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Thu, 23 Feb 10:30 am

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Asian share markets are mixed today as strong economic data had investors worrying.

The Nikkei is down 1.3% while the Hang Seng is trading up by 0.5%. The Shanghai Composite is trading higher by 0.1%.

US stock markets ended on a mixed note on Wednesday, as Wall Street indices prepared for interest rates to stay higher for longer.

The Dow Jones Industrial Average ended 0.3% lower while the tech heavy Nasdaq Composite edged up 0.1%.

Here's a table showing how US stocks performed on Wednesday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	91.8	-0.25	-0.27%	92.36	90.87	152.1	83.45
Apple	148.91	0.43	0.29%	149.95	147.16	179.61	124.17
Meta	171.12	-0.96	-0.56%	172.76	169.69	328	88.09
Tesla	200.86	3.49	1.77%	201.99	191.78	384.29	101.81
Netflix	334.88	-2.62	-0.78%	341.91	332.82	458.48	162.71
Amazon	95.79	1.21	1.28%	97.01	94.8	170.83	81.43
Microsoft	251.51	-1.16	-0.46%	254.34	250.34	315.95	213.43
Dow Jones	33,045.10	-84.5	-0.26%	33,245.90	32,948.27	35,492.22	28,660.94
Nasdaq	11,507.10	14.8	0.13%	11,582.52	11,445.17	14,646.90	10,088.83

Data source: Equitymaster

Back home, Indian share markets are trading on a positive note taking cues from SGX Nifty.

At present, the BSE Sensex is trading higher by 115 points. Meanwhile, the NSE Nifty is trading up by 38 points.

Coal India, and Tata Steel are among the top gainers today.

Asian Paints, and Titan are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is down 0.4% and the BSE Small Cap index is trading lower by 0.1%.

Sectoral indices are trading on a mixed note with stocks in the realty sector, and consumer durables sector witnessing selling.

While stocks in the metal sector, and IT sector witness buying.

Shares of Blue Star, and Cyient hit their 52 week high today.

The rupee is trading at Rs 82.79 against the US dollar.

In the commodity markets, gold prices trades down by 0.4% at Rs 55,865 per 10 grams.

Meanwhile, silver prices are trading lower by 0.4% at Rs 65,179 per 1 kg.

Speaking of stock markets, everyone is focused on looking for alternatives of crude oil and petroleum lately. As a result, people are now actively using ethanol and focusing more on electronic vehicles.

However, an important alternative is being missed out.

Green hydrogen is not a fuel everyone talks about. Hydrogen is not just another fuel. Hydrogen is expected to serve as a primary industrial fuel in the 21st century, just as coal drove the 19th century and oil drove the 20th century.

Hence, it's clear that green hydrogen stocks should be an important part of an investor's watch list. In the below video, Co-head of Research at Equitymaster Tanushree Banerjee shares three critical factors that decide if green hydrogen stocks make money.

Tune in to the below video to know more:

Adani stocks post worst day in two weeks

Adani Group stocks got an eye-opening jolt on Wednesday that saw the destruction of Rs 512.9 billion (bn) of investor wealth. All the Adani Group's ten listed firms have together lost Rs 11,620.3 bn in market valuation as selling pressure intensified.

It was the biggest single day fall in the last two weeks since 14 February 2023. And, since 24 January 2023, the day US-based Hindenburg Research released its report on Adani Group, alleging fraud.

In Wednesday's trading session, all the Adani stocks are trading lower with a downward move of 5-11%. Adani Enterprises was down more than 11%, and the remaining nine stocks are down 5% each.

The stock fall continues despite the group companies making prepayments to mutual funds.

Over the last two days, the prepayments have been made to SBI MF, HDFC MF & ABSL MF for February dues related to Commercial Papers.

It has also made an announcement of prepayment for March 2023 dues.

Adani group stocks have been in a free fall since 24 January 2023. Some stocks from the group even fell around 70%.

To know whether or not it's time to buy the dip in the Adani Group stocks, check our editorial: Adani Group stocks: should you catch this falling knives?

Orient Cement snaps grinding deal with Adani Power

Orient Cement, part of CK Birla Group, has terminated a proposal with Adani Power Maharashtra to set up a grinding unit.

Both companies had signed a non-binding MoU in September 2021 for facilitating bona fide use of land identified for establishing a cement grinding unit in Maharashtra's Tiroda.

The Adani power requested Orient Cement the deal cancellation, as it will not be able to pursue the venture further as they are not able to obtain the required MIDC clearances for sub-leasing the parcel of land required for the CGU due to some legal issue.

This comes a couple of days after Adani Power called off the acquisition of DB Power, around six months after announcing that it would be acquiring the Chhattisgarh-based power company in a Rs 70 bn deal.

With a 200% rise in share price, Adani Power was the top gainer in 2022.

This rally became a standstill when US-based short-seller Hindenburg came out with its long report, alleging Adani group of stock manipulation, among other things.

HG Infra lowest bidder for RVNL Project

HG Infra Engineering on Wednesday announced that it was the Lowest Bidder for a railway project by Rail Vikas Nigam Ltd (RVNL).

RVNL had given an estimated cost of Rs 535.2 crore, while HG Infra's bid came in at Rs 466 crore. Hence, HG Infra was declared as the lowest bidder.

The project consists of foundation construction, substructure & superstructure with river protection work, and earthwork & allied works.

It is for viaducts 1 & 2 in connection with Bhanupali-Bilaspur-Beri's new railway line in Bilaspur, Himachal Pradesh.

Last month, the construction engineering giant received a Letter of Acceptance from Delhi Metro Rail Corporation (DMRC) for a project worth Rs 3.9 bn.

HG Infra is engineering giant in India, primarily engaged in the business of engineering, procurement, and construction (EPC) relating to roads, and infrastructure contract works and related activities.

Tata Steel acquires stake in NINL

Tata Steel on Wednesday acquired shares amounting to Rs 3 bn in Neelachal Ispat Nigam, an indirect subsidiary of the company.

It subscribed to 46.8 million (m) shares of Rs 10 each at a premium of Rs 54 per share, amounting to Rs 3 bn. It is the Tranche 1 investment in Neelachal Ispat Nigam.

The funding will be utilized towards the working capital and capex requirement of NINL, including the start-up of an iron and steel plant at Kalinganagar, repayment or prepayment of liabilities and other general corporate purposes.

Post the acquisition, Tata Steel's shareholding in Neelachal Ispat Nigam Ltd increased to 5.23% from 1.88%.

Tata group in July last year had completed the acquisition of 93.7% in NINL through its listed step-down subsidiary, Tata Steel Long Products.

Tata Steel is Asia's first integrated private steel company.

The company is primarily engaged in the business of manufacturing and selling finished steel goods. Tata Steel is also among the top undervalued stocks in India.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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