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The domestic equity benchmarks suffered losses for the fifth consecutive session on Tuesday, driven by concerns over escalating global trade tensions and disappointing corporate earnings. The market's decline was triggered by anxieties surrounding newly imposed tariffs on steel and aluminum imports, raising fears of a broader trade conflict that could negatively impact India's economic outlook. Investors are also awaiting further signals from the US Federal Reserve, with Chair Jerome Powell's upcoming testimony and key inflation data being closely monitored for clues about the direction of monetary policy. The prevailing negative sentiment has been exacerbated by lackluster corporate earnings reports, creating uncertainty among investors and prompting a sell-off of equity holdings. The Nifty closed below the 23,100 mark, with all sectoral indices on the NSE ending the day in negative territory. Realty, media, and auto sectors were particularly hard hit, experiencing significant declines. The S&P BSE Sensex plunged 1,018.20 points or 1.32% to 76,293.60. The Nifty 50 index declined 309.80 points, or 1.32% to 23,071.80. In five consecutive trading sessions, the Sensex and Nifty lost 2.91% and 2.81%, respectively. Eicher Motors (down 6.73%), Larsen & Toubro (down 2.65%) and Reliance Industries (down 1.50%) were major drags. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 2.88%, and the S&P BSE Small-Cap index slumped 3.40%. The market breadth was weak. On the BSE, 528 shares rose and 3,474 shares fell. A total of 95 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 2.94% to 14.87. Numbers to Track: The yield on India's 10-year benchmark federal paper was up 1.39% to 6.806 as compared with previous close 6.822. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.8275, compared with its close of 87.4550 during the previous trading session. MCX Gold futures for the 4 April 2025 settlement shed 0.41% to Rs 85,461. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, shed 0.06% to 108.27. The United States 10-year bond yield added 0.62% to 4.523. In the commodities market, Brent crude for April 2025 settlement rose 95 cents, or 1.25% to $76.82 a barrel. Global Markets: US Dow Jones index futures were down 71 points, indicating a negative opening for US equities. Most European shares traded higher on Tuesday as investors digest the latest raft of tariffs introduced by U.S. President Donald Trump. Additionally, investors are awaiting earnings reports from Kering, BP, Dunelm, TUI Group, Ams-OSRAM, and Unicredit. On the data front, French unemployment figures are due. Markets in Asia ended lower as investors remained cautious over Donald Trump's latest tariff decisions. The U.S. President signed off on 25% tariffs on steel and aluminum imports, warning that more trade measures could follow. On Monday, Trump formalized the tariffs through executive orders, stating that there would be no exceptions. While major steel exporters like Canada, Mexico, and Brazil had previously enjoyed some quota-based exemptions, those privileges are now revoked. Trump hinted that tariffs on metals could go even higher and suggested he was considering duties on cars, semiconductors, and pharmaceuticals. He also proposed raising U.S. import tariffs to match the rates imposed by foreign countries on American goods. In the U.S., the S&P 500 closed higher on Monday as a tech-driven rally, led by Nvidia, offset worries about Trump's tariff threats. Investors also looked ahead to key economic data and Federal Reserve Chairman Jerome Powell's testimony later in the week. The Dow Jones Industrial Average rose 0.4%, the S&P 500 index gained 0.7%, and the NASDAQ Composite climbed 1%. Nvidia jumped 3%, leading the tech sector higher after analysts described the stock as a buying opportunity following its recent dip. The optimism comes ahead of the company's quarterly earnings report, set for release on February 26. Fed Chair Jerome Powell is expected to face tough questions on the potential economic impact of tariffs when he delivers his semiannual monetary policy testimony before Congress on Tuesday and Wednesday. Meanwhile, investors are closely watching U.S. consumer inflation data for January, scheduled