Sensex gains 139 pts; European mkt opens higher

The domestic equity indices traded with decent gains in the afternoon trade as investors assessed the U.S. Federal Reserve's decision to keep interest rates unchanged at 4.25'4.5%. Market participants are closely awaiting the Union Budget 2025, with expectations for growth-supportive initiatives that strike a balance with fiscal discipline. The Nifty traded above the 23,200 level. Oil & gas, realty and pharma shares advanced while consumer durables, IT and media stocks corrected. Trading was volatile due to the monthly Nifty 50 F&O series expiry today.

At 13:30 IST, the barometer index, the S&P BSE Sensex, rallied 139 points or 0.18% to 76,671.96. The Nifty 50 index added 57.60 points or 0.25% to 23,220.70.

In the broader market, the S&P BSE Mid-Cap index added 0.12% and the S&P BSE Small-Cap index rose 0.31%.

The market breadth was strong. On the BSE, 2,294 shares rose and 1,545 shares fell. A total of 140 shares were unchanged.

Gainers & Losers:

Oil & Natural Gas Corporation (ONGC) (up 2.88%), Cipla (up 2.81%), Power Grid Corporation of India (up 2.69%), Mahindra & Mahindra (up 2.58%) and Bajaj Auto (up 2.13%) were the major Nifty gainers.

Tata Motors (down 6.54%), ITC Hotels (down 4.98%), Shriram Finance (down 2.54%), Wipro (down 1.38%) and Bajaj Finserv (down 1.33%) were the major Nifty losers.

Tata Motors slipped 6.54% after the company reported a 22.41% decline in consolidated net profit to Rs 5,451 crore despite of a 2.71% rise in revenue from operations to Rs 113,575 crore in Q3 FY25 over Q3 FY24.

Stocks in Spotlight:

Bajaj Finance rallied 1.95% after the company's consolidated net profit jumped 18% to Rs 4308 crore in Q3 FY25 as compared with Rs 3,639 crore in Q3 FY24. Net interest income (NII) increased 23% YoY to Rs 9,382 crore in Q3 FY25.

Voltas slipped 12.23%. The company reported a consolidated net profit of Rs 131 crore in Q3 FY25 as compared with a net loss of Rs 28 crore recorded in Q3 FY24.Total income rose by 18% YoY to Rs 3,164 crore during the quarter.

Hitachi Energy India hit an upper circuit of 20% after the company's standalone net profit stood at Rs 137.28 crore in Q3 FY25, steeply higher than Rs 22.97 crore in Q3 FY24. Revenue from operations jumped 27.16% to Rs 1,620.27 crore in Q3 FY25 as compared with Rs 1,274.20 in Q3 FY24.

Whirlpool of India hit the lower circuit of 20% after the company's parent, Whirlpool Corporation, announced its intention to sell a 20% stake in the company by mid-to-late 2025 by way of one or more market sales.

Global Markets:

The US Dow Jones index futures were currently down by 116 points, signaling a positive opening for US stocks today.

European shares advanced on Thursday as investors await key earnings, economic data and the European Central Bank's latest monetary policy decision.

Markets in Japan and Australia traded mixed, breaking ranks with Wall Street that fell overnight as the Federal Reserve kept interest rates unchanged. Several Asia-Pacific markets were closed for the Lunar New Year holiday.

Recent data released by the Australian Bureau of Statistics showed that Australia's export price index climbed 3.6% in the fourth quarter of 2024, but fell 8.6% through the year. Its import price index rose 0.2% in the same quarter but fell 1.9% through the year. These indexes reflect the changes in prices of imports into and exports from the country.

Overnight in the U.S., benchmark indexes fell after the Federal Reserve left interest rates unchanged in its first policy decision of the year on Wednesday.

The S&P 500 slid 0.47% to close at 6,039.31, while the Nasdaq Composite lost 0.51% to end at 19,632.32. The Dow Jones Industrial Average shed 136.83 points, or 0.31%, to 44,713.52.

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