India Stocks Review
End down as major earnings disappoint; Trent falls 8%
This story was originally published at 17:13 IST on 6 February 2025
Register to read our real-time news.Informist, Thursday, Feb. 6, 2025
By Akash Mandal
MUMBAI – Benchmark indices closed lower Thursday, led by losses in select stocks such as Trent, Bharti Airtel, ITC, and State Bank of India. These companies either reported or will report earnings on Thursday. Investors were also cautious with their bets ahead of the outcome of the Reserve Bank of India's monetary policy meeting due Friday. Investors have priced in a 25 basis point rate cut, analysts said. Analysts also said the weekly expiry of the futures contracts of the Nifty 50 did not affect the market much.
Trent plunged over 8% after reporting underwhelming earnings for the December quarter. Though SBI's earnings beat analysts' estimates, the stock fell nearly 2% as the bank's net interest income rose just 4% on year and the provisions for bad loans soared 31% on year. Bharti Airtel and ITC will report their earnings later in the day. Together, these stocks dragged down the Nifty 50 by 0.3%.
The Nifty 50 ended at 23603.35 points, down 92.95 points or 0.4%, and the BSE Sensex closed at 78058.16 points, down 213.12 points or 0.3%. Indices fell as much as 0.5% during the session but pared some losses later. Broader market indices also fell after ending sharply higher on Wednesday. The Nifty Smallcap and Nifty Midcap indices ended flat to 1.3% lower.
Most sectoral indices ended in the red with Nifty Pharma, Nifty Private Bank, Nifty IT, Nifty Healthcare, and Nifty Bank being the only ones to end in the green. Pharmaceutical and healthcare stocks were the biggest winners, with Abbott India, Natco Pharma, and Alkem Laboratories ending 3-5% higher. Zydus Lifesciences gained over 3% after the company said it would raise its capital expenditure by 20-30% over the next two years. Cipla rose over 2% and was the top gainer on the Nifty 50.
On the other hand, Nifty Realty was the worst hit among the sectoral indices, declining over 2%. Macrotech Developers and The Phoenix Mills declined around 5% and 4%, respectively. Most fast-moving consumer goods stocks fell for the fourth straight session. Consumer durables stocks also declined. Kalyan Jewellers India, Voltas, and Dixon Technologies (India) ended 3-5% lower. FMCG stocks have been declining since the Union Budget on Saturday, with analysts saying that income tax relief announced in the Budget may not lead to any major growth in volumes for FMCG companies, as consumers would shift to consumer durables instead.
Among individual stocks, Page Industries fell nearly 4% despite its net profit for the December quarter beating estimates. The company said the sector faces near-term headwinds due to weak consumer sentiment. Solar Industries India fell nearly 6% after the company lowered its sales volume guidance to 8-10% for 2024-25 (Apr-Mar) from 15%. CCL Products (India) fell nearly 5% after the company reported a consolidated net profit of INR 630.44 million for the quarter, lower than analysts' estimates of INR 669.60 million. BSE also fell almost 5% ahead of its earnings.
On the other hand, GlaxoSmithKline Pharmaceuticals gained over 13% and was the top gainer on the Nifty 500. Its UK-based parent GSK Plc.'s sales for the December quarter beat estimates, and the company launched a share buyback worth 2 billion pounds ($2.5 billion) Wednesday, Reuters reported. Castrol India ended over 8% higher, gaining over 19% in the last three sessions.