for release on Wednesday. The report could influence the Fed's stance on interest rates and shape market expectations in the coming weeks. IPO Update: The initial public offer (IPO) of Ajax Engineering received bids for 68,88,960 shares as against 1,41,49,997 shares on offer, according to stock exchange data at 17:00 IST on 11 February 2024. The issue was subscribed to 0.49 times. The issue opened for bidding on 10 February 2024 and it will close on 12 February 2024. The price band of the IPO is fixed between Rs 599 and Rs 629 per share. Stocks in Spotlight: CRISIL rose 4.87% after its consolidated income from operations for Q4 2024 declined by 0.5% to Rs 912.9 crore, compared with Rs 917.7 crore in Q4 2023. Consolidated total income for Q4 2024 declined by 0.8% to Rs 943.2 crore, compared with Rs 951.0 crore in Q4 2023. PBT in Q4 2024 was up 5.6% to Rs 294.5 crore, compared with Rs 278.8 crore in Q4 2023. PAT in Q4 2024 was up 6.9% to Rs 224.7 crore, compared with Rs 210.1 crore in Q4 2023. The board has recommended a final dividend of Rs 26 per share. Grasim Industries rose 0.87%. The company's consolidated net profit zoomed 130.56% to Rs 898.96 crore on 3.66% rise in revenue from operations to Rs 34,792.85 in Q3 FY25 over Q2 FY25. National Aluminium Company (NALCO) slipped 3.98%. The company reported a 224.5% surge in standalone net profit to Rs 1,582.90 crore in Q3 FY25 as compared with Rs 488.47 crore in Q3 FY24. Revenue from operations jumped 39.27% YoY to Rs 4662.22 crore in the quarter ended 31st December 2024. Bata India added 0.23%. The company's consolidated net profit rose 1.24% to Rs 58.69 crore in Q3 FY25 as against Rs 57.97 crore posted in Q3 FY24. Revenue from operations added 1.69% year on year (YoY) to Rs 918.79 crore in the quarter ended 31 December 2024. FSN E-Commerce Ventures (Nykaa) declined 1.62%. The company's consolidate net profit jumped 51.35% to Rs 26.41 crore on a 26.74% increase in revenue from operations to Rs 2,267.21 crore in Q3 FY25 over Q3 FY24. Escorts Kubota dropped 5.36%. The tractor maker's reported 7.67% increase in standalone net profit from continuing operations to Rs 290.47 crore on 8.46% increase in revenue from operations to Rs 2,935.43 crore in Q3 FY25 as compared with Q3 FY24. Eicher Motors fell 6.73%. The company reported 17.5% jump in consolidated net profit to Rs 1170.50 crore in Q3 FY25 as compared with Rs 995.97 crore in Q3 FY24. Revenue from operations increased 18.8% YoY to Rs 4,888.11 crore in Q3 FY25. TVS Supply Chain Solutions slipped 3.62% after the company reported consolidated net loss of Rs 24.65 crore in Q3 FY25 as against net profit of Rs 9.56 crore posted in corresponding quarter last year. Revenue from operations increased 10.02% YoY to Rs 2,444.62 crore during the quarter. Talbros Automotive Components (TACL) lost 6.08%. The company reported 4.70% increase in consolidated net profit to Rs 23.82 crore in Q3 FY25 as against Rs 22.75 crore posted in Q3 FY24. Revenue from operations rose 1.37% year on year (YoY) to Rs 201.47 crore in the quarter ended 31 December 2024. Patanjali Foods declined 1.31%. The company reported 71.3% surge in standalone net profit of Rs 370.93 crore in Q3 FY25 as against Rs 216.54 crore posted in Q3 FY25. Revenue from operations jumped 15.1% YoY to Rs 9,103.13 crore in the quarter ended 31 December 2024. Devyani International dropped 4.55% after the company reported consolidated net loss of Rs 7.65 crore in Q3 FY25 as against net profit of Rs 5.07 crore posted in corresponding quarter last year. Revenue from operations increased 53.22% year-over-year to Rs 1,294.40 crore in the December'24 quarter. Orissa Minerals Development Company (OMDC) fell 4.96% after the company reported consolidated net loss of Rs 7.49 crore in Q3 FY25 as against net profit of Rs 2.32 crore posted in corresponding quarter last year. Total income slipped 25.78% year on year (YoY) to Rs 21.16 crore in the third quarter of FY25. Ashoka Buildcon slipped 2.44% after the company's consolidated net profit surged 502% to Rs 661.5 crore in Q3 FY25 as against Rs 109.8 crore posted in Q3 FY24. Revenue from operations declined 10% to Rs 2,387.9 crore in Q3 FY25 over Q3 FY24. Powered by Capital Market - Live News
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