Markets Tumble as Profit Booking and Global Cues Weigh on Sentiment

Domestic stock markets, which started flat today, ended with heavy losses. Mixed signals from global markets, benchmark indices touching key resistance levels, investors booking profits, Donald Trump's tariffs coming into effect from April 2, and US GDP figures are due. Investors started selling from intraday highs. Shares in media, realty, oil, healthcare and PSE sectors were volatile. Overall, Nifty lost 181 points and Sensex lost 728 points.

The BSE Sensex, which closed at 78,017 in the previous session, opened at 78,021 on Wednesday. It touched an intraday low of 77,194. It reached an intraday high of 78,167. It ended at 77,288, down 728 points. The NSE Nifty, which opened at 23,700, touched a low of 23,451 and a high of 23,736. It closed at 23,486, down 181 points. The Nifty Bank lost 398 points and settled at 51,209.

In the Nifty50, 9 companies gained and 41 lost. Media, realty, healthcare, oil, PSE, PSU bank, CPSE, IT, finance, pharma, commodities, private bank and energy stocks were the top gainers. IndusInd, Trent, Hero Moto, Grasim, Power Grid were the top gainers. NTPC, Tech Mahindra, Cipla, Bajaj Finance and Axis Bank were the biggest losers.

Market breadth on NSE today completely shifted in favour of sellers. Out of 2985 stocks traded, only 622 gained. 2303 lost. 52 shares hit 32-week highs. 187 shares hit 52-week lows. 52 shares touched the upper circuit and 180 shares touched the lower circuit.

25 lakh shares changed hands in NMDC. Cult Fit has reportedly selected five banks as lead bankers for the IPO. Bharti Airtel has paid additional spectrum dues of Rs 6000 crore in advance. LTI Mindtree has expanded its partnership with Arenco Group. Hinduja Leyland has approved allotment of one crore shares to Ashok Leyland at Rs 200 each. Shares of Awas Finance, SBI Card and Chambal Fertilizers hit 52-week highs. Julian Bear's Mark Matthews said that $10 billion in US tariffs will do nothing for the $4 trillion Indian economy. Banks may cut interest rates from April. NetWeb shares have fallen 37% in 6 months. Bharti Airtel launched IPTV services in 2000 cities. Shares of Amara Raja and Exide rose after the inclusion of lithium-ion batteries in the list of core auto components. LT received orders worth Rs 15,000 crore from different companies.

HCL Technologies :

HCL Technologies has scheduled its Q4 FY2024 results announcement for May 2025. The company has consistently demonstrated robust financial performance in previous quarters. Investors are keenly awaiting the upcoming results to assess the company's growth trajectory.

Bharti Airtel :

In Q2 FY2024, Bharti Airtel reported a consolidated net profit of ₹3,593 crore, a 168% year-on-year increase, driven by tariff hikes. The average revenue per user (ARPU) rose to ₹233 during this period. The Q3 FY2024 results are anticipated to be announced on February 6, 2025.

Siemens India :

For Q1 FY2024, Siemens India reported a 21.6% year-on-year increase in consolidated net profit, reaching ₹426.8 crore, despite a slight decline in revenue. The company's strategic initiatives and operational efficiencies have contributed to this profit growth.

Ambuja Cements :

Ambuja Cements' Q3 FY2024 results, announced on January 29, 2025, indicated a net sales figure of ₹5,043.18 crore, reflecting the company's steady market presence. Detailed financial metrics and performance indicators were provided in the official release.

Varun Beverages :

In Q1 CY2024, Varun Beverages reported significant growth, with net sales increasing to ₹5,043.18 crore. The company's expansion strategies and increased market penetration have contributed to this upward trend.