PI Coin Listing Today: Pi Network's Open Mainnet is set to launch on Thursday, opening the door for external transactions and potentially listing Pi Coin on major exchanges like Binance and OKX. This development has already driven Pi Coin's price up and may lead to further increases if exchange support is confirmed.
The rupee gained 19 paise, trading at 86.79 against the US dollar on Thursday. The US dollar index was down, while Brent crude prices fell. Domestic equities showed a muted trend with foreign institutional investors offloading equities worth Rs 1,881.30 crore. India's economy expects strong momentum in the second half of the year.
Analysts expect slower-than-expected earnings growth for over 70% of Nifty companies in the next fiscal year due to weaker demand, subdued household spending, and slower credit growth. Companies like ONGC, HDFC Bank, and JSW Steel experienced earnings downgrades, while market cautiousness prevails due to lofty valuations and slowing profits.
Cyient share price: Shares of Cyient surged 4% to an intraday high after the appointment of Sukamal Banerjee as executive director and CEO of its digital, engineering, and technology division. His leadership and extensive experience in the ER&D and technology sectors are expected to drive the company's next phase of growth.
As an active investor with a mix of direct equity and mutual funds, he is currently investing Rs 1.25 lakh per month through SIPs in Parag Parikh Flexi Cap, Quant Mid & Small Cap, and Helios Flexi Cap funds.
For the past few months, we have witnessed FPI outflows owing to interest rate changes in the US, which made carry trades less attractive against US markets.
In the Nifty200 pack, three stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on February 20, according to stockedge.com's technical scan data.
Benchmark indices Sensex and Nifty close slightly lower amid volatile trading, with blue-chip IT stocks taking a hit. Zen Technologies rose by 10%, Tata Motors saw a minor decline of 0.2%, and Data Patterns gained 9%. Experts suggest cautious trading strategies for these stocks.
Stocks in Japan and Australia dropped while equity index futures for Hong Kong also drifted lower. Contracts for US stocks also slipped in early Asian trading after the S&P 500 climbed 0.2% on Wednesday to set a new high, with defensive sectors outperforming in a sign of investor caution.
FTSE Russell said in October it would include India's sovereign bonds in its Emerging Markets Government Bond Index from September 2025. JP Morgan and Bloomberg Index Services have also announced the inclusion of the country's bonds in their indices, a move that will result in a flood of money into these securities.
