The key equity indices erased all the gains and traded with substantial losses in the mid-morning trade. The Nifty traded below the 22,900 level after hitting the day's high of 23,133.70 in early trade. Pharma shares declined after advancing in the past trading session.
At 11:30 IST, the barometer index, the S&P BSE Sensex, slipped 441.78 points or 0.58% to 75,697.19. The Nifty 50 index declined 165.80 points or 0.72% to 22,865.60.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 2.33%, and the S&P BSE Small-Cap dropped 2.82%.
The market breadth was weak. On the BSE, 688 shares rose and 3,033 shares fell. A total of 127 shares were unchanged.
IPO Update:
The initial public offer (IPO) of Quality Power Electrical Equipments received bids for 12,87,572 shares as against 1,11,12,530 shares on offer, according to stock exchange data at 11:15 IST on 14 February 2025. The issue was subscribed to 0.12 times.
The issue opened for bidding on 14 February 2025 and it will close on 18 February 2025. The price band of the IPO is fixed between Rs 401 and Rs 425 per share. An investor can bid for a minimum of 26 equity shares and in multiples thereof.
The initial public offer (IPO) of Hexaware Technologies received bids for 1,84,02,153 shares as against 9,14,23,354 shares on offer, according to stock exchange data at 11:15 IST on 14 February 2025. The issue was subscribed to 0.20 times.
The issue opened for bidding on 12 February 2025 and it will close on 14 February 2025. 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.
Buzzing Index:
The Nifty Pharma index dropped 2.50% to 20,891. The index advanced 1.35% in the past trading session.
Natco Pharma (down 9.8%), Laurus Labs (down 7.13%), Glenmark Pharmaceuticals (down 5.38%), Lupin (down 4.69%), Granules India (down 4.36%), Aurobindo Pharma (down 4.15%), Torrent Pharmaceuticals (down 3.31%), Mankind Pharma (down 3.25%), Zydus Lifesciences (down 2.98%) and Ipca Laboratories (down 2.79%) declined.
Stocks in Spotlight:
Senco Gold hit a lower circuit 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.
Gujarat Pipavav Port slipped 1.26% after the company’s consolidated net profit fell 14.38% to Rs 99.37 crore on 2.49% declined in revenue from operations to Rs 262.89 crore in Q3 FY25 over Q3 FY24.
Titagarh Rail Systems (TSRL) fell 5.73% after the company's standalone net profit dropped 8.12% to Rs 68.94 crore on 5.5% decrease in revenue from operations to Rs 902.18 crore in Q3 FY25 over Q3 FY24.
Global Markets:
Asian stocks climbed 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.