On February 3, the Indian stock market experienced a downturn, with the Nifty index closing around 23,350, indicating a notable decline. Similarly, the Sensex also fell by 300 points. This slump was observed across most sectors, with significant drops in key indices. The BSE Midcap index saw a decrease of 1.2 percent, and the smallcap index experienced an even sharper fall, nearing 2 percent. This downturn reflects a challenging day for investors, with broad market indicators pointing to widespread bearish sentiment.
Despite the general downturn, Consumer Durables and IT sectors managed to buck the trend, showcasing resilience amidst a largely negative market environment. This divergence highlights the sectors' relative strength on a day when most other sectors faced downward pressure. In contrast, the capital goods index suffered the most, plummeting by 4 percent. Additionally, sectors such as metal, oil & gas, power, and PSU also witnessed significant declines, ranging between 2 to 3 percent. This sectoral performance paints a picture of a market grappling with sector-specific challenges, with only a few managing to navigate the turbulence successfully.
The performance of individual stocks further underscored the day's market dynamics, with notable differences between the day's winners and losers. Among the Nifty's top performers were Bajaj Finance, M&M, Wipro, Shriram Finance, and Maruti Suzuki. These companies managed to secure gains against the odds, demonstrating strength in a tough market environment. On the flip side, the biggest losers for the day included prominent names such as L&T, ONGC, Bharat Electronics, Hero MotoCorp, and Coal India. Their decline contributed significantly to the overall bearish sentiment, highlighting the challenges faced by these sectors.
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Feb 03, 2025, 3:38 pm IST
Aditya Birla Capital Reports Q3 Net Profit of ₹708 Crore, Down 4% Year on Year
Aditya Birla Capital Ltd, a significant player in the financial sector, reported a slight decrease in its net profit for the quarter ending December 2024. The company announced a consolidated net profit of ₹708 crore, marking a 4% drop from the ₹735.78 crore recorded in the corresponding quarter of the previous year. Despite this dip in profit, Aditya Birla Capital showcased a robust performance in terms of income from operations. During the October-December 2024 period, the income surged by nearly 17% to ₹4373.89 crore, up from ₹3747.45 crore in the same quarter of 2025.
Feb 03, 2025, 3:11 pm IST
MCX Gold Rate Reaches New Peak Amid US Dollar Decline
Today, the gold market experienced a notable upsurge, with the price reaching an unprecedented high of ₹82,815 per 10 grams on the Multi Commodity Exchange (MCX). This peak was attributed to a downturn in the US dollar's strength, following a period of profit-booking. Initially, gold prices saw a downturn at the opening bell due to a surge in the US dollar rates and the implementation of new tariffs in Canada and Mexico. However, the situation reversed as the day progressed, leading to a significant increase in gold prices. This trend was particularly evident during the early morning session on Monday, where, despite a weak start, the precious metal saw a robust buying interest, propelling it to new heights.
Divi's Laboratories showcased a remarkable increase in its consolidated net profit for the third fiscal quarter ending December (Q3FY25), with a surge of 64.5% to ₹589 crore, compared to ₹358 crore in the same quarter the previous year. This growth reflects a robust fiscal performance, marking a 15.5% rise from the preceding quarter. Amidst this financial growth, Divi's Lab's share price observed a nearly 4% increase, trading at ₹5835.65 each on the BSE as of 13:22.
The company's revenue from operations also witnessed a significant boost, recording a 25.01% year-on-year increase to ₹2,319 crores during Q3FY25, up from ₹1,855 crore in the corresponding quarter last year. However, it's noteworthy that there was a marginal decline of nearly 1% in revenue sequentially. The profit before tax (PBT) for the quarter stood at ₹726 crore, a substantial rise from ₹489 crore reported for the same period last year. This financial achievement underscores the company's robust growth trajectory and operational efficiency.
Feb 03, 2025, 1:25 pm IST
Big Win for Swan Energy: Rs 111 Crore Order Achieved
Swan Energy has secured a significant order valued at Rs 111 crore. This development marks a notable achievement for the company, reflecting its growing influence in the industry. The order is expected to bolster Swan Energy's portfolio and enhance its market presence.
