Stocks in the Asia Pacific region were mixed and traded in a tight range on Wednesday, after US President Donald Trump downplayed fears of a recession, helping US stocks post a late-day recovery amid a volatile session.

South Korea’s Kospi rose 1.37%, or 34.67 points to 2,572.27, while Australia’s S&P ASX 200 was down 1.59% at 7,764.50, hovering near a correction as of 7:12 a.m. Markets in Japan and Hong Kong rose on Wednesday, while the benchmark indices in China were also in the green.

This comes after S&P 500 fell 0.76% on Tuesday, this is 9.3% lower than its all-time high, while the Nasdaq Composite slipped 0.18%. The Dow Jones Industrial Average fell over 1% on Tuesday.

The dollar index — which tracks the greenback’s performance against a basket of 10 leading global currencies — rose over 0.1%. The benchmark yield fell one basis points to 4.27%.

Crude oil rose on Wednesday snapping its losing streak with the Brent crude rising 0.50% at $69.91 a barrel as of 7:15 a.m. IST, and the West Texas Intermediate was up 0.56% at $66.62.

India’s benchmark equity indices pared early losses to end Tuesday’s session mixed as ICICI Bank Ltd. and Bharti Airtel Ltd. led the recovery.

The NSE Nifty 50 ended 37.60 points or 0.17% higher at 22,497.90, while the BSE Sensex closed 12.85 points or 0.02% down at 74,102.32.

Foreign portfolio investors were net sellers of Indian equities once again, for the 14th straight session on Tuesday as they net offloaded stocks worth Rs 2,823.8 crore. Domestic institutional investors remained net buyers for the 24th straight session as they net bought equities worth Rs 2,001.8 crore, according to provisional data from the National Stock Exchange.

Stocks To Watch

  • FSN E-Commerce Ventures: It incorporated a wholly owned subsidiary, Nykaa Essentials, for its beauty and personal care business.

  • Bharti Airtel: The company signed an agreement with SpaceX to bring Starlink’s high-speed internet services to its customers in India, subject to regulatory approvals.

  • Rail Vikas Nigam: RVNL emerged as the lowest bidder for a Rs 554.6-crore NHAI project for constructing six-lane access-controlled connectivity to Visakhapatnam port road.

  • Kaynes Technology India: SEBI issued a show-cause notice to MD Ramesh Kunhikannan alleging violations of structured digital database norms regarding Q4 FY23 financial results.

  • Adani Green Energy: Step-down arm Adani Solar Energy AP Eight commissioned a 250 MW solar power project in Kadapa, Andhra Pradesh, taking total operational renewable capacity to 12,591.1 MW.

  • Tata Consultancy Services: The company will acquire Darshita Southern India for Rs 2,250 crore.

  • PB Fintech: The company approved an investment of Rs 696 crore in its arm PB Healthcare Services.

  • Godrej Agrovet: The company will acquire a 48.06% equity stake in Creamline Dairy Products for Rs 930 crore.

  • CG Power and Industrial Solutions: The company secured an order for supply and servicing of railway products for Vande Bharat train sets, with the first phase of the order valued at around Rs 450 crore.

  • Canara Bank: The bank cut MCLR rates on select tenures by 5-15 basis points, effective March 12.

  • Unitech: The company will divest 100% stake in its arm Unitech Power Transmission.

  • Swiggy: The company has partnered with Sulabh International. Under this agreement, delivery partners in key cities will be able to use Sulabh Shauchalaya facilities free of charge.

Bulk Deals

  • Infosys: Gaurav Manchanda sold 29.84 lakh shares (0.07%) at Rs 1,657 apiece, Shruti Shibulal bought 29.84 lakh shares (0.07%).

Insider Trading

  • Rain Industries: Promoter Sujala Investments bought 20,218 shares on March 10.

  • Indoco Remedies: Promoter Shanteri Investment bought 19,300 shares on March 10.

  • Godrej Properties: Promoter Godrej Seeds and Genetics bought 11,020 shares on March 7.

  • TD Power Systems: Promoter Aarya Sankaran Kumar bought 4,000 shares on March 6 and March 7.

  • Avadh Sugar & Energy: Promoter Ronson Traders revoked a pledge for 1.31 lakh shares on Dec. 31.

  • Aster DM Healthcare: Promoter Union Investments created a pledge for 8.51 crore shares on March 7.

  • Rashi Peripherals: Promoter Krishna Kumar Choudhary bought 12,400 shares, promoter Priyanka Kapal Pansari bought 12,350 shares on March 10.

  • KCP: Promoter Subbarao Vallabhaneni bought 1.91 lakh shares between Feb. 21 and March 10.

  Trading Tweaks

  • Price band changes from 5% to 2%: Urja Global, Kamdhenu Ventures.

  • Price band change from 20% to 10%: Manorama Industries,

  • Moved into short-term ASM framework: Panacea Biotec, Jyoti CNC Automation, Godrej Industries, Bharat Wire Ropes.

  • Moved out of short-term ASM framework: Nil

F&O Cues

  • Nifty March futures up 0.33% to 22,564 at a premium of 67 points.

  • Nifty Feb futures open interest down 0.55%.

  • Nifty Options March 13 Expiry: Maximum call open interest at 23,000 and maximum put open interest at 22,200.

  • Securities in ban period: BSE, Hindustan Copper, Manappuram Finance, IndusInd Bank, SAIL.

Currency Update

The Indian rupee strengthened 12 paise to close at 87.21 against the US dollar.

. Read more on Markets by NDTV Profit.The NSE Nifty 50 ended 0.17% higher at 22,497.90, while the BSE Sensex closed 0.02% down at 74,102.32 on Tuesday.  Read MoreMarkets, Notifications 

​NDTV Profit