Ketan Parekh Faces Fresh SEBI Ban for Stock Market Misconduct

Top Losers:

• IndusInd Bank: Declined by 2.26%, closing at ₹1,024.20.

• Mahindra & Mahindra (M&M): Declined by 1.48%, closing at ₹2,788.40.

• Hindustan Unilever Ltd (HUL): Declined by 1.42%, closing at ₹2,295.80.

• UltraTech Cement: Declined by 1.38%, closing at ₹11,323.25.

• Tata Consultancy Services (TCS): Declined by 0.87%, closing at ₹3,869.45.

• ITC Ltd: Declined by 0.81%, closing at ₹405.20.

Top Gainer : -

NTPC Ltd: Gained by 2.93%, closing at ₹311.20.

Tech Mahindra Ltd: Gained by 2.41%, closing at ₹1,705.00.

Wipro Ltd: Gained by 2.24%, closing at ₹312.20.

Power Grid Corporation: Gained by 1.42%, closing at ₹266.95.

Oil & Natural Gas Corporation: Gained by 1.26%, closing at ₹236.60.

In January 2025, the mutual fund industry saw a worrying trend: more Systematic Investment Plans (SIPs) were discontinued than initiated. Data reveals that while 1.2 million new SIPs began, 1.5 million were halted, leading to a net decline of 300,000 SIPs. This shift suggests that investors might be rethinking their investment strategies, possibly due to market volatility or changing financial priorities. Experts advise investors to assess their financial goals and risk tolerance before making decisions about their SIPs.

On Tuesday, February 18, Indian equity markets experienced a volatile session, closing with minor losses due to weak corporate earnings and continuous foreign fund withdrawals.

The S&P BSE SENSEX dipped by 29.47 points (0.04%) to 75,987.39, while the NSE NIFTY50 declined by 14.20 points (0.06%) to 22,945.30. Notably, 787 stocks reached their 52-week lows, reflecting widespread market pressure.

Elon Musk's AI company, xAI, has introduced Grok 3, a new chatbot Musk describes as "scary smart." Grok 3 boasts ten times more computing power than its predecessor, enhancing its ability to tackle complex tasks by breaking them down and verifying facts before responding.

Early tests indicate Grok 3 outperforms AI models from OpenAI, Google, and DeepSeek. It offers two reasoning modes: "Think" for displaying its thought process and "Big Brain" for more demanding tasks.

Zomato has launched Nugget, an AI-powered customer support platform, after testing it internally for three years. CEO Deepinder Goyal announced that Nugget can resolve up to 80% of queries autonomously, adapt in real time, and requires no coding skills. It handles 15 million+ interactions per month for Zomato, Blinkit, and Hyperpure. The platform also classifies complaint images, automates audits, and builds voice AI agents. Businesses using older providers can switch to Nugget for free. This marks the first launch from Zomato Labs, the company’s innovation arm.

Major banks like JPMorgan and HSBC are flying gold worth billions from London to New York as US gold prices hit record highs. Investors are turning to gold as a safe haven, fearing a possible trade war after President Donald Trump imposed tariffs on Europe. London gold prices are $20 lower than in the US, making it profitable to transport gold overseas. Interest rates for borrowing gold have surged, adding pressure on market players. Banks also face logistical challenges, as Comex contracts require different-sized gold bars, often needing refining before shipment.

Volkswagen India has moved the Bombay High Court to challenge a customs notice accusing the company of evading $1.4 billion in taxes over 12 years. The customs department claims Volkswagen misclassified auto parts as completely knocked-down (CKD) kits to pay lower import duties. The company argues it always imported unassembled parts, which attract a 10% duty, and denies any wrongdoing. Volkswagen warned that the tax demand could harm its business and employees. The court is set to hear the case further on Thursday, as customs officials claim they have strong evidence.

Gold prices increased slightly on Tuesday, with 24-carat gold rising ₹10 to ₹86,630 per 10 grams. The price of 22-carat gold also climbed ₹10 to ₹79,410. In Delhi, gold was priced higher at ₹86,780 for 24-carat and ₹79,560 for 22-carat. Silver prices dropped ₹100, now selling at ₹1,00,400 per kg in Mumbai, Kolkata, and Bengaluru, while Chennai recorded ₹1,07,900 per kg. Global gold prices moved up due to market concerns over US tariffs, boosting its appeal as a safe-haven asset. US spot gold rose 0.1% to $2,898.99, while silver fell 1.3% to $32.37 an ounce.