Order Details and Impact
The newly acquired order is anticipated to contribute positively to Swan Energy's financial performance. By securing this contract, the company aims to strengthen its position and expand its reach within the sector. This move aligns with Swan Energy's strategic objectives of growth and diversification.
Swan Energy has been actively pursuing opportunities that align with its long-term vision. The recent order is a testament to the company's commitment to delivering quality services and products. It also highlights Swan Energy's ability to compete effectively in a competitive market environment.
Feb 03, 2025, 12:30 pm IST
Crypto Market Crashes: Bitcoin and Ethereum Face Major Losses
On Monday, cryptocurrency markets experienced a significant downturn, highlighted by a steep decline in Bitcoin and Ethereum prices. This selloff was triggered by US President Donald Trump's decision to implement tariffs on imports from Canada, Mexico, and China, leading investors to shed assets perceived as risky. Bitcoin's value plummeted by up to 6 percent, reaching close to ,000, while Ethereum suffered a dramatic 27 percent drop, marking its largest intraday fall since 2021. This decline extended to other cryptocurrencies as well, with Ripple-linked XRP falling by 17 percent to .20.
Feb 03, 2025, 12:28 pm IST
Jefferies Confirms 'Buy' Rating and Sets Target at Rs 550
Jefferies has maintained its 'buy' recommendation for ITC, setting a target price of Rs 550. This decision reflects confidence in ITC's performance and potential growth. The investment firm believes that ITC's diverse business portfolio, which includes cigarettes, FMCG, hotels, paperboards, and packaging, positions it well for future success.
ITC's Diverse Business Portfolio
ITC's wide-ranging business interests are seen as a key strength. The company operates in various sectors such as fast-moving consumer goods (FMCG), hospitality, and packaging. This diversification helps mitigate risks associated with any single industry downturn. Jefferies highlights this as a significant factor in its positive outlook for ITC.
Feb 03, 2025, 11:42 am IST
Metal Sector in Focus
On February 3, Indian metal stocks experienced a sharp decline due to the escalation of a global trade war. This followed US President Donald Trump's announcement of extensive tariffs on trading partners, including China. The Nifty Metal index dropped by 3.6% during intraday trading, reaching a low of 8,000. All fifteen index components were in negative territory, with SAIL, JSW Steel, Hindustan Copper, and National Aluminium suffering losses between 2% and 5.4%.
The Trump administration declared a 25% tariff on goods from Canada and Mexico on Saturday. Additionally, Chinese goods will face an extra 10% tariff starting Tuesday. This action is part of Trump's strategy to address what he describes as a national emergency caused by fentanyl and illegal immigration into the US.
Feb 03, 2025, 11:05 am IST
India's January manufacturing activity growth reached a 6-month high
India's manufacturing sector began 2025 with a strong performance, expanding at its fastest rate in six months during January. This growth was largely driven by robust demand and increased production, according to a private survey released on Monday. The positive trend encouraged companies to hire at an unprecedented rate, offering some relief to Asia's third-largest economy, which has been experiencing slower growth due to weak consumption.
The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, rose to 57.7 in January from December's 12-month low of 56.4. Although slightly below the earlier prediction of a 58.0 percent increase, this indicates a significant improvement. New orders, reflecting overall demand, surged at the highest rate since July, partly due to strong export orders that grew at their fastest pace in nearly 14 years.
Feb 03, 2025, 10:45 am IST
Indian Rupee Hits Record Low Against US Dollar
In the early trading hours, the value of the Indian Rupee plummeted, setting a new record low by dropping to 87.1100 when matched against the US dollar. This decline was a significant shift from its last closing position, where it stood at 86.6162 against the greenback.
Feb 03, 2025, 10:14 am IST
RBI MPC Meeting
The Monetary Policy Committee (MPC) is scheduled to convene from February 5 to 7. This meeting, led by Sanjay Malhotra, the new governor of the Reserve Bank of India (RBI), may result in a rate cut. The MPC's decision on the repo rate will be announced on February 7.
