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POST-MARKET REPORT
The Indian stock market suffered significant losses in trade on Monday, February 3, with the Sensex falling over 700 points and the Nifty 50 plunging to a level below 23,250.
Today’s trade, February 03, was influenced by weak global cues and concerns over weak capex allocation in the Union Budget 2025, which led to a sharp sell-off in capex-related stocks.
The NSE Nifty 50 declined 0.52 percent to 23,361.05, while the BSE Sensex dropped 0.4 percent to 77,192.86 at closing.
Indian shares closed little changed on Saturday following the federal budget announcement. A rally in consumer stocks, driven by a pledged personal income tax cut, was offset by losses in infrastructure stocks, as investors were disappointed with the investment outlay for Fiscal Year 2026.
Among sectoral indices, BSE Capital Goods emerged as the worst performer, losing 4.29% of its value, followed by BSE Power, Nifty PSE, Nifty Energy, and BSE Oil & Gas, which fell between 2.5% and 3.3%.
The broader markets witnessed even more pain, with the Nifty Smallcap 100 index falling 2.13% to 16,617, while the Nifty Midcap 100 index concluded the day with a drop of 0.93%, closing at 52,988.
STOCKS TODAY
Divi’s Labs: shares rose about 5 percent after reporting a consolidated net profit of Rs 589 crore for the December quarter of the current financial year on February 3, a nearly 65 percent increase from the Rs 358 crore net profit reported during the same period last year.
Metro Brand Limited: The company shares briefly surged by over 7 percent on February 3, marking its largest single-day gain in seven months. This increase came after the Union Budget announcement, which included incentives for the footwear industry and adjustments to income tax slabs for the middle class.
UPL: shares rose by over 5 percent on February 3, reaching a 52-week high of Rs 636.80 after global brokerage Investec upgraded its rating to “buy” from “sell.” The brokerage also raised its price target for the stock to Rs 700, up significantly from the previous target of Rs 450.
Hero MotoCorp: share price saw a marginal increase in early trading on February 3, after the company reported improved sales data for January. The company’s total sales in January 2025 rose by 2.13 percent to 4,42,873 units, compared to 4,33,598 units in January 2024.
GR Infra Projects: shares dropped 4.5 percent in early trading on February 3, following a mixed quarterly performance report coinciding with the Union Budget announcement. Finance Minister Nirmala Sitharaman discussed the introduction of a new asset monetization plan for 2025-30, aiming to raise Rs 10 lakh crore for new infrastructure projects.