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Equity benchmarks snap eight-days losing run on value buying
Feb-17-2025

Snapping eight-days losing run, Indian equity benchmarks ended Monday's trading session in positive territory on the back of value buying in blue-chip stocks such as Bajaj Finserv and Indusind Bank. Markets made a negative start and extended their losses amid foreign fund outflows. In afternoon, indices managed to come off from their day’s lows and recovered sharply to end in green terrain.

Some of the important factors in today’s trade:

Impact of U.S. tariff reciprocity on Indian exports likely to be minimal: Sentiments got some support as a report by State Bank of India said that the impact of U.S. tariff reciprocity on Indian exports is expected to be minimal, despite concerns over trade restrictions.

New Income Tax Bill to simplify tax structure, boost MSMEs growth: Traders took a note of the Institute of Chartered Accountants of India’s (ICAI) statement that the new Income Tax Bill will simplify the country's six-decade old tax structure as well as help boost growth of MSMEs. 

Significant foreign fund outflows: Foreign institutional investors (FIIs) offloaded equities worth Rs 4,294.69 crore in the capital markets on a net basis on Friday, according to exchange data. The total outflow by FPIs has reached Rs 99,299 crore -- near Rs 1 lakh crore -- in 2025 so far.

Rupee weakened against US dollar: The rupee depreciated 17 paise to close at 86.88 (provisional) against the US dollar, weighed down by significant foreign fund outflows and a recovery in the US dollar index from intraday lows.

On the global front: European markets were trading higher with investors picking up stocks while closely following the developments on the geopolitical front, and continuing to assess the potential impact of the Trump administration's trade and economic policies. Asian markets ended mostly higher with Hong Kong's tech sector taking the spotlight. Positive Japanese economic growth also aided sentiments.

Finally, the BSE Sensex rose 57.65 points or 0.08% to 75,996.86, and the CNX Nifty was up by 30.25 points or 0.13% to 22,959.50.      

The BSE Sensex touched high and low of 76,041.96 and 75,294.76 respectively. There were 20 stocks advancing against 10 stocks declining on the index.

The broader indices ended mixed; the BSE Mid cap index rose 0.51%, while Small cap index was down by 0.56%.

The top gaining sectoral indices on the BSE were Healthcare up by 1.14%, Consumer Durables up by 0.90%, Energy up by 0.89%, Utilities up by 0.79% and Metal up by 0.76%, while Telecom down by 1.06%, TECK down by 1.02%, IT down by 0.68%, Industrials down by 0.62% and Capital Goods down by 0.50% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finserv up by 2.83%, Indusind Bank up by 2.31%, Power Grid Corporation up by 2.25%, Adani Ports & SEZ up by 1.83% and Ultratech Cement up by 1.81%. On the flip side, Mahindra & Mahindra down by 3.75%, Bharti Airtel down by 2.42%, TCS down by 0.75%, Infosys down by 0.74% and ICICI Bank down by 0.57% were the top losers.

Meanwhile, highlighting India's economic strength, Union Minister Ashwini Vaishnaw has said that the country remains the fastest-growing large economy while keeping inflation under control. He projected a steady growth economic growth of 6 to 8 per cent in upcoming years owing to government policies that prioritize the welfare of lower-income and middle-income families including the major tax relief given this year for annual income up to Rs 12 lakh.

Recently, Vaishnaw informed about a major investment of over Rs 10000 crore in India from Lam Research, a US-based semiconductor services company. The investment is expected to add significant boost to India's semiconductor ambitions, which aims to build a sustainable semiconductor and display ecosystem in the country. The government has approved five projects under Indian Semiconductor Mission, with an outlay of Rs 76000 crore.

The Indian semiconductor market is estimated to grow to $103.4 billion by 2030, driving the electronics market to grow to $400 billion. The government's targeted incentives for fabrication facilities and outsourced semiconductor assembly and testing increased R & D investments, and collaborative industry initiatives are key to propelling India's semiconductor sector forward.

The CNX Nifty traded in a range of 22,974.20 and 22,725.45. There were 34 stocks advancing against 16 stocks declining on the index. 

The top gainers on Nifty were Adani Enterprises up by 3.93%, Bajaj Finserv up by 2.65%, Indusind Bank up by 2.53%, Power Grid Corporation up by 2.23% and Adani Ports & SEZ up by 2.11%. On the flip side, Mahindra & Mahindra down by 3.45%, Bharti Airtel down by 2.36%, Infosys down by 0.72%, TCS down by 0.68% and ICICI Bank down by 0.67% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 21.76 points or 0.25% to 8,754.22, France’s CAC rose 1.82 points or 0.02% to 8,180.36 and Germany’s DAX gained 167.89 points or 0.74% to 22,681.31.

Asian markets settled mostly higher on Monday as Japan’s better than expected economic growth figures bolstered expectations of interest-rate hikes from the Bank of Japan, while markets awaited a slew of central bank decisions from the region this week. Chinese shares rose after Goldman Sachs raised its target price, estimating that AI adoption could boost earnings growth and potentially bring in $200 billion of inflows. But caution remains among investors due to rising tensions between the US and the European Union over tariffs and the ongoing conflict in Ukraine.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,355.83

9.11

0.27

Hang Seng

22,616.23

-4.10

-0.02

Jakarta Composite

6,830.88

192.42

2.82

KLSE Composite

1,582.76

-8.84

-0.56

Nikkei 225

39,174.25

24.82

0.06

Straits Times

3,904.85

27.35

0.70

KOSPI Composite

2,610.42

19.37

0.74

Taiwan Weighted

23,505.33

352.72

1.50
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