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The domestic stock market closed with minimal change on Thursday, reflecting a cautious sentiment among investors due to worries about rising inflation in the United States and persistent trade tensions. The market also experienced volatility due to the expiry of weekly index options on the NSE. The Nifty 50 index settled below the 23,050 mark, marking its seventh consecutive day of losses ' the longest such streak in three months. While sectors like pharma and healthcare showed resilience, others such as IT and public sector banks faced selling pressure. The S&P BSE Sensex, declined 32.11 points or 0.04% to 76,138.97. The Nifty 50 index lost 13.85 points or 0.06% to 23,031.40. In seven consecutive trading sessions, the Sensex and Nifty lost 3.11% and 2.98%, respectively. Adani Enterprises (down 4.58%), Infosys (down 1.10%) and HDFC Bank (down 0.54%) were major drags. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.07%, and the S&P BSE Small-Cap index fell 0.43%. The market breadth was negative. On the BSE, 1858 shares rose and 2089 shares fell. A total of 127 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.40% to 14.96. Numbers to Track: The yield on India's 10-year benchmark federal paper was up 1.93% to 6.826 as compared with previous close 6.806. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.9250, compared with its close of 86.9500 during the previous trading session. MCX Gold futures for the 4 April 2025 settlement rose 0.41% to Rs 85,830. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, shed 0.38% to 107.60. The United States 10-year bond yield fell 0.69% to 4.602. In the commodities market, Brent crude for April 2025 settlement lost $1 or 1.33% to $74.18 a barrel. Oil prices fell on Thursday as a potential peace deal between Russia and Ukraine continued to exert downward pressure, along with rising crude inventories in the United States. Global Markets: Most European markets advanced on Thursday as the U.K. economy grew by 0.1% in the fourth quarter, ahead of expectations for a 0.1% contraction, according to a preliminary estimate from the U.K.'s Office for National Statistics. Investors are looking for corporate results, while Germany's latest inflation rate is also due. Most Asian stocks ended higher as a surge in Chinese tech stocks, driven by enthusiasm for artificial intelligence, and news of potential deals in Japan's technology sector provided positive momentum. However, concerns about high U.S. inflation tempered gains. Market sentiment was also boosted by reports of potential peace talks between Russia and Ukraine, raising hopes for an end to the protracted conflict. This news contributed to a drop in oil prices. It was reported that both the Russian and Ukrainian presidents expressed a desire to resolve the conflict in separate phone calls and that steps were being taken to initiate peace talks. This development followed reports that Ukraine would no longer pursue NATO membership, a key point of contention for Russia. U.S. stocks fell overnight after stronger-than-anticipated consumer price index (CPI) data was released. The inflation figures lessened expectations of near-term interest rate cuts. At the NYSE close, the Dow Jones Industrial Average decreased by 0.50%, the S&P 500 index fell by 0.27%, and the NASDAQ Composite index showed a slight gain of 0.03%. The CPI increased by 0.5% month-over-month while the core CPI rose by 0.4%. These results fueled concerns about persistent inflationary pressures. Analysts pointed to the upside surprise in the CPI report, noting that it contradicted earlier forecasts of moderating inflation. Overall market sentiment remained cautious due to ongoing trade tensions, including recently implemented tariffs on commodity imports and the potential for retaliatory tariffs. Individual stock performance saw CVS Health Corp. rallying by nearly 15% and Gilead Sciences Inc. increasing by 7.5%. Stocks in Spotlight: Honasa Consumer soared 12.53% after the company's consolidated net profit was reported at Rs 26.02 crore in Q3 FY25, up 0.46% compared with Rs 25.90 