Surat Municipal Corporation (SMC) successfully raised Rs. 200 crore by issuing municipal bonds on a private placement basis using the BSE Bond Platform, on Wednesday. 

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Saudi Arabia’s Energy Minister Khalid al-Falih indicated that he is in favour of extending oil production cuts in the second half of 2019. This is despite US President Donald Trump demanding that oil prices be kept low.

India’s second-largest airline carrier Jet Airways informed the bourses on Wednesday that they have grounded an additional seven aircraft. The company had to land 13 aircraft this month due to non- payment of lease rentals to lessors.

Overall volumes in futures & options currently stand at 2.30 crore contracts with a turnover of Rs. 14,77,021.36 crore.

Overall volumes in futures & options currently stand at 2.30 crore contracts with a turnover of Rs. 14,77,021.36 crore.

Going ahead, Tuesday’s session panic low of 10,729 is likely to act as a support level. In today’s session, volatility is likely to be embedded, given the geopolitical tensions, expiry of the current derivative series and the release of GDP data.  Stocks in news: Tata Metaliks, ARSS Infrastructure Projects, Wipro, Vascon Engineers, SCI, Meghmani Organics and Varroc Engineering.

In early action, SGX Nifty indicates that the Indian markets may start with a modest uptick. The Nifty is expected to open around 10,833, up by 30 points. However, given the geopolitical tensions and expiry of February series future & options contracts, the markets are more likely to remain on tenterhooks and volatility is likely to be elevated. On the macro front, gaining attention of market participants will be India’s GDP figures. 

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The stocks that are likely to witness significant movement on the bourses on February 28 are ARSS Infrastructure, Syndicate Bank, Dilip Buildcon, Pennar Engineering Building Systems and Hindustan Petroleum.