Indian stock market crashed sharply on February 12 as top indices closed in the red. The Sensex declined by over 1%, and it closed at INR 76,293, while the Nifty 50 closed at INR 23,071, with a similar trend of decline.
Selling pressure was witnessed in the market as heavyweight stocks led the indices lower. Eicher Motors and Apollo Hospitals were the largest losers, each declining by over 6%. Shriram Finance followed with a decline of over 4%, while Coal India, BEL, and Tata Steel lost by over 2-3%.
The Nifty Bank index closed at INR 49,403, down marginally, with no gainer in the sector. PNB was the largest loser, down over 3%, followed by Canara Bank and Bank of Baroda, each down over 2%. Other banking stocks like Kotak Mahindra Bank, IDFC First Bank, and Federal Bank pulled the index lower as well.
The Nifty Next 50 index declined 2%, closing at 60,827. Top laggards were PFC and Motherson, each declining by over 5%, while Varun Beverages and Zomato declined by over 4%. Stocks like GAIL, IRFC, HAL, and Union Bank pulled the index lower heavily.
The BSE 200 index also closed lower, closing at 10,379, down over 1%. Uno Minda and Policy Bazaar were the worst performers, each declining by over 7%, while Eicher Motors, Apollo Hospitals, Oberoi Realty, and Voltas also put in the downward pressure.
Overall, the market was in a downtrend, with selling pressure witnessed across the board. Interestingly, Nifty Bank had no gainer at all, which shows weakness in the banking space.
As investor mood turned cautious, all eyes are now on overseas signals and domestic economic indicators to watch the market’s next move.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
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Published on: February 10, 2025 at 9.30PM GMT.
MaxVolt Energy Industries Limited IPO:
The company, MaxVolt Energy Industries Limited, has declared that the issue of their Initial Public Offering (IPO) would open from 12 February 2025 and close on 14 February, 2025. The IPO is being done in two tranches of ₹54 crores by selling as many as 3,000,000 equity shares worth ₹10. These shares are going to be listed on the NSE Emerge platform.
As stated in Bhagavad Gita :
यत्र योगेश्वरः कृष्णो यत्र पार्थो धनुर्धरः।
Wherever there is Lord Krishna, the master of yoga, and Arjuna, the supreme archer, there also is victory
12th February is celebrated as National Productivity Day in India!
