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Markets make significant recovery in late trade; continue to trade in red
Feb-17-2025

The Indian equity indices pared most of their losses made in early trade, but remained volatile with key indices jumping back and forth. Traders remained cautious amidst uncertainties surrounding US reciprocal tariffs, persistent selling by FIIs and weakening rupee against dollar. The Indian bourses also experienced global investors picking Chinese equities over Indian owing to bullish sentiments on DeepSeek AI driven technology and better overall valuations. In past month, Chinese equity markets added more than $1.3 trillion in total value, while Indian markets lost more than $720 billion. However, market participants took some support with rising expectations of RBI’s early rate in April, cooling crude prices and easing geopolitical tensions in Europe as Ukraine-Russia war may end. On the global front, Asian and European stock markets were trading in green, amidst easing concerns over a global trade war after U.S. President Donald Trump decided to delay the implementation of new reciprocal tariff plans. Back home, the Small caps stocks took the most hit and trading lower by 0.88% with Zentec, KFintech pulling down the index.

The BSE Sensex is currently trading at 75825.76, down by 113.45 points or 0.15% after trading in a range of 75294.76 and 76023.73. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading in mix; the BSE Mid cap index up by 0.08%, while Small cap index was down by 0.88%.

The top gaining sectoral indices on the BSE were Healthcare up by 0.94%, Energy up by 0.45%, Consumer Durables up by 0.33%, Utilities up by 0.30% and Power up by 0.24%, while TECK down by 1.03%, Telecom down by 0.94%, Industrials down by 0.88%, IT down by 0.87%, Auto down by 0.82% were the top losing indices on BSE.

The top gainers on the Sensex were Power Grid Corporation of India up by 2.37%, Indusind Bank up by 2.08%, Bajaj Finserv up by 1.77%, Ultratech Cement up by 1.57% and Adani Ports up by 1.12%. On the flip side, Mahindra & Mahindra down by 4.10%, Bharti Airtel down by 1.41%, Infosys down by 0.96%, ICICI Bank down by 0.86% and Axis Bank down by 0.68% were the top losers.

Meanwhile, few days after the announcement of the Union Budget, Union Minister Jitendra Singh has hailed the Budget 2025-26 as a reflection of Prime Minister Narendra Modi’s forward-looking vision for India. He described it as a roadmap for a technologically advanced and self-reliant nation, underscoring its role in shaping the country’s future. 

Union Minister further commended the Budget’s groundbreaking initiatives, particularly its focus on technological innovation and energy independence. He highlighted the historic decision to allow private sector participation in the nuclear industry, calling it a game-changer for India’s energy sector. He noted that these measures would not only help achieve energy self-sufficiency but also propel India toward global leadership in advanced nuclear technology by 2047.

Besides, Singh emphasized the government’s commitment to establishing nuclear power as a cornerstone of India’s energy strategy. He said the introduction of the ‘Nuclear Energy Mission for Viksit Bharat’ outlines a comprehensive plan to enhance domestic nuclear capabilities, foster private sector participation, and deploy advanced nuclear technologies. 

Reflecting on the success of opening the space sector to private players, Minister expressed confidence that similar reforms in the nuclear sector will accelerate growth and innovation. He noted that for decades, the nuclear industry operated under stringent regulations, but recent policy shifts aim to foster greater openness and collaboration, aligning with the vision of Aatmanirbhar Bharat.

The CNX Nifty is currently trading at 22901.35, down by 27.90 points or 0.12% after trading in a range of 22725.45 and 22959.35. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 2.27%, Indusind Bank up by 2.00%, Power Grid Corporation of India up by 2.00%, Shriram Finance up by 1.85% and Bajaj Finserv up by 1.65%. On the flip side, Mahindra & Mahindra down by 4.17%, Bharti Airtel down by 1.75%, Bharat Electronics down by 1.40%, Wipro down by 1.20% and Infosys down by 1.06% were the top losers.

Asian markets are trading mostly in green; Jakarta Composite gained 187.21 points or 2.74% to 6,825.67, Nikkei 225 surged 24.82 points or 0.06% to 39,174.25, KOSPI increased 19.37 points or 0.74% to 2,610.42, Shanghai Composite strengthened 9.11 points or 0.27% to 3,355.83, Taiwan Weighted added 352.72 points or 1.5% to 23,505.33 and Straits Times rose 23.17 points or 0.6% to 3,900.67, while Hang Seng declined 4.1 points or 0.02% to 22,616.23.

European markets were trading mostly in green; UK’s FTSE 100 increased 6.26 points or 0.07% to 8,738.72 and Germany’s DAX gained 65.57 points or 0.29% to 22,578.99, while France’s CAC fell 7.1 points or 0.09% to 8,171.44.
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