FIRST TRADE: Indices subdued; Nifty above 22,100; TCS up nearly 1% as UBS upgrades stock

Stock market today: The Indian share market on Tuesday, February 27, opened on a subdued note, tracking broader Asian peers ahead of key US economic data that could influence the interest rate trajectory in the world's largest economy.

Last seen, both indices, Sensex and Nifty, were down 0.04 per cent with the 30-scrip barometer trading 25.68 points lower at 72,764.45 and the NSE Nifty trading 9.05 points lower at 22,113 levels. 

Meanwhile, Nifty Mid Cap 100 and Small Cap 100 traded in positive territory. Nifty Bank was down 0.25 per cent at 46.460.35. 

BUZZING STOCKS

TCS shares were up nearly 1 per cent after UBS upgraded the stock's rating along with the target price. 

Havells India shares were up nearly 3 per cent after Jefferies double upgraded to 'buy' and raised the target to Rs 1,660 from Rs 1,540 apiece. 

ICICI Lombard General Insurance Company shares were up over 2 per cent after multiple block deals. 

Crompton Greaves Consumer Electricals shares were up over 2 per cent after HDFC MF bought 1.37 crore shares, or a 2.14 per cent, stake in the company. 

Power Mech Projects shares were up over 2 per cent after the company received an order worth Rs 396 crore for a railway project in Chhattisgarh.

Hind Rectifier shares hit the upper circuit after the company secured orders of more than Rs 200 crore from Indian Railways.

Conversely, Whirlpool of India shares were down over 2 per cent after Jefferies downgraded it to 'underperform' and cut the target to Rs 1,125 from Rs 1,265 apiece. 

Dixon Technologies (India) shares were down over 3 per cent after Jefferies downgraded to 'underperform' and decreased the target to Rs 5,920 from Rs 6,440 apiece. 

Paytm shares gained 4% as PPBL said it had reconstituted its board.

GLOBAL MARKETS

Asian shares struggled to advance on Tuesday, with slightly warmer-than-expected Japanese inflation putting investors on guard ahead of price data due in Europe and the US this week.

The yen steadied at 150.57 to the dollar and inched off a three-month low on the euro as Japanese inflation stayed at the central bank's 2 per cent year-on-year target, keeping alive expectations it would exit negative rates by April.

(With inputs from agencies.) 

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