As per provisional closing data, the barometer index, the S&P BSE Sensex, slipped 29.47 points or 0.04% to 75,967.39. The Nifty 50 index declined 14.20 points or 0.06% to 22,945.30.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.19% and the S&P BSE Small-Cap index dropped 1.71%.

The market breadth was weak. On the BSE, 1,006 shares rose and 2,932 shares fell. A total of 117 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Quality Power Electrical Equipments received bids for 1,40,46,916 shares as against 1,11,12,530 shares on offer, according to stock exchange data at 15:39 IST on 18 February 2025. The issue was subscribed 1.26 times.

The issue opened for bidding on 14 February 2025 and it will close on 18 February 2025. 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.

Stocks in Spotlight:

ABB India declined 1.86%. The company's net profit increased 56% to Rs 528.41 crore in Q4 CY24, compared to Rs 338.68 crore in the same period last year. Revenue from operations jumped 22% to Rs 3,364.93 crore in the fourth quarter of the calendar year 2024 as against Rs 2,757.49 crore in the year-ago quarter.

Meanwhile, the company declared a final dividend of Rs 33.50 per share. The record date has been set for 3 May 2025. This is in addition to the Rs 10.66 interim dividend per equity share declared in Q2 CY2024.

Power Grid Corporation of India rose 1.37% after the company announced that it has been declared the successful bidder under tariff-based competitive bidding for two projects to establish an inter-state transmission system on a build, own, operate, and transfer (BOOT) basis.

Patel Engineering (PEL) tumbled 3.62%. The company said that its joint venture has been declared the lowest bidder (L-1) for a Rs 1,090.45 crore project awarded by the Maharashtra Krishna Valley Development Corporation, Pune.

SBI Cards and Payment Services rose 1.34% after the company said that its board has appointed Salila Pande as the managing director (MD) & CEO with effect from 1 April 2025.

Meanwhile, SBI Cards has declared an interim dividend of Rs 2.50 per share for the financial year 2024-25. The record date for dividend eligibility is 25 February 2025, and payments will be processed by 18 March 2025.

Yasho Industries slipped 3.69% after the company announced the resignation of Deepak Kaku as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective from 17 February 2025.

LTI Mindtree added 3.14% after the IT firm collaborated with Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., to enhance customer experience by improving banking operations for Eurobank and its subsidiaries.

Bharti Airtel shed 0.43%. The company said that Indian Continent Investment Limited (ICIL), a promoter-group entity of Bharti Airtel, has sold nearly 0.84% stake (approximately 5.11 crore shares) in the company through a market transaction.

CLN Energy shed 0.35%. The company said that it has received a purchase order for supply of lithium ion batteries from a telecom industry public sector undertaking worth Rs 77 crore.

Deepak Fertilisers & Petrochemicals Corporation declined 2.08%. The company announced that its wholly owned subsidiary, Deepak Mining Solutions (DMSL), has increased its shareholding in its Australian subsidiary, Platinum Blasting Services Pty, from 65% to 85%.

Suraksha Diagnostic shed 0.40%. The company said that its chief financial officer (CFO) and key managerial personal (KMP), Amit Saraf, has resigned with effect from 15 February 2025.

Global Markets:

European markets traded mixed on Tuesday as traders kept an eye on geopolitical tensions in the region. Geopolitical tensions between the U.S. and Europe are likely to remain in focus for European markets this week as U.S. officials prepare for talks with Russia to end the war in Ukraine, with officials in Kyiv and Europe being left out of the discussions.

European leaders held an emergency summit in Paris on Monday to discuss how to respond to the apparent decision to sideline Europe, and while they agreed on increasing defense spending, there was no alignment over whether to send peacekeeping troops to Ukraine after any peace deal.

The Reserve Bank of Australia (RBA) cut rates by 25 basis points to 4.1%. This marks the RBA's first rate cut in over four years

Most Asian stocks ended higher as investors assessed Chinese President Xi's comments in a meeting with top executives. He signaled support to the country's private sector and urged businesses to show their talents.

Optimism around China surged on Monday (Feb 17) after President Xi Jinping met with business leaders, including Alibaba co-founder Jack Ma, fueling expectations that Beijing's years-long crackdown on the private sector may be coming to an end. Additionally, DeepSeek's breakthrough in artificial intelligence has sparked a rally of over US$1 trillion in Chinese stocks.

Meanwhile, US markets remained closed on Monday, February 17, 2025, for Presidents' Day, honoring the birth anniversary of George Washington.

Investor focus remains on President Donald Trump's plans for additional trade tariffs, as well as the trajectory of interest rates following last week's stubborn inflation data.

Powered by Capital Market - Live News