MARKET UNDER PRESSURE; EUROPEAN MRKT DECLINE

The key domestic indices traded with significant losses in the afternoon trade. The Nifty slipped the 22,850 mark after hitting the day`s high of 23,133.70 in early trade. All the sectoral indices on the NSE were traded in red with media, pharma and PSU Bank shares witnessing sharpest declines.

At 13:25 IST, the barometer index, the S&P BSE Sensex, declined 485.18 points or 0.64% to 76,644.94. The Nifty 50 index tumbled 182.80 points or 0.79% to 22,848.60.

In the broader market, the S&P BSE Mid-Cap index fell 2.81%, and the S&P BSE Small-Cap index rose dropped 3.57%.

The market breadth was positive. On the BSE, 544 shares rose and 3,337 shares fell. A total of 105 shares were unchanged.

Gainers & Losers:

Nestle India (up 0.67%), ICICI Bank (up 0.25%), Tata Consultancy Services (TCS) (up 0.10%), Tata Consumer Products (up 0.10%) and HCL Technologies (up 0.08%) were the major Nifty gainers.

Adani Ports & Special Economic Zone (APSEZ) (down 4.38%), Bharat Electronics Limited (BEL) (down 4.26%), Adani Enterprises (down 3.86%), Shriram Finance (down 3.36%) and Sun Pharmaceutical Industries (down 3.25%) were the major Nifty losers.

Economy:

Wholesale price inflation moderated to 2.31% in January 2025 due to the decline in prices of food item especially vegetables, government data released on Friday showed. The Wholesale price Index (WPI) based inflation was 2.37% in December 2024. It was 0.33% in January 2024.

Stocks in Spotlight:

Afcons Infrastructure declined 4.27%. The company�s consolidated net profit jumped 35.86% to Rs 148.85 crore on a 2.73% increase in revenue from operations to Rs 3,211.10 crore in Q3 FY25 over Q3 FY24.

GRM Overseas tumbled 5.25% after the company�s consolidated net profit fell 12.58% to Rs 13.54 crore in Q3 FY25, compared with Rs 15.49 crore in Q3 FY24. Revenue from operations declined 2.93% YoY to Rs 371.24 crore in Q3 FY25.

Concord Biotech tumbled 19.89% after the company�s consolidated net profit fell 2.1% to Rs 75.92 crore in Q3 FY25 as compared with Rs 77.57 crore in Q3 FY24. Revenue from operations increased 1.4% YoY to Rs 244.22 crore in Q3 FY25.

Deepak Nitrite tumbled 14.32% after the company�s consolidated net profit tanked 51.45% to Rs 98.09 crore in Q3 FY25, compared with Rs 202.05 crore recorded in the same period last. Revenue from operation stood at Rs 1,903.40 crore in Q3 FY25, down 5.27%, compared with Rs 2,009.23 crore posted in Q3 FY24.

Godfrey Phillips India jumped 17.02% after the company�s consolidated net profit climbed 48.7% to Rs 315.85 crore in Q3 FY25 as compared with Rs 212.35 crore in Q3 FY24. Revenue from operations (excluding excise duty) increased 28.2% YoY to Rs 1,899.35 crore in Q3 FY25.

Senco Gold hit a lower limit of 20% after the company�s consolidated net profit declined 69.37% to Rs 33.48 crore in Q3 FY25 as compared with Rs 109.32 crore in Q3 FY24. Revenue from operations jumped 27.26% to Rs 2,102.54 crore in Q3 FY25 as compared with Rs 1,652.20 crore in Q3 FY24.

Global Markets:

Most European market declined after hitting record highs earlier this week.

Most Asian stocks traded higher on Friday, tracking overnight gains on Wall Street, as investor sentiment improved after U.S. President Donald Trump held off on imposing immediate reciprocal tariffs�despite earlier threats.

However, concerns over escalating U.S. trade tariffs and stubborn inflation lingered, while an AI-fueled rally continued to boost Chinese equities.

Wall Street saw relief on Thursday, supported by a decline in Treasury yields, even as U.S. inflation data came in hotter than expected. The producer price index (PPI) for January rose 0.4% month-on-month, exceeding forecasts. On an annual basis, PPI held steady at 3.5%.

Despite the inflationary pressure, stocks rallied after Trump signed an order to explore reciprocal tariffs but stopped short of immediate implementation, giving trading partners a potential window for negotiations.

The S&P 500 climbed 1.04%, approaching record highs, while the NASDAQ Composite surged 1.5% and the Dow Jones Industrial Average gained 0.77%.

Tech stocks led the charge�Nvidia and Apple advanced 3.2% and 2%, respectively, while Tesla rebounded nearly 6% from a 2.5-month low.

With inflation concerns still looming, investors remain watchful of policy moves and market momentum in the days ahead.

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