crore in Q3 FY24. Revenue from operations rose 6% to Rs 517.51 crore in Q3 FY25 compared with Rs 488.21 crore posted in corresponding quarter last year. Sanghvi Movers surged 10.38% after the company's consolidated net profit rose 13.56% to Rs 33.07 crore on 33.19% increase in revenue from operations to Rs 156.13 crore in Q3 FY25 over Q2 FY25. Bharat Forge slipped 2.49% after the company reported 8.4% fall in standalone net profit to Rs 346 crore on a 7.4% decline in total revenue to Rs 2,096 crore in Q3 FY25 as compared with Q3 FY24. Venus Pipes & Tubes advanced 2.12% after the company reported a 22.81% drop in net profit to Rs 17.97 crore in Q3 FY25, compared to Rs 23.28 crore recorded in Q3 FY24. However, revenue from operations advanced 11.67% to Rs 231.30 crore in the December quarter, compared with Rs 207.13 crore posted in Q3 FY24. Man Industries (India) rose 2.74% after the company reported 11.5% jump in consolidated net profit to Rs 34.1 crore despite a 12.1% fall in revenue from operations to Rs 731.9 crore in Q3 FY25 compared with Q3 FY24. SMS Lifesciences India rallied 3.79% after the company's consolidated jumped 17.71% to Rs 4.85 crore in Q3 FY25 as against Rs 4.12 crore posted in Q3 FY24. Revenue from operations was at Rs 84.60 crore in the third quarter of FY25, marking a growth of 17.41% compared with Rs 72.05 crore in Q3 FY24. SKF India slipped 3.20% after the firm reported a 17.1% decline in consolidated net profit to Rs 109.50 crore in Q3 FY25 as against Rs 132.15 crore posted in Q3 FY24. However, revenue from operations jumped 15% YoY to Rs 1,256.10 crore in the quarter ended 31 December 2024. Godawari Power and Ispat declined 1.34% after the company's consolidated net profit dropped 36.85% to Rs 144.78 crore on 0.86% decrease in revenue from operations to Rs 1,297.60 crore in Q3 FY25 over Q3 FY24. Natco Pharma hit a lower limit of 20% after the company's consolidated net profit declined 37.75% to Rs 132.4 crore on 37.41% drop in revenue from operations to Rs 474.8 crore in Q3 FY25 over Q3 FY24. NIBE tumbled 8.29% after the company's consolidated net profit declined 56.23% to Rs 1.93 crore in Q3 FY25 as against Rs 4.41 crore in Q3 FY24. Revenue from operations was at Rs 148.68 crore in Q3 FY25, zoomed 137.16% as against Rs 62.69 crore posted in same quarter last year. P N Gadgil Jewellers hit an upper circuit of 20% after the company's consolidated net profit jumped 49.36% to Rs 86.03 crore in Q3 FY25 as compared with Rs 57.60 crore in Q3 FY24. Revenue from operations jumped 23.51% YoY to Rs 2,435.75 crore in Q3 FY25. Balaji Amines slipped 3.50% after the company's consolidated net profit slipped 17.79% to Rs 33.19 crore on 18.42% drop in revenue from operations to Rs 312.73 crore in Q3 FY25 over Q3 FY24. PTC India rallied 3.95% after the company's consolidated net profit soared 86.63% to Rs 181.11 crore in Q3 FY25 as against Rs 97.04 crore posted in Q3 FY24. However, revenue from operations shed 0.21% to Rs 3,420.81 crore in Q3 FY25, compared with Rs 3,428.01 crore posted in the corresponding quarter previous year. Suven Pharmaceuticals jumped 5.82% after the company's consolidated net profit jumped 77.3% to Rs 82.88 crore in Q3 FY25 as compared with Rs 46.75 crore in Q3 FY24. Revenue from operations jumped 39.7% to Rs 307.15 crore in Q3 FY25 as compared with Rs 219.82 crore in Q3 FY24. Rites slipped 2.04%. The company said that it has signed a memorandum of understanding (MoU) with a Centre for Development of Advanced Computing (C-DAC) to collaborate on IT solutions for consultancy assignments. IPO Update: The initial public offer (IPO) of Hexaware Technologies received bids for 1,38,39,483 shares as against 9,14,23,354 shares on offer, according to stock exchange data at 17:00 IST on 13 February 2024. The issue was subscribed 15%. The issue opened for bidding on 12 February 2024 and it will close on 14 February 2024. The price band of the IPO is fixed between Rs 674 and Rs 708 per share. An investor can bid for a minimum of 21 equity shares and in multiples thereof. Powered by Capital Market - Live News
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