Asian share markets fell today but reversed losses. The fall came after US equities closed lower, rounding out a turbulent month that saw global stocks drop about 3%.

The Nikkei is up 0.2% while the Hang Seng is trading up by 3.4%. The Shanghai Composite is trading higher by 0.9%.

US stocks closed out February in a subdued fashion and each of the three major indexes ended with monthly declines, as investors continue to assess whether interest rates will remain high for an extended period of time.

The Dow Jones Industrial Average ended 0.7% lower while the tech-heavy Nasdaq Composite slipped 0.1%.

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

Source: Equitymaster

Back home, Indian share markets are trading on a positive note following the SGX Nifty trend.

At present, the BSE Sensex is trading higher by 318 points. Meanwhile, the NSE Nifty is trading up by 106 points.

M&M and Axis Bank are among the top gainers today.

Power Grids and Asian Paints are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading higher by 0.9% and the BSE Small Cap index is trading higher by 1%.

Sectoral indices are trading on a positive note with stocks in the metal sector, auto sector, and banking sector witnessing heavy buying.

Shares of Jindal Stainless and Triveni Turbines hit their 52-week high today.

The rupee is trading at Rs 82.53 against the US dollar.

In the commodity markets, gold prices are trading down by Rs 17 at Rs 55,739 per 10 grams.

Meanwhile, silver prices are trading higher by 0.5% at Rs 64,070 per 1 kg.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of the current stock market scenario, amid the ongoing volatility, have a look at the two charts below, in the order, they have been placed:

Near-Term Volatility in Sensex Compensated by Long-Term Gains

The year-on-year change in the Sensex was hardly predictable but someone who stayed invested multiplied every lakh nearly 14 times.

Timing the markets could be suicidal as valuations and volatility put the markets in a see-saw mode.
 

Adani secures debt facility

The Adani group has received a firm commitment for an US$ 800 million (m) (about 65,950.4 m) debt facility, which will be used to refinance Adani Green Energy's US$ 750 m (about Rs 61,828.5 m) 4.375% bond due in September 2024 and can finalize the term sheet in next five days, the management informed investors.

This week, Adani Group's chief financial officer Jugeshinder Singh and head of group corporate finance Anupam Misra are meeting fixed income investors in Singapore and Hong Kong to update them about fundraising plans across businesses.

Adani group has a standing credit facility from a group of banks, which can be used for infrastructure projects, and they can firm up the term sheet in the next five days.
 

SoftBank to sell Delhivery shares

Japanese conglomerate Softbank will offload shares worth Rs 6,000 m in Delhivery through block deals today, according to reports.

Softbank may also consider to up-size the option, if the deal sees strong demand, according to reports. The block deal to offload of Delhivery shares could start on 1 March 2023.

The shares are likely to be offered at a 3-5% discount to the current market price. Citigroup will be the broker for the deal.

Softbank, which is the single largest public stakeholder in the logistics company, held an 18.4% stake as of December 2033, through its subsidiary Svf Doorbell (Cayman).

The report of Softbank selling its stake comes at a time when last week, America's investment management firm Tiger Global Management sold a 1.7% stake in Delhivery through the open market for Rs 4,140 m.

As of December-end, Tiger Global through its venture capital firm held a 4.7% stake in the company.
 

Tata Power approves allotment of convertible debentures

Tata Power on Tuesday said the board of its arm Tata Power Renewable Energy (TPREL) has approved the allotment of 200 m preference shares worth Rs 20 bn to GreenForest New Energies Bidco.

Compulsorily convertible preference shares with a face value of Rs 100 each, will be allotted to GreenForest on a preferential basis, the company said in an exchange filing.

With this, both the tranches of investment of Rs 20 bn each in the TPREL made by GreenForest are completed in accordance with the terms of the agreements, it stated.
 

Bharat Electronics signs new agreement

Bharat Electronics (BEL) signed a frame supply agreement with Thales Reliance Defence Systems (TRDS), Nagpur, for the manufacture and supply of TR modules, radar line replaceable units (LRUs), and micro modules.

The frame supply agreement aims at leveraging the complementary strengths and capabilities of BEL and TRDS.

As part of the offset commitment under the Rafael-India Contract and in line with the Make in India policy, BEL and TRDS have entered into an agreement for the manufacture and supply of TR modules and micro modules of radar used in Rafael fighter aircraft.

In continuation of the agreement signed between BEL and TRDS, BEL has received an order to manufacture and supply micro modules.

BEL, TRDS, and Thales are active stakeholders in the 'Make in India' policy of the Government of India.

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