All the sectoral indices on the NSE traded in red.
At 13:25 IST, the barometer index, the S&P BSE Sensex, tumbled 1,002.87 points or 1.30% to 76,312.41. The Nifty 50 index dropped 313.85 points or 1.34% to 23,067.75.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 3.12%, and the S&P BSE Small-Cap index skid 3.53%.
The market breadth was weak. On the BSE, 502 shares rose and 3,404 shares fell. A total of 110 shares were unchanged.
Gainers & Losers:
Adani Enterprises (up 1.50%), Grasim Industries (up 0.80%) and Bharti Airtel (up 0.01%) were the major Nifty gainers.
Eicher Motors (down 6.33%), Apollo Hospital Enterprise (down 6.29%), Shriram Finance (down 4.39%), Bharat Electronics Limited (BEL) (down 3.29%) and Powergrid Corporation of India (down 3.05%) were the major Nifty losers.
Eicher Motors declined 6.33%. The company reported 17.5% jump in consolidated net profit to Rs 1170.50 crore in Q3 FY25 as compared with Rs 995.97 crore in Q3 FY24. Revenue from operations increased 18.8% YoY to Rs 4,888.11 crore in Q3 FY25.
Grasim Industries advanced 0.80%. The company’s consolidated net profit zoomed 130.56% to Rs 898.96 crore in Q3 FY25 as compared with Rs 389.90 crore in Q2 FY25. Revenue from operations increase 3.66% QoQ to Rs 34,792.85 crore in Q3 FY25.
Stocks in Spotlight:
TVS Supply Chain Solutions slipped 4.90% after the company reported consolidated net loss of Rs 24.65 crore in Q3 FY25 as against net profit of Rs 9.56 crore posted in corresponding quarter last year. Revenue from operations increased 10.02% YoY to Rs 2,444.62 crore during the quarter.
Bata India shed 0.24%. The company’s consolidated net profit rose 1.24% to Rs 58.69 crore in Q3 FY25 as against Rs 57.97 crore posted in Q3 FY24. Revenue from operations added 1.69% year on year (YoY) to Rs 918.79 crore in the quarter ended 31 December 2024.
Escorts Kubota declined 5.74%. The company reported 7.67% increase in standalone net profit from continuing operations to Rs 290.47 crore on 8.46% increase in revenue from operations to Rs 2,935.43 crore in Q3 FY25 as compared with Q3 FY24.
Orissa Minerals Development Company (OMDC) dropped 5.49% after the company reported consolidated net loss of Rs 7.49 crore in Q3 FY25 as against net profit of Rs 2.32 crore posted in corresponding quarter last year. Total income slipped 25.78% year on year (YoY) to Rs 21.16 crore in the third quarter of FY25.
FSN E-Commerce Ventures (Nykaa) rallied 2.33% to Rs 173.55 after the company’s consolidate net profit jumped 51.35% to Rs 26.41 crore on a 26.74% increase in revenue from operations to Rs 2,267.21 crore in Q3 FY25 over Q3 heFY24.
Global Markets:
US Dow Jones index futures were down 90 points, indicating a negative opening for US equities.
Most European market traded higher as investors digest the latest raft of tariffs introduced by U.S. President Donald Trump. Additionally, investors are awaiting earnings reports from Kering, BP, Dunelm, TUI Group, Ams-OSRAM and Unicredit. On the data front, French unemployment figures are due.
Most Asian stocks traded lower on Tuesday as investors remained cautious over Donald Trump’s latest tariff decisions. The U.S. President signed off on 25% tariffs on steel and aluminum imports, warning that more trade measures could follow.
On Monday, Trump formalized the tariffs through executive orders, stating that there would be no exceptions. While major steel exporters like Canada, Mexico, and Brazil had previously enjoyed some quota-based exemptions, those privileges are now revoked.
Trump hinted that tariffs on metals could go even higher and suggested he was considering duties on cars, semiconductors, and pharmaceuticals. He also proposed raising U.S. import tariffs to match the rates imposed by foreign countries on American goods.
In the U.S., the S&P 500 closed higher on Monday as a tech-driven rally, led by Nvidia, offset worries about Trump’s tariff threats. Investors also looked ahead to key economic data and Federal Reserve Chairman Jerome Powell’s testimony later in the week.
The Dow Jones Industrial Average rose 0.4%, the S&P 500 index gained 0.7%, and the NASDAQ Composite climbed 1%.
Nvidia jumped 3%, leading the tech sector higher after analysts described the stock as a buying opportunity following its recent dip. The optimism comes ahead of the company’s quarterly earnings report, set for release on February 26.
Fed Chair Jerome Powell is expected to face tough questions on the potential economic impact of tariffs when he delivers his semiannual monetary policy testimony before Congress on Tuesday and Wednesday.
Meanwhile, investors are closely watching U.S. consumer inflation data for January, scheduled for release on Wednesday. The report could influence the Fed’s stance on interest rates and shape market expectations in the coming weeks.