At 3:30 p.m., futures contract of Dow Jones was down 1.42% to 444,065, that of S&P 500 was also 1.64% down at 5,968, and Nasdaq 100 futures contract was 1.87% down at 21,187.
Credit Access Grameen has secured a $50 million investment from the International Finance Corporation to promote financial inclusion for underserved communities.
Godawari Power and Ispat Ltd. has commenced operations at its 0.6 million tonnes per annum iron ore beneficiation plant in Chhattisgarh.
Share indices across eurozone were trading in red as risk-on sentiment was dampened on fear of potential trade war after US President Donald Trump imposed tariff on Canada, China, and Mexico. This also created further fear of more trade tariffs from the US.
The Euro Stoxx 50 and and FTSE 100 were trading 1.82% and 1.17% down, respectively. The DAX was 1.77% down.
Market Veteran Madhusudhan Kela is bullish on liquor stocks, even as he perceives Budget 2025 has given a boost to various sector. The Managing Director of MK Ventures expects more co-operation from the state governments.
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Veteran investor Madhusudan Kela has cautioned against extrapolating the strong returns in stock market seen over the last three to four years, emphasising that the current market environment will require bottom-up stock picking.
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Investors eyeing the battered Indian stocks received a green light from the government's consumption boost, however, the market has another key test from the central bank to confirm that the stocks have hit a bottom.
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A total of 104 companies will declare their financial results for the October-December quarter on Monday, Feb. 3, as the earnings season enters its final leg.
Get live result updates here.
January total coal production rose 4.38% to 104.43 MT versus 100.05 MT (YoY).
January coal dispatch rose 6.31% to 92.4 MT versus 86.92 MT (YoY).
Source: PIB
Indian equities were trading lower with Nifty falling 0.79% lower at 23,299.05 and Sensex trading 491.01 points lower at 77,013.
Intraday, both Nifty and Sensex fell over 1%.
Nifty fell 1.11% or 260.15 points at 23,222.
Sensex fell 0.97% or 749.87 points to 76,756.09.
Broader indices were also down. Nifty Midcap fell 1.22%; Nifty Smallcap was trading 1.83% lower.
All sectoral indices fell, led by Nifty Metal.
Nifty Bank fell 0.62%, Nifty IT was up 0.27%.
Bharti Airtel, Bajaj Finserv and Mahindra and Mahindra were top Nifty gainers.
L&T, Reliance Industries and HUL were top Nifty losers.
Rising from December's one-year low of 56.4 to 57.7 in January, the HSBC India Manufacturing Purchasing Managers’ Index signaled a robust improvement in the health of the sector.
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Rites, RVNL, Titagarh Rail, Jupiter Wagons — Railway Stocks Derail As Capex Growth Eases
Neogen Chemicals Ltd.'s share price rose nearly 10% on Monday after its third-quarter net profit saw a multifold surge. The company reported that its consolidated net profit rose to Rs 10 crore, from 1.1 crore in the corresponding period of the previous financial year.
Neogen Chemicals' revenue rose 22.5% on the year to Rs 201 crore from Rs 164 crore. The figure was also above Bloomberg's estimate of Rs 192 crore. Its operating profit surged 70.7% on the year to Rs 34.6 crore from Rs 20.3 crore.
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The Indian stock market and the rupee tumbled on Monday alongside their Asian peers as US President Donald Trump unleashed the global trade war with levies of 25% on Canada and Mexico and 10% on China.
Indian benchmark indices — NSE Nifty 50 and 30-stock Sensex — fell as much as 1.03% and 0.94%, respectively, in Monday's early trade. The broader market fell in line with the benchmark indices. Metal, energy and oil and gas sectors led the declines.
The Rupee fell past the 87 mark during the opening to depreciate as much as 65 paise to 87.26 against the dollar. It recorded the worst opening since Feb. 2023.
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If India can escape the US tariffs, then it could be beneficial for Indian businesses, Madhusudan Kela, Market Veteran and Founder of MK Ventures told NDTV Profit. However, he said that such trade wars are not good for the supply chain globally.
He further added that due to the relationship between India and US, one can expected India to do a good job.
Rupee Weakens Past 87 Mark To Record Low On Trump Tariff Impact
The Indian Rupee ended flat at 86.61 on Friday.
The currency is expected to open around 86.90 and trade a 86.80-87.10 range with sideways price action, according to India Forex And Asset Management Pvt.
Meanwhile, the 1-year forward yield came off 8 basis points to 3.39%. On the other hand, the 3-month at-the-money-forward (ATMF) implied volatility rose by 12 basis points to 3.39%.
Finance Minister Nirmala Sitharaman's Union Budget 2025 has received largely positive reception from multinational investment banks who say tax cuts, reform push and fiscal prudence will help India's economic growth amid a challenging global economic environment. However, government revenue generation to plug the tax hole will be closely tracked.
ITC Ltd. will likely benefit from stable taxation outlook for cigarettes in the medium term, according to brokerages and analysts. Its strong business fundamentals are also likely to support its growth in coming quarters.
The Government of India announced no tax hikes for cigarettes in the budget for financial year 2025–26, allaying fears of such increases in near future and reflecting future policy outlook according to Morgan Stanley. Over the medium-term, Morgan Stanley expects moderate tax environment for tobacco products moving forward.
Tobacco tax rates fall under GST Council's purview. These tax rates are earmarked till March 2026, providing 12–15 months of stable taxation outlook for ITC, Jefferies said.
Nifty's 22,800-22,900 support is crucial, according to India Forex And Asset Management Pvt. A break below this level could lead to a 4-5% decline. "We favor large caps over small/midcaps and prefer defensive sectors over high beta," said the note.
Nifty February futures fell 0.25% at a premium of 73 points.
Nifty February futures open interest fell 2.15%.
Nifty Feb. 6 expiry: Max call open interest at 24,000, max put open interest at 21,100.
The US Dollar index is up 1.23% at 109.71.
Euro was down 1.24% at 1.0232.
Pound was up 0.20% at 0.8146.
Yen was up 0.41% at 155.82.
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