| The key equity indices ended with strong gains on Tuesday, fueled by the U.S. decision to delay its planned tariffs on Canada and Mexico, providing a temporary reprieve from escalating trade tensions. This move was viewed as a positive development in alleviating trade concerns and boosting market sentiment. The focus has now shifted to the upcoming RBI monetary policy decision on February 7. The Nifty settled above the 23,700 level. Barring the FMCG index, all the other sectoral indices on the NSE were ended in green.
As per provisional closing, the S&P BSE Sensex, soared 1,397.07 points or 1.81% to 78,583.81. The Nifty 50 index rallied 378.20 points or 1.62% to 23,739.25.
In the broader market, the S&P BSE Mid-Cap index rose 1.35% and the S&P BSE Small-Cap index added 1.20%.
The market breadth was strong. On the BSE, 2,514 shares rose and 1,405 shares fell. A total of 154 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.33% to 14.02.
New Listing:
Shares of Dr. Agarwals Health Care were at Rs 401.55 on the BSE, representing a discount of 0.11% as compared with the issue price of Rs 402.
The scrip was listed at Rs 396.90, exhibiting a discount of 1.27% to the issue price.
The stock has hit a high of 412.75 and a low of 370.10. On the BSE, over 12.35 lakh shares of the company were traded in the counter
Buzzing Index:
The Nifty Oil & Gas index added 2.70% to 10,481.65. The index shed 0.76% in the past two consecutive trading sessions.
Aegis Logistics (up 12.22%), Castrol India (up 6.65%), Reliance Industries (up 3.01%), Indian Oil Corporation (up 2.93%), Hindustan Petroleum Corporation (up 2.74%), Oil India (up 2.74%), Bharat Petroleum Corporation (up 2.58%), Oil & Natural Gas Corpn (up 2.15%), GAIL (India) (up 2.01%), and Mahanagar Gas (up 1.41%) added.
Stocks in Spotlight:
Asian Paints rallied 2.41% after the company’s consolidated net profit surged 59.86% to Rs 1,110.48 crore on 6.47% rise in revenue from operations to Rs 8,521.51 crore in Q3 FY25 over Q2 FY25.
Adani Ports and Special Economic Zone added 3.71% after the firm delivered the highest ever monthly cargo volume of 39.9 MMT in January 2025, higher by 13% on a year-on-year (YoY) basis.
Poly Medicure jumped 6.36% after its consolidated net profit grew 31.08% to Rs 85.23 crore on 24.92% rise in revenue from operations to Rs 424.21 crore in Q3 FY25 over Q3 FY24.
Gland Pharma fell 2.64%. The company's consolidated net profit increased 6.67% to Rs 204.70 crore despite a 10.42% decline in revenue from operations to Rs 1,384.1 crore in Q3 FY25 over Q3 FY25.
Godrej Properties added 2.99% after the real estate major's net profit surged 161% to Rs 163 crore while total income jumped 133% to Rs 1,222 crore in Q3 December 2024 (Q3 FY25) over Q3 December 2023 (Q3 FY24).
Meanwhile, the company has set a booking value target of Rs 27,000 crore for FY25. In the nine-month period ended December 2024 (9M FY25), the firm achieved bookings of Rs 19,281 crore, representing 71% of their target.
Castrol India jumped 6.40% after the company reported a 12.2% rise in net profit to Rs 271.39 crore on a 7.1% increase in net sales to Rs 1353.89 crore in Q3 FY25 as compared with Q3 FY24.
Shalby slipped 2.73% after the company reported a consolidated net loss of Rs 1.81 crore for Q3 FY25, compared to a net profit of Rs 19.07 crore posted in Q3 FY24. Revenue from operations jumped 27.6% YoY to Rs 275.63 crore in the quarter ended 31 December 2024.
NLC India rallied 7.43% after the company's consolidated net profit surged 166.79% to Rs 668.09 crore on 39.41% rise in revenue from operations to Rs 4,411.41 crore in Q3 FY25 over Q3 FY24.
Doms Industries advanced 3.09% after the company reported a 35.9% surge in consolidated net profit to Rs 50.73 crore in Q3 FY25 as against 37.34 crore posted in Q3 FY24. Revenue from operations jumped 34.8% YoY to Rs 501.11 crore in the quarter ended 31 December 2024.
Garden Reach Shipbuilders & Engineers (GRSE) added 0.82%. The company's net profit climbed 11.26% to Rs 98.19 crore on a 37.69% rise in revenue from operations to Rs 1,271 crore in Q3 FY25 over Q3 FY24.
Meanwhile, the board has declared an interim dividend of Rs 8.95 per share, as on the record date, i.e., 7 February 2025.
Global Markets:
European stocks traded lower on Tuesday as investors continued to monitor developments in U.S. trade policy under newly inaugurated President Donald Trump.
Asian markets ended higher after U.S. President Donald Trump paused tariffs on Mexico for a month. Canada also confirmed that Trump had put proposed tariffs on its exports on hold.
Administration's warning that tariffs on China could increase if a trade deal addressing trade imbalances and fentanyl trafficking is not reached.
Uncertainty surrounding trade policies remains a key concern for investors, particularly given the expressed intent to impose additional tariffs, including a proposed 10% universal tariff.
The Canadian Prime Minister stated on Monday that the U.S. had agreed to a 30-day delay on planned tariffs following a meeting between the two leaders. This announcement came shortly after a similar 30-day delay on tariffs against Mexico was announced after a call between the U.S. and Mexican leaders. However, tariffs on China are still scheduled to take effect on Tuesday. China has expressed strong opposition to these tariffs and vowed to retaliate.
Over the weekend, tariffs were announced: 25% on Canada and Mexico, and 10% on China (with a reduced 10% tariff on Canadian oil).
U.S. stock indices experienced sharp declines on Monday following the tariff announcements but recovered from their session lows after the tariff delays were announced. The S&P 500 closed down 0.8%, the NASDAQ Composite fell 1.2%, and the Dow Jones Industrial Average decreased by 0.3%.
In addition to earnings reports, this week's focus is on the January nonfarm payroll data, which is due on Friday and is expected to influence interest rate expectations.
|