resort with 250 rooms in Chennai and increase its total room count by another 1200

"Sensex, Nifty end lower amid weak global cues, profit booking and cautious trade ahead of Fed minutes. Nifty touches another record high but ends session in red, dragged by intense sell-off in heavyweights such as HDFC twins, Reliance Industries and Infosys. Bulls face resistance at higher levels, investors urged to have a 'Buy on dips' approach. Godrej Consumer Products and HDFC Bank.

The Winklevoss twins, founders of Gemini crypto exchange, donated $4.9 million to Fairshake super PAC to support pro-crypto candidates in the US elections. Other notable donors include Kraken, Electric Capital, and Andreessen Horowitz. This funding will help Fairshake push for a crypto-friendly regulatory environment and secure the US as a hub for innovation.

Political pressure and a weak economy are pushing for the Bank of Thailand to cut interest rates sooner rather than later, according to money managers. The central bank may cut rates at its next meeting in April due to deflationary conditions, which could lead to more foreign investment in Thai stocks. Some worry about political interference in monetary policy.