Realty, media and auto shares declined while PSU bank and bank stocks edged higher.

As per provisional closing, the barometer index, the S&P BSE Sensex, declined 200.85 points or 0.27% to 73,828.91. The Nifty 50 index lost 73.30 points or 0.33%, to 22,397.20.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 0.77% and the S&P BSE Small-Cap index declined 0.62%.

The market breadth was weak. On the BSE, 1,526 shares rose and 2,449 shares fell. A total of 130 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 3.01% to 13.28.

The stock market will remain closed tomorrow, 14th March 2025, in observance of Holi.

Economy:

India's retail inflation eased to a seven-month low of 3.61% in February 2025, down from 4.31% in January, as food price pressures softened, according to government data released on Wednesday. This brings inflation below the Reserve Bank of India's (RBI) medium-term target of 4% for the first time since August 2024.

Meanwhile, India's industrial output growth picked up to 5% year-on-year in January 2025, compared to 3.2% in December 2024.

Buzzing Index:

The Nifty Realty index slumped 1.83% to 800.15. The index dropped 3.44% in two consecutive trading sessions.

Macrotech Developers (down 2.77%), Godrej Properties (down 2.6%), Phoenix Mills (down 2.45%), Oberoi Realty (down 2.44%), Raymond (down 2.37%), Brigade Enterprises (down 2.31%), DLF (down 1.70%) and Sobha (down 1.34%) declined.

On the other hand, Mahindra Lifespace Developers (up 1.18%) and Prestige Estates Projects (up 0.70%) edged higher.

Stocks in Spotlight:

Larsen & Toubro (L&T) shed 0.10%. The company announced that its joint venture secured a 'large' order to build a desalination plant in Saudi Arabia.

JSW Energy slipped 0.68%. The company said that it has signed a power purchase agreement (PPA) with West Bengal State Electricity Distribution Company (WBSEDCL) for a Greenfield 1,600 MW (2 x 800 MW) supercritical thermal power plant.

Meanwhile, the company announced that its wholly-owned subsidiary, JSW Neo Energy has entered into a share purchase agreement and acquired 100% shares of Virya Infrapower.

Zydus Lifesciences declined 0.70%. The company's venture capital arm, Zynext Ventures USA LLC announced its investment in Illexcor Therapeutics (Illexcor), a pioneering biopharmaceutical company developing next-generation oral therapies for sickle cell disease (SCD).

Yatra Online surged 6.70% after the company informed that Rohan Purshottamdas Mittal, chief financial officer (CFO) and key managerial personnel (KMP) of the company, has resigned to pursue new opportunities.

Bharat Electronics (BEL) rose 1.17% after the company announced that it has received a contract worth Rs 2,463 crore from the Ministry of Defence for the supply and services of Ashwini Radars to the Indian Air Force.

Nazara Technologies lost 0.29%. The company announced that Sudhir Kamath has tendered his resignation from the position of chief operating officer (COO) of the company, effective from 1 April 2025.

Jubilant Pharmova slipped 0.61%. The company said that its subsidiary, Jubilant Cadista Pharmaceuticals Inc., USA received the establishment inspection report (EIR) from the US drug regulator for its solid oral formulations facility at Salisbury, Maryland, USA.

VA Tech Wabag added 0.35%. The company announced that it has secured orders worth Rs 360 crore from GAIL (India) and Indian Oil Corporation (IOCL).

HPL Electric & Power rallied 4.77% after the company announced that it has received smart meter orders worth Rs 369.90 crore from its regular leading customers for the supply of smart meters.

GP Eco Solutions India hit an upper circuit of 2% after the company announced that it has secured an EPC turnkey contract for a 128 MWp ground-mounted solar power project valued at over Rs 300 crore.

Polycab India shed 0.41%. The company said that it has executed an agreement with Bharat Sanchar Nigam (BSNL) as project implementation agency (PIA) for Amended BharatNet Program.

BEML advanced 2.81% after the company announced it has signed two memorandums of understanding (MoUs) to expand its presence in the rail and dredging sectors.

NTPC Green Energy declined 1.19%. The company announced that its subsidiary, NTPC Renewable Energy, has declared the second and final phase of its 105 MW Shajapur Solar Project in Madhya Pradesh fully operational.

Premier Explosives added 0.43%. The company announced that it has received an export order for Rs 21.45 crore from international clients.

Global Markets:

European stocks advanced on Thursday, as investors will be keeping an eye on earnings from Hannover Re and Deliveroo, with no major data releases due today.

Most Asian shares ended lower following an overnight rebound in U.S. tech stocks. However, persistent concerns over trade tensions and global economic uncertainties suggest that market volatility is not going away anytime soon.

On Wednesday, major U.S. stock indices closed higher after a cooler-than-expected US CPI inflation report, but gains were tempered by renewed tariff threats from President Donald Trump. The S&P 500 climbed 0.5%, while the tech-heavy NASDAQ Composite surged 1.2%. The Dow Jones Industrial Average, however, edged 0.2% lower.

Inflation data showed a slight cooling, with the U.S. consumer price index (CPI) rising 2.8% year-over-year in February, down from January's 3% increase. The core CPI, which excludes volatile food and energy prices, recorded a 3.1% uptick'its slowest pace since 2021.

Despite easing inflation, investors remain wary. Trump's decision to impose 25% tariffs on all steel and aluminum imports has reignited fears of higher prices, potentially offsetting any economic relief from cooling inflation.

The European Union quickly responded, announcing counter-tariffs on $28 billion worth of U.S. goods, set to take effect in April. Canada followed suit, slapping retaliatory tariffs on $21 billion worth of American imports, including steel and aluminum. As tensions mount, concerns of a global trade war are intensifying, raising the risk of rising consumer prices and potential job losses across key industries.

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