11-Feb-2025, 02:35 PM
On February 11, 2025, the Indian stock market benchmarks, Sensex and Nifty, opened in the red and experienced a significant downturn, influenced by various factors including global uncertainties and persistent selling by Foreign Institutional Investors (FIIs).
Market Performance
The BSE Sensex and Nifty 50 reflected negative market sentiment.
Sensex: Initially opened below 77,3004. At 1:11 pm, it traded at 76,388, marking a 957-point dip, or a 1.19% decrease. By afternoon, the index tumbled 1,002.87 points, a 1.30% decrease, to 76,312.415. The Sensex further plummeted, reaching a decline of over 1,100 points.
Nifty 50: Opened near 23,3504. By 1:11 pm, it traded at 23,079, a 333-point slide, or a 1.29% decrease. The index dropped 313.85 points, a 1.34% decrease, to 23,067.755.
Broader Market
The broader market experienced significant losses3. The BSE Midcap index was down by 3.18%, and the BSE Smallcap index was down by 3.61%2.
Sectoral Performance
All 13 major sectoral indices were in the red, with the financial and auto sectors particularly impacting the Nifty. Nifty Bank opened lower, slipping 230.05 points, or 0.46%, to trade at 49,750.956. Nifty Metal was the worst-performing sector, down by 2.64%.
Top Performers and Losers
Sensex: No stocks were listed under the top gainers2. Top losers included Zomato (-5.17%), Power Grid Corp (-3.05%), Tata Motors (-2.62%), Adani Ports (-2.24%), and Titan Company (-2.72%)2. Kotak Mahindra was the only stock to hit a 52-week high.
Nifty: Top gainers included Adani Enterprises (1.36%) and Grasim (0.75%)25. Top losers included Eicher Motors (-6.53%), Apollo Hospital (-6.08%), Shriram Finance (-4.72%), and Bharat Elec (-3.14%).
Global Influences
Global uncertainties and weak domestic earnings impacted market sentiment3. US President Donald Trump’s announcement of tariffs on steel and aluminum imports raised concerns about trade conflicts and inflation. This move strengthened the dollar and led to a decline in the Indian rupee to 87 against the dollar3.
Expert Advice
Amidst this market volatility, experts suggested focusing on the fair value of large-cap stocks. Siddhartha Khemka from Motilal Oswal noted that attention would shift back to Q3 earnings, corporate guidance, and global macro trends. Jatin Gedia from Mirae Asset Sharekhan advised that the Nifty should hold its support and resume its uptrend towards 24000, viewing pullbacks as buying opportunities.