As this is the first MPC under Malhotra's leadership, there is anticipation surrounding potential changes. Market analysts expect a reduction in the repo rate, which is the RBI's benchmark lending rate. A cut of 25 basis points (bps) from 6.5 percent to 6.25 percent is anticipated.
Feb 03, 2025, 9:58 am IST
Stock Market Live Updates: Gold Rates In India Today
Gold Prices in India Today Decline After jumping to Record Highs Amid Global Trade Tension. On 3rd February 2025, 22-carat gold rates in India slipped by Rs 400 per 10 grams to cost Rs. 77,050, while the 24-carat gold rates declined by Rs.440 to retail at Rs. 84,040 per 10 grams.
Feb 03, 2025, 9:30 am IST
Stock Market Live Updates: Sensex and Nifty Slips
The stock market opened in the red this morning following the Union Budget announcement. The Sensex dropped 695 points to 76,811.86, while the Nifty fell 222 points to 23,254.70.
Feb 03, 2025, 9:23 am IST
Stock Market Live Updates: Rupee Hits All-Time Low
The Indian Rupee opened at a record low of 86.93 this morning, following Friday's close at 86.61, marking a significant drop as it continues to face pressure amid global market challenges.
Feb 03, 2025, 9:13 am IST
Stock Market Live Updates: Nifty Technical Outlook
“Nifty is expected to open on a gap down note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate support at 23340. If nifty closes below that, further downside can be expected towards 23270-23200 mark. On the flip side 23570-23640 will act as strong resistance levels. It’s a stock specific market trade calls with strict stop loss.” By Nirmal Bang Research
Feb 03, 2025, 9:09 am IST
Stock Market Live Updates: Asian Markets Slide
Asian markets opened lower on Monday, tracking weak global cues as investor sentiment remained cautious amid economic uncertainties and trade concerns. Japan's Nikkei 225 led the losses, plunging 2.42% to 38,612.96, while South Korea's Kospi tumbled 3.06% to 2,440.29. The Hang Seng Index (HSI) fell 0.93%, and Shanghai Composite dipped 0.06%, reflecting broader market weakness. Australia’s ASX 200 slid 1.82%, while China’s Shenzhen Component lost 1.33%. The decline was driven by weak Wall Street cues, geopolitical tensions, and concerns over economic growth.
Feb 03, 2025, 8:56 am IST
Stock Market Live Updates: US Market Slumps
On Saturday, Trump announced a 25% tariff on imports from Mexico and Canada, along with a 10% levy on Chinese goods, escalating trade tensions and raising fears of a broader economic slowdown. The immediate impact of these tariffs was felt in US stock markets, which ended in the red on Friday amid investor concerns over disruptions in global trade. The Dow Jones Industrial Average (DJIA) Fell 0.75% to 44,544.66. NASDAQ Composite Declined 54.31 points (-0.28%) to 19,627.44. While the S&P 500 Dropped 30.64 points (-0.50%) to 6,040.53
Market analysts warn that prolonged trade disputes could impact corporate earnings, disrupt supply chains, and create additional market volatility in the coming days.
Feb 03, 2025, 8:49 am IST
Stock Market Live Updates: Markets On The Budget Day
Indian stock markets experienced significant volatility on Budget Day as investors reacted to key announcements made by Finance Minister Nirmala Sitharaman. Despite expectations of a market boost, the benchmark indices remained choppy throughout the session,The Union Budget 2025 outlined several measures aimed at strengthening the economy, including tax relief initiatives, higher capital expenditure, and support for key sectors such as infrastructure, manufacturing, and agriculture. By the close of trading, the Sensex managed to inch up 5.39 points (0.01%), settling at 77,505.96, while the Nifty 50 ended the session down by 26.25 points (0.11%) at 23,482.15.
Feb 03, 2025, 8:49 am IST
All Focus on Sensex, Nifty for Market Direction
Good morning! Welcome to our Stock Market Live Blog, your one-stop destination for all the latest updates from Dalal Street. With Sensex and Nifty leading the action, we’ll keep you posted on every market move, key trends, and expert insights throughout the day.
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