The Nifty ended below the 22,950 mark after hitting the day's high of 23,133.70 in early trade. All the sectoral indices on the NSE ended in the red, with media, pharma and consumer durables shares declining the most.

As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 199.76 points or 0.26% to 75,939.21. The Nifty 50 index lost 102.15 points or 0.44% to 22,929.25. In eight consecutive trading sessions, the Sensex and Nifty lost 3.37% and 3.41%, respectively.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index dropped 2.59%, and the S&P BSE Small-Cap index tumbled 3.24%.

The market breadth was negative. On the BSE, 680 shares rose and 3,321 shares fell. A total of 82 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.40% to 15.02.

Economy:

Wholesale price inflation moderated to 2.31% in January 2025 due to the decline in price of food items, especially vegetables, government data released on Friday showed. The wholesale price index (WPI)-based inflation was 2.37% in December 2024. It was 0.33% in January 2024.

IPO Update:

The initial public offer (IPO) of Quality Power Electrical Equipments received bids for 51,46,466 shares as against 1,11,12,530 shares on offer, according to stock exchange data at 15:50 IST on 14 February 2024. The issue was subscribed 0.46 times.

The issue opened for bidding on 14 February 2024 and it will close on 18 February 2024. The price band of the IPO is fixed between Rs 401 and Rs 425 per share. An investor can bid for a minimum of 26 equity shares and in multiples thereof.

The initial public offer (IPO) of Hexaware Technologies received bids for 24,24,32,505 shares as against 9,14,23,354 shares on offer, according to stock exchange data at 15:50 IST on 14 February 2024. The issue was subscribed 2.65 times.

The issue opened for bidding on 12 February 2024 and it will close on 14 February 2024. The price band of the IPO is fixed between Rs 674 and Rs 708 per share. An investor can bid for a minimum of 21 equity shares and in multiples thereof.

Stocks in Spotlight:

Godfrey Phillips India hit an upper circuit of 20% after the company's consolidated net profit climbed 48.7% to Rs 315.85 crore in Q3 FY25 as compared with Rs 212.35 crore in Q3 FY24. Revenue from operations (excluding excise duty) increased 28.2% YoY to Rs 1,899.35 crore in Q3 FY25.

NBCC (India) slipped 4.23%. The company said that it has received work orders for providing construction and maintenance services from Damodar Valley Corporation and the Ministry of Housing and Urban Affairs.

Afcons Infrastructure declined 2.36%. The company's consolidated net profit jumped 35.86% to Rs 148.85 crore on a 2.73% increase in revenue from operations to Rs 3,211.10 crore in Q3 FY25 over Q3 FY24.

GRM Overseas dropped 5.88% after the company's consolidated net profit fell 12.58% to Rs 13.54 crore in Q3 FY25, compared with Rs 15.49 crore in Q3 FY24. Revenue from operations declined 2.93% YoY to Rs 371.24 crore in Q3 FY25.

SJVN slipped 3.62% after the company's consolidated net profit fell 66.2% to Rs 149.03 crore in Q3 FY25 as against Rs 441.14 crore posted in Q2 FY24. Revenue from operations declined 34.6% QoQ to Rs 670.99 crore in the quarter ended 31 December 2024.

Concord Enviro Systems was locked in a lower circuit of 20% after the company reported consolidated net loss of Rs 8.56 crore in Q3 FY25 as against net profit of Rs 18.58 crore posted in corresponding quarter last year. Revenue from operations shed 0.27% YoY to Rs 122.82 crore in Q3 FY25.

Concord Biotech was locked in a lower circuit of 20% after the company's consolidated net profit fell 2.1% to Rs 75.92 crore in Q3 FY25 as compared with Rs 77.57 crore in Q3 FY24. Revenue from operations increased 1.4% YoY to Rs 244.22 crore in Q3 FY25.

Rites lost 3.53% after the company said that it has entered into a memorandum of understanding (MoU) with Neyveli Uttar Pradesh Power (NUPPL) for a contract worth Rs 120.13 crore.

Nazara Technologies shed 0.61%. The company reported a 52.89% decline in consolidated net profit from continuing operations to Rs 13.68 crore despite a 66.88% increase in revenue from operations to Rs 534.69 crore in Q3 FY25 over Q3 FY24.

Allcargo Logistics fell 5.45% after the company's consolidated net profit dropped 11.51% to Rs 9.69 crore in Q3 FY25 as against Rs 10.95 crore posted in Q3 FY24. Revenue from operations jumped 27.84% year on year to Rs 4,105.74 crore in the quarter ended 31 December 2024.

Senco Gold was locked in a lower circuit of 20% after the company's consolidated net profit declined 69.37% to Rs 33.48 crore in Q3 FY25 as compared with Rs 109.32 crore in Q3 FY24. Revenue from operations jumped 27.26% to Rs 2,102.54 crore in Q3 FY25 as compared with Rs 1,652.20 crore in Q3 FY24.

SEPC declined 2.11% after the company's consolidated net profit tumbled 19.71% to Rs 4.44 crore in Q3 FY25 as against Rs 5.33 crore posted in Q3 FY24. Revenue from operations declined 5.44% YoY to Rs 133.04 crore in Q3 FY25.

Gujarat Pipavav Port shed 1.63% after the company's consolidated net profit fell 14.38% to Rs 99.37 crore on 2.49% decline in revenue from operations to Rs 262.89 crore in Q3 FY25 over Q3 FY24.

Titagarh Rail Systems (TSRL) fell 5.58% after the company's standalone net profit dropped 8.12% to Rs 68.94 crore on a 5.5% decrease in revenue from operations to Rs 902.18 crore in Q3 FY25 over Q3 FY24.

Deepak Nitrite slumped 15.06% after the company's consolidated net profit tanked 51.45% to Rs 98.09 crore in Q3 FY25, compared with Rs 202.05 crore recorded in the same period last. Revenue from operation stood at Rs 1,903.40 crore in Q3 FY25, down 5.27%, compared with Rs 2,009.23 crore posted in Q3 FY24.

KNR Constructions fell 5.21% after the company's consolidated net profit tumbled 57.19% to Rs 248.28 crore in Q3 FY25 as against Rs 580.03 crore reported in Q2 FY25. Revenue from operations declined 48.30% to Rs 469.12 crore in Q3 FY25 as against Rs 907.41 crore posted in Q2 FY25.

Global Markets:

Most European stocks declined on Friday after reaching record highs earlier in the week.

Most Asian stocks ended higher, tracking overnight gains on Wall Street, as investor sentiment improved after U.S. President Donald Trump held off on imposing immediate reciprocal tariffs'despite earlier threats.

However, concerns over escalating U.S. trade tariffs and stubborn inflation lingered while an AI-fueled rally continued to boost Chinese equities.

Wall Street saw relief on Thursday, supported by a decline in Treasury yields, even as U.S. inflation data came in hotter than expected. The producer price index (PPI) for January rose 0.4% month-on-month, exceeding forecasts. On an annual basis, PPI held steady at 3.5%.

Despite the inflationary pressure, stocks rallied after Trump signed an order to explore reciprocal tariffs but stopped short of immediate implementation, giving trading partners a potential window for negotiations.

The S&P 500 climbed 1.04%, approaching record highs, while the NASDAQ Composite surged 1.5% and the Dow Jones Industrial Average gained 0.77%.

Tech stocks led the charge'Nvidia and Apple advanced 3.2% and 2%, respectively, while Tesla rebounded nearly 6% from a 2.5-month low.

With inflation concerns still looming, investors remain watchful of policy moves and market momentum in the days ahead.

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