Tesla is expanding its presence in India by hiring for 13 roles, including customer support, sales, and service operations. This comes after CEO Elon Musk met with Prime Minister Narendra Modi. India recently cut import duties on high-end EVs from 110% to 70%, making the country a more attractive market for Tesla. The company has long sought lower tariffs before committing to local manufacturing. With India’s push for clean energy and a growing demand for EVs, Tesla’s hiring signals a bigger investment in the country’s electric vehicle future.

The Nifty 50 index remains under pressure, struggling to break the crucial 23,000 mark. Analysts say strong support lies at 22,700-22,800, a level that has held multiple times. If Nifty stays above this, a pullback towards 23,000-23,075 is possible. However, a decisive close above 23,150-23,200 is needed for a bullish trend. If the index fails to hold support, further dips toward 22,600-22,400 could follow. Experts advise tracking these key levels closely to gauge market direction.

Top Loser:

• Mahindra & Mahindra: Declined by 3.76%, closing at ₹2,831.95.

• Bharti Airtel: Declined by 2.42%, closing at ₹1,675.55.

• Wipro Ltd: Declined by 0.89%, closing at ₹305.35.

• Tata Consultancy Services: Declined by 0.77%, closing at ₹3,904.50.

• Infosys Ltd: Declined by 0.76%, closing at ₹1,842.30.

Top Gainer:

• Adani Enterprises: Gained by 3.30%, closing at ₹2,223.70.

• Bajaj Finserv: Gained by 2.91%, closing at ₹1,894.85.

• IndusInd Bank: Gained by 2.33%, closing at ₹1,048.25.

• Power Grid Corporation of India: Gained by 2.27%, closing at ₹263.20.

• Shriram Finance: Gained by 2.08%, closing at ₹550.35.

Bharti Airtel has successfully landed the SEA-ME-WE 6 submarine cable system in Chennai, boosting India's global data connectivity. This follows the recent landing in Mumbai on December 30, 2024. The 21,700 km-long cable connects India to Singapore and France, passing through Egypt. It integrates with Airtel's Nxtra data centers, providing seamless access for businesses. With 220 Tbps capacity, Airtel strengthens its network spanning 50 countries and 34 global cables. This investment supports India’s digital growth and enhances secure, high-speed international connectivity.

Anurag Mehrotra has been appointed as the new Managing Director of JSW MG Motor India. With nearly 30 years of experience in the automotive industry, he has held key leadership roles at Ford India and Tata Motors. Anurag will focus on expanding JSW MG Motor India’s growth, innovation, and market presence. He takes over from Rajeev Chaba, who played a major role in building MG’s brand in India. The company is now set to strengthen its presence in the New Energy Vehicle (NEV) segment with a strong future strategy.

India’s exports fell by 2.38% to $36.43 billion in January 2025, compared to $37.32 billion last year, while imports rose by 10.28% to $59.42 billion. This has resulted in a trade deficit of $22.99 billion. Despite the January decline, exports for the April-January period grew by 1.39% to $358.91 billion, while imports surged by 7.43% to $601.9 billion. The widening trade gap raises concerns over India's economic balance, as higher imports continue to outpace export growth. Policymakers may need to address trade challenges to stabilize the economy.

The stock market saw mixed trends on February 17, with Bank Nifty rebounding 600 points to close at 49,209. IndusInd Bank led the gains with a 2% rise, followed by HDFC Bank (1%), IDFC First Bank (1%), and PNB (0.44%). Godfrey Phillips and GSK Pharma surged 20% each due to strong earnings, while Glenmark Pharmaceuticals gained 4% on profitability. Dilip Buildcon rose 4.4% despite mixed results. On the losing side, Zen Technologies fell 20% after weak Q3 profits, RVNL dropped 7%, and Concord Biotech declined nearly 12%. Genesys International extended losses to hit a six-month low.

Senior citizens can get higher interest rates on fixed deposits, but the best return depends on the bank and tenure. Punjab National Bank (PNB) offers 7.30% for 1 year, 7.50% for 3 years, and 7% for 5 years. SBI provides 7.30%, 7.25%, and 7.50% for the same periods. Bank of Baroda (BoB) gives 7.35%, 7.65%, and 7.40%. Canara Bank offers 7.35%, 7.90%, and 7.20%. ICICI Bank provides 7.20%, 7.50%, and 7.50%, while HDFC Bank has 7.10%, 7.50%, and 7.50%. Axis Bank offers 7.20%, 7.60%, and 7.75%. For the highest returns, Canara Bank leads for 3 years (Rs 1,26,452), while Axis Bank is best for 5 years (Rs 1,46,784).