* Of the Nifty 50 stocks, 20 rose and 30 fell (According to the NSE website)
* Of the Sensex stocks, 10 rose and 20 fell
* On the NSE, 1,334 stocks rose, 1,495 fell, and 76 were unchanged
* On the BSE, 1,908 stocks rose, 2,030 fell, and 125 were unchanged
* Nifty Pharma: up 0.6%; Nifty Private Bank: up 0.3%; Nifty Realty: down 2.2%
BSE NSE
Sensex: 78058.16 points, down 213.12 points or 0.3% 23603.35 points, down 92.95 points or 0.4%
S&P BSE Sensitive Index | Nifty 50 |
Lifetime High: 85978.25 (Sept. 27, 2024) | : Lifetime High: 26277.35 (Sept. 27, 2024) |
Record Close High: 85836.12 (Sept. 26, 2024) | : Record Close High: 26216.05 (Sept. 26, 2024) |
2025 1st day close: 78507.41 (Jan. 1) | : 2025 1st day close: 23742.90 (Jan. 1) |
2025 Closing High: 79943.71 (Jan. 2) | : 2025 Closing High: 24188.65 (Jan. 2) |
2025 Closing Low: 75366.17 (Jan. 27) | : 2025 Closing Low: 22829.15 (Jan. 27) |
2025 High (intraday): 80072.99 (Jan. 3) | : 2025 High (intraday): 24226.70 (Jan. 2) |
2025 Low (intraday): 75267.59 (Jan. 27) | : 2025 Low (intraday): 22786.90 (Jan. 27) |
2024 1st day close: 72271.94 (Jan. 1) | : 2024 1st day close: 21741.90 (Jan. 1) |
2024 Closing High: 85836.12 (Sept. 26) | : 2024 Closing High: 26216.05 (Sept. 26) |
2024 Closing Low: 70370.55 (Jan. 23) | : 2024 Closing Low: 21238.80 (Jan. 23) |
2024 High (intraday): 85978.25 (Sep. 27) | : 2024 High (intraday): 26277.35 (Sept. 27) |
2024 Low (intraday): 70001.60 (Jan. 24) | : 2024 Low (intraday): 21137.20 (Jan. 24) |
2023 1st day close: 61167.79 (Jan. 2) | : 2023 1st day close: 18197.45 (Jan. 2) |
2023 Closing High: 72410.38 (Dec. 28) | : 2023 Closing High: 21778.70 (Dec. 28) |
2023 Closing Low: 59288.35 (Feb. 27) | : 2023 Closing Low: 17311.80 (Oct. 17) |
2023 High (intraday): 72484.34 (Dec. 28) | : 2023 High (intraday): 21801.45 (Dec. 28) |
2023 Low (intraday): 58699.20 (Jan. 30) | : 2023 Low (intraday): 17098.55 (Jan. 17) |
2022 1st day close: 59183.22 (Jan. 3) | : 2022 1st day close: 17625.70 (Jan. 3) |
2022 Closing High: 63284.19 (Dec. 1) | : 2022 Closing High: 18812.50 (Dec. 1) |
2022 Closing Low: 51360.42 (Jun. 17) | : 2022 Closing Low: 15293.50 (Jun. 17) |
2022 High (intraday): 63583.07 (Dec. 1) | : 2022 High (intraday): 18887.60 (Dec. 1) |
2022 Low (intraday): 50921.22 (Jun. 17) | : 2022 Low (intraday): 15183.40 (Jun. 17) |
2021 Closing High: 61305.95 (Oct. 14) | : 2021 Closing High: 18338.55 (Oct. 14) |
2021 Closing Low: 46285.77 (Jan. 29) | : 2021 Closing Low: 13634.60 (Jan. 29) |
2021 High (intraday): 61353.25 (Oct. 14) | : 2021 High (intraday): 18350.75 (Oct. 14) |
2021 Low (intraday): 46160.46 (Jan. 29) | : 2021 Low (intraday): 13596.75 (Jan. 29) |
2020 Closing High: 47751.33 (Dec. 31) | : 2020 Closing High: 13981.95 (Dec. 30) |
2020 Closing Low: 25981.24 (Mar. 23) | : 2020 Closing Low: 7610.25 (Mar. 23) |
2020 High (intraday): 47896.97 (Dec. 31) | : 2020 High (intraday): 14024.85 (Dec. 31) |
2020 Low (intraday): 25638.90 (Mar. 24) | : 2020 Low (intraday): 7511.10 (Mar. 24) |
2019 High (intraday): 41809.96 (Dec. 20) | : 2019 High (intraday): 12293.90 (Dec. 20) |
2019 Low (intraday): 35287.16 (Feb. 19) | : 2019 Low (intraday): 10583.65 (Jan. 29) |
2018 High (intraday): 38938.91(Aug. 28)) | : 2018 High(intraday): 11760.20 (Aug. 28) |
2018 Low (intraday): 32483.8 (Mar. 23) | : 2018 Low (intraday): 9951.9 (Mar. 23) |
2017 High (intraday): 34005.37 (Dec. 26) | : 2017 High(intraday): 10515.10 (Dec. 26) |
End
US$1 = INR 87.58
Edited by Saji George Titus
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