Back

Market Commentary - Mid-Session

Nifty slides below 23,300; realty shares tumble

11-Feb-2025, 10:36
The headline equity benchmarks traded with limited losses in the morning trade as investors remained cautious following Trump's decision to impose a 25% tariff on steel and aluminum imports, with the possibility of additional trade measures. The market sentiment was further subdued by continued selling from foreign institutional investors (FIIs). The Nifty traded below the 23,300 level. Realty shares extended losses for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, slipped 303.36 points or 0.38% to 77,011.37. The Nifty 50 index lost 97.85 points or 0.42% to 23,283.75.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.98%, and the S&P BSE Small-Cap index dropped 2.51%.

The market breadth was weak. On the BSE, 627 shares rose and 2,934 shares fell. A total of 150 shares were unchanged.

Result Today:

Ashiana Housing (down 3.77%), Astrazeneca Pharma India (down 1.49%), Awfis Space Solutions (down 3%), Bayer Cropscience (down 0.87%), Berger Paints India (down 1.26%), BLS International Services (down 1.60%), Birlasoft (down 1.28%), Campus Activewear (down 3.08%), Cello World (down 2.49%), Cera Sanitaryware (down 1.96%), Dalmia Bharat Sugar and Industries (down 2.05%), Devyani International (down 0.42%), EID-Parry (India) (down 2.31%), EIH (down 7.37%), EPL (down 0.37%), Gensol Engineering (down 3.50%), Gujarat Alkalies & Chemicals (down 3%), HEG (down 3.17%), Huhtamaki India (down 1.55%), Indo Count Industries (down 3.42%) and Vodafone Idea (down 2.19%) will declare their quarterly earnings later today.

Buzzing Index:

The Nifty Realty index dropped 2.83% to 865.10. The index dropped 5.73% in two consecutive trading sessions.

Phoenix Mills (down 4.76%), Sobha (down 4.4%), Oberoi Realty (down 4.34%), Raymond (down 3.42%) and Mahindra Lifespace Developers (down 3.04%) were the top losers. Among the other losers were Godrej Properties (down 2.72%), Prestige Estates Projects (down 2.69%), DLF (down 2.34%), Brigade Enterprises (down 1.69%) and Macrotech Developers (down 1.3%).

Stocks in Spotlight:

Bata India rose 0.84%. The company's consolidated net profit rose 1.2% to Rs 58.70 crore in Q3 FY25 as compared with Rs 57.98 crore in Q3 FY24. Net sales increased 1.7% YoY to Rs 918.79 crore in Q3 FY25.

FSN E-Commerce (Nykaa) rose 1.68% after the company reported 61.3% jump in consolidated net profit to Rs 26.12 crore in Q3 FY25 as compared with Rs 16.19 crore in Q3 FY24. Net sales increased 26.7% YoY to Rs 2,267.21 crore during the quarter.

Lupin declined 3.50%. The company has received approval from US Food and Drug Administration (USFDA) for its abbreviated drug application for Ipratropium Bromide Nasal Solution.